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Type of Role: Investments

Experience Level: Intern - Undergraduate

Location: Helena, Massachusetts

Salary: $50K - $50K

The Public Employee Retirement System (PERS) provides retirement, disability and death benefits to employees of the State of Montana, the Montana University System, local governments and school districts. PERS offers two different retirement plans: The Defined Benefit Retirement Plan and The Defined Contribution Retirement Plan. University system employees have a third option in the Montana University System – Retirement Plan.


The Pension Investment Intern will have the opportunity to work with all investment teams at the Montana Board of Investments (BOI). The investment team is organized around the following investment groups: Fixed Income, Public Markets, Private Investments, Real Estate & Real Assets, Investment Operations, and Risk Management. While some projects are predetermined, there will be ad hoc projects that require innovation and an independent attitude. Strong ability to learn new technology platforms and utilize Microsoft Office (Excel, Word, Outlook, and PowerPoint). Interns will have desktop access to Bloomberg, FactSet, eVestment, Prequin and other investment research tools which will be used to complete assigned tasks. Interns will also meet with many of the Board’s external investment managers and must be able to conduct themselves in a professional manner. Intern candidates should have a strong interest in learning how investment decisions are made in a pension environment.

Overview of Activities and Objectives

  • Interns participate in all aspects of the investment process with exposure to public and private investments managed by BOI. This is a hands-on opportunity to see how institutional investing is performed.
  • Learn and understand the BOI organization and the various roles and functions of the investment teams.
  • Learn how to use applicable investment tools and assist the team in analyzing investment opportunities.
  • Opportunity to communicate ideas in both written and verbal formats.
  • Learn about potential investment opportunities and provide opinion of suitability for the portfolio.

Examples of prior projects include:

  • Performing sector or individual corporate credit analysis for potential fixed income investments.
  • Utilizing eVestment & FactSet to assist the Public Markets team in improving the selection and monitoring of external public market managers.
  • Reviewing the private investment due diligence questionnaire to align with ILPA guidelines.
  • Mapping all BOI real estate holdings on Google Earth.
  • Trading fixed income securities via the Bloomberg platform with supervision.


  • Fulltime student, junior or senior for fall 2024 semester, working towards 4-year undergraduate degree in related field.
  • Strong desire to learn about the investment opportunities for an institutional pension investor.
  • Self-starter with a professional attitude, ability to manage multiple projects and priorities.


  • Proficiency with Microsoft Excel, ability to gather and summarize large data sets.
  • Enrollment or interest in pursuing the CFA program.

This position requires the successful completion of a background check.

NOTE: Summer housing options are available in the community but are not provided by BOI.

Applicant Pool Statement:  If another department vacancy occurs in this job title within six months, the same applicant pool may be used for the selection. Training Assignment:  Not Applicable

Salary: $

 20.00 – 20.00  Hourly Telework Eligibility:  Not Telework Eligible Benefits Package Eligibility:  Retirement Plan Optional

Number of Openings

:  2 Employee Status:  Short Term Schedule:  Full-Time


:  Day Job


:  No

Primary Location

:  Helena    Agency:  Department of Commerce Union:  000 – None

Posting Date

:  Oct 27, 2023, 10:49:03 PM

Closing Date (based on your computer’s timezone)

:  Feb 1, 2024, 6:59:00 AM

Required Application Materials:  Cover Letter, Resume

Contact Name:  Peggy MacEwen    Contact Email:    Contact Phone:  406.444.1365 The State of Montana has a decentralized human resources (HR) system. Each agency is responsible for its own recruitment and selection. Anyone who needs a reasonable accommodation in the application or hiring process should contact the agency’s HR staff identified on the job listing or by dialing the Montana Relay at 711. Montana Job Service Offices also offer services including assistance with submitting an online application.

State government does not discriminate based on race, color, national origin, religion, sex, sexual orientation, gender identity or expression, pregnancy, childbirth or medical conditions related to pregnancy or childbirth, age, physical or mental disability, genetic information, marital status, creed, political beliefs or affiliation, veteran status, military service, retaliation, or any other factor not related to merit and qualifications of an employee or applicant.