Investment Officer of Private Credit

The San Francisco Employees’ Retirement System ("SFERS") offers an exceptional opportunity for the right candidates to serve this historic, well established City Department by engaging in interesting and rewarding mission critical work. Established in 1889 as a fund for families and orphans of firefighters and police officers, today the San Francisco Employees’ Retirement System serves more than 75,000 active, vested, and retired employees of the City and County of San Francisco and their survivors.

Our Mission
The San Francisco Employees’ Retirement System is dedicated to securing, protecting, and prudently investing the pension trust assets, administering mandated benefits programs, and providing promised benefits to the active and retired members of the City and County of San Francisco.

Specific information regarding this recruitment process is listed below:

Application Opening: November 7, 2022
Application Deadline: Open Until Filled
Annual Salary: $122,200 - $156,026 (Range A)
Recruitment ID: 127288 – RTF0127286

This job announcement will not close before November 21, 2022. Interested applicants are encouraged to apply as soon as possible.

Appointment Type
This permanent exempt position is excluded by the Charter from the competitive Civil Service Examination process and shall serve at the discretion of the Appointing Officer. 

Role description

The Private Credit Investment Officer (IO) conducts work with meaningful oversight from the Director and Associate Portfolio Manager of Private Credit. The IO is responsible for the following and will keep the senior investment staff informed on the relevant issues: 

1. Responsible for representing SFERS with distinction and class to external managers/General Partners, investment consultants and other stakeholders.
2. Work with the Private Credit Team on reviewing and monitoring portfolio and individual investment performance, and collaborating as necessary with SFERS’ custodian and investment consultants.
3. Responsible for cash management related to investments including reviewing and approving capital calls, and conducting other operational functions related to the Private Credit portfolio.
4. Responsible for overseeing the data collection and aggregation process for the Private Credit portfolio and benchmarks including performance, exposures, and other risk metrics.
5. Responsible for the organization and maintenance of investment manager/limited partnership agreements, subscription documents, side letters, offering memorandums, quarterly reports and letters, meeting notes and other investment documents.
6. Assist with the review and evaluation of key partnership terms and documents, and help complete due diligence on a manager’s offering memorandum, subscription documents, and other materials related to an existing or prospective investment.
7. Assist in writing detailed investment recommendations and reports for review and approval from senior investment staff.
8. Assist with the day-to-day relationships with external managers/General Partners, consultants, custodians, and service providers.
9. Take direction from senior investment staff and complete assigned tasks accurately and on time.
10. Assist with the monitoring of distributions from external managers, furnishing capital calls to external managers, and other functions related to managing relationships with external managers.
11. Take direction from senior investment staff and complete assigned tasks accurately and on time.
12. Provide administrative and operational support as necessary.

How to qualify

Minimum Qualifications

1. Possession of a baccalaureate degree from an accredited college or university with major coursework in finance, economics, business administration, accounting, statistics, or similar field; AND
2. Three (3) years of investment experience with an investment management firm, pension plan, university, endowment, foundation, corporation, family office, or consulting firm.

Substitution

• Possession of a graduate degree in Business Administration, Finance, Statistics, Investment Management, Economics or similar field, or possession of the Chartered Financial Analyst designation, may be substituted for an undergraduate degree in a different field than described above.
• Two (2) years of investment management experience at a position equivalent to an Investment Officer or higher with an investment management firm, pension plan, university, endowment, foundation, corporation, family office, consulting firm or other investment institution with at least $1 billion in assets, or seven years of such responsibility at a firm of any size, may substituted for an undergraduate degree in a different field than described above.

Desirable Qualifications

• Knowledge and prior experience with alternatives, specifically private credit and/or other private markets and/or absolute return, and/or prior knowledge and experience in fixed income.
• Prior experience in reviewing, evaluating, and negotiating complex partnership and contractual agreements.
• Strong organizational and analytical skills with a demonstrated proficiency with Microsoft Excel, Word, and PowerPoint.
• Strong writing and presentation skills with a genuine interest in the subject matter. 
• Strong interpersonal and communication skills (written and verbal).
• Excellent attention to detail and commitment to delivering the highest quality work.
• Ability to work in a fast-paced environment and under the pressure of tight deadlines. 
• Ability to effectively prioritize and handle multiple, time-sensitive tasks.
• Highly self-motivated and hardworking with an ability to work and think independently as well as in a collaborative, team-oriented environment.
• High level of professionalism and an ability to build networks and positive working relationships with key internal and external contacts. 
• Sound judgment, integrity, and personal values. 

Verification

Applicants may be required to submit verification of qualifying education and experience at any point during the recruitment and selection process. If education verification is required, information on how to verify education requirements, including verifying foreign education credits or degree equivalency, can be found at https://sfdhr.org/how-verify-education-requirements.

Note: Falsifying one’s education, training, or work experience or attempted deception on the application may result in disqualification for this and future job opportunities with the City and County of San Francisco.

All work experience, education, training, and other information substantiating how you meet the minimum qualifications must be included on your application by the filing deadline. Information submitted after the filing deadline will not be considered in determining whether you meet the minimum qualifications.

Resumes will not be accepted in lieu of a completed City and County of San Francisco application. 

Applications completed improperly may be cause for ineligibility, disqualification, or may lead to lower scores.

Selection Procedures

Applications will be screened for relevant qualifying experience. Additional screening mechanisms may be implemented in order to determine candidates’ qualifications. Only those applicants who most closely meet the needs of the Agency will be invited to participate in the selection process. Applicants meeting the minimum qualifications are not guaranteed advancement in the selection process.

What else should I know?

• Information About The Hiring Process
• Conviction History
• Employee Benefits Overview  
• Equal Employment Opportunity 
• Disaster Service Worker
• ADA Accommodation
• Seniority Credit in Promotional Exams
• Veterans Preference
• Right to Work
• Copies of Application Documents
• Diversity Statement

HOW TO APPLY

All applicants must submit a resume and completed job application (all sections, including Experience and Education, must be completed) in order to be considered. Resumes will not be taken as a substitute for completing the application. 

Applications for City and County of San Francisco jobs are only accepted through an online process.

Visit careers.sf.gov and begin the application process.

• Select the “I’m Interested” button and follow instructions on the screen

Applicants may be contacted by email about this recruitment and, therefore, it is their responsibility to ensure that their registered email address is accurate and kept up-to-date. Also, applicants must ensure that email from CCSF is not blocked on their computer by a spam filter. To prevent blocking, applicants should set up their email to accept CCSF mail from the following addresses (@sfgov.org, @sfdpw.org, @sfport.com, @flysfo.com, @sfwater.org, @sfdph.org, @asianart.org, @sfmta.com, @sfpl.org, @dcyf.org, @first5sf.org, @famsf.org, @ccsf.edu, @smartalerts.info, and @smartrecruiters.com).

Applicants will receive a confirmation email that their online application has been received in response to every announcement for which they file. Applicants should retain this confirmation email for their records. Failure to receive this email means that the online application was not submitted or received.

If you have any questions regarding this recruitment or application process, please contact the recruitment analyst, Tess Bobila at tess.bobila@sfgov.org.

All your information will be kept confidential according to EEO guidelines.

CONDITION OF EMPLOYMENT:  All City and County of San Francisco employees are required to be fully vaccinated against COVID-19 as a condition of employment. Someone is fully vaccinated when 14 days have passed since they received the final dose of a two-shot vaccine or a dose of a one-shot vaccine. Any new hire must present proof of full vaccination status to be appointed. Any new hire who will be routinely assigned or occasionally enter High-Risk Settings, must provide proof of having received a COVID-19 booster vaccine by March 1, 2022, or once eligible.

The City and County of San Francisco encourages women, minorities and persons with disabilities to apply. Applicants will be considered regardless of their sex, race, age, religion, color, national origin, ancestry, physical disability, mental disability, medical condition (associated with cancer, a history of cancer, or genetic characteristics), HIV/AIDS status, genetic information, marital status, sexual orientation, gender, gender identity, gender expression, military and veteran status, or other protected category under the law.

Please apply to this position using the job announcement posted to SFDHR's website by clicking here.