Public Equity Investment Officer
Oregon State Treasury (OST) is recruiting for the position of Public Equity Investment Officer. This position will be located in our Tigard, Oregon location. This position will report to the Senior Public Equity Investment Officer and is part of the Investment Division.
OST is led by the State Treasurer, a constitutional officer and statewide elected official. The Treasurer serves as the chief financial officer for the state and is responsible for the prudent financial management of state money. The Treasurer serves a four-year term, and, if reelected, may hold the position for two terms. The current State Treasurer is Tobias Read, who was sworn into office in January 2017.
OST is a highly sophisticated organization with a wide range of financial responsibilities, including managing the state’s pension fund, issuing all state debt, and serving as the central bank for state agencies. OST manages the daily investment of approximately $100 billion in assets, held in a diversified investment portfolio of domestic and international equities, fixed income securities, alternative and opportunistic investments, real estate and cash. OST also manages a banking program that processes over $250 billion in transactions annually, a debt management program responsible for issuing and monitoring approximately $10 billion in state debt, a multi-faceted 529 savings plan, and an IRA based retirement savings program for the public. The 150+ member OST staff takes great pride in their statewide and national reputation for progressive approaches to service delivery.
The Investment Division, currently comprised of 50+ individuals, is one of the five OST divisions and is responsible for managing the investment of the Oregon Public Employees Retirement Fund (OPERF), the State Accident Insurance Fund, the Oregon Short-Term Fund, the Common School Fund and numerous other state and state agency accounts. The division also manages the investment program for the state’s deferred compensation plan, advises the Oregon 529 College Savings Board on its investment activities, and serves as staff to the Oregon Investment Council (OIC). The division oversees the actual investments, which are made by a select group of outside investment managers, as well as provides internal management capabilities for select mandates comprised of common stock, fixed income and money market securities.
This position will assist on the oversight of the $30 billion OPERF Global Equity Portfolio which is comprised of 37 individual mandates (including five internally managed U.S. and non-U.S. portfolios) and spans across 21 managers. The strategic role of OPERF public equity is to generate a return premium relative to risk-free investments, while providing diversification benefits and liquidity in support of OPERF’s cash flow requirements. Return and risk policy objectives are to achieve an excess portfolio return of 0.75 percent or more above the MSCI All Country World Investible Market Index (net), over a market cycle of three to five years on a net of fee basis; and to manage active risk to a targeted annualized tracking error of 0.75 to 2.0 percent, relative to the MSCI ACWI IMI (net).
This position works closely with other members of the Public Equity Section including the Public Equity Investment Analyst, and the OIC’s outside investment consultant on managing existing investment manager relationships, managing portfolio structure, evaluating performance and assessing risk. Specific funds, investment managers and monitoring activities are assigned at the discretion of Senior Public Equity Investment Officer, and may be periodically rotated between the Equity Investment Officers.
OST offers an attractive benefit package which provides contributions toward Public Employee Benefit Board (PEBB) sponsored individual and family health and dental insurance and term life insurance. Other benefits include participation in the Oregon Public Service Retirement Plan (OPSRP), paid holidays and paid vacation, and both sick and personal leave time. Optional benefits include long- and short-term disability and participation in the Oregon Savings Growth Plan (a deferred compensation plan).