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Sr. Governance Manager

(Manager of ESG and Corporate Responsibility)

Recruitment #21-005020-0001

Introduction

The Maryland State Retirement Agency (the “Agency”) is the administrator of the Maryland State Retirement and Pension System (the “System”).  The System is a multi-employer, public employees’ benefit retirement system composed of twelve (12) separate retirement and pension systems with additional plan components, covering approximately 245,000 active members and more than 160,000 retires and beneficiaries.

The Agency is seeking a committed professional to serve in a newly established role of Manager of ESG and Corporate Responsibility within the Investment Division who will lead the Environmental, Social and Governance (the “ESG”) and other governance related efforts. The Manager of ESG and Corporate Responsibility will report to the Deputy Chief Investment Officer, and will be an active member of the Investment Division.  This individual will work collaboratively with the Chief Investment Officer, the Deputy Chief Investment Officer, the managing directors and staff of the different asset classes, the ESG Committee, and the Diversity, Equity, and Inclusion Committee (the “DE&I” Committee), to support the overall investment program.

The Agency’s Investment team is both results driven and creative problem solvers who work together to manage a global multi-asset portfolio and to provide a secure base of assets to pay the current and future benefits for the underlying retirees and beneficiaries.  The Investment Division is committed to providing a comprehensive work environment that will give the investment team members a complete understanding of the institutional investment process and to provide a diverse and inclusive workplace that embraces both analytical and creative thinkers.

This position serves at the pleasure of the Appointing Authority.

GRADE

MSRP 0008

LOCATION OF POSITION

120 East Baltimore Street

Baltimore, Maryland 21202

Main Purpose of Job

The Manager of ESG and Corporate Responsibility is responsible for all aspects of the governance program for the Investment Division and the System including developing appropriate standards, policies, and processes, the implementation and management of the program, and provide guidance and advice to management at the Agency, and the Board of Trustees.  The governance program includes the areas of ESG, DE&I, divestment, proxy voting and related processes, and the engagement initiatives with issuers and governance organizations.   

The responsibilities of the Manager of ESG and Corporate Responsibility will include leading the ESG initiatives of the Investment Division and the System including monitoring, evaluating, and quantifying the risks and effects of ESG and diversity on the portfolio and the Investment Division. 

The Manager of ESG and Corporate Responsibility is responsible for the oversight and management of the divestment program, engagement process, proxy voting, proxy monitoring, proxy advisor, proxy policy development process and other matters related to governance topics.

The Manager of ESG and Corporate Responsibility is responsible for the management of and providing advisement to the Corporate Governance and Securities Litigation Committee on all related governance topics. 

POSITION DUTIES

Responsibilities include but are not limited to:

· Develops, recommends and implements standards, policies and procedures for the governance program;

· Maintains appropriate and effective management of the governance program which includes meeting goals and objectives of the program;

· Works across asset classes to integrate ESG into their investment due diligence and recommendations

· Performs ESG research and analysis on potential and existing investments and provides recommendations;

· Procures, manages and maintains any ESG data applications necessary for ESG research and analysis;

· Conducts training to the Board and the Agency staff on the ESG and governance related topics;

· Oversight and development of any ESG or governance related reports required by the Legislature or as necessary for the System;

· Manages the relationships with outside parties and completes any related surveys as it relates to governance topics such as proxy advisors, ESG data providers, and governance organizations;

· Manages and tracks ESG efforts by external and internal managers and provides any necessary recommendations;

· Chairs or participates in the DE&I and ESG Committees;

· Manage diversity initiatives of the Investment Division and the DE&I Committee;

· Advises the Corporate Governance and Securities Litigation Committee, the Board of Trustees and Agency management on any ESG, divestment, proxy, or other governance related topics or issues;

· Manages the proxy voting process and ensures proxies are voted in accordance with the System’s custom proxy guidelines; 

· Performs an annual due diligence review of the proxy advisor and reports any issues to the Corporate Governance and Securities Litigation Committee;

· Maintains knowledge of best practices and current trends in corporate governance topics;

· Initiates, carries out and manages any engagement activities related to corporate governance topics;

· Manages the meetings, agenda items, information and needs of the Corporate Governance and Securities Litigation Committee;

· Oversight and management of any investment divestment programs or proposed divestment initiatives.

MINIMUM QUALIFICATIONS

Education: 

Graduated from an accredited four-year college or university with a bachelor’s degree.

Experience: 

Relevant experience in investments, corporate governance, ESG or finance.

DESIRED OR PREFERRED QUALIFICATIONS

A productive and successful candidate will have some of the listed below experiences to achieve success with the position’s responsibilities: 

· Experience at a pension, endowment, foundation, or other institutional investment organization;

· Experience in the investment decision making process for public or private assets;

· Experience with ESG integration;

· Knowledge of key ESG issues, regulatory and standards setting organizations, measurement tools, ESG data applications and rating systems;

· Knowledge of corporate governance topics and the proxy voting process;

· Experience managing an engagement program on corporate governance matters;

· Experience creating policies and procedures and maintaining a governance program.

SELECTION PROCESS

Please make sure that you provide sufficient information on your application to show that you meet the minimum qualifications for this recruitment.  All information concerning your qualifications must be submitted by the closing date.  We will not consider information submitted after this date. 

Successful candidates will be ranked as Best Qualified, Better Qualified, or Qualified and placed on the employment (eligible) list for at least one year.  This list will be used by the hiring agency to select employees.

For education obtained outside the U.S., a copy of the equivalent American education as determined by a foreign credential evaluation service must accompany the application.

Due to the confidential nature of the work, selected candidates must undergo and pass a background check.

EXAMINATION PROCESS

The examination will consist of a rating of your education, training, and experience as presented on your application and as they relate to the requirements of the position.  You may be asked to complete a supplemental questionnaire.  The supplemental questionnaire may be used as part of the rating process.  Therefore, it is important that you provide complete and accurate information on your application.  

BENEFITS

FURTHER INSTRUCTIONS

Online applications are highly recommended. However, if you are unable to apply online, the paper application and supplemental questionnaire may be submitted to: Department of Budget and Management, Recruitment and Examination Division, 301 W. Preston St., Baltimore, MD 21201. Paper application materials must be received in our office by the closing date for the recruitment. No postmarks will be accepted.

Please include a cover letter and resume. All mailed documents must include the applicant's name and the job number and must be received by the closing date.   Resumes will NOT be accepted in lieu of completing the application.

If you have any questions concerning the recruitment process for this position, please call 410-767-6352.

TTY Users: call via Maryland Relay

As an equal opportunity employer, Maryland is committed to recruiting, retaining and promoting employees who are reflective of the State’s diversity. People with disabilities and bilingual candidates are encouraged to apply.

We thank our Veterans for their service to our country, and encourage them to apply.