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’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.
The Agency is
seeking a qualified and committed investment professional to serve as a Senior Investment
Analyst in the Fixed Income unit of the Investment Division. The Senior
Investment Analyst reports directly to the Managing Director of Fixed Income
and will be an active member of the Investment Division. This individual will
work collaboratively with the Fixed Income team and will assist in the
sourcing, evaluating, recommending, executing and monitoring of portfolio investments.
This is a Management
Service position and serves at the pleasure of the Appointing Authority.
GRADE
MSRP 0009
LOCATION OF POSITION
120 East
Baltimore Street
Baltimore, Maryland 21202
Main Purpose of Job
This is a unique opportunity to support the management of a private credit portfolio and the public fixed income portfolios
• The Senior Investment Analyst will contribute to the outperformance of all relevant FICC (Fixed Income, Currencies and Commodities) portfolios or investments.
• The Senior Investment Analyst’s primary focus will be the private credit portfolio and its on-going investment program.
• The Senior Investment Analyst’s primary responsibilities will include researching, sourcing, performing due diligence, managing execution of legal documents, drafting investment recommendations and monitoring existing private credit investments.
• The Senior Investment Analyst will contribute to portfolio construction research, design, and implementation with a focus on private investments.
• The Senior Investment Analyst will contribute to the development of an annual strategic plan for private credit investments including targeted exposures, commitment pacing and reporting to relevant stakeholders.
• The Senior Investment Analyst may assist with developing macroeconomic and asset allocation forecasts to aid the System in its tactical sector allocation decisions and (less frequently) with performing analyses relevant for the System’s Strategic Asset Allocation decisions.
POSITION DUTIES
This individual will work collaboratively with the Fixed Income
team to support the overall investment program.
The Senior Investment Analyst will perform the following duties:
·
Collaborate with the other Investment
Analysts, the Portfolio Managers, and the Managing Director to support the
private credit portfolio efforts and to perform other tasks as assigned.
·
Manage documents in the internal system
(familiarity with Code Red or similar CRM software is desirable).
·
Perform timely and accurate data management
regarding capital calls and distributions (familiarity with Burgiss or similar
software is desirable).
·
Conduct research on investment ideas; track
and model investment performance and exposures; maintain communications with
managers, consultants, peer groups and other information sources to remain current
with new developments, including new strategies and fund raising/co-investing
activity.
·
Assist the Managing Director in preparing
presentation materials for Investment Division staff or for the Board of
Trustees’ Investment Committee meetings.
·
Contribute to all Fixed Income team
objectives as assigned or as needed.
·
Perform due diligence of potential
investments and strategies including fund investments and co-investment.
·
Some travel may be required, both domestic
and international.
·
This individual will facilitate manager
meetings, attend conferences, collaborate with consultants and other internal
asset class teams to inform and enhance the investment decision making process
including tactical and strategic planning.
·
Support the development and implementation
of strategy related to overall fixed-income investment process, including
active participation in daily and weekly meetings. Proactively contribute ideas and relative
value analyses for broad fixed income markets.
·
Communicate routinely with the Investments
team on private credit portfolio developments, characteristics, strategy and
tactics.
·
Communicate with other members of the fixed
income team to exchange ideas on developments in the fixed income markets and share
market intelligence; track market performance to have a well-developed basis
for relative value recommendations.
·
Understand fixed income holdings and
strategy objectives to recognize opportunities as they appear in the market and
effectively communicate those ideas and opportunities.
·
Assist Portfolio Managers with management
of legal negotiations, investment closings and other legal document
execution. This individual will review
and monitor cash flow activity across internal and external portfolios and
ensure collaboration and data sharing between internal operations, risk systems,
custodians, administrators, and consultants.
·
May assist with developing macroeconomic
and asset allocation forecasts to aid the System in its tactical sector
allocation decisions and (less frequently) with performing analyses relevant
for the System’s Strategic Asset Allocation decisions.
·
Assist in the ongoing development and
improvement of portfolio management, trading, and reporting systems.
MINIMUM QUALIFICATIONS
Education: Graduated from an accredited four-year
college or university with a bachelor’s degree
Experience: Relevant experience in investments or
finance
DESIRED OR PREFERRED QUALIFICATIONS
The key criteria
for success in this position include quantitative analysis skills, a
willingness to learn, strong interpersonal skills, attention to details, and
the capacity to use critical thinking to solve problems. Candidates should be
confident, persuasive, and able to make recommendations in an uncertain
environment.
A successful candidate
will have some of the experiences listed below to enable the Investment Analyst
to carry out the responsibilities noted above:
- Experience at a pension, endowment, foundation, or other
institutional investment organization.
- Someone who thrives in a
team environment with minimal supervision.
- Knowledge of a broad
opportunity set in private credit markets, private manager selection
principles, business terms negotiation best practices, and private investments
pacing models and portfolio construction methods.
- Previous experience in the
due diligence, selection and execution process for private credit investments in
an institutional asset management buy-side firm .
- Knowledge of risk
management, including tools and strategies to manage idiosyncratic, systematic,
and interest rate risks.
- Strong understanding of performance
and risk attribution.
Desirable
software skills:
Proficient level in Microsoft Excel, Word, and PowerPoint; proficient
with Bloomberg, CRM system such as Code Red, Burgiss and Aladdin.
SELECTION PROCESS
Please make sure
that you provide sufficient information on your application to show that you
meet the minimum 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
The
online application process is STRONGLY preferred. If you are unable to apply
online, you may mail a paper application to:
DBM/Recruitment & Examination
Division
301 West Preston Street, Room 608
Baltimore, MD 21201
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.
