Credit Underwriter

Summary:  Under limited supervision, implements and administers policies and guidelines relating to the Systems’ approved investment program; assists in the effort to exceed the actuarial assumed rate of return while constraining risk; monitors the performance of investment managers and investment related activities.

Reports to: Managing Director of Equity and Alternatives

Essential Job Functions:  The list that follows is not intended as a comprehensive list; it is intended to provide a representative summary of the major duties and responsibilities.  Incumbent(s) may not be required to perform all duties listed, and may be required to perform additional, position-specific tasks.

• Responsible for underwriting private credit investment opportunities, including assessment of the credit quality of prospective credit investments, performing financial statement and ratio analysis, and reviewing loan terms and documents.
• Responsible for monitoring credit positions post-closing, including analyzing investment performance and risk, tracking portfolio company/borrower updates and reviewing financial statements.
• Prepares periodic reviews of the overall credit portfolio and presents findings. Maintains working knowledge of the credit markets.
• Responsible for monitoring private equity and private credit relationships within the Systems’ portfolio.  Analyzes performance and organizational stability; participates in conference calls and due diligence meetings; reviews quarterly reports; completes partnership write-ups; Interacts with the private equity and private credit consultants; makes team-based recommendations related to assigned investments; makes presentations to the Directors, Senior Portfolio Managers, CIO, Executive Director and the Board of Trustees on all phases of implementation.
• Conducts research and analysis related to the private equity and private credit asset classes; performs quantitative and qualitative analysis of private equity and private credit partnerships; assists in the preparation of the Board book detailing private equity and private credit analysis and recommendations.
• Conducts a variety of operational activities related to the private equity and private credit composites.
• Conducts a variety of special projects as assigned.
• Performs other related duties as assigned.

Required Knowledge and Skills:

• Knowledge of the principles of finance, economics and financial markets.
• Knowledge of portfolio theory, investment analysis, accounting and pension plan management.
• Knowledge of investment analysis software packages.
• Knowledge of PSRS/PEERS policies and procedures.
• Skill in researching and analyzing financial information.
• Skill in gathering, organizing and evaluating financial information.
• Skill in following and effectively communicating verbal and written instructions.
• Skill in working independently and as a team member.
• Skill in communicating effectively, both orally and in writing.
• Skill in planning and implementing policies and procedures.
• Skill in establishing and maintaining effective working relationships with other staff, Board members, investment managers and Custodian.
• Skill in the use of a personal computer and standard business software including MS Word, Excel, PowerPoint and Outlook.

Education and Experience:

• Bachelor’s degree in business administration, accounting, finance, economics, mathematics or related field.  Master of Business Administration and/or CFA preferred.
• At least three years of institutional investment experience or at least three years of credit investment, credit underwriting, or commercial lending experience required.

Working knowledge of the investment markets, economic theories, investment principles, credit markets, private credit and private equity asset classes and/or debt and equity capital markets preferred.

Environmental Factors and Conditions/Physical Requirements:

• Work is performed in an office environment; may be subject to repetitive motion such as data entry and vision to monitor; may be subject to extended periods of intense concentration in the review of documents and reports; may be subject to bending, reaching, kneeling and lifting such as retrieving files, records and reports.
• Possession of a valid State of Missouri driver’s license required to use the company vehicle.

Equipment and Tools Utilized:

• Equipment utilized includes computerized and conventional office equipment.