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Type of Role: Investments

Experience Level: VP/Principal/Director

Location: Olympia, Washington

Salary: $81K - $135K

The Washington State Investment Board (WSIB) is a dedicated global investment management organization with over $188 billion in assets under management (as of September 2023). The WSIB’s globally diversified portfolios are comprised of more than 17,500 holdings across 87 countries on 6 continents and in 49 currencies. The WSIB’s central mandate is to maximize return at a prudent level of risk.

The WSIB manages investments for 18 retirement plans for public employees, teachers, school employees, law enforcement officers, firefighters, and judges. We also manage investments for several other important public funds that benefit Washington’s industrial insurance program, colleges and universities, and developmental disability programs. The WSIB’s excellent investment performance dramatically contributes to the state’s bottom line by reducing the amount of state contributions needed to cover state pension benefits.

The WSIB operates in a hybrid work environment and this position should anticipate 60% of their time in the office. Initially, this position will be based in the Olympia office. Over the longer term, there may be an option to work from the Seattle office of the WSIB.

The WSIB is seeking a qualified candidate to join our team as an Assistant Investment Officer (AIO) on the Public Equity Team. This is a unique opportunity to join a globally recognized investment management organization. The primary objective of the AIO – Public Equity is to provide technical and analytical support to the unit while participating in the ongoing selection, due diligence, and monitoring of public equity investments, all while ensuring consistency with the State of Washington’s statutes and regulations, and the WSIB’s policies.

The WSIB’s public equity unit manages the investment of the public equity allocation of the defined benefit assets. The public equity unit also takes the lead overseeing the management of the investment options for the retirement funds using defined contribution investments including the state’s Deferred Compensation Plan (DCP). Public equity is further utilized in the Labor and Industries’ funds, the Guaranteed Education Tuition program, the Developmental Disability Endowment Fund, the Permanent Funds, and other programs as needed. At the current time, all of the WSIB’s public equity allocations are managed through external investment managers.

The AIO will be expected to work with the highest standard of professional and ethical conduct, and for the exclusive benefit of WSIB beneficiaries. The position will support and participate in all aspects of public equity investment management including rebalancing, searches, monitoring, research, analysis, development of recommendations, and risk management, with the goal of contributing to the public equity unit meeting or exceeding its investment return objectives.

 

Duties

We are looking for an agile and motivated individual with basic investment knowledge, unwavering integrity and a strong desire to learn and grow in a culture that values excellence and respect. We expect a blend of enthusiasm and humility. We are looking for someone who is adaptable and trustworthy; values teamwork and relationships with others; and values diversity, equity, and inclusion. We’re looking for someone with intellectual curiosity, a desire to learn, and someone who is perceptive and insightful. This position requires a self-starting, critical-thinking individual who embraces the opportunities and challenges associated with working for one of the world’s leading asset allocators.

If selected for this opportunity you will actively support and participate in the development, recommendation, implementation, and monitoring of investments in the Public Equity portfolio. Some of these duties include:

  • Execute trading or rebalancing activities as required.
  • Contribute to manager monitoring on relationships assigned by the Senior Investment Officer (SIO) and/or their supervisor.
  • Assist with research on a variety of topics relating to public equity markets, and public equity investments, allocations, and structures.
  • Coordinate with compliance on all issues involving public equity managers on matters related to guideline warnings or breaches, contract changes, and other items as necessary.
  • Assist the SIO and/or Institutional Relations team in responding to inquiries regarding the public equity programs.
  • Assist with the unit’s risk reporting and analysis.
  • Travel for varying events which include manager monitoring and conferences.

 

 

Qualifications

Competitive applicants will have:

  • Bachelor’s Degree (preferably in business, mathematics, economics, finance, statistics, or closely related field.)
  • Knowledge of capital markets and macroeconomics.
  • Intellectual curiosity.
  • Analytical, critical, original, and creative thought.
  • Integrity, honesty, and sound ethical judgment.

The strongest applicants will have:

  • A commitment to completing the CFA designation.
  • Demonstrated interest in investments.
  • Knowledge of investment concepts and principles.
  • Excellent written and verbal communication skills.
  • Ability to process and integrate large quantities of complex information.
  • Collaborative mindset and working methods.
  • Ability to plan, organize and complete multiple projects in a timely manner.
  • Strong computer skills including use of Microsoft Office, manager databases, risk systems.
  • Willing and able to travel.

 

 

Supplemental Information

In addition to a complete profile, please include: 

  • A cover letter specifying why the WSIB, and this position is of interest to you, an example from your life or work that demonstrates your ability to learn, and how you meet the qualifications listed above. This letter should be no more than two pages.
  • A current chronological resume.
  • A list of at least three professional references under the profile section. References will not be contacted without the written consent of the applicant but must be submitted at the time of application.

If your experience or qualifications look a little different from what we’ve identified and you think you can be successful in this position, please address this in your cover letter.

BACKGROUND CHECK:
Prior to a new hire, a background check including education verification, credit check, and criminal record history will be conducted. Information from the background check will not necessarily preclude employment but will be considered in determining applicant’s suitability and competence to perform in the position. 

AT THE WSIB…
You’ll experience true work-life balance and talented, passionate co-workers focused on maximizing the investment returns for the exclusive benefit of the beneficiaries. The WSIB is a respected institutional investor and thought leader in its industry and we value diverse perspectives and life experiences. The WSIB is supportive of an H1B Sponsorship.

The WSIB is an equal opportunity employer. Women, people of color and those representing diverse ethnicities, persons of disability, persons over 40 years of age, veterans, military spouses or people with military status, and people of all sexual orientations and gender identities are encouraged to apply.

 

Employees may be eligible for the following benefits:

 

An overview of benefits of state employment and WSIB specifically can also be found on our website (Download PDF reader).

 

The WSIB is committed to the full inclusion of all qualified individuals. As part of this commitment, the WSIB will ensure that persons with disabilities are provided reasonable accommodations. If reasonable accommodation is needed to participate in the job application or interview process, to perform essential job functions, and/or to receive other benefits and privileges of employment, please contact HR@sib.wa.gov.