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Type of Role: Investments

Experience Level: Analyst/Associate

Location: Chicago, Illinois

Salary: $65K - $85K

The Illinois State Board of Investment (ISBI) manages the defined benefit assets of the State Employees’ Retirement System, the General Assembly Retirement System, the Judges’ Retirement System of Illinois, the Illinois Power Agency, as well as the State of Illinois Deferred Compensation Plan.

Overview: 

The Investment Analyst will primarily provide support in conducting investment due diligence, analysis and monitoring of external investment advisors and investment managers for the Illinois Growth and Innovation Fund (“ILGIF”) of the Treasurer’s Office. This position will assist supporting operations for the Alternative Investments division and will utilize best practices to continually assess investment managers, portfolio construction and measure investment performance of alternative investment managers including, but not limited to, venture capital, private equity, and private credit focused strategies. The Investment Analyst will advise senior management as to the performance of the program, in addition to interacting with many divisions within the Treasurer’s Office in the interest of achieving underlying investment objectives. The Investment Analyst will gain exposure to other alternative investment assets that the Treasurer’s Office administers. Attendance is an essential function of this position.

Duties and Responsibilities:

  • Measures and evaluates investment performance results of approved external investment managers for the ILGIF investment program.
  • Assists in investment and operational due diligence, conducting qualitative and quantitative due diligence of prospective and approved ILGIF investment managers.
  • Contributes to the production of analytical investment memos, standard operating procedures, analytical spreadsheets/visual representations, and other special projects in a timely manner.
  • Actively collaborates with strategic partners to maximize the impact and effectiveness of the ILGIF program. This includes, but is not limited to, strategizing with current and future strategic partners to further support the startup ecosystem in Illinois and assisting in the ILGIF grant evaluation and decision-making.
  • Communicates and advises the Deputy Director of Alternative Investments, senior leadership, and other members of the Alternatives Investments team as to the performance of each investment manager, creating reports, summarizing findings, and presenting analyses to senior management in a clear, concise, convincing, and actionable format.
  • Assist in performing timely review of monthly, quarterly, annual and special reports issued by the program manager to ensure the completeness and accuracy of the content, and to ensure that senior management are well-positioned to assess the effectiveness of investment and program manager performance.
  • Maintains a comprehensive understanding of the Treasurer’s Office investment policies, relevant statutory requirements, and other pertinent guidelines to ensure effective analysis, reporting, and compliance.
  • Supports operational activities that promote venture capital, private equity, and private credit investments in Illinois.
  • Actively collaborates with Directors, Deputy Directors, Managers, and other Investment Analysts in the Treasurer’s Office with responsibilities relating to the ILGIF.
  • Supports operational needs of the programs under the Alternative Investments division.
  • Performs other duties as assigned or required which are reasonably related to the duties enumerated above.

Specific Skills:

  • Understanding of the alternative investments and the financial services industry
  • Understanding of the private markets and financial services industry
  • Quantitative analysis skills
  • Detail-oriented
  • Ability to multi-task and prioritize effectively.
  • Excellent written and oral communication skills.
  • Strong interpersonal skills with the ability to work in a team environment.
  • Maintain satisfactory working relationships.
  • Relationship management skills
  • Microsoft Office skills
  • Database management and visualization skills
  • Desire to innovate, learn, and grow.
  • Interest and experience in Sustainable Investment frameworks

Education and Work Experience:

Bachelor’s degree in accounting/business administration/finance/economics or a related field, preferred; 0 to 3 years of experience in areas of financial analysis, portfolio management, investments, alternative investments, finance, project management and/or a related field; OR any equivalent combination of experience and training that provides the required knowledge, skills and abilities to carry out the duties of the position. Applicants with diverse backgrounds/experience encouraged to apply.

Certificates and Licenses Preferred or Required:

Progress to completion of either Chartered Financial Analyst (CFA), Chartered Alternative Investment Analysts (CAIA) or a comparable investment certification is preferred, with knowledge of CFA’s Global Investment Performance Standards and/or investment fiduciary best practices.