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Type of Role: InvestmentsResearch

Experience Level: Analyst/Associate

Location: Des Moines, Iowa

Salary: $108K - $153K

The Iowa Legislature created IPERS in 1953 to attract and retain quality public employees, including those who teach our children, maintain our roads and parks, care for our most vulnerable residents, and protect our citizens. Today, IPERS’ Trust Fund continues to hover around $40 billion and pays more than $2.5 billion in annual benefits.

Job Description

The Iowa Public Employees’ Retirement System (IPERS) is seeking qualified candidates for an Investment Associate – Quantitative position. IPERS is the state’s largest public retirement system serving over 375,000 active, inactive, and retired members covering public employees across Iowa.

An individual in this position will be responsible for designing and building scalable cloud-based financial data processing systems, as well as implementing machine learning pipelines. The position involves implementing and learning leading edge fintech strategies in the defined benefit pension space. Opportunities involve networking and developing relationships with best-in-class investment firms, as well as access to the latest research and best ideas. Collaboration with senior staff investors provides mentorship and individual development from institutional portfolio managers and traders. Finally, staff are provided with the autonomy and latitude to develop and test new ideas and are encouraged to seek out continuous improvement by deepening their domain knowledge in the finance and quantitative spaces.

Job Requirements:
• Work well in a collaborative environment, encouraging knowledge sharing and the application of new and different methodologies
• Design and build a quantitative research platform for investment analysis and strategy prototyping. Manage and maintain platform data, applications, and models
• Contribute quantitative support and analysis for investment research involving:

  • Alternative risk premia
  • Derivatives trading
  • Strategic and tactical asset allocation
  • Portfolio optimization and construction of systematic strategies
  • Scenario Analysis
  • Risk management
  • Performance attribution/decomposition
  • External manager evaluation, selection, and ongoing monitoring

• Participate with senior investment officers in strategy implementation, trading, and portfolio management.

  • Actively participate in a mission driven culture
  • Communicate opinions and ideas to the CIO and senior investment staff
  • Create and present materials for review by IPERS Investment Board

Desirable Criteria:
• Knowledge of financial instruments including derivatives, swaps, options, and futures
• Design and development experience in data science and/or text analytics platforms
• Knowledge and experience conducting modeling exercises in R, Python, or SQL
• Proficiency with financial data management and warehousing
• Skills: AWS, Snowflake Cloud, Matillion, MS Excel, Access, Power BI

Finalists will be subject to a background check.

 

Minimum Qualification Requirements

Applicants must meet at least one of the following minimum requirements to qualify for positions in this job classification:

1) 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 three years of full-time work in investment portfolio management or investment or quantitative research for an investment or banking firm, public or private pension system, public or private foundation or endowment, or treasurer’s office.
2) All of the following (a and b):

a. Three years of full-time work experience in investment portfolio management or investment or quantitative research for an investment or banking firm, public or private pension system, public or private foundation or endowment, or treasurer’s office; and
b. 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.