Senior Portfolio Trader Manager

Arizona Department of Administration•Phoenix, AZ

3d•Hybrid

About The Position

Arizona's Public Safety Personnel Retirement System (PSPRS) is looking for a Senior Portfolio Manager to oversee the Diversifying Strategies and Fixed Income portfolios. The Senior Portfolio Manager, who reports directly to the Chief Investment Officer, is in charge of monitoring all aspects of the accounts, including working with external advisers and fund managers and representing the PSPRS Trust on appropriate Advisory Boards. The Senior Portfolio Manager is responsible for reviewing and selecting external funds, direct investments (including listed securities), and co-investments in collaboration with analysts and external consultants, as well as serving as the primary point of contact in legal negotiations. The Senior Portfolio Manager oversees the Trust's research operations within areas of responsibility and may report to the Board of Trustees. Importantly, Portfolio Managers are expected to have a multi-asset class mindset and to actively engage throughout the portfolio, either formally or informally to other asset classes. As a result, experience in, and willingness to work in, a wide range of asset types is necessary. The Diversifying Strategies portfolio holds both liquid and illiquid assets, among them gold ETFs, hedge fund allocations, and royalties. Every investment in it must clear two tests: a return above 8% and little to no correlation to the S&P 500. The Fixed Income portfolio is currently indexed to an investment grade benchmark, and the portfolio manager will guide strategy for that account going forward. The two mandates ask for different habits of mind. One calls for judgment about assets that do not fit a standard box and often lack clean comparables. The other calls for discipline about rates, credit, and the cost of any step away from the index. We want a senior investor who can do both, and who can tell us which one the market is paying for at any given time. This position may offer the ability to work remotely, within Arizona, based upon the department's business needs and continual meeting of expected performance measures. The State of Arizona strives for a work culture that affords employees flexibility, autonomy, and trust. Across our many agencies, boards, and commissions, many State employees participate in the State’s Remote Work Program and are able to work remotely in their homes, in offices, and in hoteling spaces. All work, including remote work, should be performed within Arizona unless an exception is properly authorized in advance.

Requirements

Best practices in investment manager due diligence and fund level research.
Strong knowledge of credit and income strategies as well as hedge fund trading programs.
Technical and fundamental value drivers within specific asset classes.
Using quantitative analysis to assess an investment manager's skill and value.
Evaluating liquid and illiquid investment opportunities, both directly and through fund managers.
Risk analysis.
Think probabilistically and frame decisions across a range of outcomes.
Work independently and assertively to execute key strategic initiatives with little guidance.
Work across markets, evaluating investment opportunities.
Effectively communicate to differing department, division and agency levels.
Work effectively within both an independent and team environment.
Prepare and present in group/public settings.

Nice To Haves

Bachelor's or advanced degree from an accredited college or university in finance, economics, business or related field.
CFA, CAIA, CFM or other investment industry recognized certifications.

Responsibilities

Partners with the Trust's Specialty Consultant(s) as appropriate, in the review of investment opportunities, including fund commitments, direct investments, co-investments and other strategic and/or tactical positions and makes necessary recommendations to the CIO.
Compile, assemble and summarize various data, metrics, market information, industry analysis, economic analysis (macro-micro) concerning the Fund's investments and prospective investments and present such along with conclusions and recommendations, in an accurate, articulate and efficient fashion to Senior Staff and others as directed.
Review qualitative and quantitative data regarding portfolio performance, risk structure and operations.
Identify key technical and fundamental trends within asset classes, making appropriate recommendations to the CIO as needed.
Review all external relationships on a quarterly basis informing the CIO of material developments.
Assist the CIO in drafting investment policies specific to the Senior Portfolio Manager's area(s) of focus.
Prepare performance attribution reports.

Benefits

10 paid holidays per year
Accrual of sick and annual leave
Affordable medical benefits
Participation in the Arizona State Retirement Plan (after 6 months of employment)
Optional participation in a 457 deferred compensation program
Employer matching on employee deferrals in the 457 plan (limited to a matching of 6% of salary on a per pay period basis)
Paid Parental Leave program
Workplace flexibility
Learning environment
Team oriented culture
Full-time or part-time remote work schedule