SVP, Chief Investment Officer

4 weeks ago

New York, New York, United States Federal Reserve System Full time
Company
Federal Reserve Bank of Atlanta

The SVP, Chief Investment Officer for the Office of Employee Benefits (OEB) in Newark, NJ, impacts the direction of the Federal Reserve's defined benefit and defined contribution assets, which are key drivers for the System's ability to attract and retain talent. The Federal Reserve's work promotes the stability and efficiency of the U.S. economy and financial system. Our work affects the economy of the Southeast, the United States, and the world. The work we do here is important, and how we do it is just as important as what we do. We live our values of integrity, excellence, and respect every day. We do the right thing, we do things right, and we treat people right. A career at the Federal Reserve Bank of Atlanta gives you the chance to do work that touches lives and helps communities prosper.

In addition to competitive compensation, we offer a comprehensive benefits package that includes tuition assistance, generous paid time off, top-notch health care benefits, child and family care leave, professional development opportunities, a 401(k) match, pension, and more. All brought together in a flexible work environment where you can truly find balance.

We are a hybrid work environment.

As part of the Federal Reserve Bank, always verify and apply to jobs on Federal Reserve System Careers or through verified Federal Reserve Bank social media channels.

General Summary:

Location: You must live within commuting distance to the Newark, NJ office. Routine and ongoing onsite presence in the Newark office is required for this role - to model expectations and to support the investment team. Additionally, occasional presence in the Atlanta Bank and the Board of Governors in D.C. is required to engage with Executive Leadership Committee members and to attend Atlanta Bank events.

You will be working in Newark, NJ for a division of the Federal Reserve Bank of Atlanta (Office of Employee Benefits -OEB) and will develop the investment strategies, design the investment processes, and oversee the external managers responsible for managing the System's Retirement and Thrift Plan assets. You will also oversee 1) the actuarial valuation and analysis related to all of the System's benefit plans, and 2) the activities of the System's financial education vendor (Goldman Sachs Ayco). As a member of the OEB's Senior Leadership Team, you will also contribute to the OEB's overall mission and operations, particularly as it relates to communications, financial education, plan administration, and financial reporting and accounting.

You will function as a member of the senior leadership team of the OEB, report directly to the EVP, Executive Director of OEB, and be responsible for leading the internal team of investment analysts. The investment team receives direction from the Committee on Investment Performance (CIP), the Federal Reserve System's (FRS) oversight committee with primary responsibility for the management of the Retirement and Thrift Plans' investment portfolios, which are commonly known as defined benefit and defined contribution plans.

Responsibilities:
  • Provide leadership and oversight, development opportunities, and strategic direction to other People Leaders and a team of experienced investment professionals. Perform personnel management functions such as hiring, staff development, employee performance appraisals, compensation decisions, and other personnel actions.
  • Support and contribute to strengthening the OEB's broader culture. Serve as a strong contributing member to OEB leadership team beyond investment responsibilities. Bring excellent people leader skills, experience developing future leaders, contributes to an inclusive, participatory culture, and provide quality strategic counsel and advice to the EVP, Executive Director OEB.
  • Initiate and coordinate the primary investing decisions in fulfilling the investment objectives for the Retirement and Thrift Plans under the direction of the CIP. Establish investment policies and guidelines for each plan, investment portfolio, and investment manager.
  • Source, select, diversify, and monitor the investment managers/general partners who carry out the actual investing of various aspects of the portfolio including cash management, bonds, equities, private equity, real estate and derivatives.
  • Manage the System's actuarial processes (including the activities of the System's independent actuarial firm) for overseeing, valuing, and reporting on the System's various retirement, post-employment, and other employee benefit plans. Also provide guidance to the CIP (formerly the Committee on Plan Administration) regarding funding policy for the Retirement Plan.
  • Conduct regular reviews of potential new asset classes and recommend and implement (if approved by the CIP) new investment strategies and/or asset classes for the Retirement and Thrift Plan investment portfolios.
  • Make investment decisions with respect to individual private equity and real estate investment opportunities under delegated authority from the CIP and in conjunction with external advisors and consultants.
  • Oversee the activities of the third-party trustee, custodian bank for the Retirement and Thrift Plans, and the accounting and financial reporting for the Plans' investment portfolios.
  • Support the System's participant financial education efforts by directing the activities of the System's financial education vendor (Goldman Sachs Ayco) as well as contribute and provide technical guidance to the OEB Communication team to provide customized financial education and information to Plan participants. Conduct research on investment and Plan operations matters that is intended to measure Plan effectiveness and/or to lead to changes in Plan design.
Highly Specialized or Technical Skills/Certifications
  • Extensive experience of working in finance or investment analysis.
  • Prior strong experience in a CIO or Deputy CIO position of a Pension Fund, endowment or foundation.
  • MBA, CFA and/or CPA degree/certifications are highly desirable.
Competencies
  • Communicates Effectively/Displays Interpersonal Savvy
  • Exhibits Courage
  • Demonstrates Decision Quality
  • Reflects a Strategic Mindset
  • Develops and Engages Talent
  • Values Differences
  • Ensures Accountability
This is not necessarily an exhaustive list of all responsibilities, duties, performance standards or requirements, efforts, skills or working conditions associated with the job. While this is intended to be an accurate reflection of the current job, management reserves the right to revise the job or to require that other or different tasks be performed when circumstances change (e.g. emergencies, rush jobs, change in workload or technological developments).

The Federal Reserve Bank of Atlanta is an equal opportunity employer.

Full Time / Part Time
Full time

Regular / Temporary
Regular

Job Exempt (Yes / No)
Yes

Job Category

Work Shift
First (United States of America)

The Federal Reserve Banks believe that diversity and inclusion among our employees is critical to our success as an organization, and we seek to recruit, develop and retain the most talented people from a diverse candidate pool. The Federal Reserve Banks are committed to equal employment opportunity for employees and job applicants in compliance with applicable law and to an environment where employees are valued for their differences.

Always verify and apply to jobs on Federal Reserve System Careers ) or through verified Federal Reserve Bank social media channels.

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