DESCRIPTION
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This classification specification describes the senior level of the Investment Officer, ACERA, flexibly staffed series. Incumbents of this classification, under general direction of the Chief Investment Officer (CIO) and with minimum supervision, conducts complex research and analysis related to the retirement fund's investments; performs asset class programs’ oversight; assists with the designs of the retirement fund, and investment policies, as well as administration and operations of investment programs; and performs related duties as required.
DISTINGUISHING FEATURES
This classification is part of a three-level flexibly staffed class series of the Investment Officer, ACERA, series classifications. This position is located in the Office of the Alameda County Employees’ Retirement Association (ACERA) and reports to the Chief Investment Officer, ACERA. Incumbents in this classification are expected with minimum supervision to perform the more difficult and complicated investment analyses in the ACERA investment program proactively, with a focus on asset class oversight, asset allocations, investment policies, and management of the investment program. Additionally, this classification will serve as the primary internal resource to the CIO in the role of overseeing, guiding, and training lower-level positions in the Investment Officer series. The Senior Investment Officer classification is distinguished from the Chief Investment Officer in that the latter focuses exclusively upon the maximization of return on investment of ACERA funds by the implementation of the ACERA investment program, whereas the Senior Investment Officers are responsible for assisting the CIO with minimum supervision to accomplish the same return maximization goal and in the various activities in the day-to-day functioning of the investment program.
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EXAMPLES OF DUTIES
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NOTE: The following are duties performed by employees in this classification. However, employees may perform other related duties at an equivalent level. Each individual in the classification does not necessarily perform all duties listed.
- Monitors external investment managers (e.g. Private Equities managers) and vendors as assigned by the Chief Investment Officer for compliance with investment contracts, ACERA’s policies and guidelines, and investment best practices; prepares and summarizes exception reports for Chief Investment Officer’s review and/or presentation at the Investment Committee Meetings.
- Serves as a primary internal resource to the Chief Investment Officer in the oversight and management of the ACERA investment portfolio to achieve the investment goals stated in the ACERA Investment Policy. Responsible for the design of a designated portion of the Total Fund portfolio.
- Assists the Chief Investment Officer in the successful, timely implementation of the investment recommendations adopted by the Board of Retirement. Provides exception reports to the CIO and/or the Investment Committee, if warranted.
- Displays strong leadership skills to successfully complete their investment duties as defined by ACERA. Acts as a subject matter expert, resource, and mentor to all relevant Investment Officers and/or Investment Analysts and administrative staff for the successful completion of their assigned tasks.
- Serves as the primary staff to independently lead the secondary staff, usually Investment Officers and/or Investment Analysts, to analyze and research on investment matters as assigned in accordance with ACERA’s policies and procedures and internal asset class assignments. Conducts independent investment research and analyses of existing and prospective investment managers and vendors to evaluate their ongoing and potential contributions to the ACERA portfolio.
- Initiates and completes with minimum supervision the successful conclusions of tasks assigned by the CIO, including but not limited to the monthly preparations, production, and distribution for ACERA’s Investment Committee Meeting, Board Meeting, and all ad-hoc Meetings.
- Initiates and conducts independent investment research and analyses relevant to the ACERA portfolio and the related institutional investment markets. Documents pertinent findings and conclusions of any such research and analyses to report to the CIO and/or at the Investment Committee Meetings, if warranted.
- Assists the Chief Investment Officer in researching, preparing, reviewing, and recommending any investment-related policies and procedures in the management of the ACERA Portfolio.
- Represents ACERA professionally in all aspects of incumbent’s interactions with ACERA’s current, past, and prospective Investment managers and vendors, with minimum supervision and adhering to the Codes of Conducts, Policies, and Rules and Regulations of the County of Alameda and ACERA.
- Leads the Investment Officer’s and/or Investment Analyst’s successful implementation of Investments initiatives as approved by the Chief Investment Officer and/or by the Board.
- Serves as a trainer/mentor to guide the Investment Officers and Investment Analysts to conduct Investment due diligence to comply with ACERA’s Investment Policies and Procedures.
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MINIMUM QUALIFICATIONS
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EITHER I
Experience:
The equivalent of three (3) years of full-time experience in the classification of Investment Officer, ACERA, in the Alameda County classified service.
OR II
Education:
Possession of a bachelor’s degree from an accredited college or university in Accounting, Finance, Economics, or in Business Administration with an emphasis in Investments, Finance, Economics, Real Estate, or related field.
AND
Experience:
The equivalent of five (5) years of full-time, increasingly responsible experience in a financial institution, which has included some combination of financial and investment research and analyses, report preparation, compliance monitoring, relationship, and/or program management.
Highly Preferred:
- A master’s degree in business administration or MBA with an Investment Management specialization.
- Certification as a Chartered Financial Analyst (CFA) and/or Chartered Alternative Investment Analyst (CAIA)
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KNOWLEDGE AND SKILLS
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NOTE: The level and scope of the following knowledge and abilities are related to duties listed under the “Examples of Duties” section of this specification.
Knowledge of:
- Word processing, spreadsheets, database management, and other computer applications.
- Statistical and computer techniques/programs applicable to financial data in evaluating investment managers and portfolios.
- Investment management procedures and practices and investment policy developments.
- Principles of finance, investment (public and/or private markets), statistics, and administrative analyses.
- Sources of data for analyzing securities and market (public and/or private markets) trends.
- Diversified securities and available markets (public and/or private markets).
- Principles and practices of research methods and report (written and/or oral) preparation.
- The scientific method of solving problems and documenting the solutions.
Ability to:
- Establish and maintain professional relationships with members of the Retirement Board, ACERA staff, members of the Retirement Association, other governmental agencies, legal and investment professionals, and consultants.
- Demonstrate skills and experience (preferred) in supervising, evaluating, and leading a diverse team of staff to motivate them to achieve the goals and mission of ACERA.
- Demonstrate experience and knowledge of principles of finance, statistics, investment analysis, research methods, and report preparation for public and/or private markets.
- Evaluate external investment managers' and consultants’ performance.
- Write, communicate, and present clearly, concisely, and persuasively about technical subject matter in a public and/or non-public setting.
- Understand and assess the quality, accuracy, and reliability of manager and consultant reports.
- Demonstrate knowledge, experience, and skills in investment management, theories, principles, policies, procedures, and practices.
- Use spreadsheets and databases for analyses and presentation of information.
- Communicate effectively orally and in writing and exhibit strong interpersonal skills. Be attentive to details.
- Plan, assign, direct and review the work of others proactively and timely on projects or on Investment analyses on a day-to-day basis.
- Represent ACERA professionally in meetings and conferences with other parties.
- Work effectively in situations involving change and uncertainty.
- Isolate critical investment data to assess financial risk of investment options and communicate findings to the CIO timely.
- Problem-solve complex technical investment management matters.
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CLASS SPEC HISTORY
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NewSpec: 1375
IL:saa 01/23/2024
CSC Date:03/06/2024
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BENEFITS
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Alameda County offers a comprehensive and competitive benefits package that affords wide-ranging health care options to meet the different needs of a diverse workforce and their families. We also sponsor many different employee discount, fitness and health screening programs focused on overall well being. These benefits include but are not limited to*:
For your Health & Well-Being
- Medical – HMO & PPO Plans
- Dental – HMO & PPO Plans
- Vision or Vision Reimbursement
- Share the Savings
- Basic Life Insurance
- Supplemental Life Insurance (with optional dependent coverage for eligible employees)
- Accidental Death and Dismemberment Insurance
- County Allowance Credit
- Flexible Spending Accounts - Health FSA, Dependent Care and Adoption Assistance
- Short-Term Disability Insurance
- Long-Term Disability Insurance
- Voluntary Benefits - Accident Insurance, Critical Illness, Hospital Indemnity and Legal Services
- Employee Assistance Program
For your Financial Future
- Retirement Plan - (Defined Benefit Pension Plan)
- Deferred Compensation Plan (457 Plan or Roth Plan)
For your Work/Life Balance
- 12 paid holidays
- Floating Holidays
- Vacation and sick leave accrual
- Vacation purchase program
- Management Paid Leave**
- Catastrophic Sick Leave
- Pet Insurance
- Commuter Benefits Program
- Guaranteed Ride Home
- Employee Wellness Program (e.g. At Work Fitness, Incentive Based Programs, Gym Membership Discounts)
- Employee Discount Program (e.g. theme parks, cell phone, etc.)
- Child Care Resources
- 1st United Services Credit Union
*Eligibility is determined by Alameda County and offerings may vary by collective bargaining agreement. This provides a brief summary of the benefits offered and can be subject to change.
** Non-exempt management employees are entitled to up to three days of management paid leave. Exempt management employees are entitled to up to seven days of management paid leave.
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