Investment Officer (Operations)
The Employees’ Retirement System (ERS) is a multi-billion dollar public pension fund that administers the retirement benefits program for State and County government employees; i.e., all State Executive Branches, University of Hawaii, the Department of Education, Judiciary, the Hawaii Health Systems Corporation, City and County of Honolulu, as well as the Counties of Hawaii, Kauai and Maui (which includes the islands of Molokai and Lanai). The ERS administratively attached to the Department of Budget and Finance and is governed under the policy and executive direction of its Board of Trustees. It operates under the provision of HRS, Chapter 88, and Title 6 of the Department of Budget and Finance Administrative Rules and Regulations.
The Investment Office plans, organizes, executes, and administers the investment-related activities of the ERS in accordance with approved policy guidelines and applicable Hawaii Revised Statutes. The ERS investment portfolio currently includes U.S. and non-US stocks and bonds, real estate, commercial mortgages, residential mortgage loans, emerging markets, private equity, timber farming, and short-term investments.
The primary functions of this position are to: (1) perform the investment operational function; (2) provide investment management support; (3) support the Chief Investment Officer (CIO) and Deputy Chief Investment Officer (DCIO) in overseeing Liquid Defensive Strategies; and (4) perform other miscellaneous duties as assigned. The position reports to the ERS CIO.
- Investment Operations 30%
- Investment Management Support 30%
- Liquid Defensive Strategies 30%
- Miscellaneous 10%
Principles and practices of portfolio management to meet investment objectives; institutional investment practices; economic theories and principles relating to the investment of pension fund assets; various investment vehicles (public and private equities, public and private credit, money market instruments, exchange-traded and OTC derivatives and real assets); asset allocation methodologies; risk management concepts and best practices, securities settlement procedures; quantitative investment methods; business, management, and strategic planning principles; project management; research resources and techniques to evaluate investment opportunities; different kinds of securities and industry standards and regulations for adherence to regulatory requirements; market conditions and changes in or new methods of investing to provide recommendation and to implement investment strategies; fiduciary and prudence guidelines and standards governing the administration of public pension funds; various portfolio strategies and their relative values to implement investment strategies; methods used to calculate performance and attributions for assigned portfolios in order to evaluate investment opportunities; investment merits of domestic and international assets and securities to evaluate investment opportunities; and leadership techniques to coordinate human and other resources to achieve investment objectives.
Conceptualize and articulate complex financial and investment information clearly and concisely; work independently and collaboratively in a team setting and with all levels of personnel; exercise a high level of judgment in extracting economic and investment information; manage and lead multiple investment projects simultaneously; plan and prioritize projects and work assignments independently; competency on legal issues related to investments and ability to take a lead advisory role to staff, and interface with outside counsel and Hawaii Attorney General regarding investment legal work, particularly contracting; perform or direct others to perform analyses to evaluate investment opportunities; analyze and review investment portfolios to meet investment goals and objectives; compile, organize and interpret written and numeric information to evaluate investment opportunities; establish and maintain cooperative and effective working relationships with all levels of personnel in the course of work to meet investment objectives; communicate effectively in writing and orally; present to the ERS’ management and/or Board of Trustees investment information and recommendations; participate in the development of tactical and strategic portfolio allocation strategies to meet investment objectives; provide leadership to lower level staff such as to organize and review work products, direct projects, mentor and train to meet investment objectives; operate computer hardware and attached peripherals proficiently; use computer software such as Microsoft Word, Excel and related advanced applications, PowerPoint, database management software; access and navigate the internet; write clear and concise administrative and recommendation reports; follow instructions and respond to management direction; use time efficiently; work under stressful conditions; maintain confidentiality; demonstrate integrity and the highest degree of ethics; and maintain regular attendance.
Graduation from an accredited four (4) year college or university with a bachelor’s degree, preferably with a major in economics, finance, or business administration.
Seven (7) years of progressively responsible professional experience in institutional investments or related field required, preferably including institutional portfolio management, derivatives or securities trading, and systematic strategies experience.
Operational management experience and relevant legal experience strongly preferred.
Chartered Financial Analyst (CFA) certification, Chartered Alternative Investment Analyst (CAIA) certification or other relevant designation, and/or a graduate degree in business administration or a related field from an accredited university is strongly preferred.
This position is exempt from civil service, therefore if you are appointed to the position, your employment will be considered to be “at-will”, which means that you may be discharged from your employment at the prerogative of your department head or designee at any time.
To Be Eligible: Applicants must be citizens, permanent resident aliens, or nationals of the United States. Non-citizens with unrestricted employment authorization from the U.S. Immigration and Naturalization Service may also apply.
To Apply: Submit Resume and Cover Letter to Diana.Gomes@Hawaii.gov
Applications become the property of the Department of Budget and Finance. Exempt employees may be eligible for a broad range of valuable benefits available to State of Hawaii employees. The State of Hawaii is an equal opportunity employer and complies with applicable State and federal laws relating to employment practices.