Investment Officer, Private Equity
Oregon State Treasury is recruiting for the position of Investment Officer, Private Equity. The primary purpose of this position is to support the day to day investment and administrative activities of the Private Equity Portfolio, and to share the ongoing oversight of various limited partnerships with the Director of Private Markets.
This position is based out of Tigard. The salary range for this position is $159,756 - $247,632 annually. For this position there is additional potential of up to 30% of base compensation. This position is eligible for relocation reimbursement.
Our top priorities during this public health crisis are employee health and ability to meet our essential responsibilities. We are taking safety precautions while continuing our business operations in order to keep employees safe and prevent the spread of COVID-19.
Oregon State Treasury (OST) is led by Tobias Read, State Treasurer, a constitutional officer and statewide elected official. OST is an 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, private equity and cash equivalents. OST also manages a banking program that processes over $250 billion in transactions annually, and a debt management program responsible for issuing and monitoring approximately $10 billion in state debt. 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 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 portfolio management capabilities for select asset class mandates.
Our Values and Principles
We are committed to cultivating a culture that is diverse, inclusive, and respectful. We value and support the collective differences in who we are, it is what makes us stronger, and it helps us learn and grow. We celebrate the fact that everyone comes to the table with individual differences – shaped by backgrounds, experiences, cultures, thoughts, and ideas. We are devoted to prioritizing equity and addressing racial disparities, as well as ensuring a safe and accessible working environment for all. We believe all of this empowers our success and makes Oregon State Treasury an excellent place to work.
- Conducts independent evaluation of investment proposals submitted for possible portfolio inclusion.
- Receives and reviews offering memoranda, takes frequent meetings with prospective general partners, managers and placement agents and determines whether further review of proposed investments is appropriate.
- Screens prospective investments and works with the Director of Private Markets on favorable recommendations for further evaluation.
- Performs due diligence and works with Oregon Investment Council (OIC) advisory firms on their due diligence efforts prior to OIC recommendation for commitment approval.
- Manages relationships with existing general partners. Meets frequently with existing general partners to discuss individual portfolio company and fund-level performance.
- Works with other limited partners to discuss and resolve partnership issues of mutual interest which may entail initiating action consistent with partnership’s terms and conditions.
- Monitors partnership compliance, fee and performance metrics using reports from, and discussions with, advisors and general partner personnel, and evaluates findings on both an absolute and relative basis.
- Uses various systems to analyze and evaluate the overall Private Equity Portfolio, individual partnerships and specific portfolio companies.
Benefits of Joining OST
- Employee premium share at 5% or 1%, for medical, dental, vision, and basic employee life;
- Paid leaves, such as vacation, personal business, holidays, sick leave, and special holiday leave;
- Participation in the Public Employees Retirement System (PERS);
- Support with training and development so employees have the tools they need to reach their fullest potential;
- Employees may be eligible to receive loan forgiveness under the Public Service Loan Forgiveness Program (PSLF);
- Optional benefits include optional life, short & long term disability, accidental death and dismemberment, Oregon Savings Growth Plan (deferred compensation plan), flexible spending accounts, long term care insurance, employee assistance program, weight watchers, and more!
You must have the following to qualify for this position:
- A bachelor’s degree in business or finance, or any degree demonstrating the capacity for investment knowledge and skill.
- Seven years of investment management experience, including three years of asset/portfolio management experience.
- MBA or similar graduate-level degree, Chartered Financial Analyst or Chartered Alternative Investment Analyst designation may substitute for two of the seven years' experience requirement.
- Knowledgeable of private equity investment strategies and markets, as well as a familiar with institutional managers in private equity investment management;
- Experienced selecting, monitoring, and managing financial relationships;
- Able to balance priorities as project timelines dictate;
- Adept at written and verbal communication, as well as public speaking;
- Able to build and utilize a financial model to draw conclusions or highlight issues from track record data;
- Flexible, patient, and keen with problem solving;
- Excellent with interpersonal skills, as well as emotional quotient/relationship management skills;
- Proficient with analytical skills, including quantitative and qualitative;
- Knowledgeable of financial accounting concepts and business models across sectors; and
- Able to travel regularly and on an ad-hoc basis, including travel outside the US (once travel resumes).
How to Apply
We will accept applications through the closing date; however, we may close this recruitment early if we receive a well-qualified pool. If interested, please apply early.
In order to apply and be considered for this position, you are required to upload your resume and a cover letter that describes:
- How you obtained knowledge of private equity investment strategies and markets, as well as familiarity with institutional managers in private equity investment management, and your plan to continue advancing your knowledge;
- Your experience selecting, monitoring, and managing financial relationships, as well as your investment analysis skills;
- Your ability and experience with communicating complex elements of private equity management (include how you articulate key issues to multiple constituencies);
- How your educational background has prepared you for this position; and
- Your demonstrated commitment to integrity, ethics, and independence, as well as your familiarity with CFA Institute Standards of Practices Handbook.
- Prospective employees are subject to an extensive background check that may include, but not be limited to, validation of all application materials, prior employment and personal references, credit history, driving records and fingerprint-based state and federal criminal and civil records. Adverse background data may be grounds for immediate disqualification.
- OST does not offer visa sponsorships, and within three days of hire, the successful candidate will be required to complete the U.S. Department of Homeland Security form I-9, confirming authorization to work in the United States.
- Eligible veterans who meet the qualifications will be given veterans' preference. To receive preference you MUST attach appropriate documentation as outlined by the Department of Administrative Services at the following website: Veterans Resources. You may also call the Oregon Department of Veterans' Affairs at 1-800-692-9666
- OST is an equal opportunity, affirmative action employer committed to a diverse workforce.