Director Private Markets, D1

Recruiter
United Nations Joint Staff Pension Fund
Location
NY
Salary
-
Posted
21 Dec 2021
Closes
20 Jan 2022
Ref
57
Job Function
Other
Industry Sector
Asset Management
Employment Type
Full Time
Education
Bachelors

 

Org. Setting and Reporting

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 heads the Office of Investment Management (OIM), which 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 in the Private Equities Section of the Office of Investment Management (OIM) of the United Nations Joint Staff Pension Fund (UNJSPF). The incumbent will report to the Chief Investment Officer.

Responsibilities

Within delegated authority, the Director of private equities, will be responsible for the following functions:

1.Contributing to the work programme of the Office of Investment Management (OIM) by:
a. Implementing strategic and tactical asset allocation strategies for Private Markets and other alternative investments based on the investment policy and strategy set by the Representative of the Secretary-General and Chief of Investment Officer (CIO), in consultation with the Investments Committee and the suggestions of the Pension Board.
b. Managing the Private Markets teams consisting of Private Equity/Real Assets and Real Estates in seeking superior performance over the respective benchmarks without undue risks by ensuring sufficient resources, proper investment strategies, and adequate working environment.
c. Recommending the investment strategies for the Private Markets and other alternative investments and deciding the investments within the authority of the Director of Investments for Private Markets.
d. Supporting the CIO in recommending investment policy and strategy to the Representative of the Secretary-General.
e. Evaluating advice and recommendations of the investment advisors, industry experts and staff of the Unit.
f. Leading the implementation of the Sustainable Investment policy for the Private Markets and other alternative investments.
g. Assessing investment performance by portfolio for Private Markets and other alternative investments.
h. Recommending guidelines for asset allocation ranges, currency holdings, and market weightings, and for strategic and tactical short-term allocations.
i. Supporting programs for staff training and development to maintain and further develop the expertise of the 10+ Unit's personnel.

2. Assists the Representative of the Secretary-General for the Investments of the UNJSPF and the CIO to report on related matters to the Investments Committee, Pension Board, ACABQ and the Fifth Committee by:
a. Preparing and supervising the preparation of reports on investment performances, structure of the portfolio, investment policies and strategies, global economic and market conditions, the investment outlook and requirements for the financing of operations.
b. Presenting and defending proposals on the financing and staffing of the Private Markets and other alternative investments to the Pension Board, ACABQ and Fifth Committee and providing answers along with explanations to the questions raised by Governing Bodies.

3. Supports the CIO in negotiating contracts with the investment advisors and external managers of the Fund along with and overseeing the said performance.

4. Represents the Office of Investment Management in internal and external fora.

5. Performs other duties as required such as participating in OIM wide projects including Asset Liability Management Studies and Benchmark Studies.

Competencies

• Professionalism: Demonstrated competence in and adherence to the standards of conduct of the profession and in the application of best practices; conceptual and analytical skills; demonstrated conscientiousness and efficiency in meeting commitments, observing deadlines and achieving results; ability to direct, review and guide the work of others, particularly in terms of substantive quality and high digital and technological awareness and proficiency. Shows pride in work and 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.
• Communication: Speaks and writes clearly and effectively; listens to others, correctly interprets messages from others and responds appropriately; asks questions to clarify, and exhibits interest in having two-way communication; tailors language, tone, style and format to match audience; demonstrates openness in sharing information and keeping people informed.
• Teamwork: Ability to establish and maintain effective working relations with people of different national, linguistic and cultural backgrounds with sensitivity and respect for diversity. Willingness to solicit inputs and learn from others, to place team agenda before personal agenda. Willingness to share credit for team accomplishments and joint responsibility for team shortcomings.

Managerial Competencies:
• Leadership: Serves as a role model that other people want to follow: empowers others to translate vision into results; is proactive in developing strategies to accomplish objectives; establishes and maintains relationships with a broad range of people to understand needs and gain support; anticipates and resolves conflicts by pursuing mutually agreeable solutions; drives for change and improvements; does not accept the status quo; shows the courage to take unpopular stands. Provides leadership and takes responsibility for incorporating gender perspectives and ensuring the equal participation of women and men in all areas of work; demonstrates knowledge of strategies and commitment to the goal of gender balance in staffing.
• Managing Performance: Delegates the appropriate responsibility, accountability and decision-making authority; makes sure that roles, responsibilities and reporting lines are clear to each staff member; accurately judges the amount of time and resources needed to accomplish a task and matches task to skills; monitors progress against milestones and deadlines; regularly discusses performance and provides feedback and coaching to staff; encourages risk-taking and supports creativity and initiative; actively supports the development and career aspirations of staff; appraises performance fairly.

Education

Advanced university degree or equivalent experience and sound knowledge of portfolio investment management and finance. A first level university degree in combination with qualifying experience may be accepted in lieu of the advanced university degree. Chartered Financial Analyst (CFA) designation is desirable.

 

Work Experience

A minimum of 15 years of proven progressively responsible and practical experience in the management of investment of well-diversified Private Markets portfolios in large sized institutions is required.

A minimum of 10 years of experience in underwriting Private Equity and/or Real Estates funds is required.

Experience in public pension funds is desirable.

Experience in managing global portfolios including emerging markets is desirable.

Experience in broader alternative investments including absolute return strategies is desirable.

Experience in financial institutions such as pension funds and endowment funds is desirable.

Languages

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.

Assessment

Evaluation of qualified candidates may include an assessment exercise which may be followed by competency-based interview.

Special Notice

• Funding for this position is subject to GA approval and therefore, the selection and onboarding of the successful candidate may be expected in early 2022.

• Staff members are subject to the authority of the Secretary-General and to assignment by him or her. In this context, all staff are expected to move periodically to new functions in their careers in accordance with established rules and procedures.

• The United Nations Secretariat is committed to achieving 50/50 gender balance in its staff. Female candidates are strongly encouraged to apply for this position.

• Appointment at the United Nations is subject to mandatory adherence to the United Nations Financial Disclosure Programme. An appointment to the Office of Investment Management (OIM) of the UNJSPF additionally requires compliance with the rules and regulations pertaining to OIM's Code of Ethics, Personal Securities, Gift and Hospitality policies.

• For this position, applicants from the following Member States, which are unrepresented or underrepresented in the UN Secretariat as of 30 November 2020, are strongly encouraged to apply: Afghanistan, Andorra, Angola, Antigua and Barbuda, Bahrain, Belize, Brazil, Brunei Darussalam, Cabo Verde, Cambodia, China, Comoros, Cuba, Democratic People's Republic of Korea, Djibouti, Dominica, Equatorial Guinea, Gabon, Grenada, Guinea-Bissau, Japan, Kiribati, Kuwait, Lao People's Democratic Republic, Lesotho, Liberia, Libya, Liechtenstein, Luxembourg, Marshall Islands, Federated States of Micronesia, Monaco, Mozambique, Namibia, Nauru, Norway, Oman, Palau, Papua New Guinea, Qatar, Republic of Korea, Russian Federation, Saint Lucia, Saint Vincent and the Grenadines, San Marino, Sao Tome nd Principe, Saudi Arabia, Solomon Islands, South Sudan, Suriname, Timor-Leste, Turkmenistan, Tuvalu, United Arab Emirates, United States of America, Vanuatu, Bolivarian Republic of Venezuela.

 

United Nations Considerations

According to article 101, paragraph 3, of the Charter of the United Nations, the paramount consideration in the employment of the staff is the necessity of securing the highest standards of efficiency, competence, and integrity. Candidates will not be considered for employment with the United Nations if they have committed violations of international human rights law, violations of international humanitarian law, sexual exploitation, sexual abuse, or sexual harassment, or if there are reasonable grounds to believe that they have been involved in the commission of any of these acts. The term “sexual exploitation” means any actual or attempted abuse of a position of vulnerability, differential power, or trust, for sexual purposes, including, but not limited to, profiting monetarily, socially or politically from the sexual exploitation of another. The term “sexual abuse” means the actual or threatened physical intrusion of a sexual nature, whether by force or under unequal or coercive conditions. The term “sexual harassment” means any unwelcome conduct of a sexual nature that might reasonably be expected or be perceived to cause offence or humiliation, when such conduct interferes with work, is made a condition of employment or creates an intimidating, hostile or offensive work environment, and when the gravity of the conduct warrants the termination of the perpetrator’s working relationship. Candidates who have committed crimes other than minor traffic offences may not be considered for employment.

Due regard will be paid to the importance of recruiting the staff on as wide a geographical basis as possible. The United Nations places no restrictions on the eligibility of men and women to participate in any capacity and under conditions of equality in its principal and subsidiary organs. The United Nations Secretariat is a non-smoking environment.

The paramount consideration in the appointment, transfer, or promotion of staff shall be the necessity of securing the highest standards of efficiency, competence, and integrity. By accepting an offer of appointment, United Nations staff members are subject to the authority of the Secretary-General and assignment by him or her to any activities or offices of the United Nations in accordance with staff regulation 1.2 (c). In this context, all internationally recruited staff members shall be required to move periodically to discharge new functions within or across duty stations under conditions established by the Secretary-General.

Applicants are urged to follow carefully all instructions available in the online recruitment platform, inspira. For more detailed guidance, applicants may refer to the Manual for the Applicant, which can be accessed by clicking on “Manuals” hyper-link on the upper right side of the inspira account-holder homepage.

The evaluation of applicants will be conducted on the basis of the information submitted in the application according to the evaluation criteria of the job opening and the applicable internal legislations of the United Nations including the Charter of the United Nations, resolutions of the General Assembly, the Staff Regulations and Rules, administrative issuances and guidelines. Applicants must provide complete and accurate information pertaining to their personal profile and qualifications according to the instructions provided in inspira to be considered for the current job opening. No amendment, addition, deletion, revision or modification shall be made to applications that have been submitted. Candidates under serious consideration for selection will be subject to reference checks to verify the information provided in the application.

Job openings advertised on the Careers Portal will be removed at 11:59 p.m. (New York time) on the deadline date.

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