Director of Asset Allocation

About Us?

Indiana Public Retirement System (INPRS’) is among the largest 100 pension systems in the United States. INPRS serves the needs of approximately 473,000 members and retirees representing approximately 1,244 employers, including public universities, school corporations, public safety, municipalities and state agencies. The Indiana Public Retirement System is a public pension fund who manages approximately over $40 billion in assets, making it one of the largest in the United States.  We are located in the heart of the city, in downtown Indianapolis, near the circle & across the street from our monumental state house.  This position will allow a flexible (hybrid) work arrangement, but will require Indiana state residency.  This position is not eligible for H-1B or any other kind of temporary or permanent sponsorship for work authorization by the Indiana Public Retirement System. Therefore, if you will require sponsorship from us for work authorization now or in the future, we cannot consider your application at this time.

Why Join?

INPRS’ believes that people are the foundation of our success. It takes people with different backgrounds, ideas, and strengths to be successful. Balance in life is important. We strive to have a flexible and supportive environment while not sacrificing service to our members. We pride ourselves by modeling a collaborative, diverse and inclusive environment for our employees. Our mission. “As fiduciaries, educate stakeholders, collect necessary contributions, and prudently manage member assets to deliver promised defined benefit and defined contribution benefits and services”. 

Your Impact?

The Director of Asset Allocation is a member of the investment team overseeing INPRS’s multi-billion dollar defined benefit and billion defined contribution investment portfolios.  As a member of the investment team, this position is expected to provide leadership across the portfolio related to economic research, asset allocation, risk management, and to mentor and develop members of the investment staff.  This position is also responsible for the formulation and implementation of investment strategy for INPRS’s risk parity portfolio.  

Essential Functions:

Economic & Asset Allocation Research

• Provide leadership in advancing the team’s understanding of global economies and markets.
• Lead the formal asset-liability study which will educate the Board of Trustees on recommended asset allocation options within the defined benefit portfolio.
• Lead the formal asset allocation study which will educate the Board of Trustees on recommended asset allocation options within the defined contribution’s target date fund line-up.
• Present to the Actuarial and Investment Working Group and/or Board of Trustees, as needed.

Defined Benefit Portfolio Management

• Collaborate with the investment team and consultants in overseeing investment risk frameworks, models, and analytics used for evaluating and monitoring the asset allocation and investment manager selection.
• Proactively monitor risk and performance within the portfolio.  Provide periodic reporting to the CIO and investment team.

Risk Parity Portfolio Management

• Responsible for the allocation strategy within the risk parity portfolio.
• Ensure that all actions taken within the portfolio are consistent and in accordance with contracts and established investment policy guidelines.  
• Present to the Actuarial and Investment Working Group and/or Board of Trustees, as needed.

Investment Team

• Lead and mentor investment officer(s) and investment analyst(s).
• Assist the CIO with staff recruitment, development, and retention strategies.
• Assist the CIO in fostering and maintaining a successful team culture.

Job Requirements:

• Knowledge of investment concepts, terminology, styles, models, strategies, and fundamental investment factors. 
• Knowledge of statistical concepts, methods, and models, and their application to investments. 
• Exceptional skill in planning, organizing, and prioritizing work assignments to manage a high-volume workload in a fast-paced, changing environment and in completing detailed work with a high degree of accuracy. 
• Excellent verbal and/or written communication of complex information that is accurate, timely and based on sound judgment, and in making presentations to groups with varied levels of investment knowledge. 
• Ability to lead and serve as a mentor to members of the investment team.
• Ability to establish and maintain harmonious working relationships with co-workers, agency staff, and external contacts, and to work effectively in a professional team environment. 
• Ability to travel as needed in order to conduct due diligence on investment managers.
• Considerable skill in using a computer in a Windows environment with word processing, spreadsheet, presentation, database, and other business software to prepare correspondence, spreadsheets, charts and reports. 

Experience and Qualifications:

• At least 8 years of professional investment or related experience is required.
• Bachelor’s degree from an accredited four-year college or university.
• CFA, CAIA, and/or MBA is preferred.

Comprehensive Benefits Package:

• Competitive compensation with investment incentive compensation plan
• Flexible Work Arrangement (3 days in-person & 2 days remote)
• Healthcare coverage (medical / dental / vision)
• Health savings account with employer contribution
• Prescription coverage
• Employer funded retirement plan (pension plan)
• Deferred compensation plan (employer and/or employee contribution plan)
• Flexible spending account
• Work/life balance (37.5 hours weekly)
• 12 paid holidays; 14 during election year
• Paid leave (personal, sick, vacation)
• Tuition reimbursement
• Group life insurance
• Employer-paid downtown parking

If you are interested in this position, please submit your application and resume for review.  For more information about our organization, please visit our INPRS Careers Page: https://www.in.gov/inprs/careers.htm.

Equal Employment Opportunity:

The Indiana Public Retirement System (INPRS) is an Equal Opportunity Employer and is committed to recruit, select, develop, and promote employees based on individual ability and job performance. Our policy is to provide equal employment opportunity to all people in all aspects of employer-employee relations without discrimination because of race, color, creed, religion, sex, national origin, ancestry, age, sexual orientation, gender identity, physical or mental disability, or veteran status. We will comply with the spirit as well as the letter of all applicable state and federal laws. 

Indiana Public Retirement System has established a culture that welcomes equity, inclusion, and opportunity for all employees and applicants. We encourage you to apply if you feel you have the transferrable skills to be successful in this position and we look forward to reviewing your application.