MSBI Investment Officer

The Minnesota State Board of Investment is responsible for the investment management of various retirement funds, trust funds, and cash accounts for the State of Minnesota. The Minnesota State Board of Investment (SBI) is established by Article XI of the Minnesota Constitution to invest all state funds. Its membership as specified in the Constitution is comprised of the Governor (who is designated as chair), State Auditor, Secretary of State, and Attorney General.

Who May Apply:  Open to all qualified job seekers

Date Posted:  05/21/2021

Closing Date:  until filled

Hiring Agency/Seniority Unit:  Investment Board

Division/Unit:  State Board Of Investment(SBI)

Work Shift/Work Hours:   Day Shift

Days of Work: Monday - Friday

Travel Required:  Yes, up to 20%

Salary Range: $134,446 - $190,593/ annually

Classified Status:  Unclassified

Connect 700 Program Eligible:  No

Job Summary

The SBI is responsible for the management of over $115 billion in assets from state and public employees invested in the defined benefit, defined contribution, and deferred compensation plans, non-retirement accounts, and state cash accounts. The Investment Officer will evaluate investment performance and reconcile results, contribute to portfolio risk management efforts, and conduct investment research, analyses and diligence used in hiring and monitoring investment managers. The candidate will work with other senior investment staff and across the entire SBI.

This position is responsible for the following:

• Serve as the performance measurement and reporting expert within the SBI for all performance calculation and performance presentation matters
• Curate and manage all performance reporting utilized both internally by investment staff and externally by the Board and other stakeholders, including the Board book materials, Annual Report and other ad hoc reporting
• Ensure data accuracy through the implementation and management of performance reconciliation processes; validate results and conduct research to resolve discrepancies
• Act as liaison between the SBI and its Custodian, Consultants and other external relationships.
• Conduct research projects on fund-level topics or specific manager or sub-asset class research as assigned by investment staff.
• Develop a comprehensive understanding of the external performance measurement and risk analysis resources used by investment staff and assist in optimizing the use of those resources.
• Develop and foster a network with peers to compare/contrast industry best practices in performance analysis.
• Aid in the monitoring of existing manager relationships and conducting diligence on prospective investment across public and private asset classes.
• Research innovative investment strategies and investment topics to contribute to the ongoing development and enrichment of the SBI’s investment programs.

The successful candidate must possess the following knowledge, skills and abilities to be successful in this position:

• Training in the principles and practices of accounting, economics, quantitative analysis, and investment analysis and portfolio management. Knowledge of capital markets, portfolio management practices and investment strategies.
• Ability to communicate clearly and concisely in both written and oral presentations.
• Ability to read, comprehend and synthesize extensive published research material concerning such technical disciplines as economics, quantitative modeling techniques, financial analysis and portfolio management.
• Proficiency with building and maintaining Excel spreadsheets, including financial models, data analysis and dashboards.
• Ability to work independently with limited supervision; ability to work under tight deadlines and consistently produce accurate and timely information.
• Strives for personal growth, enjoys and seeks out challenges. Shows desire for maintaining sharpness of skill level. Has a strong sense of commitment to the job.

Minimum Qualifications

• A Bachelor’s Degree.
• At least three (3) years of professional experience as an analyst, researcher, consultant or similar position within finance or investment setting.
• Intermediate-to-advanced skill level in Microsoft Excel.
• Successful completion, or enrollment in the program and continuous progress towards completion, of the Chartered Financial Analyst (CFA) program will be required of the successful applicant.

Preferred Qualifications

• At least three (3) years of experience as an analyst, researcher consultant or similar position within an institutional investment management or plan sponsor setting, ideally with some experience in calculating and reconciling investment performance.
• Progress toward an advanced degree and/or CFA designation.
• Experience with investment-related analytical tools, including Bloomberg, Factset, eVestment and Morningstar.
• Prior experience working with a Custodial Bank or Administrator on behalf of a plan sponsor/allocator or consultant.

Additional Requirements

It is the policy of the SBI that all employees submit to a background investigation prior to employment. The background check may consist of the following components: 

• SEMA4 Records Check (applies to current and past State employees only) 
• Criminal History Check 
• Employment Reference Check 
• Social Security and Address Verification 
• Education Verification
• Driver's License Check

Why Work For Us

The State of Minnesota also has over 100 state agencies, so the possibilities of serving our great state through a multitude of programs and roles are endless! The State of Minnesota also has our own Enterprise Talent Development department to keep your skills and knowledge sharp. You may also qualify for Public Service Loan Forgiveness, which forgives the remaining balance of your student loans after 120 qualifying monthly payments!

What’s also great about this job is the competitive wage and comprehensive benefits package including low cost/high value medical and dental insurance, employer paid life insurance, retirement plan, health care savings plan, generous vacation and sick leave, paid holidays, and numerous tax-deferred benefit options (e.g., 457B investment plan, long and short-term disability plans, etc.). Benefits offered are:

• Medical and dental insurance
• Life insurance
• 11 paid holidays per year
• Parental leave
• Pension and retirement saving plan
• Vacation and Sick leave
• Long and short term disability insurance

How to Apply

Click "Apply" at the bottom of the page at the following link: https://careers.mn.gov/psp/hcm92apc/MNCAREERS/HRMS/c/HRS_HRAM.HRS_APP_SCHJOB.GBL?Page=HRS_APP_JBPST&FOCUS=Applicant&SiteId=1001&JobOpeningId=45961&PostingSeq=1&languageCd=ENG

If you have questions about applying for jobs, contact the job information line at 651-259-3637.

For additional information about the application process, go to http://www.mn.gov/careers.

Contact

If you have questions about the position, contact Annie Mueller at annie.mueller@hr.mnretirement.us

AN EQUAL OPPORTUNITY EMPLOYER

The State of Minnesota is an equal opportunity, affirmative action, and veteran-friendly employer. We are committed to providing culturally responsive services to all Minnesotans. The State of Minnesota recognizes that a diverse workforce is essential and strongly encourages qualified women, minorities, individuals with disabilities, and veterans to apply.

We will make reasonable accommodations to all qualified applicants with disabilities. If you are an individual with a disability who needs assistance or cannot access the online job application system, please contact the job information line at 651-259-3637 or email careers@state.mn.us. Please indicate what assistance you need.