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Job Summary:
Are you looking for a career where you can make a difference? Would you like to be part of a culture that promotes learning and collaboration while helping employees with what they need to succeed and thrive? If so, Public Safety Personnel Retirement System (PSPRS) is looking for talented people who will help us achieve our goal of honoring the contributions and sacrifices of Arizona’s public safety employees by providing outstanding service to those who protect and govern our state. At PSPRS we understand that it begins with outstanding talent. It all begins with you. Join our diverse and inclusive team where you’ll feel valued and inspired to contribute your unique skills and experience.
The mission of Public Safety Personnel Retirement System is to deliver unparalleled service in providing retirement benefits to Arizona’s community of police officers, firefighters, corrections officers, judicial and elected officials. PSPRS serves approximately 60,000 active and retired public employees. We offer competitive pay and excellent benefits to those eager to serve our membership and mission. Interested applicants can visit www.psprs.com to learn more about our agency.
JOB SUMMARY:
Arizona's Public Safety Personnel Retirement System (PSPRS) is looking for a Senior Portfolio Manager to oversee the Diversifying Strategies and Fixed Income portfolios. The Senior Portfolio Manager, who reports directly to the Chief Investment Officer, is in charge of monitoring all aspects of the accounts, including working with external advisers and fund managers and representing the PSPRS Trust on appropriate Advisory Boards. The Senior Portfolio Manager is responsible for reviewing and selecting external funds, direct investments (including listed securities), and co-investments in collaboration with analysts and external consultants, as well as serving as the primary point of contact in legal negotiations. The Senior Portfolio Manager oversees the Trust's research operations within areas of responsibility and may report to the Board of Trustees. Importantly, Portfolio Managers are expected to have a multi-asset class mindset and to actively engage throughout the portfolio, either formally or informally to other asset classes. As a result, experience in, and willingness to work in, a wide range of asset types is necessary.
The Diversifying Strategies portfolio holds both liquid and illiquid assets, among them gold ETFs, hedge fund allocations, and royalties. Every investment in it must clear two tests: a return above 8% and little to no correlation to the S&P 500. The Fixed Income portfolio is currently indexed to an investment grade benchmark, and the portfolio manager will guide strategy for that account going forward. The two mandates ask for different habits of mind. One calls for judgment about assets that do not fit a standard box and often lack clean comparables. The other calls for discipline about rates, credit, and the cost of any step away from the index. We want a senior investor who can do both, and who can tell us which one the market is paying for at any given time.
This position may offer the ability to work remotely, within Arizona, based upon the department's business needs and continual meeting of expected performance measures.
The State of Arizona strives for a work culture that affords employees flexibility, autonomy, and trust. Across our many agencies, boards, and commissions, many State employees participate in the State’s Remote Work Program and are able to work remotely in their homes, in offices, and in hoteling spaces. All work, including remote work, should be performed within Arizona unless an exception is properly authorized in advance.
Job Duties:
- Partners with the Trust's Specialty Consultant(s) as appropriate, in the review of investment opportunities, including fund commitments, direct investments, co-investments and other strategic and/or tactical positions and makes necessary recommendations to the CIO.
- Compile, assemble and summarize various data, metrics, market information, industry analysis, economic analysis (macro-micro) concerning the Fund's investments and prospective investments and present such along with conclusions and recommendations, in an accurate, articulate and efficient fashion to Senior Staff and others as directed.
- Review qualitative and quantitative data regarding portfolio performance, risk structure and operations.
- Identify key technical and fundamental trends within asset classes, making appropriate recommendations to the CIO as needed.
- Review all external relationships on a quarterly basis informing the CIO of material developments.
- Assist the CIO in drafting investment policies specific to the Senior Portfolio Manager's area(s) of focus.
- Prepare performance attribution reports.
Knowledge, Skills & Abilities (KSAs):
Knowledge of:
- Best practices in investment manager due diligence and fund level research.
- Strong knowledge of credit and income strategies as well as hedge fund trading programs.
- Technical and fundamental value drivers within specific asset classes.
Skill in:
- Using quantitative analysis to assess an investment manager's skill and value.
- Evaluating liquid and illiquid investment opportunities, both directly and through fund managers.
- Risk analysis.
Ability to:
- Think probabilistically and frame decisions across a range of outcomes.
- Work independently and assertively to execute key strategic initiatives with little guidance.
- Work across markets, evaluating investment opportunities.
- Effectively communicate to differing department, division and agency levels.
- Work effectively within both an independent and team environment.
- Prepare and present in group/public settings.
Selective Preference(s):
- Bachelor's or advanced degree from an accredited college or university in finance, economics, business or related field.
- CFA, CAIA, CFM or other investment industry recognized certifications.
Pre-Employment Requirements:
Employment is contingent on the selected applicant passing a background investigation to include credit and criminal history.
If this position requires driving or the use of a vehicle as an essential function of the job to conduct State business, then the following requirements apply: Driver’s License Requirements.
All newly hired State employees are subject to and must successfully complete the Electronic Employment Eligibility Verification Program (E-Verify).
Benefits:
At PSPRS, we promote the importance of work/life balance by offering workplace flexibility, a learning environment and a team oriented culture. Among the many benefits of a career with PSPRS, are 10 paid holidays per year, accrual of sick and annual leave, affordable medical benefits, participation in the Arizona State Retirement Plan (after 6 months of employment), optional participation in a 457 deferred compensation program, and employer matching on employee deferrals in the 457 plan (limited to a matching of 6% of salary on a per pay period basis).
By providing the option of a full-time or part-time remote work schedule, employees enjoy improved work/life balance, report higher job satisfaction, and are more productive. Remote work is a management option and not an employee entitlement or right. An agency may terminate a remote work agreement at its discretion.
Learn more about the Paid Parental Leave program here. For a complete list of benefits provided by The State of Arizona, please visit our benefits page
Retirement:
Positions in this classification are required to participate in the Arizona State Retirement System (ASRS). Please note that enrollment eligibility becomes effective after 27 weeks of employment.
Contact Us:
If you have any questions please feel free to contact Andrew Goodwin at [email protected] or 602-296-3738 for assistance.
The State of Arizona is an Equal Opportunity/Reasonable Accommodation Employer.
