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Senior Investment Officer, Fixed Income

Employer
United Nations Joint Staff Pension Fund
Location
New York City, New York (US)
Salary
Competitive
Closing date
Jun 2, 2024

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Job Function
Investment Advisor/Consultant
Industry Sector
Investment Bank
Employment Type
Full Time

Org. Setting and Reporting

The United Nations Secretary-General is responsible for the investment of the assets of the United Nations Joint Staff Pension Fund (UNJSPF). The Secretary-General has delegated this responsibility to the Representative of the Secretary-General for the investment of the assets of the UNJSPF (RSG). The RSG heads the Office of Investment Management (OIM), which manages a $80+ billion multi-asset class, global investment portfolio, about 85% of which is actively managed in-house. Asset classes under management comprise global equities, fixed income, foreign exchange, private equity, real estate, infrastructure, timber and commodities. OIM’s staff are all based in New York but come from over 30 countries. For more information please visit OIM's website at https://oim.unjspf.org/. This position is located in the Fixed Income Team. The Fixed Income portfolio of the UNJSPF consists of allocations to US treasuries, credit, securitized, high yield and local currency emerging market debt. The incumbent reports to the Director of Fixed Income.

 

Responsibilities

Under the overall supervision of the Director of the Fixed Income, the incumbent will be responsible for the following functions:

 

1. Implements the Fixed Income strategies for the portfolio and sub-sector portfolios in seeking superior investment returns against the respective benchmarks without undue risks over the long-term periods and demonstrates accountability for performance and related risk management of the portfolio by:

a. undertaking fundamental and technical analysis of, but limited to, economic trends, liquidity flows, political and regulatory frameworks relevant to fixed income sub-sector allocation and security selection in fixed income.

b. performing bottom-up investment research, utilizing multiple sources, and diverse platforms including primary research through sector and company visits when necessary.

c. recommending asset allocation within the fixed income complex and relevant fixed income strategies to the Chief Investment Officer and Director of Fixed Income and actively exchanging the views with the Internal Investment Committee and the colleagues of the Investment Section.

d. recommending and implementing the transaction of specific securities to be purchased and sold.

 

2. Plans and oversees the management of activities undertaken by the unit by:

a. Ensuring that substantive work programmes and programmed activities are carried out in a timely fashion.

b. Coordinating diverse projects in the Unit

c. Formulating investment policies and strategies to construct a portfolio for fixed income.

d. Analyzing outside market funds to recommend funds appropriate to the UNJSPF, when necessary.

e. Preparing Investment strategies and contributing to asset allocation by asset classes as well as regional/country/sector allocation within fixed income.

 

3. Manages, supervises and carries out the work programme of the Unit under his/her responsibility. Co-ordinates the work carried out by the Unit and provides programmatic and substantive reviews of drafts prepared by others. Engages in the review of the relevant portfolio and its sub-sectors and provides relevant leadership that spans across various fixed income strategies. Prepares inputs for the work program of the Unit by determining priorities and allocating resources for the completion of outputs and their time delivery.

 

4. Provides comprehensive, clear, and accurate inputs in the preparation of position papers and reports for presentation to intergovernmental bodies such as the Advisory Committee on Administrative and Budget Questions, Pension Board, the General Assembly as appropriate by among others:

a. Preparing reports on investment returns and strategy for review and discussion in regular scheduled internal portfolio review and staff-advisor meetings.

b. Participating in Investments Committee meetings and preparing the required inputs.

c. Initiating and leading special projects designed to improve the investment management decision process at OIM and enhance performance.

d. Evaluating the advice and recommendations provided by external non-discretionary advisors and externally managed funds.

 

5. Carries out administrative tasks necessary for the functioning of the Unit, including:

a. Monitoring of performance, parameters and critical indicators, reporting on budget performance, preparation of inputs, evaluation of staff performance

b. Recruits staff for Unit taking geographical and gender balance and other institutional values into account.

c. Manages, guides, develops and trains staff under his/her supervision.

d. Fosters teamwork and communication among staff in the unit and across organizational boundaries.

e. Represents the organization at interagency meetings, seminars, etc. on substantive issues.

f. Participates in international, regional or national conferences and provides programmatic/substantive expertise on an issue or hold substantive and organizational discussions with representatives of other institutions.

 

6. Reports accurately and timely to the Representative of the Secretary-General Investments of the UNJSPF and Chief Investment Officer when requested.

 

7. Assists in reporting on investments and related matters to Governing Bodies, including the United Nations Joint Staff Pension Board, the Fifth Committee, the ACABQ, the BOA, and OIOS.

 

8. Leads team members efforts to collect and analyze data and provides insight to identify trends or patterns for data-driven planning, decision-making, presentation and reporting. Ensures that everyone can discover, access, integrate and share the data they need.

 

Competencies

 

  • Professionalism: Demonstrated ability and sound knowledge of fixed income, across asset-classes and sectors, as well as a track-record of successful portfolio management. Demonstrated ability and sound knowledge of applied macroeconomics, security analysis and portfolio management. Ability to work under pressure and provide accurate, efficient and effective results. Ability to utilize various portfolio management and data processing tools; such as Bloomberg and familiarity with the use of Internet applications and MS Office programmes. The ability to analyze and interpret data in support of decision-making and convey resulting information to management; Shows pride in work and in achievements; demonstrates professional competence and mastery of subject matter; is conscientious and efficient in meeting commitments, observing deadlines and achieving results; is motivated by professional rather than personal concerns; shows persistence when faced with difficult problems or challenges; remains calm in stressful situations. Takes responsibility for incorporating gender perspectives and ensuring the equal participation of women and men in all areas of work. Able to analyse and interpret data in support of decision-making and convey resulting information to management.
  • Teamwork: Works collaboratively with colleagues to achieve organizational goals; solicits input by genuinely valuing others’ ideas and expertise; is willing to learn from others; places team agenda before personal agenda; supports and acts in accordance with final group decision, even when such decisions may not entirely reflect own position; shares credit for team accomplishments and accepts joint responsibility for team shortcomings.
  • Accountability: Takes ownership of all responsibilities and honours commitments; delivers outputs for which one has responsibility within prescribed time, cost and quality standards; operates in compliance with organizational regulations and rules; supports subordinates, provides oversight and takes responsibility for delegated assignments; takes personal responsibility for his/her own shortcomings and those of the work unit, where applicable.
  • Leadership: Serves as a role model that other people want to follow: empowers others to translate vision into results; is proactive in developing strategies to accomplish objectives; establishes and maintains relationships with a broad range of people to understand needs and gain support; anticipates and resolves conflicts by pursuing mutually agreeable solutions; drives for change and improvements; does not accept the status quo; shows the courage to take unpopular stands. Provides leadership and takes responsibility for incorporating gender perspectives and ensuring the equal participation of women and men in all areas of work; demonstrates knowledge of strategies and commitment to the goal of gender balance in staffing
  • Judgement/Decision-making: Identifies the key issues in a complex situation, and comes to the heart of the problem quickly; gathers relevant information before making a decision; considers positive and negative impacts of decisions prior to making them; takes decisions with an eye to the impact on others and on the Organization; proposes a course of action or makes a recommendation based on all available information; checks assumptions against facts; determines the actions proposed will satisfy the expressed and underlying needs for the decision; makes tough decisions when necessary.

Education

Advanced university degree (Master's degree or equivalent) in Business and Administration (MBA), Finance, Economics or related field is required. A first-level university degree in combination with additional two years of qualifying experience may be accepted in lieu of the advanced university degree.

 

Work Experience

A minimum 10 years’ experience of fixed income investment experience in pension funds, public funds, insurance, foundations, endowments or sovereign wealth funds is required. A minimum of 7 years’ experience as a buyside Portfolio Manager of a large and complex fixed income portfolio is required. A minimum 5 years’ experience managing a fixed income portfolio with assets under management of at least USD 2.5 billion is required.

Languages

English and French are the working languages of the UN Secretariat. For this position, fluency in English is required. Knowledge of another UN official language is desirable.

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