Investment Officer – Global Income Strategies

Position Title: Investment Officer – Global Income Strategies

Salary: $110,000.00 - $150,000.00

Please note that this position is open until filled.
Candidates for this role are being reviewed as they apply.

The Teachers’ Retirement System of the State of Illinois, with $65.2 billion in assets, is searching for an Investment Officer – Global Income Strategies, to join this statewide, public retirement system. TRS is one of the 30 largest public pension plans in the country. The System provides benefits to teachers employed by all Illinois public, common, and charter school districts located outside the city of Chicago. The Illinois Pension Code contains the laws relating to our creation, benefits, and administration.

Working for the Teachers’ Retirement System is a fantastic opportunity for an investment professional looking make a significant, positive difference in the lives of others by building a secure future for the teachers of Illinois. We take great pride knowing that all the work we do is for the benefit of our membership.

Position Overview:

TRS is in search of an experienced Investment Officer to help manage our Global Income Strategies (GIS) assets. Preferred candidates have experience working with GIS assets, which include public debt, private credit, and hybrid, bespoke Separately Managed Accounts (SMA).

Incumbents that would be most successful in this role are skilled at conducting thorough analyses and due diligence while being able to make quantifiable recommendations based on the research conducted. A high degree of skill in oral and written communications is essential for this position. The GIS asset class is targeted at 26% of the total TRS portfolio, representing a current market value of nearly $17 billion. The Investment Officer will provide leadership and oversight to the current portfolio, as well as source and due diligence potential relationships through public searches and opportunistic private credit pipelines. TRS has a world-class portfolio across debt instruments, including public and private credit portfolios.

Key Responsibilities:

• Manage, monitor, and evaluate public and private debt managers with a strong understanding of underlying debt instruments, current market events, and the macro environment
• Research the investment performance and portfolio characteristics of existing and prospective investment management relationships and asset class structures across multiple portfolio sleeves including cash, low duration, beta core plus, emerging market debt (EMD), bespoke SMAs, and private credit (Direct Lending, Special Situations, Specialty Finance, Structure Credit, Real Estate, Real Assets, and Structured Equity)
• Evaluate performance and portfolio characteristics to assure compliance with the directives of the Trustees regarding investment objectives and constraints
• Prepare analyses, evaluations, and proposals for investments in new potential investment managers and structures, including conducting on-site due diligence
• Evaluate the qualifications of prospective investment management relationships in accordance with investment policy, asset allocation directives and mix, diversification strategies and guidelines controlling risk/return characteristics for the global income portfolio
• Prepare statistical and narrative reports regarding the investment portfolios within the global income asset class, market factors, alternative investment prospects, and investment industry practices
• Proactively research investment approaches, asset mixes, and portfolio management techniques to provide for potential incremental return to TRS’s individual assets and at the total fund level
• Interact at the highest level with outside managers in direct management of the relationship to help facilitate private credit debt flow and co-investments
• Represent TRS on partnership advisory panels (LPACs) and within the industry at various conferences to network and source mandates
• Manage internal review of documentation and provide logistical leadership for the relevant oversight committee within the global income asset class
• Work effectively in existing team structure and collaborate with various asset classes and content experts including Public Equity, Private Equity, Real Estate, Diversifying Strategies, and Risk and Compliance
• Review and structure legal documentation with internal and external counsel, including NDAs, IMAs, LPAs, and amendments
• Assist emerging manager program staff, as necessary, in preparing analyses, due diligence, evaluations, and proposals for administering emerging manager investment activity
• Collaborate with various consultants on monitoring the portfolio and conducting due diligence
• Leverage knowledge of information systems such as State Street, BlackRock Aladdin, Bloomberg terminal, Wilshire Compass, and consultant data bases among others
• Assist with developing the skillsets of investment analysts within the investment program
• Perform other duties as assigned or required

Minimum Qualifications

• A bachelor’s degree in finance, accounting, economics, business administration or related field is required
• A Chartered Financial Analyst (CFA) designation or credible progress toward earning the CFA charter is preferred
• Requires a minimum of two years of investment experience, ideally focused within Global Income Strategies, Public Fixed Income, or Private Credit
• A background in due diligence and sourcing is preferred

Benefits

• State health, dental, life, and vision insurance
• 12-25 vacation, 12 sick, and 3 personal time days of compensated time
• Teachers’ Retirement System pension
• Deferred compensation plan

TRS is an equal opportunity employer. All aspects of employment including the decision to hire, promote, discipline, or discharge, will be based on merit, competence, performance, and business needs. We do not discriminate on the basis of race, color, religion, marital status, age, national origin, ancestry, physical or mental disability, medical condition, pregnancy, genetic information, gender, sexual orientation, gender identity or expression, veteran status, or any other status protected under federal, state, or local law.

If you require a reasonable accommodation under the Americans with Disabilities Act (ADA) throughout the recruitment process, please reach out to us at the following email: Careers@trsil.org.