0941 Manager VI - Senior Portfolio Manager

Recruitment #PEX-0941-063048

Introduction

Receipt of applications may close at anytime, but not before Friday, May 9, 2014 by 5:00 PM.

Applicants are encouraged to submit their application immediately.

Appointment Type: Permanent-Exempt (PEX) Appointment. This position is excluded by the Charter from the competitive civil service examination process and shall serve at the discretion of the appointing officer.

 

The San Francisco Employees’ Retirement System offers an exceptional opportunity for the right candidate to serve this historic, well established City Department by engaging 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 53,000 active 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.

Reporting directly to the Managing Director and the Chief Investment Officer, the Senior Portfolio Manager is responsible for designing an investment strategy and rationale for a public equity, alternative equity, or hedge fund portfolio. The incumbent is responsible for conducting full due diligence on external public equity, alternative equity, or hedge fund managers, as well as constructing a portfolio of multiple managers into a coherent strategy that will meet the retirement plans risk and return objectives for an asset class. The incumbent will be the primary person for the oversight, administration, and governance of a public equity, alternative equity, or hedge fund program. The incumbent will also provide leadership, development, and direction to one or more Investment Analysts who together have direct responsibility for the management of a large and complex investment program.

This position will have responsibility for all functions and activities for manager selection and oversight of public equity, alternative equity, or hedge fund managers, assist the Chief Investment Officer Fund in overall asset allocation for the plan as a whole, assist with asset/ liability modeling, sourcing and idea generation for public equity, alternative equity, or hedge fund portfolios, as well as for the investment structure, implementation, and monitoring for an asset class.

The incumbent will develop investment policies for public equity, alternative equity, and hedge fund managers as well as a composite of multiple managers; provide advice on investment structure, programs, execution and policy; manage investment programs, and provide direction to investment staff.

The incumbent will evaluate and report the risk and factor exposures in a public equity, alternative equity, or hedge fund portfolio, at both the manager and composite level. The incumbent will also develop and implement goals, objectives, policies and priorities; evaluate and report on investment performance; evaluate existing processes for managing investment risk; develop consistent approaches to and processes for managing investment risk and return; and implement enhancements to existing processes.


Essential Duties:

  • Conducts complete due diligence on existing and potential external managers. Frequently interacts with external investment managers. Works directly with the Chief Investment Officer and Managing Director to achieve performance and risk objectives.
  • Constructs a multi-manager portfolio while building and maintain a cogent, coherent strategy. Closely monitors portfolio risk and return and the risk and return of individual managers on a regular basis. Directs and monitors the activities of the assigned Investment/Security Analyst(s) as to transaction authority, preparation of reports, computer assisted analysis, and other duties as needed.
  • Monitors domestic and international economic trends and conditions so as to evaluate investment proposal and strategies.
  • Prepares and presents written reports to the Chief Investment Officer and the Managing Director, including recommending strategies, risk and return of individual managers and the portfolio as a whole, and issues of importance to the Public Equity, Alternative Equity, or Hedge Fund program.
  • Interacts with the custodian to direct account cash flows and custodial reporting requirements. Directs and monitors the activities of the assigned Investment/Security Analyst(s) as to transaction authority, preparation of reports, computer assisted analysis, and other duties as needed.
  • Recommends guidelines, procedures, and makes recommendations on investment policy. Insures compliance with investment policy and guidelines.

 

Minimum Qualifications

 
  1. Possession of a baccalaureate degree from an accredited college or university, with major coursework in finance, economics, accounting, business administration or closely related field; AND
  2. Eight (8) years asset management experience, with at least five (5) years investment experience in a public pension plan, university, endowment, foundation, or other investment institution with at least $1 billion in assets; OR at least three (3) years of experience with significant responsibility for the oversight of a public equity or hedge fund portfolio.

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.

  • Possession of a Master’s degree in Business Administration, Economics, or Finance.
  • Possession of Chartered Financial Analyst (CFA) designation.
  • Proven ability to work at a high level of effectiveness with a wide array of people, from managers with highly sophisticated strategies, seasoned internal investment staff, junior analysts, and Board members, is necessary.
  • Experience and skill in understanding and evaluating sophisticated investment strategies, which may include derivatives, options, swaps, forwards, and futures.
  • Experience developing and monitoring complex proposals and contractual agreements.
  • Experience making oral presentations to Boards and Management groups and developing complex plans and reports.

How To Apply

Applications for City and County of San Francisco jobs are being 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 announcement PEX-0941 -063048
  • 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).

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 recruitment analyst, Grace Tam at 415-581-2396.

Verifications:

All applicants may be required to submit verification of qualifying education and experience at any point in the application, examination and /or departmental process. Note: Falsifying one’s education, training, or work experience or attempted deception on the application may result in disqualification for this and future job opportunities with the City and County of San Francisco. For additional information regarding verification, refer to this web URL: http://www.sfdhr.org/index.aspx?page=20#verification

Selection Procedures

Applications will be screened for relevant qualifying experience. Additional screening mechanisms may be implemented in order to determine candidates’ qualifications. Only those applicants who most closely meet the needs of the Agency will be invited to participate in the selection process. Applicants meeting the minimum qualifications are not guaranteed advancement to the interview.

Conviction History

As part of the selection process an image of your fingerprints will be captured and 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) history will disqualify you as a candidate based on the specific requirements of the position to which you are applying. If selected for fingerprinting, the hiring department will contact you to schedule an appointment.

Candidates applying 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 applying 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.

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

Reasonable Accommodation Request:
http://www.sfdhr.org/index.aspx?page=20#applicantswithdisabilities

General Information concerning City and County of San Francisco Employment Policies and Procedures:
Important Employment Information for the City and County of San Francisco can be obtained at http://www.sfdhr.org/index.aspx?page=20 or hard copy at 1 South Van Ness Avenue, 4th Floor.

Copies of Application Documents:
Applicants should keep copies of all documents submitted, as these will not be returned.

Right to Work:
All persons entering the City and County of San Francisco workforce are required to provide verification of authorization to work in the United States.

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.

Issued: April 25, 2014
Recruitment No.: 063048
Micki Callahan, Director
Department of Human Resources
Team: RET/GT
(415) 581-2396

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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