Definition
Serves as a senior investment manager, overseeing significant elements of the investment portfolio of the Iowa Public Employees Retirement System; performs related work as required.
Work Examples
Monitors and manages relationships with external investment managers; leads searches for management services for assigned asset class; negotiates investment management agreements (including risk budget, benchmarks, etc.), amendments, and fees.
Monitors daily active risk levels and performance, takes actions as required by procedures and policies.
Actively researches and evaluates investment strategies; communicates opinions on potential strategies to chief investment officer (CIO).
Actively participates in the investment team’s strategic asset allocation (SAA) and tactical asset allocation (TAA) discussions.
Implements internal investment strategies according to Board policy and under the supervision of the CIO.
Authorizes cash and security wire transfers, in-bank transfers, and places foreign currency trades and commingled fund redemptions and purchases.
Performs or backs-up various daily cash management functions.
Prepares and presents information to the IPERS Investment Board on topics assigned by the CIO.
Competencies Required
- Investment – Investment principles, especially the concepts of risk and return, diversification, the time value of money, and compound interest.
- Economics and Accounting – Economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
- Administration and Management – Business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.
- Law and Government – Laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
- Mathematics – Arithmetic, algebra, geometry, calculus, statistics, and their applications.
- English Language – Structure and content of the English language, including the meaning and spelling of words, rules of composition, and grammar.
Law and Government – Understand and adhere to applicable laws, legal codes, administrative rules, and regulations.
Oral Comprehension – Listen to and understand information and ideas presented through spoken words and sentences.
Oral Expression – Communicate information and ideas in speaking so others will understand.
Deductive Reasoning – Apply general rules to specific problems to produce answers that make sense.
Inductive Reasoning – Combine pieces of information to form general rules or conclusions.
Problem Sensitivity – Tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing there is a problem.
Monitoring – Monitoring/Assessing performance of yourself, other individuals, or organizations to make improvements or take corrective action.
Critical Thinking – Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
Complex Problem Solving – Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
Active Learning – Understanding the implications of new information for both current and future problem-solving and decision-making.
Active Listening – Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
Reading Comprehension – Understanding written sentences and paragraphs in work related documents.
Speaking – Talking to others to convey information effectively.
Judgment and Decision Making – Considering the relative costs and benefits of potential actions to choose the most appropriate one.
Minimum Qualification Requirements
Applicants must meet at least one of the following minimum requirements to qualify for positions in this job classification:
Graduation from an accredited four-year college or university with a degree in finance, economics, business administration, or a quantitative field (e.g., mathematics, engineering, computational finance, physics, etc.), and experience equal to five years of full-time investment portfolio management work for a stock exchange, investment or banking firm, public or private pension system, or treasurer’s office.
All of the following (a, b, and c):
Three years of full-time investment portfolio management work for a stock exchange, investment or banking firm, public or private pension system, or treasurer’s office; and
A total of four years of education and/or full-time experience (as described in part a), where thirty semester hours of accredited college or university course work in finance, economics, business administration, or a quantitative field (e.g., mathematics, engineering, computational finance, physics, etc.) equals one year of full-time experience; and
A total of two years of graduate-level education and full-time experience (as described in part a), where twenty-four semester hours of accredited graduate college or university course work in finance, economics, business administration, or a quantitative field (e.g., mathematics, engineering, computational finance, physics, etc.) equals one year of full-time experience.
Current, continuous experience in the state executive branch that includes eighteen months of full-time work as a Retirement Investment Officer.