CalPERS seeks a Portfolio Manager to work under the general direction of the Senior Portfolio Manager of the Investment Office, Absolute Return Strategies Program. The Portfolio Manager assigned to the position identified above demonstrates the CalPERS Core Values (Quality, Respect, Integrity, Openness, Accountability, and Balance), works well as a member of a team, and takes initiative in effectively performing the following functions:
Duties include but are not limited to:
- Evaluate, develop, and recommend innovative and effective hedge fund strategies to the SPM in order to enhance the risk and return characteristics of the ARS Program.
- Conduct investment due diligence on new hedge fund managers, and work with sub-advisors/consultants in conducting research on individual hedge fund (HF) strategies and constructing risk reports that best capture the overall risk of the program.
- Monitor current managers for adherence to internal guidelines and risk controls.
- Monitor regulatory issues specific to individual hedge funds.
- Oversee and monitor the hedge fund-of-fund's (HFoF's) to ensure adherence to the specified strategies
- Review and evaluate prospective hedge funds being considered for the HFoFs .
- Identify prospective HF's within the HFoF's for inclusion in the direct hedge fund portfolio
- Develop and implement improvement efforts related to the administrative aspects (accounting, compliance, legal and risk reporting) of the ARS Program in order to remain aligned with industry standards as the industry evolves.
- Plan, organize and direct all functions associated with portfolio analytics, reporting, research and database systems; assist with incorporating the underlying hedge funds into the accounting and risk platform provided by the hedge fund administrator and other systems providers.
- Assist in the preparation and presentation of the Annual Program Review for Investment Committee meetings. The presentation discusses highlights of the policy compliance, portfolio performance returns, portfolio risk attributes and current research market data.
Minimum Requirements and Experience:
- Bachelor's degree in business administration, economics, finance, or a closely related field
- Five years of broad and extensive investment management experience for a major financial institution or firm, or government agency, including some experience leading or coordinating professional staff. OR
- One year of experience in the California state service performing the duties of an Investment Officer III, Retirement Systems, or two years of experience in the California state service performing the duties of an Investment Officer II, Retirement Systems.
- Master's in business administration, economics, finance, or a closely related field.
- 4-6 years hedge fund investment related experience
- High standards for fiduciary duty
- Ability to effectively manage multiple projects and priorities
- Strong organizational skills
- Function in a professional and respectful manner as a highly cohesive and effective team
- Excellent written and verbal communication skills, including making presentations
- Ability to actively collaborate with and be responsive to all units within CalPERS Investment Office, CalPERS and external interested parties
- Strong leadership and team management skills
- Demonstrated experience in training and development of a diverse team towards common objectives
- Chartered Financial Analyst certification completed or in progress
To view the position's duties and responsibilities select Duty Statement
WHO MAY APPLY:
Individuals who are currently at the Portfolio Manager level or who are eligible for transfer or list appointment to this level are encouraged to apply online by selecting the "Apply" link above. A Training & Development assignment (T&D) may be considered. Appointment may be subject to SROA/Surplus restrictions.
If you do not have internet access, please complete and mail a paper Standard State Application (STD. 678). In the Explanations section on the STD. 678, all applicants must indicate the basis of eligibility (e.g. SROA, Surplus, reemployment, reinstatement, transfer, or list eligibility, etc.). Surplus applicants applying by paper must attach a copy of their surplus letter with their paper application. All paper applications must be postmarked by the final filing date and mailed to the following address:
Human Resources Division - JOB#00445
400 Q Street, LPN, Room 3260
Sacramento, CA 95811
PLEASE NOTE: Applicants submitting a paper application must reference the JOB# in the "Job Title" section of the STD. 678. In addition, Applicants submitting a paper application must print and attach any supplemental questions, statement of qualifications, or additional attachments as noted in the job bulletin or their application may be considered INCOMPLETE.
PLEASE NOTE: Possession of minimum qualifications will be verified prior to interview and/or appointment. If it is determined an applicant does not meet the minimum qualifications, the application will be forwarded to the State Personnel Board for review and the applicant's name may be removed from the eligibility list.
Through June 30, 2013, full-time employees' monthly pay will be reduced by 4.62% in exchange for eight (8) hours of leave. Part-time employees shall be subject to the pay reduction on a pro-rated basis consistent with their time base.