The Emerging Manager Program Director performs highly complex (senior-level) private and public market investment management work. Work involves sourcing and performing due diligence analysis of potential investment opportunities, and managing the day-to-day oversight of the emerging manager portfolio. Works under limited supervision with considerable latitude for the use of initiative and independent judgment. This position reports to the Deputy Chief Investment Officer.
Compensation: The TRS Investment Management Division offers an attractive compensation package consisting of base salary, annual performance incentive bonus, a defined-benefit pension plan as well as 401(k) and 457 retirement plans, and comprehensive benefits.
State Classification: (1153/Portfolio Manager IV/B33/Exempt)
ESSENTIAL JOB FUNCTIONS AND RESPONSIBILITIES
Act as an ambassador to the market, representing TRS in the emerging manager marketplace at all conferences and related events, and with managers and all support/trade organizations.
Work closely with and leverage TRS' internal staff across private equity, real estate, hedge funds and long only asset classes as well as TRS' EMGR partner-consultants on all aspects of the program's business, including strategy, sourcing, diligence, execution and asset management.
Provide thought leadership on branding of TRS' EM program, including management of the annual TRS Emerging Manager conference, outreach to media and news organizations as well as other members of the community, and by acting as a spokesperson for TRS' efforts and vision.
Assist with various Management Committee initiatives such as Diversity and Inclusion.
Manage, expand and further develop TRS' extensive network of small, emerging and rising managers across the private and public market spectrum.
Develop and maintain professional relationships and contacts within the investments industry in order to conduct searches and gain knowledge of appropriate investment opportunities.
Conduct manager meetings, review manager marketing materials and coordinate outreach with EM partner-consultants as appropriate.
Direct TRS staff and EM partner-consultants in developing annual capital plan, including manager selection, allocation sizes, and asset mix.
Manage investment opportunity pipeline across all asset types and review and approve/decline Investment Recommendations from EMGR partner-consultants, providing feedback and authorization alongside other members of the EM Program Advisory Board.
Assist in defining, negotiating, and monitoring the investment management partnerships.
Review due diligence of investment manager organizations including conducting reference checks and evaluating the organization's process, portfolio exposures, risk management, terms, operations, transparency, and performance.
Communicate analysis of investment opportunities, results, and recommendations with the relevant senior staff via verbal and written reports and presentations, including qualitative and quantitative reports, memoranda, and spreadsheets.
Assist with the development and monitoring of portfolio of public and private assets, including quarterly manager calls and advisory board meetings.
Respond to daily manager interactions, whether prospective or existing.
Work as part of a team to implement best operational and risk management practices.
Work with TRS portfolio management systems such as eFront and Tamale.
Performs related work as assigned.
MINIMUM QUALIFICATION REQUIREMENTS/LICENSES AND CERTIFICATIONS
Bachelor's degree from an accredited four-year college or university with major coursework in business administration, finance, accounting, economics, marketing or a related area.
Seven (7) years of full-time investment management, financial services or investor relations experience.
Registration, Certification, or Licensure:
Master of Business Administration (MBA) or Master's degree related to finance.
Experience managing external relationships with various geographies, strategies, and levels of risk.
Experience underwriting principal real asset transactions
Experience with and knowledge of industry benchmarks and performance reporting.
Experience with public market and private market assets.
Certification as a Chartered Financial Analyst (CFA) or Chartered Alternative Investments Analyst (CAIA), or progress toward obtaining such certification.
Veterans / Military Crosswalk:
TRS is committed to maintaining a veteran-friendly workplace and attracting, developing and retaining military service members as employees. To assist in determining whether your military experience may relate to the minimum qualifications for this position, Military Occupational Specialty (MOS) codes from each branch of the armed forces have been assigned to each state classification title where applicable.
Depending upon actual duties, the following fields may pertain to the minimum qualifications of this position. Candidates who meet the minimum qualifications for this position are highly encouraged to apply.
U.S. Army Occupational Codes – No military equivalent.
U.S. Navy Ratings and Designators – No military equivalent.
U.S. Coast Guard Ratings – No military equivalent.
U.S. Marine Corps Occupational Fields – No military equivalent.
U.S. Air Force Specialty Codes – No military equivalent.
Please contact the TRS Human Resources Department or the TRS Veterans Liaison with questions or for additional information.
Additional Military Crosswalk information can be found at:
KNOWLEDGE SKILLS AND ABILITIES/PHYSICAL REQUIREMENTS
Public and private market valuation metrics and markets
Investment concepts, terminology, styles, models, strategies, and fundamental investment factors
Institution portfolio management
Making presentations to groups with varied levels of investment knowledge
Establishing and maintaining communication and relationships with many external parties
Using a computer in a Windows environment with word processing, spreadsheet, presentation, database, and other business software to prepare correspondence, spreadsheets, charts, and reports
Planning, organizing, and prioritizing work assignments to manage a high-volume workload in a fast-paced and changing environment
Completing detailed work with a high degree of accuracy
Verbal and/or written communication of complex information that is accurate, timely, and based on sound judgment
Establish and maintain harmonious working relationships with co-workers, agency staff, and external contacts
Work effectively in a professional team environment
Physical Requirements and/or Working Conditions
Work is performed in a standard office environment and requires:
normal cognitive abilities including the ability to learn, recall, and apply certain practices and policies;
marginal or corrected visual and auditory requirements;
constant use of personal computers, copiers, printers, and telephones;
the ability to move about the office to access file cabinets and office machinery;
frequent sitting and/or remaining in a stationary position; and
the ability to work under deadlines, as a team member, and in direct contact with others.
Must be able to:
travel frequently for work assignments and trainings;
regularly, reliably, and punctually attend work;
work extended hours as necessary;
show flexibility and adaptability toward changes in assignments and work schedules;
adhere to the agency's internal management policies and procedures; and
exhibit work behaviors consistent with agency core values.