Director of Investment Risk Management

Seeking Director of Investment Risk Management to oversee and provide strategic direction of the Investment Risk Management Program.  This position holds primary accountability for development and implementation of a comprehensive risk management framework for the Trust, including the measurement, reporting, and control of the broad spectrum of risks to the investment program. The Director of Investment Risk Management institutes and refines policies and procedures that align with industry best practices and the Board’s stated objectives to identify key risks in real-time and respond promptly and prudently.  The ideal candidate will exhibit a high degree of independent judgement as well as ongoing collaboration with asset-class teams to develop and maintain a functional understanding of the risks present in all underlying assets and investment strategies.

Essential Responsibilities include, but are not limited to: 

• Provides overall direction, oversight, and accountability for investment risk management of the Trust.
• Establishes a cohesive, comprehensive, and integrated risk management framework for all aspects of risk across the investment program (i.e.: market risk, liquidity risk, concentration risk, counterparty risk, operational risk, etc.).
• Manages the design, implementation and monitoring of applications and reporting systems for risk, including reporting and analysis that support actionable recommendations to the Risk Committee, Managing Director of Portfolio Management (MDPM) and Chief Investment Officer (CIO).
• Quantifies the program’s risk appetite according to established Board objectives, with input from the asset-class teams, MDPM, and CIO.
• Implements a set of risk metrics and reports across individual asset classes and for the Trust overall, including key risk exposures and early warning indicators.
• Collaborates with asset-class teams to assure proper risk management across programs.
• Collaborates with operations and other data owners to refine and expand the analytical systems and data management capabilities that support the risk management program Conducts stress testing and what-if scenario analyses to identify and monitor potential vulnerabilities to key risks. This includes tracking liquidity by forecasting capital calls and distributions as required by the Investment Policy Statement (IPS). Follows macroeconomic developments, analyzes their potential impact, and reports at least weekly to key stakeholders regarding indicators that are relevant to the outlook for the Trust. Prepares Trust-level reporting as required by the IPS, including the preparation of monthly, quarterly and annual reports provided to the Board and other stakeholders. Monitors alignment of Trust and program level metrics relative to the Asset Class Guidelines established in the Investment Implementation Policy (IIP) and reports to the Risk Committee monthly. Functions as supervisor of the Investment Risk Management program by assigning work, ensuring completion of assigned tasks, monitoring performance, carrying out performance reviews, and making personnel recommendations to the MDPM.

• Travels as necessary for due diligence visits, industry conferences, and other functions to develop the knowledge, resources and contacts necessary to maintain an effective risk management program.

Required Minimum Qualifications:  Your application for employment must reflect how you meet each of the following minimum qualifications:

1. Graduation from an accredited four-year college or university with major course work in business, finance, economics, or a related field.
2. Five (5) years of progressive experience leading or working within a risk management program at a pension fund, endowment, or other institutional investment firm.
3. One (1) year of professional experience using Bloomberg, Excel, PowerPoint, Word, and other related software with a preference for experience using other investment applications and data management systems as well.

Preferred Qualifications:  Your application for employment should reflect how you meet the following preferred qualifications:

     4.    Master’s degree in business, finance, economics or a related field.

     5.   Chartered Financial Analyst (CFA) charterholder or current participation in the CFA program.

     6.   Financial Risk Manager (FRM) designation or current participation in the FRM program.  

PLEASE NOTE: All applications should contain complete job history entries, 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:  ERS operates in a hybrid work environment, with flexible work schedules available to all employees.  Travel will be required.  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 employment@ers.texas.gov.

Military Occupational Specialty Codes:

There are no equivalent Military Occupational Specialty codes assigned to this position.  Please contact Human Resources at employment@ers.texas.gov  with questions or for additional information.

How to Apply:  Submit the following to the ERS Human Resources Office:

• A State of Texas Application for Employment (resumes will be accepted only as supplements to a State of Texas Application for Employment).

The above form may be located at this link: https://www.ers.texas.gov/careers/How-to-Apply. Please contact a Human Resources representative if you need assistance or require accommodation during the application process.

Email:        Employment@ers.texas.gov                 Web:  www.ers.texas.gov

Relay Texas TDD: (800) 735-2989

LinkedIn:  https://www.linkedin.com/company/employees-retirement-system-of-texas/