Director of Private Markets
DIRECTOR OF PRIVATE MARKETS
NYSIF Investments – New York City
The New York State Insurance Fund (NYSIF) is seeking a seasoned investment professional to spearhead its initial foray into Alternative Investments. The Fund’s initial focus is expected to include private equity, real estate and private credit. This represents a unique opportunity to join a dedicated team of investment professionals and help chart the Fund’s future direction in the asset class. This position reports to the Chief Investment Officer. Candidate must be a New York State resident or willing to relocate.
The Director of Private Markets will report to the CIO and assist with the design and implementation of a
strategy for private markets, real assets and other alternative asset classes for the Fund. Responsibilities
will include identifying and analyzing investment opportunities in the alternative investments area; assisting
with policy creation and implementation; preparing investment memorandums; and actively monitoring all
alternative investments. The person will assist with asset allocation, especially as it relates to sub-asset
classes within alternative investments; actively participate in vetting potential fund managers; and participate
in meetings with the Investment Committee of the Board.
Program Development and Implementation:
• Design and develop investment policy statement, objectives and procedures for Alternative Investing
• Establish a process to critically assess fund managers, their processes, and risk management
• Establish and monitor appropriate limits and constraints (Industry concentrations, etc.)
• Establish processes and guidelines for portfolio valuation
• Collaborate with external and internal constituents to ensure appropriate risk management
Sourcing Managers, Due Diligence, Investment and Monitoring Investments:
• Collaborate with Investment Consultant and internal personnel on investment opportunities
• Assist in evaluating and selecting external managers, using qualitative and quantitative due diligence
• Model and value PE and underlying investments, including possible liquidation events
• Prepare written proposals for new and existing Alternative Investments
• Analyze program strategy, and articulate strengths and weaknesses to management
• Work with Investment Consultant to develop a network of sourcing managers
• Challenge underlying investment assumptions; assess liquidity and sensitivities
• Monitor and report on manager / portfolio performance relative to expectations
• Evaluate portfolio performance, using measures such as MOIC, IRR, and PME
• Partner with legal professionals to review Limited Partner Agreements
• Lead internal and external groups to establish best practices for operation and cash management
Bachelor’s degree with strong academic qualifications; an MBA or CFA designation is preferred. Candidate should have a minimum of 7-10 years of experience in Alternative investments, with knowledge of the full spectrum of investment options, including private equity and private real estate; familiarity with leading managers, investment processes, operations, and compliance protocol; an understanding of fund structures, accounting treatment and valuation; experience in calculating rates of return, fees, carried interest allocation. Minimal travel required.
Seeking candidates with the following knowledge, skills, and abilities:
• Goal-oriented individual with solid organizational skills
• Strong quantitative skills and analytical ability
• Compelling presentation skills, and outstanding verbal and written communication skills
• A foundation in manager research, selection and monitoring, and experience with Alternative execution through primaries, secondaries, and co-investment vehicles
• Ability to work well-independently and with potential asset managers or deal teams
To Apply: Please email resume and cover letter to email@example.com. If necessary, candidates may also mail the information to: New York State Insurance Fund, 15 Computer Drive West, Albany, NY 12205.
The New York State Insurance Fund (NYSIF) was established in 1914 as part of the original enactment of the New York State Workers’ Compensation Law. NYSIF's mission is to guarantee the availability of workers’ compensation insurance at the lowest possible cost to New York employers and to provide timely, appropriate indemnity and medical payments to injured workers, while maintaining a solvent fund. Since inception, NYSIF has fulfilled the dual roles for which it was created: to compete with other carriers to ensure a fair market place and to be a guaranteed source of coverage for employers who cannot secure coverage elsewhere.
NYSIF is the largest workers’ compensation carrier in New York State and among the top 10 largest workers’ compensation carriers in the nation, insuring approximately 155,000 policyholders, with more than $2 billion in annual premium and $18 billion in assets. A self-supporting insurance carrier, NYSIF operates without taxpayer funding.
In addition to workers’ compensation insurance, NYSIF provides disability benefits coverage for off-the-job injuries to more than 61,000 New York employers. In 2018, NYSIF added Paid Family leave as a component of its disability benefits product, providing New Yorkers with job-protected, paid time away from work to care for their families.
Please note the following New York State Civil Service employment information:
• Jurisdictional classification: Exempt
• Bargaining unit: Management/Confidential
• Civil Service title: Special Investment Officer
Pursuant to Executive Order 161, no State entity, as defined by the Executive Order, is permitted to ask, or mandate, in any form, that an applicant for employment provide his or her current compensation, or any prior compensation history, until such time as the applicant is extended a conditional offer of employment with compensation. If such information has been requested from you before such time, please contact the Governor's Office of Employee Relations at (518) 474-6988 or via email at firstname.lastname@example.org.