1114 Senior Portfolio Manager - Private Equity

Recruitment #PEX-1114-113190

Introduction

CONDITION OF EMPLOYMENT:  All City and County of San Francisco employees are required to be vaccinated against COVID-19 as a condition of employment.  For details on how it is applicable to your employment, please click here.

Receipt of applications may close at anytime, but not before Tuesday, September 7, 2021 by 5:00 P.M.

Applicants are encouraged to submit their application immediately.


Appointment Type: This permanent exempt 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 candidates 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 75,000 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.

The San Francisco Employees Retirement System seeks an experienced investment professional for the position of Senior Portfolio Manager ("SPM") for its private equity portfolio, which includes buyouts, venture capital, growth capital and special situations investments. Reporting to the Director of Private Equity, the SPM and the Private Equity team are responsible for the oversight and management of SFERS' large and growing private equity portfolio.  The SPM will have primary responsibility for SFERS' buyout partnerships and will have the opportunity to help construct and manage a global private equity portfolio through the sourcing, underwriting, execution and active management of global investment partnerships and co-investments.

Examples of primary duties may include:

  • Source and conduct due diligence on private equity funds and co-investments to help construct an investment portfolio in accordance with SFERS’ Private Equity strategy and risk-adjusted return objectives for the asset class.
  • Evaluate investment opportunities, including meeting with investment managers to assess their qualifications and track records, conducting reference checks, and identifying any significant issues to be addressed during the course of due diligence.
  • Prepare and present detailed investment recommendations (both written and oral) to the Managing Director, CIO and Retirement Board for review and approval.
  • Review, evaluate and negotiate key partnership terms and legal agreements.
  • Monitor existing Private Equity portfolio, including frequent, direct interaction with SFERS’ investment managers globally.
  • Conduct comprehensive review of the existing investment portfolio and provide recommendations for improvement/optimization.
  • Review and provide recommendations for SFERS’ Private Equity strategies, including the review of appropriate asset class goals and objectives, asset allocation, cash flow forecasting, and investment pacing.
  • Work closely with SFERS’ Private Equity consultant(s) to achieve asset class goals and manage portfolio in accordance with the Private Markets Investment Guidelines.
  • Work collaboratively within the Private Equity team structure, including assisting with the training and mentoring of junior team members.
  • Assist with administrative tasks as necessary.

Minimum Qualifications

These minimum qualifications establish the education, training, experience, special skills and/or license(s) which are required for employment in the classification.  Please note, additional qualifications (i.e., special conditions) may apply to a particular position and will be stated on the exam/job announcement.

Education:

Possession of a baccalaureate degree from an accredited college or university with major coursework in finance, economics, business administration, accounting, statistics, or related field.

Experience:

Six years of investment experience with an investment management firm, pension plan, university, endowment, foundation, corporation, family office, or consulting firm.

Substitution:

Possession of a graduate degree in Business Administration, Finance, Statistics, Investment Management, Economics or similar field, or possession of the Chartered Financial Analyst (CFA) designation, may be substituted for an undergraduate degree in a different field than described above.

Three (3) years of investment management experience at the Senior Portfolio Manager level or higher with an investment management firm, pension plan, university, endowment, foundation, corporation, family office, consulting firm or other investment institution with at least $1 billion in assets, or seven years of such responsibility with a firm of any size, may substituted for an undergraduate degree in a different field than described above.

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.

  • Broad and extensive private markets investment experience in private equity.
  • Meaningful active relationships with private equity investment managers at the lower end of the market.
  • Extensive direct and co-investment experience in private equity investments.
  • Experience and skill in understanding and evaluating sophisticated investment strategies and concepts, as well as global private equity trends and developments.
  • Experience in reviewing, evaluating and negotiating complex partnership and contractual agreements.
  • Ability to work independently as well as in a collaborative, team-oriented environment.
  • Excellent written, oral and interpersonal communication skills, strong attention to detail.
  • Proven ability to build networks and positive working relationships with key internal and external contacts.
  • Excellent judgment, integrity and personal values.
  • Willingness to travel globally up to 20-25% of time.
  • Demonstrated proficiency with Microsoft Excel.
  • Possession of a Master’s degree in business administration, finance or economics and/or a Chartered Financial Analyst (CFA) designation. 

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 PEX-1114-113190
  • 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

In line with the Official Public Health Order to slow the spread of COVID-19, “shelter-in-place” has been issued for all San Francisco residents that is expected to be in effect until further notice. As a result, Department of Human Resources (DHR)’s office (located at 1 South Van Ness Avenue, 4th Floor, San Francisco, CA 94103) is currently closed to the general public. If you have any questions, please feel free to email the Human Resources Analyst listed on this announcement.

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 or disqualification.

If you have any questions regarding this recruitment or application process, please contact the recruitment analyst, Tess Bobila, by telephone at 415-487-7026, or by email at Tess.Bobila@sfgov.org.

Verification:

Applicants may be required to submit verification of qualifying education and experience at any point during the recruitment and selection process. If education verification is required, information on how to verify education requirements, including verifying foreign education credits or degree equivalency, can be found at http://sfdhr.org/index.aspx?page=456

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.

Selection Procedures

Applicants will be prompted to complete a Supplemental Questionnaire as part of the online application process. All applicants must complete the Supplemental Questionnaire and it must be submitted with the application by the final filing deadline. The information provided on the Supplemental Questionnaire must be consistent with the information on the application and is subject to verification. Applicant responses to the Supplemental Questionnaire will be used to assist in determining if applicants meet the minimum qualifications for the position.


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 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

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://www.sfdhr.org/index.aspx?page=20#copies

Reasonable Accommodation Request:

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

Right to Work:

http://www.sfdhr.org/index.aspx?page=20#identification

Issued: August 19, 2021

Recruitment No.: 113190

Carol Isen, Director of Department of Human Resources

RET/TB (415) 487-7026

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.

 


Click on a link below to apply for this position:

Fill out the Supplemental Questionnaire and Application NOW using the Internet.
View and print the Supplemental Questionnaire. This recruitment requires completion of a supplemental questionnaire. You may view and print the supplemental questionnaire here.

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