Co-Portfolio Manager/Co-Trader

The Opportunity

The North Carolina Department of State Treasurer (DST) is seeking to recruit a highly qualified individual for the role of Co-Portfolio Manager/Co-Trader. DST's Investment Management Division (IMD) actively invests and manages the State’s pension funds and other assets entrusted to the Department.  The State Treasurer has investment authority pursuant to G.S. 147-69.2(b)(8) to invest in a variety of financial vehicles. This position reports to the Investment Director - Public Equity and plays a key role in supporting the Director in portfolio construction, monitoring investment managers/funds, and analyzing potential investment opportunities.

This position is currently designated as a covered position under the North Carolina State Government Ethics Act (Chapter 138A of NC General Statutes). The individual hired to this position will be subject to the provisions of the Ethics Act as a "covered person" including the need to: (1) Complete a Statement of Economic Interest for evaluation by the State Ethics Commission if annual compensation is $60,000 or more and (2) Complete a biennial ethics education and awareness program offered by the Commission within six months of hire. For more information please visit the State Ethics Commission at https://ethics.nc.gov/ In furtherance of the Department of State Treasurer’s existing ethics and transparency programs, this position is subject to the ethics and conflict of interest requirements of the Department of State Treasurer Supplemental Ethics Policy (Tier 2 Policy) https://www.nctreasurer.com/media/3288/download?attachment

The Role

The Co-Portfolio Manager/Co-Trader assists in the oversight of the Public Equity’s internally managed and externally managed portfolios and sub-portfolios (US Equity and Non-US Equity) and provides continuous evaluation and management of risk associated with these investments. It also analyzes potential investment opportunities, interacts regularly with external investment managers, and works closely with the Investment Analyst. These responsibilities require a working knowledge of the investment industry, the trade lifecycle, the ability to apply the principles of modern portfolio theory, and utilize statistical methods to track and monitor performance within acceptable risk parameters. 

Why bring your expertise to DST?

• A rewarding opportunity to provide professional institutional investment management services to support state workers, taxpayers, and their families. 
• When you become a part of DST, you are working for an employer whose core values include fiduciary duty, integrity, ability, passion, and transparency.
• The State of NC offers a wide variety of competitive and family-friendly benefits, including health insurance, paid vacation, paid sick time, paid holidays, as well as retirement.  Learn more about our benefits here.

Key Duties & Responsibilities

• Perform daily trade management of the Plan’s internally managed passive equity strategies which involves oversight of front, middle, and back office operational support
• Monitor the internal and external equity portfolios for compliance with established guidelines and policies and provide recommendations for changes or enhancements to improve investment objectives.
• Assist the Lead Portfolio Manager with order generation and execution and serve as primary backup.
• Perform index and portfolio exposure monitoring. Perform corporate actions.
• Manage a pipeline of prospective investment managers and identify new strategic and/or tactical investment opportunities.
• Lead the due diligence process for current and prospective domestic external investment relationships and serve as backup for non-US relationships.
• Efficient utilization of broker-dealers and sell-side research and data providers.
• Liaise with external vendors, including custodians and outsourced middle/back-office providers responsible for servicing all aspects of internal trade functionality.
• Actively participate in the negotiation of complex legal documents, preferred terms, and management fees that govern all public equity investments.
• Perform asset allocation and portfolio modeling of public and applicable alternative strategies.
• Measure and manage active risk across public equity market portfolios.
• Assist in generating ad hoc reports and the creation of investment recommendation memorandums.
• Present as part of the Public Equity Team an annual update to the Investment Advisory Committee.

***Position may at times require travel but not to exceed 30%***

Qualifications

• Bachelor’s degree with coursework in accounting, business, economics, finance, investment, statistics, or related coursework and at least a 5-year track record of successful experience in trading and portfolio management involving selecting, evaluating, and managing a portfolio of internal and external investment strategies/managers within a public or corporate pension plan, foundation and/or endowment; OR Three-year track record and MBA or CFA or equivalent combination of training and experience. All degrees must be received from appropriately accredited institutions. 
• Advanced experience with trade lifecycle, trading within equity markets and overall trade management
• Demonstrated ability to apply modern portfolio theory Ability to compile, monitor, examine, and audit various financial and performance-related data
• Utilization of statistical methods to track and monitor performance within acceptable risk parameters
• Strong oral and written communication skills (i.e., oral presentations and composing reports, letters, and memos)
• Ability to work independently and with groups, think critically, ask questions, and provide solutions is essential
• Proven ability to recognize and research unusual activity for further investigation
• Possess advanced analytical and financial modeling skills as well as experience analyzing risk and return factors
• Experience in contract and fee negotiations

Preferred Qualifications

• Considerable experience with internal management of passive and/or active equities and cash management within a public or corporate pension plan, foundation, or endowment (front, middle, and/, or back office)
• Direct investment and operational due diligence experience with successful selection, evaluation, and managing of a portfolio of external investment managers within a public or corporate pension plan, foundation and/or endowment

How to Apply

You may submit a resume through the CFA Institute Career Center! Alternatively, you may submit your application online: Click here 

General inquiries and resumes can be sent directly to DST HR Consultant: Shannon Boatwright, at (919) 814-3828 or shannon.boatwright@nctreasurer.com. Review of applications will begin immediately and will continue until the position is filled.

The State of North Carolina, and the Department of State Treasurer, is an Equal Opportunity Employer