Investment Committee Member (41681)
Investment Committee Member
Job Number: 41681
The Investment Committee assists in the development of the Investment Policy and monitoring compliance with that Policy relating to the management of various funds controlled by the City of Edmonton. These funds, which total $3.7 billion, are invested to achieve the highest possible rate of return at a prudent level of risk. The Investment Committee recommends to the Chief Financial Officer an overall Investment Policy for each fund. The Committee will monitor the funds to ensure they are invested to fulfill their purpose and financial objectives. The Committee assists in guiding the investment structure and implementation strategies.
- Review Investment Policy regularly and recommend changes to the Chief Financial Officer
- Review Terms of Reference for the Investment Committee and recommend changes as necessary to the City Manager
- Examine investment strategies and philosophies (asset class, investment sectors, and security types)
- Analyze capital market review assumptions and investment implementation strategies
- Monitor services of external managers, performance measurement service provider, custodian and other consultants
- Meet the high standards required to oversee a complex pension plan and must fully accept their fiduciary responsibility to the Corporation
- Monitor City Policy and statutory compliance and advise the City Manager of any non-compliance issues
- Monitor the investment performance of all City funds against benchmarks, funded status, mandates, and advise as appropriate
- Review actuarial studies and simulations with investment consultants
- Meet with investment managers, performance measurement advisors, custodians, and external auditors
- Assist the Chief Financial Officer in preparing an Annual Report on investment performance and policy and statutory compliance for recommendation to the City Manager and City Council
- Receive reports, evaluate performance, and provide advice
- Confirm and report to the City Manager on policy and statutory compliance issues on a quarterly basis
- Related post-secondary education; preferably a degree in Business, Administration, or a related discipline
- Chartered Financial Analyst (CFA) designation would be considered an asset
- Extensive portfolio management experience acquired through working in an investment operation of a large municipality, corporation, or investment management firm
- Significant executive leadership experience in a government environment
- Considerable background in board governance and senior oversight responsibilities
- Highly sophisticated risk management skills and related strategic decision-making experience
- Significant background in asset liability management, its impact to investment strategies, the development of investment policies and portfolio management
- Ability to analyze and evaluate data, document findings, and recommend changes
- Present complex ideas to diverse audiences, build positive relationships, and establish clear expectations
- Communicate with strong political acumen, strategic planning, issue resolution, and decision-making skills
- Ability to evaluate important decisions with respect to significant investment activity
- Service excellence, embracing diversity and promoting inclusiveness, and a respectful workplace
- Demonstrated ability to apply an equity lens, such as GBA+, to related issues
Terms of Office
The term for external committee members is to be set at three years or less, with no external member serving more than two consecutive terms, unless otherwise approved by the City Manager.
Meetings will be held at least quarterly and monthly when possible.
The City of Edmonton is committed to inclusive, respectful, and equitable workplaces that represent the communities we serve. We continuously improve our systems, policies, and practices to remove barriers and ensure our employees, in all their diversity, can succeed. We encourage applications from courageous leaders who intentionally promote respect and inclusion on their teams. To learn more, see the Art of Inclusion: Our Diversity and Inclusion Framework here: https://bit.ly/3hd2d95.
The City of Edmonton strives to provide reasonable access and accommodations throughout the application and selection process. If you would like to request an accommodation at any stage of the process, please contact Employment@edmonton.ca.
COVID-19 Notice: The City of Edmonton has implemented a COVID-19 Vaccination Policy. Employees must be fully vaccinated against COVID-19 and provide proof of vaccination. Employees who cannot be fully vaccinated on the basis of a protected legal ground (e.g. medical, religious) may request an exemption. Please note that this policy applies to all employees—including new hires and volunteers.
If your application is successful, you will be asked to provide proof of vaccination or request an exemption.
For more information, please refer to our COVID-19 Vaccination Policy (bit.ly/3lKwb6j) and COVID-19 Vaccination Procedure (bit.ly/39BICMt).
Classification Title: Investment Committee Member
Posting Date: Oct 14, 2021
Closing Date: Nov 4, 2021 11:59:00 PM (MST)
Number of Openings (up to): 1 - Ongoing Part-time
Department: Agencies, Boards, Committees and Commissions