To apply, please visit: https://www.governmentjobs.com/careers/rhodeisland/jobs/3732644/investment-analyst-treasury
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BACKGROUND: Authority for investment of all state funds is vested in the State Investment Commission (SIC), which is a 10-member volunteer body that is chaired by the Rhode Island General Treasurer. The SIC, which meets monthly, is responsible for the investments of the Employees’ Retirement System of Rhode Island ($10 billion) as well as the oversight of non-pension related investments such as the OPEB Trust ($500 million), the General Fund ($2 billion), the CollegeBound funds ($5 billion), the Ocean State Investment Pool ($500 million), and supports investment selection for the state’s defined contribution plans ($2 billion).
GENERAL STATEMENT OF DUTIES: To support the functions of the Investment Division in a variety of financial functions pertaining to retirement funds, defined contribution and deferred compensation plans, and CollegeBound products.
SUPERVISION RECEIVED: Receives direction and works under the general supervision of the Deputy Chief Investment Officer. The team works under the supervision of the Chief Investment Officer, who reviews work results for conformance to established procedures, regulations and controls.
SUPERVISION EXERCISED: None.
Illustrative Examples of Work Performed
The Investment Analyst is part of the investment team which reports to the State Treasurer and the State Investment Commission (SIC). The office invests pension assets by allocating capital to external investment managers with specific strategies rather than investing directly in individual securities of companies or assets. The primary goal of the investment office is to facilitate the SIC’s formulation and implementation of a policy asset allocation that meets the objectives of the defined benefit plan. The team seeks to identify, evaluate, and monitor investment managers that fit the goals of the policy allocation’s different asset classes. The office will work with external consultants to recommend asset allocation and investment manager decisions for State Investment Commission approval. The investment office believes that good governance, efficient use of environmental resources, and thoughtful management of social impact can help drive long-term risk-adjusted returns. ESG factors present risks to the state’s investments, which are evaluated and thoughtfully addressed by the investment office and the SIC.
Summary of Work Performed:
Nearly all of the Investment Analyst’s time will be spent working on the defined benefit plan. The defined benefit plan is a roughly $10 billion pool of capital that is actively invested across liquid and illiquid equity and debt strategies. The Investment Analyst will primarily play a supporting role to the broader Investment Division. The Analyst’s responsibilities will involve investment operations tasks such as portfolio analytics system maintenance and oversight, capital call processing, managing and coordinating investment committee and legal processes/documents related to investments, custodian bank account maintenance and asset transfers, monitoring investment managers to ensure compliance with investment guidelines outlined in Investment Policy Statements, State Investment Commission meeting coordination, maintaining investment performance graphics that are published to the Treasury website.
The Analyst will also assist in the monitoring and due diligence of investment funds. This will consist of data input and analysis, joining diligence meetings/calls with prospective and existing managers, and other ad hoc industry/asset class research projects. Investment fund diligence will be more heavily weighted toward private asset funds (private equity, venture capital, private debt, real estate and infrastructure). The Analyst can also expect to be involved with portfolio monitoring and prospective manager diligence as it relates to the Plan’s allocation to equities, fixed income, hedge funds, and other liquid asset classes. The Analyst will assist with various projects related to returns-based data analysis.
The Analyst will have the benefit of seeing many different areas of the institutional investment universe and how a sophisticated institutional investor constructs a portfolio allocation plan and works to execute on the plan’s objectives. The Analyst will be involved in many different tasks and should develop strong foundational investing experience across asset classes. The investment team has an open-door policy and the Analyst is welcome to and encouraged to participate in any meetings or processes that are of interest given the Analyst’s primary responsibilities are completed.
Qualifications for Appointment:
KNOWLEDGE, SKILLS, CAPACITIES: Must possess excellent quantitative and analytical skills; must be detail-oriented; must have a working knowledge of computer systems with a strong achievement in spreadsheet applications. A successful applicant will have critical thinking skills, intellectual curiosity, and will possess a demonstrated ability to analyze, troubleshoot and problem-solve.
A successful applicant must be able to meet deadlines and be skilled in time management. A successful applicant will be a self-starter with strong organizational skills. A successful applicant will be able to demonstrate strong presentation skills and an ability to communicate and synthesize complex ideas and recommendations.
A working knowledge of the principles of investment management is preferred but not required.
EDUCATION AND EXPERIENCE: A degree from an accredited college or university is preferred but not required.
0-2 years of relevant work experience, including but not limited to banking, investments, consulting, corporate or other work involving quantitative data and analytics, is preferred but not required.
Or, any combination of education and experience that shall be substantially equivalent to the above education and experience.