Chief Economist

Chief Economist (Hourly) Hybrid Working Schedule
Job no:

Work type: Wage (Hourly)

Location: Richmond (City), Virginia

Categories: Audit and Finance, Data Analysis

Title: Chief Economist (Hourly) Hybrid Working Schedule

State Role Title: Chief Economist (Hourly) Hybrid Working Schedule

Hiring Range: $125.00

Pay Band: UG

Agency: Virginia Retirement System

Agency Website:

Recruitment Type: General Public - G

Job Duties:
The Chief Economist has direct responsibility to support applied research efforts for all VRS investment staff. The incumbent's primary support will focus on the Portfolio Solutions Group (PSG), and the Internal Asset Management team (IAM). Additional support will extend to other investment staff and the VRS actuarial team.

This effort includes monitoring, coordinating, facilitating, and implementing current best practices and methods to ensure optimal investment performance, and risk management, at both the program and plan level.

Economic Analyses - Conducts in-depth analysis of economic trends, market conditions, and global events that could impact the pension fund's investments and financial health.

This includes analyzing interest rates, inflation rates, GDP growth, employment data, and other relevant economic indicators.

Models the transmission of potential shocks to program level performance and total Fund, decomposing the effects of these shocks on factors that drive returns, and providing the Director of PSG this information as a tool to facilitate program management.

Risk Management - Acts as a resource to the Risk Director in the development and maintenance of a state-of-the-art quantitative risk management system which provides estimates for a full range of risk metrics for individual investment programs, including, but not limited to, volatility, tracking error, non-normal VaR, and stress testing at various returns frequencies.

The Chief Economist also helps direct work related to stress testing and scenario analysis as it applies to annual asset-liability modeling (ALM).

Asset Allocation - Serve as a resource to PSG members pertaining to asset allocation and asset-liability management analyses. This may require developing economic forecasts and scenarios to anticipate future market conditions and trends. These forecasts help in making informed investment decisions and managing risk within the pension fund.

Applied Research - Other responsibilities include the design of statistical experiments and diagnostic tools, mathematical modeling, and application of these to strategy development.

This may include working with external parties on applied research for portfolio construction or translating academic research to practice for asset class programs.

There is a desire to establish thought leadership and enhance VRS' reputation in the financial and investment community.

Minimum Qualifications:
Master's degree in a quantitative discipline, economics or finance, with strong cross-disciplinary training in mathematics, statistics, and programming, Ph.
D. preferred; an equivalent combination of education and experience may also be considered.

Ten or more years of investment experience, and research. Advanced knowledge of pension trusts management and administration. Must have experience working across all asset classes. Must have excellent communication skills, both written and verbal. Must have a strong background in project management, and working in a team-oriented environment.

Additional Considerations:
Previous experience in an Investment related role, in the Public sector.

Special Instructions:
*VRS is unable to provide sponsorship, for this position*This position follows the hybrid work model currently requiring two days onsite and three days remote. Effective September 2024, this hybrid arrangement will require three days onsite and two days remote.

Investment due diligence performed on external investment managers (both existing and prospective) and other related entities will include both on-site and virtual visits; therefore, out-of-state travel and occasional international will be required.

This is an hourly position with no benefits provided. The selected candidate will work a maximum of 29 hours per week, on average.
You will be provided a confirmation of receipt when your application and/or résumé is submitted successfully. Please refer to "Your Application" in your account to check the status of your application for this position.

Contact Information:

Name:
Human Resources

Phone:

Email:

In support of the Commonwealth's commitment to inclusion, we are encouraging individuals with disabilities to apply through the Commonwealth Alternative Hiring Process.

To be considered for this opportunity, applicants will need to provide their AHP Letter (formerly COD) provided by the Department for Aging & Rehabilitative Services (DARS), or the Department for the Blind & Vision Impaired (DBVI).

Service-Connected Veterans are encouraged to answer Veteran status questions and submit their disability documentation, if applicable, to DARS/DBVI to get their AHP Letter.

Requesting an AHP Letter can be found at AHP Letter or by calling DARS at

Note
: Applicants who received a Certificate of Disability from DARS or DBVI dated between April 1, 2022- February 29, 2024, can still use that COD as applicable documentation for the Alternative Hiring Process.

Advertised: 27 May 2024 Eastern Daylight Time

Applications close: 31 May 2024 Eastern Daylight Time

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