Deputy Chief Investment Officer and Head of the ETI Portfolio

2 weeks ago

Suffolk, United States City of New York Full time

The New York City Comptroller’s Office works to promote the financial health, integrity, and effectiveness of New York City government, in order to strengthen trust, secure a thriving future for all New Yorkers, and build a more just, equitable, and resilient city. Led by an independently elected citywide official, the comptroller’s office provides checks and balances needed to hold City government accountable for budgeting wisely, investing responsibly, operating efficiently, acting fairly, living up to its obligations and promises, and paying attention to the long-term challenges we face together.


WHAT MATTERS TO US: As a workplace driven by our values, we are: Principled, Collaborative, Communicative, Equitable, Transformative, and Innovative.


The Bureau of Asset Management (BAM) is responsible for oversight of the investment portfolios of the five New York City pension systems. Through a culture of collaboration, individual development, and teamwork that leverages diverse talent and strives for continuous improvement, the goal of the Bureau of Asset Management is to achieve exceptional investment outcomes for all stakeholders; to deliver outstanding support to plan Trustees; and to serve as a responsible steward of the resources of plan beneficiaries and the City of New York.


Reporting directly to the Chief Investment Officer, the Deputy Chief Investment Officer (DCIO) will be a member of the BAM senior leadership team and a voting member of the Investment Committee. The DCIO will lead the Economically Targeted Investment (ETI) program and will have oversight over the Diverse and Emerging Manager and Brokerage programs and the broader ESG program, including Corporate Governance and ESG Due Diligence.


JOB DUTIES INCLUDE:
  1. Serve as a voting member of the BAM’s Investment Committee;
  2. Participate in the BAM’s review and recommendation of investments across all asset classes including investment recommendations, portfolio construction, rebalancing and other investment functions;
  3. Represent ETIs, Diverse and Emerging Manager programs and ESG priorities in leadership team meetings;
  4. Supervise the ETI team, the Chief ESG Officer, and the Director of Diverse and Emerging Manager Programs;
  5. Work with the Systems’ Boards of Trustees and their Consultants to design and implement the ETI plan, diverse and emerging manager programs, and ESG priorities;
  6. Identify staffing needs for a bespoke ETI team and develop recommendation for Asset Class-based ETI support;
  7. Work in collaboration with the Asset Class teams as they work with external managers who invest in various asset classes including affordable housing, green investments, small business lending, and more;
  8. Develop investment programs, guidelines and monitoring procedures to oversee the existing portfolio and identify new investment opportunities; conduct research on market trends to inform investment recommendations;
  9. Collaborate with the System’s consultants and BAM Risk Management team to set an optimal allocation to emerging investment managers across asset classes;
  10. Be the public face of the Systems’ ETI program to source potential transactions and establish the Systems as a thought leader in the space;
  11. Perform due diligence through quantitative and qualitative analysis of existing and prospective ETIs; create and maintain databases of investment information to support existing investments and identify future opportunities;
  12. Prepare detailed written recommendations in support of new and follow-on investments or programs; assist in the negotiation and documentation of terms and conditions of ETIs;
  13. Manage relationships with investment partners including ongoing monitoring and reporting of investment activities and, as appropriate, serving on limited partner committees or in other capacities. Proactively address significant events. Provide oversight of activities including, but not limited to, capital calls and distributions, amendment requests, consent notices and compliance with investment agreements;
  14. Measure and present financial and social performance results of the portfolio and individual investments to the Systems’ Boards of Trustees and to the BAM Investment Committee;
  15. Perform related assignments or special projects as may be required.

MINIMUM QUALIFICATION REQUIREMENTS:
  1. Graduate degree from an accredited university in economics, finance, business, or a closely related field, and ten (10) or more years of progressively responsible full-time professional experience in a financial services role with over $25 billion in assets with progressively increasing responsibility, or similar experience at a consulting, strategic advisory or government entity or closely related area, at least eighteen (18) months or more of this experience must have been in a managerial, administrative, or supervisory capacity. Supervision must have included supervising staff performing professional work in financial services areas described above;
  2. BA/BS degree from an accredited college and twelve (12) or more years of progressively responsible experience in a financial services organization as described in “1” above, including at least eighteen (18) months of managerial, administrative or supervisory experience as described in “1” above;
  3. A satisfactory equivalent of education and experience mentioned above.

Preferred Skills
  1. Direct, senior level experience in investment management in Economically Targeted Investments, ESG, or Impact Investing;
  2. Extensive experience within a multi-asset, externally-managed portfolio of public and private investments;
  3. Chartered Financial Analyst Certification (CFA), CAIA, or equivalent;
  4. Excellent interpersonal, communication, report writing and organizational skills;
  5. Ability to travel domestically and internationally to represent the BAM.

Additional Information

The City of New York is an inclusive equal opportunity employer committed to recruiting and retaining a diverse workforce and providing a work environment that is free from discrimination and harassment based upon any legally protected status or protected characteristic, including but not limited to an individual's sex, race, color, ethnicity, national origin, age, religion, disability, sexual orientation, veteran status, gender identity, or pregnancy.

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