Chief Investment Officer Blog Post

We’re a community bank providing financial solutions to individuals, families, and businesses to help them achieve their goals – connecting our communities to what’s possible. For more than 150 years we’ve been supporting our local communities because we’re a part of those communities. We advocate for schools, nonprofits, civic organizations, and the economic development of the regions we serve.

SUMMARY

Directs, oversees, and manages all investment portfolio and strategies of the organization. This position is responsible for establishing long-range goals, strategies, plans, and policies. Responsible for the management of the investment team.

ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties may be assigned.

1. Develop and oversee the investment strategy for the organization and provide advice and recommendations to the Board of Directors for changes to investment strategy and policy.
2. Direct development, implementation, and communication of approved investment policies for the Trust Department; oversee formulation, maintenance, review, and communication of standard Trust Department investment practices, manual, and procedure.
3. Direct and participate in personal trust and individual account investment activities.
4. Serve as member of various committees related to the Trust Department.
5. Manage the organization’s investment portfolio, including sourcing, monitoring, and reviewing investments; manage the investment policy statement (IPS).
6. Identify and mitigate financial risks by establishing strategies that reduce and manage investment-related risks and follows guidelines set by the Board of Directors; stay updated on market trends, regulatory changes, and economic factors affecting investments.
7. Conduct research on investment opportunities and market trends.
8. Make investment recommendations; provide support to explain how these will benefit the Bank.
9. Compile and present reports on investment performance as compared to benchmarks.
10. Manage the investment team; responsible for the selection of external managers; work hands-on when staff is limited.
11. Build and manage client relationships; participate in client meetings.
12. Collaborate with external portfolio managers, analysts, and investors.
13. Plan, organize, and prioritize to manage a high-volume workload in a fast-paced and changing environment; complete detailed work with a high degree of accuracy.
14. Comply with all banking regulations, policies, and procedures.

NON-ESSENTIAL DUTIES & RESPONSIBILITIES include the following. Other duties may be assigned.

Maintain educational and professional expertise through attendance at job related seminars, conferences, and workshops and involvement in professional, civic, and community groups in leadership positions.

SUPERVISORY RESPONSIBILITIES

Directly supervises assigned employees and performs administrative duties associated with staff management (e.g., employee training, delegates work and ensures the completion of same, prepares and publishes work schedule, reviews and approves timesheets, coaches and counsels employees, prepares performance evaluations and conducts evaluation meetings, conducts staff meetings, makes salary and promotional recommendations, participates in recruitment, interview, and hiring process, administers progressive discipline, takes action regarding departmental activities and staff, approves/disapproves requests for leave time, notifies employees of mandatory training and bank meetings). Carries out supervisory responsibilities in accordance with the organization’s policies and applicable laws.

QUALIFICATIONS

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

EDUCATION and/or EXPERIENCE

Bachelor’s degree in business administration, accounting, economics, finance, or a closely related field. A Master of Business Administration or similar graduate degree is desirable.

Possess the equivalent of seven (7) years of increasingly responsible experience in the financial service industry with direct experience in institutional portfolio management and overseeing investments risk management and/or compliance functions for a public entity or private institution, pension fund, or endowment.

Proven experience with portfolio level asset allocation, performance evaluation, risk management, and management of custodial relationships, and working with investment consultants and advisors.

Possess knowledge of investment concepts, terminology, styles, models, and strategies, including portfolio theory, asset liability studies, asset allocation and performance measurement, capital markets, financial markets, and economic indicators. Knowledge of statistical concepts, methods, models, and their application to investments is required.

Possess knowledge of actuarial concepts and how they apply to pension funding and asset allocation decisions. Pension portfolio management experience preferred.

Attainment of the Chartered Financial Analyst (CFA) designation and pension portfolio management preferred.

LANGUAGE SKILLS

Ability to read, analyze, and interpret the most complex documents. Ability to respond effectively to the most sensitive inquiries or complaints. Ability to write speeches and articles using original or innovative techniques or style. Ability to make effective and persuasive speeches and presentations on controversial or complex topics to top management, public groups, and/or boards of directors. Ability to make presentations to groups with varied levels of finance and investment knowledge. Skill in verbal and/or written communication of complex information that is accurate, timely and based on sound judgment.

MATHEMATICAL SKILLS

Ability to comprehend and apply principles of advanced calculus, modern algebra, and advanced statistical theory. Extensive knowledge of statistical concepts, methods, and models, and their application to investments.

REASONING ABILITY

Ability to analyze and evaluate risk and performance of investment managers across equity, fixed income, hedge fund, private equity, and real asset strategies. Must possess excellent analytical skills.

OTHER SKILLS AND ABILITIES

Must have the ability to operate PC and printer, copy and fax machines and telephone. Must have good working knowledge of word processing and spreadsheet software programs. Advanced PC knowledge. Skill in planning, organizing, and prioritizing work assignments to manage a high-volume workload in a fast paced and changing environment is required. Must have the ability to complete detailed work with a high degree of accuracy. Proficiency using research tools such as Bloomberg terminal for economic and financial indicators, securities pricing, and other analytical functions.

KEY CONTACTS—Internal and External:

Has contact with internal departments and external contacts. Must have the ability to establish and maintain harmonious working relationships with co-workers, and external contacts, and to work effectively in a professional team environment.

CERTIFICATES, LICENSES, REGISTRATIONS

Valid driver’s license.

PHYSICAL DEMANDS

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

While performing the duties of this job, the employee is regularly required to sit and talk or hear. The employee frequently is required to use hands to finger, handle, or feel and reach with hands and arms. The employee is occasionally required to stand; walk; climb or balance; and stoop, kneel, crouch, or crawl. The employee must occasionally lift and/or move up to 10 pounds. Specific vision abilities required by this job include close vision, and ability to adjust focus.

WORK ENVIRONMENT

The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. The noise level in the work environment is usually moderate.

COMMENTS

Position may require occasional overnight travel to attend various training sessions. Position requires the ability to work before or after normal business hours to attend various meetings and meet with clients.