Investment Officer

GENERAL PURPOSE:

To provide investment oversight, analysis, and support to the Chief Investment Officer (“CIO”) by sourcing investment opportunities, performing due diligence on prospective new investment strategies or investment managers, monitoring performance of existing investment strategies or investment managers, and supporting various operational initiatives related to the investment program. Assist with the management of a complex portfolio of external private market investments, external public market investments, and some internal public market investments. May be assigned to one or more specific asset classes to lead portfolio management investment efforts and support various operational tasks. Work involves performing fundamental and statistical investment research and analysis; assisting with the management and day-to-day oversight of the private equity, real assets (including real estate), absolute return, and/or private credit portfolios; preparing and presenting reports on investments; and developing and maintaining professional relationships and contacts within the investments industry. Work under moderate supervision within an established process and is empowered to influence decisions using professional judgment.

ESSENTIAL DUTIES / RESPONSIBILITIES: May include any of the following:

Alternative and Private Markets Oversight:

1.    Maintain a general knowledge of the economic and other factors that influence the performance of global public and private market investments.

2.    Travel as necessary to develop and maintain professional relationships within the investments industry in order to conduct searches and gain knowledge of appropriate investment opportunities.

3.    With the support of consultants and investment team, lead the sourcing, due diligence, management, and day-to-day oversight of the external private portfolio of investments to achieve long-term performance targets within acceptable risk parameters.

4.    Collaborate with the investment team and make recommendations to the CIO regarding potential investment opportunities and general partner selection.

5.    Assist with defining, negotiating, and monitoring investment management agreements and related schedules.

6.    Review, evaluate, and ensure the accuracy and timeliness of periodic performance reports, pricing, and other communications between external managers, fund administrators, consultants, and custody banks.

7.    Communicate analysis on investment opportunities, results and recommendations with the CIO, compliance, senior management, Investment Committee, and the Board of Trustees via written and verbal reports and presentations, including preparing qualitative and quantitative reports, memoranda, and spreadsheets.

8.    Ensure that the Fund’s Ethics Policy is adhered to in relationships with brokers, investment managers, research suppliers, and other vendors.

9.    Ensure that due diligence, monitoring, and oversight efforts align with the Investment Policy Statement, Investment Implementation Procedures, compliance efforts, and other policies and procedures of the organization.

10. Support trustees with respect to investment-related matters on an as-needed basis.

Investment Program Analysis and Operations:

1.    Maintain documentation supporting strategy recommendations and the management and monitoring of the investment program.

2.    Provide secondary support to the investment team in the investment management review process through comprehensive analysis of a selected manager’s organization, personnel, investment process, performance, risk management and operations; prepare written reports summarizing results of various reviews.

3.    Provide secondary support to the investment team by participating in portfolio review meetings or on-site visits with managers and the Fund’s consultant to review organizational, operational, and other specific issues, as necessary.

4.    Participate in vendor or investment manager search process through the review and evaluation of responses and the selection of finalists.

5.    Provide secondary support to the investment team by monitoring investment managers’ portfolio holdings to verify compliance with investment guidelines and policies. Utilize custody banks compliance analysis monitoring software.

6.    Monitor service levels provided by the custodian bank and other vendors or service providers and report problems to the CIO and Director of Operations.

7.    Prepare monthly and quarterly investment performance reports for overall investment portfolio utilizing custody bank’s performance analysis software. Reconcile performance between bank, external managers, and consultants.

8.    On an as-needed basis, collaborate with the investment team, accounting, and operations regarding monthly cash flow analysis and the forecasted cash allocation.

OTHER DUTIES / RESPONSIBILITIES:

1.    Provide secondary support to accounting and investment operations with annual audit responsibilities, and interact with the custodian bank, auditors, and other vendors on an as-needed basis.

2.    Collaborate with the investment team, accounting, operations, and vendors on periodic projects that involve the investment program.

3.    Provide secondary support to the investment team, accounting, operations, and senior management regarding securities litigation research, investigations, and claims.

4.    Perform other duties and responsibilities, as assigned.

JOB QUALIFICATIONS:

Knowledge, Skills, and Abilities:

Knowledge of:

·      Investment concepts, terminology, styles, models, strategies, and fundamental investment factors.

·      Statistical concepts, methods and models, and their application to investments.

Skills:

·      Using a computer in a Windows environment with word processing, spreadsheet, presentation, database, and other business software to prepare correspondence, spreadsheets, charts, and reports.

·      Conducting data searches and evaluations of large amounts of information, performing complex statistical analysis of the data, preparing concise and accurate reports, and written / oral recommendations.

·      Planning, organizing, and prioritizing work assignments to manage a high-volume workload in a fast-paced and changing environment, and in completing detailed work with a high degree of accuracy.

·      Evaluating information to form opinions, recommendations, and formal reports that are accurate, timely, and based on sound judgment.

·      Presenting verbal and/or written communication of complex information to groups with varied levels of investment knowledge.

·      Establish and maintain harmonious working relationships with co-workers, external contacts, and the Board of Trustees, and work effectively in a professional team environment.

·      Travel as needed in order to conduct due diligence on managers.

Education, Formal Training, or Experience:

Education: Bachelor’s degree from an accredited four-year college or university with major coursework in business administration, finance, accounting, math, or a related area. Master’s degree in a related area from an accredited college or university is preferred. A holder of the Chartered Financial Analyst (CFA) designation and/or Chartered Alternative Investment Analyst (CAIA) designation is preferred.

Experience: A minimum of five (5) years of full-time professional investments experience in an institutional setting. A Master’s degree in a related area may substitute for one year of the required experience.

Preferred Experience:

- Experience evaluating, sourcing, performing due diligence, reviewing terms, selecting, and monitoring absolute return, private credit, real estate, and/or real asset investment managers utilizing bilateral, comingled, or other private partnership structures.

- Experience evaluating, sourcing, performing due diligence, reviewing terms, selecting, and monitoring publicly traded investment opportunities and managers utilizing comingled or separate account structures.

**To apply for this position, send your resume and cover letter to HR@fwretirement.org.**