About the Department
The mission of the City's Retirement Services Department is to provide quality services in the delivery of pension and related benefits and maintain financially sound pension plans. The Office of Retirement Services (“ORS”) oversees the investment of assets and administers the benefits for the City of San Jose employees. ORS has approximately 40 positions, across five functional work groups within the office: Investments, Benefits, Accounting, Information Technology, and Administration. The investment staff, in conjunction with the Boards of Administration and Investment Committees, drives the investment initiatives for the pension plans.
Position and Duties
The Office of Retirement Services Investment Program is seeking an exceptionally talented and high-performing individual to manage the operational activities of the $5.3 billion in multi-asset portfolios. The Financial Analyst will work closely with the Chief Investment Officer (“CIO”), Investment Operations Supervisor (“IOS”) and Investment Officers. This is a unique opportunity to join a highly collaborative, professional, and forward-thinking team.
The Office of Retirement Services is recruiting to fill one (1) vacant Financial Analyst position.
Duties include, but are not limited to the following:
- Analyze and prepare investment fees and expense reports.
- Complete monthly cash flow analysis and projections.
- Monitor account holdings and perform compliance audits in accordance with investment policy, prepare and summarize exception reports for CIO/IOS/Investment Officers’ review.
- Custodian oversight and monthly bank and manager reconciliations.
- Prepare capital calls and other funding initiatives.
- Support annual audits and the development of annual financial reports.
- Monitor and prepare trading cost analysis reports.
- Monitor proxy voting and corporate/class actions and take appropriate action.
- Monitor contract status, assess and report on service level of outside service providers, ensures that expiring contracts are renewed in a timely manner, and coordinate legal and contracting processes.
- Develop processes for monitoring and review of investment product reporting forms (e.g. annual reports, K-1s, ADVs).
- Provide ongoing compliance investigations and audits of existing managers (i.e. periodic checks of FINRA/SEC registrations, etc.).
- Review investment committee and board agendas and official minutes for accuracy and completeness.
- Maintain document management system.
- Supervise staff on certain duties.
- Perform other duties as assigned.
This recruitment may be used to fill multiple positions in this, or other divisions or departments. If you are interested in employment in this classification, you should apply to ensure you are considered for additional opportunities that may utilize the applicants from this recruitment.
- Education: Completion of a Bachelor's Degree from an accredited college or university in Business, Finance, Accounting, (Economics or Math), or a closely related field including a minimum of eighteen semester units of advanced college course work in a combination of the following: Business or Governmental Finance, Accounting, Economics, Statistics, Quantitative Methods, or Governmental Financial Management.
A Masters Degree in Business Administration, Finance, or other related field is highly desirable.
- Experience: Four (4) years of increasingly responsible professional level analytical and/or operations experience in financial, fiscal, quantitative work, or [investment (middle and/or back-office)] is required.
Employment Eligibility: Federal law requires all employees to provide verification of their eligibility to work in this country. Please be informed that the City of San Jose will NOT sponsor, represent or sign any documents related to visa applications/transfers for H1-B or any other type of visa which requires an employer application.
The ideal candidate will possess the following competencies, as demonstrated in past and current employment history. Desirable competencies for this position include:
Job Expertise - Demonstrates knowledge of and experience with professional/technical principles and practices of investment management, investment middle and/or back-office, or investment consulting; Citywide and Departmental procedures/policies and federal and state rules and regulations.
Analytical Thinking – Approaches a problem or situation by using a logical, systematic, sequential approach.
Collaboration - Develops networks and builds alliances; engages in cross-functional activities.
Communication Skills - Effectively conveys information and expresses thoughts and facts clearly, orally and in writing; demonstrates effective use of listening skills; displays openness to other people's ideas and thoughts.
Computer Skills - Experienced with common business computer applications including but not limited to: MS Outlook, MS Word, MS PowerPoint, MS Access, and MS Excel.
Initiative - Exhibits resourceful behaviors toward meeting job objectives; anticipates problems, is proactive, and avoids difficulties by planning ahead; displays willingness to assume extra responsibility and challenges; pursues continuing education opportunities that promotes job performance.
Problem Solving - Approaches a situation or problem by defining the problem or issue; determines the significance of problem; collects information; uses logic and intuition to arrive at decisions or solutions to problems that achieve the desired outcome.
Teamwork & Interpersonal Skills - Develops effective relationships with co-workers and supervisors by helping others accomplish tasks and using collaboration and conflict resolution skills.
The selection process will consist of an evaluation of the applicant's training and experience based on the application and responses to the Job Specific Questions. Only the candidates whose backgrounds best match the position will be invited to proceed in the selection process. Additional phases of the selection process will consist of one or more interviews, one of which may include a practical/writing exercise.
The first review of applications will be on September 15, 2017. You must apply directly on the City of San Jose website in order to be considered.
You will be prompted to answer the following job-specific questions during the online application process. Please note that there is a 4,000-character limit, including spaces, for each text response.
- Describe your experience in professional level analytical and/or operations experience in financial, fiscal, quantitative work, investment middle and/or back-office, or investment consulting related work. Include where you obtained this experience and the number of years performed.
- Do you have experience with fund accounting and/or custodial bank accounting? If yes, please describe your experience.
- Do you have experience in onboarding an investment manager? If yes, please describe the operational steps involved in funding a new investment.
- Describe a situation when you had to solve a problem or implement a new idea. What was the outcome?
You must answer all job-specific questions in order to be considered for this vacancy or your application will be deemed incomplete and withheld from further consideration.
If you have questions about the duties of these positions, the selection or hiring processes, please contact Ashley Lancaster at Ashley.Lancaster@sanjoseca.gov.
For more information about Retirement Services, click here.
For information about City of San Jose Benefits, click here.
The application deadline is 11:59 PM PDT on the final filing date. Please allow adequate time to complete the application and submit before the deadline or the system may not save your application. If your online application was successfully submitted, you will receive an automatic confirmation email to the email address you provided. IF YOU DO NOT RECEIVE THE CONFIRMATION, please email CityCareers@sanjoseca.gov and we will research the status of your application. Please contact Human Resources at (408) 535-1285, or Human.Resources@sanjoseca.gov if you have any questions.