Fixed Income Transition Strategy Consultant

United Nations
New York, USA
17 Nov 2021
17 Dec 2021
Employment Type
Full Time

Result of Service

The consultant is expected to deliver the services in supporting the Office of Investment Management in establishing the transition plan into the new Strategic Asset Allocation (SAA) for the overall fixed income portfolio and sub-sector portfolios and implanting the plan.

Expected duration

The project should take a total of 6 months starting as soon as possible. There will not be any travel required.

Duties and Responsibilities

The consultant will report to the Chief Investment Officer (CIO) in the Office of Investment Management (OIM) of the United Nations Joint Staff Pension Fund (UNJSPF) and work under their overall guidance. The detailed responsibilities of the Consultant are as follows: • Support the Chief Investment Officer (CIO), the Director for the Fixed Income, and the Transition Project team in setting the Transition Strategy and achieving successful implementation of the new Strategic Asset Allocation (SAA) by taking into account all elements including, but not limited to, the internal resources, market risks, transition costs (both direct and indirect), timeline, practicality, and sustainability. • Review the opportunities and tools in seeking efficient transition management and enhancement of the risk-return profile of the overall Fixed Income portfolio which values approximately USD 24 billion dollars. Currently, the Fixed Income portfolio is managed internally. The Fixed Income team has 8 established posts with one vacancy. • Analyse and evaluate requirements while providing functional expertise and guidance throughout the implementation project. • Review the Fixed Income strategies and recommend alternate strategies in case there are difference in opinions with the team. • The target of the implementation is 01 March 2022. • Work with the UNJSPF/OIM’s Investment Management teams, Risk, Compliance, Legal, Procurement, Business Applications, Operations and Information Technology to implement the project. • Liaise with external entities (Transition managers, Brokers, Bloomberg, Risk platforms, Yieldbook, Custodian) to provide any information and assistance required for the successful implementation of the overall program. • Evaluate outcomes of the project as established during planning phase. • Conduct post-implementation reviews of the project to incorporate lessons learned.

Qualifications/special skills

Academic Qualifications: Advanced university degree (Master’s degree or equivalent) in a business such as finance, economics, or related field. An advanced degree or industry certification such as the CFA or CAIA is a strong plus. A first-level university degree in combination with qualifying experience may be accepted in lieu of the advanced university degree. Experience: • The Senior Consultant is expected to have a minimum of 10 years of experience managing and leading the implementation of Investment Management Transition projects for Fixed Income including US Treasuries, Mortgage Backed Securities, US Investment Grade Corporates, US Government Related Securities, and Emerging Markets Debts. • Experience as a consultant having worked on similar projects with one of the major consulting firms globally. Ideally have the practical experience with large asset managers focusing on Fixed Income. • Experience as a consultant or Head Portfolio Manager or Head Rate Strategist for Fixed Income as it relates to creating and building new Fixed Income portfolios with specific benchmarks and/or modifying/adding new benchmarks. • A minimum of 15 years of extensive experience and understanding of benchmarking, liquidity, rules and regulations, instruments, and electronic trading systems for Fixed Income. • A minimum of 15 years of experience, with proven track record in managing fixed income portfolio(s) against Bloomberg US aggregate index as well as Global Emerging Market Index. • A strong track record of real experience with similar projects, showing detailed process, analysis and actual implementation timeline and success. • Experience with Buy side – preferably on large Long only Investment Management firms/pension/retirement funds/asset managers with similar with or larger size than UNJSPF. • Experience in the senior positions at the Fixed Income such as the Chief of Fixed Income is highly desirable. • Experience with large and program trades as well as ETFs • Experience gathering client portfolio requirements (Asset classes, sub-classes), inbound reconciliation; portfolio and financial setup • Experience in developing/implementing/optimizing business processes • Strong leadership skills and supervisory experience • Analytical and integration experience involving complex data sets • Extensive public/private Investment Management experience, primarily in Equities and Fixed Income with knowledge in the Private Assets space • A strong record of customer service. The implementation consultant must understand customer needs and build effective relationships. The candidate must be able to convey plans, issues and concerns to clients and team members in a clear, logical and concise manner. • Be a strong team player who exhibits excellent communication and written skills • Strong time management and problem solving / analytical skills. Language: • Excellent knowledge of English, including the ability to set out a coherent argument in presentations and group interactions. • Capacity to communicate fluently with different stakeholders and UN staff members. • Computer skills: Microsoft Office 365 products, SharePoint, MS Project, Bloomberg (AIM OMS, PORT PMS), ITG TCA, MSCI, MSCI Barra.

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