Investment Officer – Innovation Portfolio
The Washington State Investment Board (WSIB) is seeking a qualified candidate to join as an Investment Officer (IO) on the Risk Management & Asset Allocation (RMAA) - Innovation Portfolio team. This is a unique opportunity to join a globally recognized investment management organization.
The Innovation Portfolio’s primary investment strategy is to provide the WSIB with an ability to invest in investment ideas that fall outside of the traditional asset classes currently used by the Board, with a secondary purpose of providing the Board with comfort and demonstrated success before committing large dollar amounts to additional strategies. As such, the Innovation Portfolio seeks to make investments that don’t fit neatly into the existing five asset classes of the WSIB (Public Equity, Fixed Income, Private Equity, Real Estate and Tangible Assets). The Innovation Portfolio team is part of the RMAA unit, with the objective of taking a total portfolio approach to identify, evaluate, and make investments.
The IO will have a pivotal role in the development and management of the Innovation Portfolio as well as contributing to the broader mission of the RMAA unit. Primary responsibilities include sourcing, evaluating, and investing in new investment ideas. The IO will also engage in monitoring and managing the existing investments in the Innovation Portfolio. As a RMAA team member, the IO will actively participate in market update meetings as well as other projects related to risk management and asset allocation activities such as portfolio analysis and modeling.
The IO will be expected to work with the highest standard of professional and ethical conduct, and for the exclusive benefit of WSIB beneficiaries.
WHAT WE’RE LOOKING FOR:
An investment professional with the experience to effectively diligence, underwrite, negotiate, and execute a wide range of investment opportunities (including private partnerships), as well as support monitoring of the existing investments. Portfolio modeling skills are also necessary. We are looking for a strong, independent performer who can partner well within our cohesive team environment; a trustworthy professional who values diversity, equity, and inclusion; a professional interested in exposure to various asset classes and the opportunity to become a better investor. The successful candidate will be a well-organized, self-starting, critical-thinking investor. They will benefit from a high-quality work/life balance while taking on the challenges associated with working for one of the world’s leading asset allocators.If selected for this opportunity, you will:Actively engage in sourcing, evaluating, investing in, and monitoring investments for the Innovation Portfolio. In addition, actively participate in market update meetings as well as other projects related to risk management and asset allocation activities such as portfolio analysis and modeling. Activities include the following:
- Source, evaluate and recommend new investments and investment strategies for the Innovation Portfolio.
- Ongoing monitoring, management, and due diligence of existing relationships. Including strengthening relationships with investment partners and identifying and documenting significant issues, risks, and concerns. Represent the WSIB at partnership and investment manager meetings.
- Recommend changes to and/or termination of investments.
- Conduct portfolio analysis and modeling for the Innovation Portfolio, Commingled Trust Fund (CTF) and other portfolios as needed.
- Actively participate in market update meetings, which review economic and financial market activities.
- Work cooperatively across the investment division to evaluate investment opportunities in conjunction with other investment staff.
- Oversee work performed by consultants, legal advisors, and other third-party service providers.
- Work collaboratively with the RMAA team regarding risk, asset allocation, research topics, and program discussions.
- Design and refine methodology used to analyze investment issues and opportunities.
- Participate in discussions on macro-issues that may cause the WSIB to revisit its investment decisions (e.g., economic forces).
- Contribute to the development of the WSIB research agenda, including participating in investment research and other projects as appropriate.
- Contributing as a member of a team committed to diversity, equity and inclusion in our work and workplace.
- Prepare written materials for, and making oral presentations to, the Investment Committee, WSIB Board, and WSIB Board Committees.
- Support the RMAA SIOs on ad hoc projects.
- Travel as needed.
Competitive applicants will have:
- Bachelor’s degree in business, finance, accounting, or related field.
- A minimum of three (3) years of comparable experience in institutional investment management.
- Either of the following may substitute for up to one (1) year in total of the three years of experience requirement:
- Certification as a Chartered Financial Analyst
- An advanced degree in business, finance, accounting, or related field
The strongest applicant will have:
- Chartered Financial Analyst and/or Chartered Alternative Investment Analyst certifications.
- Broad skill sets and capabilities to invest across a wide range of asset classes and strategies. Experience investing in funds and other vehicles, including private partnerships.
- Strong portfolio modeling skills: the ability to utilize software to analyze investment portfolio characteristics.
- Excellent analytical skills: the ability to process and evaluate large quantities of complex information (e.g., financial, economic, statistical, legal, accounting, policy, and financial market information) to systematically assess and document the merits and risks of the related investment opportunity.
- Ability to research, analyze, synthesize, and apply information and results from financial literature and other sources, including the ability to apply quantitative and empirical research to real world issues in the financial management industry.
- Working knowledge of capital markets and related activities, events, and trends; comprehensive understanding of macroeconomic principles as they relate to market expectations and forecasts, inflation, asset allocation, and the valuation of portfolio/securities.
- General knowledge of major asset classes and asset allocation, and ability to build internal analytical skills by performing, potentially in conjunction with other professionals in the organization, “deep dive” research into country, sector, and country/sector relationship to determine risk and return tradeoffs.
- Clear communication, collaborative approach, and strong interpersonal skills; excellent written communication skills with the ability to present concise explanations of complex analyses.
- Strong organizational skills are required, including the ability to manage multiple projects simultaneously, establish time frames for projects, and proactively communicate progress toward goals
- Computer Skills–Proficiency in Word, Excel, and PowerPoint.
If your experience or qualifications look a little different from what we’ve identified and you think you can be successful in this position, please address this in your cover letter.
TO APPLY PLEASE VISIT – WWW. CAREERS.WA. GOV
In addition to a complete profile, please include:
A cover letter specifying why this position is of interest to you and how you meet the qualifications listed above. This letter should be no more than two pages.
A current chronological resume.
A list of at least three professional references under the profile section. References will not be contacted without the written consent of the applicant but must be submitted at the time of application.
This recruitment will remain open until filled. The WSIB may make a hiring decision at any time. It is in the candidate’s best interest to apply early. The initial screening will be based on the content and completeness of your application and the materials submitted. Failure to follow the application instructions may lead to disqualification. All information may be verified, and documentation may be required.
This position is anticipated to perform work remotely during the COVID-19 pandemic, although incumbent should be available for onsite work and business travel upon a phased reopening of the office.
Per Governor Inslee’s Proclamation 21-14 (Download PDF reader), state employees must be fully vaccinated no later than October 18, 2021. Your vaccine status will be verified at New Employee Orientation. Please reach out to the HR Office at (insert email address and/or phone number) if you need information on medical or religious accommodation.