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Type of Role: Investments

Experience Level: Intern - Undergraduate

Location: Pasadena, California

Salary: $40K - $55K

The Los Angeles County Employees Retirement Association (LACERA) administers and manages the $73 billion retirement fund for the County of Los Angeles. We provide retirement, disability, and death benefits to eligible County Employees and their Beneficiaries, and collect, deposit, invest, and manage retirement funds collected from the County, Outside Districts, and County Employees.  LACERA is one of the largest county retirement associations in the United States with over 190,000 members. Our membership is comprised of individuals from a diverse range of careers, age groups, and ethnicity – all contributing to the greater welfare of Los Angeles County.

LACERA’s Internship Program give candidates the opportunity to develop in areas such as skills, personal development and life experiences guided by an assigned LACERA Mentor

 

EXAMPLES OF ESSENTIAL JOB FUNCTIONS

 

OVERVIEW BY DIVISION

Interns may be assigned a variety of assignments or projects as designated by Management. There are a variety of Divisions that a candidate may express their interest in. Below are descriptions of each Division:

Administrative Services
The Administrative Services Division is responsible in serving LACERA through various functions. This Division handles items such as Risk Management & Safety/Health Programs, Procurement and Supply, Facilities Management, Document Processing, and Budget Development and Monitoring.
Executive 

The Executive Office is comprised of The Chief Executive Officer, Deputy Chief Executive Officer, Assistant Executive Officers, and Executive Board Assistants. The Executive Office performs functions for LACERA’s Board of Retirement and/or Investments.

The Board of Retirement is responsible for the administration of the retirement system, the retiree healthcare program, and the review and processing of disability retirement applications.

The Board of Investments is responsible for establishing LACERA’s investment policy and objectives, as well as exercising authority and control over the investment management of the retirement fund.

Human Resources

Human Resources is responsible for a variety of administrative and professional duties related to planning, organizing, researching and coordinating various Human Resources functions, including but not limited to, recruitment and selection, classification and compensation, performance management, employee discipline, labor relations, employee benefits, and employee development.

Investments
The Investments staff’s primary responsibility is developing and recommending prudent investment policies for Board of Investments approval to help the fund achieve its minimum return objective. The investment staff is also responsible for implementing and monitoring Board-approved programs and policies.
Legal
The Legal Division is responsible for providing legal advice and representation to LACERA and its Boards of Retirement and Investments.  The student interns will work in and support Legal Office staff and attorneys across its various sections, including Litigation/Employment, Investments, Disability, and Benefits. Duties may include performing factual and legal research and investigations, drafting memos, document filing, data entry, preparing correspondence, court documents and other written work, processing invoices, handling mail, attending Board meetings and making presentations, and supporting other Legal Office projects as requested by office staff.
Systems

The Systems Division (Systems) oversees all aspects of information technology for LACERA.  Systems provides technology support services through the infrastructure team, creates innovative and secure application solutions through the Business Solutions team, and manages organizational technology projects that provide solutions to business operational pain paints and systems gaps in efficiencies. Systems is vital in the development and maintenance of mission-critical computer applications.

Quality Assurance & Metrics

The Quality Assurance Division conducts quality assurance audits of benefit-related transactions on behalf of LACERA’s members and their beneficiaries. The information gathered in the audits are used in conjunction with established operating procedures to develop training programs for new and existing staff. Incumbents of these positions are charged with the responsibility for supporting the auditing and training functions through the development and implementation of various process improvement tools using Microsoft Office and other desktop applications.

 

REQUIREMENTS

 

SELECTION REQUIREMENTS:
  1. A completed online application must be submitted on LACERA’s NeoGov site, along with completion of the supplemental questionnaire.
  2. A cover letter, resume, and copy of latest school transcripts must be attached to application.
  3. The Internship Program is open only to currently enrolled students either pursuing an Associates, Undergraduate, Graduate, or Doctorate degree. A student may either be attending school on a full-time or part-time status.
  4. No less than an overall C (2.0) grade point average (GPA).
  5. Must pass a security clearance background and credit check.
  6. To prevent related party conflicts of interest, LACERA may not contract with a person who is related to: a Board Member, the Chief Executive Officer, anyone reporting directly to the Chief Executive Officer, or anyone serving as a Division Head.
    • Related parties of other LACERA staff members may be considered for contract with LACERA provided the candidate possess all the selection criteria. Such a related party may not be contracted to a position which would: (1) Create either a direct or indirect supervisor/subordinate relationship with a related party; or (2) Create either an actual conflict of interest or the appearance of a conflict of interest.

SCHEDULE:

  1. Interns will be given the opportunity to work flexible hours. The working times must be within the days of Monday through Friday from the hours of 8:00 am to 5:00 pm.
  2. Interns working five (5) hours per day must take a minimum thirty (30) minute/ maximum sixty (60) minute, non-paid lunch break. Interns working eight (8) hours per day will be given two (2) 15-minute breaks and must take a non-paid lunch break.
  3. Management has the discretion to dictate the number of hours that the Intern will complete each week.
  4. Interns will not be allowed to work more than forty (40) hours per week.

 

ADDITIONAL INFORMATION

HOW TO APPLY:

Please complete an online application and answer all supplemental questions.

In addition, please attach to your application a (1) cover letter, (2) resume, and a (3) copy of your most recent school transcript that shows your overall GPA and grade level.

All requested information must be attached with your application at the time of filing to be considered. Failing to attach any of the above documents may disqualify you as being eligible due to an incomplete application.

FILING PERIOD:

All application information will be kept on file for no more than one (1) year from the date of submission. Applicants will need not re-apply if still within the one (1) year time-frame.

COMPENSATION:

Interns will be given compensation based on their grade level at the time of assignment. Undergraduates will be assigned up to $20.00 per hour. Graduate students and above will be assigned up to $27.00 per hour.