Hedge Fund Analyst
Who We Are
The Employees Retirement System of Texas (ERS) supports state employees who have dedicated their careers to supporting Texas. Our mission is to offer competitive benefits to enhance the lives of our members. The Investment Division supports the ERS mission by achieving optimal investment returns at a prudent level of risk using a long-term perspective and a commitment to continuous improvement in our knowledge and skills. We are located in Downtown Austin, east of the University of Texas and just west of the State Capitol. We offer a competitive compensation package, 401(k) and 457 retirement plans, complete healthcare benefits, and free parking.
What You Will Do
Our Investments Division is seeking an experienced Hedge Fund Analyst to join our Hedge Funds team. In this role, you will have an opportunity to perform hedge fund investment due diligence and analysis. The Hedge Fund team oversees approximately $1.5 billion in assets. Expectations are for this amount to continually grow through working with internal teams along with new initiatives (i.e. Opportunistic Credit). Work includes the ongoing evaluation, and due diligence on hedge fund portfolio(s) as well as hedge funds generally as they are implemented in other asset classes. Provides periodic updates of managers’ strategy, business, risk profile and positioning changes to the hedge fund team and investment staff. The ideal candidate has a natural curiosity and passion for investment research and a flexible, but independent thought process for consistent results.
To apply for positions at the Employees Retirement System of Texas, a State of Texas Application and ERS Qualifications Form are required. To access these forms and for more information on how to apply, visit our career page.
Essential Functions includes, but is not limited to:
- Perform analytical research to support the hedge fund team and identify investment opportunities to develop theses and recommendations.
- Communicate directly with hedge fund managers and their senior investment staff to help assess strategy strengths, weaknesses and opportunities
- Communicate strategy and investment recommendations through written and/or oral reports and presentations
- Follow general and ongoing economic, regulatory, and political developments as well as public equity and debt markets globally.
- Maintain documentation and analysis supporting investment recommendations.
- Maintain information databases and portfolio management systems.
- Monitor and report on risk management and oversight of hedge fund investments.
- Maintain a good working relationship with other investment staff and ERS employees.
- Maintain a professional relationship with vendors, General Partners, and other Limited Partners.
- Perform ad-hoc performance analysis and risk assessment on prospective investments.
- Travel to conferences to source new opportunities and speak with other hedge fund allocators.
- Work with Hedge Fund team to create and improve tools and processes for investment decisions related to hedge fund portfolios.
- Comply with the CFA Institute Code of Ethics and Standards of Professional Conduct.
- Comply with ethics standards and restrictions on personal investment activities set forth in the ERS Investment Policy.
- Attend work regularly in accordance with agency leave and attendance policies.
- Comply with all applicable agency policies and procedures, including safety and standards of conduct.
- Performs ad hoc and special projects, and other duties as assigned.
Required Minimum Qualifications: Your application for employment must reflect how you meet each of the following minimum qualifications:
- Graduation from an accredited four-year college or university with major course work in finance, business administration, economics or a related field. (Transcripts may be requested from finalist)
- Two (2) to Four (4) years of relevant hedge fund or fund of hedge fund experience with familiarity with risk management. An ideal candidate would also have a general working knowledge of private credit strategies. Experience with private credit related strategies could substitute for hedge fund specific work experience. Private credit experience does not include experience with private equity, private real estate, and venture capital.
- Two (2) years of experience with hedge fund portfolio design, construction, due diligence, allocation, implementation and monitoring.
- Two (2) years of experience using Bloomberg, Excel, Word, PowerPoint, and various statistical programs.
Preferred Qualifications: Your application for employment should reflect how you meet the following preferred qualifications:
5. Master’s degree in business, finance, economics, or statistics.
6. Chartered Financial Analyst (CFA) designation or current participation in the CFA program. If striving to complete the Chartered Financial Analyst exam then at a minimum the candidate should have completed Level I. Verification will be required for future employment.
7. Chartered Alternative Investment Analyst (CAIA) designation or current participation in the CAIA program. If striving to complete the Chartered Alternative Investment Analyst (CAIA) exam then at a minimum the candidate should have completed the first part. Verification will be required for future employment.
8. Knowledge of Backstop Solutions is viewed as a preferred skill.
PLEASE NOTE: All applications must contain complete job histories, which includes job title, dates of employment, name of employer, supervisor's name and phone number and a description of duties performed. If this information is not submitted, your application may be rejected because it is incomplete. Resumes do not take the place of this required information.
Other Information: Work is performed in an office environment. This position requires travel up to 10% of time. This position may require access to privileged, confidential, or sensitive data. ERS will conduct either a TXDPS or FBI criminal history check on all new hires. For more information about this policy inquiries can be made to email@example.com.
Military Occupational Specialty Codes:
There are no equivalent Military Occupational Specialty Codes related to this position. Please contact Human Resources at firstname.lastname@example.org with questions or for additional information.
How to Apply: Submit a State of Texas Application for Employment with an ERS Qualifications Form & other required materials, if any, to the ERS, Human Resources Office by 5 p.m. CST on the closing date. Resumes will be accepted only as supplements to an application. Please contact a Human Resources representative if you need assistance or require accommodation during the application process.
Fax: (512) 867-3161 Relay Texas TDD: (800) 735-2989