The United Nations Secretary-General is responsible for the investment of the assets of the United Nations Joint Staff Pension Fund (UNJSPF). The Secretary-General has delegated this responsibility to the Representative of the Secretary-General for the investment of the assets of the UNJSPF (RSG). The RSG is, in turn, assisted in this function by the Office of Investment Management (OIM). OIM manages a $86+ billion multi-asset class, global investment portfolio, about 85% of which is actively managed in-house. Asset classes under management comprise of global equities, fixed income, foreign exchange, private equity, real estate, infrastructure, timber and commodities. OIM’s staff are all based in New York and come from over 30 countries. For more information please visit OIM's website at https://oim.unjspf.org/.
This position is located in the Fixed Income Team of OIM. The incumbent reports to the Investment Officer for the corporate bond portfolio.
Under the overall supervision of the Director of Fixed Income, the incumbent will perform the following duties:
1. Assists the Investment Officer corporate bond portfolio (IO) to manage and invest the assets of the corporate bond portfolio.
a. Balances long-term strategic goals with short-term performance objectives to outperform return benchmarks.
b. Monitors the various portfolio holdings and conducts appropriate security analysis at the direction of the IO corporate bond portfolio.
c. Complies with risk control parameters as delineated in the Investments Policy and Procedures Manual with a goal to produce the optimal investment return that avoids undue risk.
d. Integrates Principles of Responsible Investments into investment analysis and monitor both internally and externally managed holdings, subject to OIM's standards of fiduciary responsibility to the Fund.
e. Conducts portfolio review periodically and presents in the Portfolio Review Meeting.
f. Conducts portfolio analysis using risk tools and analytical tools.
2. Conducts careful and thorough investment research:
a. Performs fundamental and quantitative fixed income corporate securities analysis through financial statements, corporate announcements, market news, academic and street research, sector related performance data and other publicly available information.
b. Reviews investment research and discuss with strategists, economists, security analysts through brokerage community and the Advisors/Research Providers.
c. Analysis of ETFs, interest rates, capital structures, and corporate ESG data and conducts portfolio analysis using risk tools and analytical tools.
d. Attends investment conferences and seminars to access academia and industry experts.
e. Assists in evaluating the performance of the Fund's research providers and vendors. This includes, assisting in conducting due diligence, analysis, monitoring and appraise performance of external managers to be employed or employed by fixed income.
f. Supports the implementation of the OIM derivative projects.
3. Makes specific investment recommendations
a. Meets the Fund's four investments criteria; i.e. safety, profitability, liquidity, and convertibility,
b. Makes specific investment recommendations to achieve optimum investment performance with carefully review of the portfolio’s investment objectives and risk tolerance,
c. Presents and discusses investment recommendations to IO corporate bond portfolio as well as wider fixed income department where appropriate,
d. Participates in the discussions and development of investment recommendations for asset allocation for the Fund.
a. Assists in the accurate and timely preparation of reports to the Representative of the Secretary-General for the Investments of the UNJSPF and Director of Fixed Income when requested.
b. Assists the Director of Fixed Income in reporting on investments and related matters to governing bodies.
c. Assists in the creation of reports with financial software to aid in analytics.
• Professionalism: Demonstrated ability and sound knowledge of investing in US Fixed Income Corporate Credit Securities including ESG considerations; Must have an understanding and professional experience in analyzing corporate credit securities and issuers; Have demonstrated an understanding of the intricacies of the US credit market; Demonstrated an understanding of investment objectives and risk management of portfolios including tracking error and curve risk; Ability to conduct quantitative analysis and identify relative value opportunities; Strong written and oral communications skills; Ability to work under pressure accurately, efficiently and effectively; Having the highest level of integrity; Shows pride in work and in achievements; demonstrates professional competence and mastery of subject matter; is conscientious and efficient in meeting commitments, observing deadlines and achieving results; is motivated by professional rather than personal concerns; shows persistence when faced with difficult problems or challenges; remains calm in stressful situations. Takes responsibility for incorporating gender perspectives and ensuring the equal participation of women and men in all areas of work.
• Accountability: Takes ownership of all responsibilities and honors commitments; Delivers outputs for which one has responsibility within prescribed time, cost and quality standards; Operates in compliance with organizational regulations and rules; Supports subordinates, provides oversight and takes responsibility for delegated assignments; Takes personal responsibility for his/her own shortcomings and those of the work unit, where applicable.
• Teamwork: Works collaboratively with colleagues to achieve organizational goals; solicits input by genuinely valuing others’ ideas and expertise; is willing to learn from others; places team agenda before personal agenda; supports and acts in accordance with final group decision, even when such decisions may not entirely reflect own position; shares credit for team accomplishments and accepts joint responsibility for team shortcomings.
Advanced university degree (Master's or equivalent) in Business and Administration (MBA), Finance, Economics or related field is required. A first degree level university degree in combination with two additional years of experience in investment management may be accepted in lieu of the advanced degree.
A minimum of five years of experience analyzing corporate credit securities including ESG considerations is required.
Portfolio management analytics experience in US fixed income corporate credit markets is required.
Buy-side portfolio analyst experience is a required.
Experience in managing and trading US corporate bond portfolio exposures at a large pension fund, investment manager or insurance company is desirable.
Experience in quantitative portfolio modeling is desirable.
English and French are the working languages of the UN Secretariat. For this position, fluency in English is required. Knowledge of another UN official language is desirable.
Evaluation of qualified candidates may include an assessment exercise which may be followed by competency-based interview.
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