0932 Investment Operations Manager

Recruitment #PBT-0932-100274

Introduction

This is a Position-Based Test conducted in accordance with Civil Service Rule 111A.

Receipt of applications may close at anytime, but not before December 19, 2019 by 5:00 PM.

Applicants are encouraged to submit their application immediately.

The San Francisco Employees’ Retirement System has an exceptional opportunity for the right candidate to work for this historic, well established City Department offering an opportunity to engage in interesting and rewarding mission critical work. Established in 1889 as a fund for families and orphans of firefighters and police officers, today the San Francisco Employees’ Retirement System serves more than 73,000 active, vested and retired employees of the City and County of San Francisco and their survivors.


Our Mission

The San Francisco Employees' Retirement System is dedicated to securing, protecting and prudently investing the pension trust assets, administering mandated benefits programs, and providing promised benefits to the active and retired members of the City and County of San Francisco.

The San Francisco Employees' Retirement System (SFERS) is a $26 billion public defined benefit pension trust.  SFERS currently seeks an experienced professional in a newly created position for Manager of Investment Operations. Reporting to the Deputy Executive Director, the Manager of Investment Operations will oversee and manage Investment Operations Administrative staff to ensure a consistent and high level of operational support to the 25-member Investment Division.  The successful candidate will be responsible for creating and executing new investment operations systems and programs, and developing and managing staff to support the functions.

Essential Functions include:

  • Develop and maintain best in class processes and procedures for the Investment Operations unit.
  • Oversee processes to ensure compliance with internal and external guidelines, policies and regulations relating to the processing of SFERS investments.
  • Directly oversee data processes and record capture with SFERS’ custodian, consultants, investment analytics, accounting, and other systems and confirm accurate records are maintained in all relevant reporting systems.
  • Ensure that all proper internal controls are maintained and current for all investment operations functions.
  • Oversee the cash management process including cash reconciliations with SFERS’ custodian, accounting systems, GPs, consultants, vendors, and other parties.
  • Oversee the completion of foreign currency registration and renewals, compliance requests, and provide support for tax reclaim processes.
  • Manage staff to ensure all investment transactions and records are accurately entered, reconciled, reviewed and recorded.
  • Oversee communications with auditors and responses to third party public information requests.
  • Manage relationships with custodians and core accounting systems.

Minimum Qualifications

  1. Possession of a baccalaureate degree from an accredited college or university; AND
  2. Six (6) years progressive professional investment operations experience, either in investment operations,  investment accounting, or investment management of which three (3) years must include supervising professionals.

Substitution: Additional qualifying experience as described above may be substituted for the education requirement on a year for year basis for up to two (2) years.  No substitution will be allowed for the three (3) years of management/supervising experience. (One year of work experience will be considered equivalent to 30 semester or 45 quarter units of college coursework.


Desirable Qualifications:

The stated desirable qualifications may be used to identify job finalists at the end of the selection process when candidates are referred for hiring.

  • Bachelor Degree in accounting, business administration, finance, operations management, or similar field.
  • Masters in Business Administration or similar advanced degree.
  • Five years of investment operations experience, including three years managing the investment operations, for a public pension plan, endowment, foundation,corporation, consulting firm, or family office, with a minimum of $3 billion in assets and investments in public and private equity, venture capital, real estate, real assets, private debt, absolute return, and fixed income.
  • Highly professional team player with interpersonal skills to successfully interact with colleagues in every asset class of the Investment Office and with service providers, consultants, custodians, and external managers.
  • Demonstrated excellence in people skills, organizational skills, and operations management, including the ability to work independently at a high level and with staff at all levels.
  • Ability to manage multiple tasks for a large investment operation with accuracy, attention to detail, and timeliness.

How To Apply

Applications for City and County of San Francisco jobs are only accepted through an online process. Visit www.jobaps.com/sf to register an account (if you have not already done so) and begin the application process.

  • Select the job announcement PBT-0932-100274
  • Select “Apply” and read and acknowledge the information
  • Select either “I am a New User” if you have not previously registered, or “I have Registered Previously”
  • Follow instructions on the screen

Computers are available for the public (from 8:00 a.m. to 5:00 p.m. Monday through Friday) to file online applications in the lobby of the Dept. of Human Resources at 1 South Van Ness Avenue, 4th Floor, San Francisco.

Applicants may be contacted by email about this announcement and, therefore, it is their responsibility to ensure that their registered email address is accurate and kept up-to-date.  Also, applicants must ensure that email from CCSF is not blocked on their computer by a spam filter.  To prevent blocking, applicants should set up their email to accept CCSF mail from the following addresses (@sfgov.org, @sfdpw.org, @sfport.com, @flysfo.com, @sfwater.org, @sfdph.org, @asianart.org, @sfmta.com, @sfpl.org, @dcyf.org, @first5sf.org).

Applicants will receive a confirmation email that their online application has been received in response to every announcement for which they file.  Applicants should retain this confirmation email for their records.  Failure to receive this email means that the online application was not submitted or received.

All work experience, education, training and other information substantiating how you meet the minimum qualifications must be included on your application by the filing deadline.  Information submitted after the filing deadline will not be considered in determining whether you meet the minimum qualifications.

Applications completed improperly may be cause for ineligibility, disqualification or may lead to lower scores.

If you have any questions regarding this recruitment or application process, please contact the exam analyst, Grace Tam, by telephone at 415-487-7028, or by email at Grace.Tam@sfgov.org.

 

Selection Procedures

Minimum Qualification Supplemental Questionnaire (Weight: Qualifying):

Candidates will be prompted to complete a Supplemental Questionnaire as part of the online employment application. This Minimum Qualification Supplemental Questionnaire is designed to obtain specific information regarding an applicant's experience in relation to the Minimum Qualifications for this position. Applicants must also complete the official application. It is essential that applicants provide complete information in identifying their education, experience and training. The Minimum Qualification Supplemental Questionnaire will be used to evaluate if the applicant possesses the required minimum qualifications.

Management Test Battery: (Weight: 40%)

Candidates will be invited to participate in a computer-based examination designed to measure competencies in job-related areas which may include but not be limited to: Problem Solving; Leadership; Decision Making; Interpersonal skill; Human Resources Management; Team Building; Communication; Conflict Management and Process Improvement. For more information about this Management Test (and a suggested reading list) please visit: http://www.sfdhr.org/index.aspx?page=343. Please note: this examination is only held in San Francisco. A passing score must be achieved on the Management Test Battery to continue in the selection process.

 A passing score must be achieved on the Management Test Battery in order to continue in the selection process.

This is a standardized examination and, therefore, test questions and answers are not available for public inspection or review.

Scores attained on the Management Test Battery will be valid and 'banked' for three years, starting from the date of the examination. This means that, during this three-year time period, you will not be required to take the Management Test Battery. The Management Test Battery may be used for many other classes; therefore your test score may be applied to one or more of these classes if you choose to apply to future recruitments. If the selection process for the future announcement is held within one year of the date of this examination and it includes the Management Test Battery, your score will be automatically applied to that announcement. However, after one year, you have the option to either (a) apply your test score to the other announcement or (b) re-take the Management Test Battery. Re-testing is permitted no sooner than one year from the date of the examination and only in association with your eligibility for another announcement for which the Management Test Battery is used. Please note that, should you re-test, your re-test score would become your official score since it is the most recent.

Supplemental Questionnaire Evaluation: (Weight: 60%)

Applicants who meet the minimum qualifications and pass the Management Test Battery will be sent a supplemental questionnaire. The Supplemental Questionnaire Evaluation is designed to measure knowledge, skills and/or abilities in job-related areas which may include but not be limited to: knowledge of investment accounting and portfolio measurement/reporting; knowledge of generally accepted accounting principles; knowledge of state and federal laws that govern investment practices and pension funds; knowledge of investment operations experience with an investment management firm, pension plan, university, endowment, foundation, corporation, family office, or consulting firm, with at least $1 billion in assets and numerous asset classes including both public and private markets; ability to manage multiple tasks for a large investment operation with accuracy, attention to detail, and timeliness, for an organization with numerous asset classes, many external investment managers, investments both public and private markets, and some co-investments; ability to interact with colleagues in every asset class of the investment office and with service providers, consultants, custodians, and external managers; and ability to research, analyze and interpret complex written materials and investment policy statement and Investment Management Agreement guidelines.

A passing score must be achieved on the Supplemental Questionnaire Evaluation and Management Test Battery in order to be ranked on the eligible list.

Applicants meeting the minimum qualifications are not guaranteed to advance through all of the steps in the selection process. The department may administer additional selection procedures upon certification in order to make a final hiring decision.

Candidates’ scores on this examination may also be applied to other announcements involving other job titles, when directed by the Human Resources Director.

Upon approval of the Human Resource Director (see Civil Service Rule 111A.26.5), the eligible list resulting from this announcement may be used by other departments that also use this classification or a similar classification. To find other Departments which use this classification, please see http://www.sfdhr.org/Modules/ShowDocument.aspx?documentID=21246. Search that document by title or job code to see which departments use the classification.

Conviction History

As a selected candidate for a job, you will be fingerprinted, and your fingerprints will be sent to the California Department of Justice (DOJ) and the Federal Bureau of Investigation (FBI). The resulting report of your conviction history (if any) will be used to determine whether the nature of your conviction (or arrest, in limited circumstances) conflicts with the specific duties and responsibilities of the job for which you are a selected candidate. If a conflict exists, you will be asked to present any evidence of rehabilitation that may mitigate the conflict, except when federal or state regulations bar employment in specific circumstances, such as:

  • Candidates for positions with the Unified School District and the Community College District may be disqualified from consideration should their conviction history not meet the standards established under the California Education Code.
  • Candidates for positions with the Recreation and Park Department may be disqualified from consideration should their conviction history not meet the standards established under California Public Resources Code 5164.

Having a conviction history does not automatically preclude you from a job with the City.

If you are a selected candidate, the hiring department will contact you to schedule a fingerprinting appointment.

Disaster Service Workers

All City and County of San Francisco employees are designated Disaster Service Workers through state and local law (California Government Code Section 3100-3109). Employment with the City requires the affirmation of a loyalty oath to this effect. Employees are required to complete all Disaster Service Worker-related training as assigned, and to return to work as ordered in the event of an emergency.

Conclusion

Eligible List/Score Report:
A confidential eligible list of applicant names that have passed the civil service examination process will be created, and used for certification purposes only. An examination score report will be established, so applicants can view the ranks, final scores and number of eligible candidates. Applicant information, including names of applicants on the eligible list, shall not be made public unless required by law. However, an eligible list shall be made available for public inspection, upon request, once the eligible list is exhausted or expired and referrals resolved. The eligible list/score report resulting from this civil service examination process is subject to change after adoption (e.g., as a result of appeals), as directed by the Human Resources Director or the Civil Service Commission. The duration of the eligible list resulting from this examination process will be of 12 months, and may be extended with the approval of the Human Resources Director. To find Departments which use this classification, please see https://sfdhr.org/sites/default/files/documents/ASO-Level-Chart.pdf?documentID=21246.

Certification:
The certification rule for the eligible list resulting from this examination will be Rule of the List. Additional selection processes may be conducted by the hiring department prior to making final hiring decisions.

Reasonable Accommodation Request:
http://sfdhr.org/getting-job#applicantswithdisabilities

Seniority Credit in Promotional Exams:
http://www.sfdhr.org/index.aspx?page=20#senioritycredit

Veteran’s Preference:
http://sfdhr.org/getting-job#veteranspreference

General Information concerning City and County of San Francisco Employment Policies and Procedures:
http://www.sfdhr.org/index.aspx?page=20

Copies of Application Documents:
http://sfdhr.org/getting-job#copies

Right to Work:
http://sfdhr.org/getting-job#identification

Position Based Testing:
http://sfdhr.org/getting-job#positionbasedtesting

Terms of Announcement:
Applicants must be guided solely by the provisions of this announcement, including requirements, time periods and other particulars, except when superseded by federal, state or local laws, rules or regulations. Clerical errors may be corrected by posting the correction on the Department of Human Resources website at www.jobaps.com/sf. The terms of this announcement may be appealed under Civil Service Rule 111A.35.1. The standard for the review of such appeals is ‘abuse of discretion’ or ‘no rational basis’ for establishing the position description, the minimum qualifications and/or the certification rule. Appeals must include a written statement of the item(s) being contested and the specific reason(s) why the cited item(s) constitute(s) abuse of discretion by the Human Resources Director. Appeals must be submitted directly to the Executive Officer of the Civil Service Commission within five business days of the announcement issuance date.


Combined Entrance & Promotive

Issued: December 4, 2019

Recruitment No.: 100274

Micki Callahan, Director

Team: RET/GT (415) 487-7028

Benefits

All employees hired on or after January 10, 2009 will be required (pursuant to San Francisco Charter Section A8.432) to contribute 2% of pre-tax compensation to fund retiree healthcare. In addition, most employees are required to make a member contribution towards retirement, ranging from 7.5%-13.25% of compensation. For more information on these provisions, please contact the personnel office of the hiring agency.

For more information about benefits, please click here.

 



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