Finance Analyst III, LACERA (Credit / Hedge Funds)
300 North Lake Avenue
Pasadena, CA 91101-4199
ANNOUNCEMENT FOR THE POSITION OF:
FINANCE ANALYST III, LACERA (CREDIT/HEDGE FUNDS)
An Equal Opportunity/ADA Compliant Employer
LACERA Values: Professionalism, Respect, Open Communication, Fairness, Integrity & Teamwork
OPENING DATE: 05/04/21
CLOSING DATE: Continuous
THIS IS NOT A CIVIL SERVICE EXAMINATION
This announcement is for a Call for Resumes for the position of Finance Analyst III, LACERA - Credit/Hedge Funds.
Resume Canvass 21-01
Annual Salary: $169,178.64 - $256,065.00
The Call for Resumes can be officially suspended at any time.
The Los Angeles County Employees Retirement Association (LACERA) administers and manages the $68 billion retirement fund for the County of Los Angeles. We provide retirement, disability, and death benefits to eligible County Employees and their beneficiaries, and collect, deposit, invest, and manage retirement funds collected from the County, outside districts, and County employees.
LACERA is one of the largest county retirement associations in the United States with over 165,000 members and more than 62,000 benefit recipients. Our membership is comprised of individuals from a diverse range of careers, age groups, and ethnicity - all contributing to the greater welfare of Los Angeles County. Benefits include health insurance, annual leave, sick leave, retirement, paid holidays, and ride share program.
LACERA Values: We work together toward achieving our Mission through our shared Values.
Our Values include Professionalism, Respect, Open Communication, Fairness, Integrity, and Teamwork.
ABOUT THE POSITION: The position is located in the Investment Office which is responsible for all aspects of the pension fund investment management including asset allocation, liability analysis, investment program structure, and implementation and monitoring of the fund. The position entails working on a team responsible for investments in two of LACERA’s functional categories: Credit and Risk Reduction & Mitigation (RRM). The Credit portfolio consists of high yield bonds, bank loans, emerging market debt, and various illiquid credit strategies. The RRM portfolio consists of investment grade bonds and a diversified hedge fund portfolio. The position also entails working with other members of the Investment office on cross-asset projects.
Work Schedule: This full-time position is required to work a 5/40 schedule (e.g. an eight (8) hour day, Monday through Friday).
CERTIFICATION BONUS: Any permanent, full-time employee working in this classification possessing a valid Chartered Financial Analyst (CFA) certification from the CFA Institute is entitled to a Certification Bonus equal to two (2) salary schedules (approximately 5.5%) as provided by the Los Angeles County Step Pay Plan.
Benefits: LACERA offers a comprehensive benefits package that includes medical and dental coverage, 401k Plan, 457 Plan, defined benefits pension plan, retirement healthcare benefits, tuition reimbursement program, paid holidays, and annual leave.
The Ideal Candidate will satisfy the position's requirements (as stated below) and possess the following desirable qualifications:
- Demonstrated knowledge of a variety of investment strategies and markets gained by five (5) or more years of
investment industry experience being directly involved in the investment decision making process and
construction of an institutional portfolio.
- Demonstrated experience performing due diligence on investment strategies such as liquid credit, illiquid credit,
and risk mitigating hedge funds.
- Demonstrated experience in developing and implementing portfolio structure tailored to portfolio objectives.
- Experience investing assets with external managers, including conducting a due diligence process, negotiating
terms, establishing investment guidelines, and performing ongoing diligence.
- Experience conducting analysis such as performance attribution and developing visually-effective reports to
assess what is working and not working in an existing portfolio.
- Excellent analytical and communications skills, including the ability to write clearly and make presentations to a
board or committee.
- Familiarity with investment operations relating to overseeing a portfolio of external managers, such as reconciling
performance and monitoring compliance.
- Knowledge of performance calculation methods, attribution analysis, and reporting standards (GIPS).
- MBA, or investment industry certification such as CFA/CAIA/FRM.
- Familiarity with systems such as Bloomberg, eVestment, StyleADVISOR and risk analysis or aggregation
- Passion for investment portfolio construction and commitment to lifelong learning.
- Collaborative and effective team player.
EXAMPLES OF ESSENTIAL JOB FUNCTIONS:
The following examples are intended to describe the general nature and level of work performed by persons assigned to
each classification. Depending on the assignment, duties may include, but are not limited to the following:
Prepares recommendations regarding investment policy, portfolio investment strategies, new investment vehicles, and
Participates in the process of review, selection, and retention of outside investment managers.
Negotiates contracts for Board approval for investment managers and other investment related services.
Monitors capital markets, economic forecasts, and provides the Board with ongoing analyses of the state of the global
economic situation as it relates to LACERA's investment program.
Develops and implements, under the direction of the Senior Investment Officer, LACERA, Principal Investment Officer,
LACERA, and the Chief Investment Officer, investment strategies in accordance with goals and guidelines adopted by
the Board of Investments.
Directs the preparation of recommendations for the Senior Investment Officer, LACERA, Principal Investment Officer,
LACERA, and the Chief Investment Officer regarding potential impact of pending legislative changes to LACERA's
Votes or votes by proxy on matters of corporate governance at annual and special meetings of corporations in which
LACERA holds an equitable interest in conformance with Board of Investments stated policies and consultants
recommendations; and directs the analyses and recommendations for changes to such policy as new issues appear in
Recommends appropriate investment procedures which ensure proper due diligence review and appropriate written
documentation for all investment actions.
Recommends reporting mechanisms to properly inform the Senior Investment Officer, LACERA, the Principal Investment
Officer, LACERA, the Chief Investment Officer and the Board of Investments as to the status of the asset class.
Recommends and maintains operational procedures with custodial banks, investment managers and related parties to
ensure the smooth operational function of transactions and business.
Recommends a system of records and files for pertinent documents, records, and instruments to ensure the integrity of
Reviews real estate acquisitions, appraisals, cash flows, and expenses; provides reports and information to the Senior
Investment Officer, LACERA, the Principal Investment Officer, LACERA, the Chief Investment Officer and the Board of
Investments regarding the state of LACERA's real estate investment program and the general condition of the real estate
May assist in directing, planning and supervising the activities of professional staff assigned to an asset class of
LACERA's investment portfolio.
May act in the absence of the Senior Investment Officer, LACERA as required.
REQUIREMENTS: A Bachelor's degree from an accredited college or university in Finance, Economics, Business Administration or a related
field -AND- Four (4) years' responsible investment management experience assisting in the continuing supervision and
review of an extensive investment program for a large financial institution or governmental agency. An additional two (2) years of the required experience may be substituted for a college degree.
A Master's Degree in Business Administration or a related field and two (2) years' of responsible investment management experience assisting in the continuing supervision and review of an extensive investment program for a large financial institution or governmental agency.
Two (2) years' of experience at the level of Los Angeles County's position of Finance Analyst II, LACERA.
LICENSE: A valid California Class C Driver License or the ability to utilize an alternative method of transportation when
needed to carry out job-related essential job functions.
PHYSICAL CLASS II Light: Light physical effort which may include occasional light lifting to a 10 pound limit, and some
bending, stooping or squatting. Considerable walking may be involved.
***DO NOT APPLY ONLINE***
How to Submit Your Interest...
If you wish to be considered for this position, please submit your resume along with a letter of interest which details your
experience in the following areas:
- Your experience building and maintaining an institutional portfolio.
- Your experience conducting due diligence on credit or risk mitigation investment strategies.
- Your experience in creating tailored reports, analyses, and presentations.
Submit your resume and cover letter to:
Michael Cordial, Senior Human Resources Analyst
LACERA is an Equal Opportunity Employer
This is not a Civil Service Examination