State of Connecticut Executive Branch

Investment Associate (3811VR)

$0.01-$478.93 Hourly / $0.00-$0.00 BiWeekly /
$1.00-$999,999.00 Yearly

PURPOSE OF JOB CLASS (NATURE OF WORK)

In the Office of the State Treasurer this class is accountable for assisting in the performance of investment functions for one or more investment programs or trust funds.

GUIDELINES FOR JOB CLASS USE

The PFM Investment classes are structured into successive levels, which are distinguished based on the complexity, variety, scope, and independence of the responsibilities assigned and the size of the staff managed. The Investment Associate is the entry level professional. 

The class assists in the management of Connecticut Retirement Plans and Trust Funds (CRPTF) in one or more assigned investment area(s) listed below in adherence with all aspects of the Investment Policy Statement.
  • PUBLIC MARKETS
  • RISK MITIGATION
  • LIQUIDITY
  • PRIVATE MARKETS
  • LEGAL
  • OPERATIONS
  • RISK MANAGEMENT

SUPERVISION RECEIVED

Receives general supervision from a higher-level investment professional.

SUPERVISION EXERCISED

May lead staff as assigned.

EXAMPLES OF DUTIES

  • Assists in the administration and operations of the Connecticut Retirement Plans and Trust Funds (CRPTF) within the Pension Funds Management Division;
  • Assists in the planning, coordination, implementation, and operation of an investment program or trust fund (e.g., real estate, liquidity, global equities, global fixed income, private equity, etc.);
  • With direction from investment officers and leadership, assists with oversight of investment fund managers, consultants and custodians; 
  • Assists with contracting for investment and service contracts; 
  • Conducts periodic reviews of on-going investment programs and reports on specific aspects of fund operations; 
  • Supports investment officers and leadership with diligence on potential investments; 
  • Conducts analysis of investment partners, vehicles, and capital call and distribution processing;
  • Assists with portfolio construction;
  • Conducts asset class reporting and analysis;
  • Selects and monitors external investment managers and investment vehicles; 
  • Supports investment guidelines, holdings, and performance analysis.
  • Works with compliance and legal department to ensure review of required documents necessary for contracts;
  • Supports the preparation of internal memorandums, securities monitoring, and litigation;
  • Works with business professionals on legal strategies; 
  • Works with and prepares materials for other state agencies and committees, including the Investment Advisory Committee, Office of Policy and Management, and the Office of the Attorney General;
  • Supports risk management, pension funds investment accounting and governance as necessary to effectively administer and oversee pension assets;
  • Assists investment officers and leadership in analyzing risk exposure, asset rebalancing, performance monitoring, modeling and attribution analysis;
  • Performs various investment accounting functions, investment transactions processing and reporting;
  • Assists with maintenance of investment contracts;
  • Performs various compliance and governance functions for adherence with investment contracts and guidelines;
  • Assists with proxy voting and shareholder engagement.
  • May assist in screening, selection and monitoring of external investment managers and investment vehicles;
  • May present data relevant to assigned investment program to the Investment Advisory Council;
  • Performs related duties as required.

KNOWLEDGE, SKILL AND ABILITY

  • Knowledge of
    • investment practices and procedures;
    • investment terminology;
  • Skills
    • interpersonal skills;
    • oral and written communication skills;
  • Ability to
    • utilize computer software;
    • prepare financial and analytical reports;
    • plan and maintain appropriate controls and records of investment transactions.

MINIMUM QUALIFICATIONS - GENERAL EXPERIENCE

Three (3) years of experience performing investment functions in an investment management, pension accounting, legal, endowment, or equivalent environment.

MINIMUM QUALIFICATIONS - SUBSTITUTIONS ALLOWED

College training in a closely related field to the area may be substituted for the General Experience on the basis of fifteen (15) semester hours equalling one-half (1/2) year of experience to a maximum of three (3) years for a Bachelor’s degree.

APPOINTMENT

In accordance with Section 3-13a of the Connecticut General Statutes.

COMPENSATION GUIDELINES

Compensation for this class shall be determined by the Treasurer within salary ranges established by the Treasurer in consultation with the Investment Advisory Council. 

JOB CLASS DESIGNATION

Unclassified

OCCUPATIONAL GROUP

(01)-Accounting/Auditing

BARGAINING UNIT

(01)-EXEMPT/ELEC/APPOINT

EEO

(2)-Professional

SALARY INFORMATION

VR 99

ACKNOWLEDGEMENT

As defined by Sec. 5-196 of the Connecticut General Statutes, a job class is a position or group of positions that share general characteristics and are categorized under a single title for administrative purposes.  As such, a job class is not meant to be all-inclusive of every task and/or responsibility.

CANCELLATION CLAUSE

This replaces the existing specification for the class of Investment Associate assigned to Salary Group VR 99 approved effective July 1, 2023. (Revised to modify content. Reviewed in accordance with Connecticut General Statute § 5-200a.) Item No. 24-134

EFFECTIVE DATE

10/08/2024
CLASS: 3811VR; EST: 7/1/2023; REV: 10/11/2024;