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Type of Role: Investments

Experience Level: Managing Director/CIO

Location: Raleigh, North Carolina

Salary: $140K - $170K

The Department of the State Treasurer (DST) oversees $150 billion in assets and serves the people of North Carolina through a variety of functions including, managing the 26th largest pool of public money in the world, administrating health care for over 700,000 active and retired state employees, and maintaining the N.C. Total Retirement Plans for over 900,000 current and former state employees and their beneficiaries. The majority of the assets managed by the Investment Management Division belong to the various pension funds administered by the State Treasurer. Collectively, these systems and funds are referred to as the North Carolina Retirement System.

The Role

The Co-Portfolio Manager/Co-Trader assists in the oversight of the Public Equity’s internally managed and externally managed portfolios and sub-portfolios (US Equity and Non-US Equity) and provides continuous evaluation and management of risk associated with these investments. It also analyzes potential investment opportunities, interacts regularly with external investment managers, and works closely with the Investment Analyst. These responsibilities require a working knowledge of the investment industry, the trade lifecycle, the ability to apply the principles of modern portfolio theory, and utilize statistical methods to track and monitor performance within acceptable risk parameters.

Why bring your expertise to DST?

  • This is a rewarding opportunity to provide professional institutional investment management services to support state workers, taxpayers, and their families.
  • When you become a part of DST, you are working for an employer whose core values include fiduciary duty, integrity, ability, passion, and transparency.
  • The State of NC offers a wide variety of competitive and family-friendly benefits, including health insurance, paid vacation, paid sick time, paid holidays, as well as retirement.  Learn more about our benefits here.

Key Duties & Responsibilities

  • Perform daily trade management of the Plan’s internally managed passive equity strategies which involves oversight of front, middle, and back office operational support
  • Monitor the internal and external equity portfolios for compliance with established guidelines and policies and provide recommendations for changes or enhancements to improve investment objectives.
  • Assist the Lead Portfolio Manager with order generation and execution and serve as primary backup.
  • Perform index and portfolio exposure monitoring. Perform corporate actions.
  • Manage a pipeline of prospective investment managers and identify new strategic and/or tactical investment opportunities.
  • Lead the due diligence process for current and prospective domestic external investment relationships and serve as backup for non-US relationships.
  • Efficient utilization of broker-dealers and sell-side research and data providers.
  • Liaise with external vendors, including custodians and outsourced middle/back-office providers responsible for servicing all aspects of internal trade functionality.
  • Actively participate in the negotiation of complex legal documents, preferred terms, and management fees that govern all public equity investments.
  • Perform asset allocation and portfolio modeling of public and applicable alternative strategies.
  • Measure and manage active risk across public equity market portfolios.
  • Assist in generating ad hoc reports and the creation of investment recommendation memorandums.
  • Present as part of the Public Equity Team an annual update to the Investment Advisory Committee.
***Position may at times require travel but not to exceed 30%***

 

Knowledge, Skills and Abilities / Competencies

We’re looking for someone who is versatile, confident, and highly analytical for this role. Competitive candidates will have a proven track record that includes the following:

  • Advanced experience with trade lifecycle, trading within equity markets and overall trade management
  • Demonstrated ability to apply modern portfolio theory Ability to compile, monitor, examine, and audit various financial and performance-related data
  • Utilization of statistical methods to track and monitor performance within acceptable risk parameters
  • Strong oral and written communication skills (i.e., oral presentations and composing reports, letters, and memos)
  • Ability to work independently and with groups, think critically, ask questions, and provide solutions is essential
  • Proven ability to recognize and research unusual activity for further investigation
  • Possess advanced analytical and financial modeling skills as well as experience analyzing risk and return factors
  • Experience in contract and fee negotiations

Preferred Qualifications

  • Considerable experience with internal management of passive and/or active equities and cash management within a public or corporate pension plan, foundation, or endowment (front, middle, and/, or back office)
  • Direct investment and operational due diligence experience with successful selection, evaluation, and managing of a portfolio of external investment managers within a public or corporate pension plan, foundation and/or endowment

 

 

Minimum Education and Experience Requirements

Some state job postings say you can qualify by an “equivalent combination of education and experience.” If that language appears below, then you may qualify through EITHER years of education OR years of directly related experience, OR a combination of both. See oshr.nc.gov/experience-guide for details.

Bachelor’s degree with coursework in accounting, business, economics, finance, investment, statistics, or related coursework and at least a 5-year track record of successful experience in trading and portfolio management involving selecting, evaluating, and managing a portfolio of internal and external investment strategies/managers within a public or corporate pension plan, foundation and/or endowment; OR Three-year track record and MBA or CFA or equivalent combination of training and experience. All degrees must be received from appropriately accredited institutions.

Supplemental and Contact Information

About the Department
The North Carolina Department of State Treasurer (DST) serves the people of North Carolina through a variety of functions related to the financial health of the state and its citizens.

Our mission is to preserve, protect, and sustain the state’s pension and healthcare plans, reduce investment fees while maximizing returns, and properly account for and report on all funds that are deposited, invested, and disbursed through the North Carolina Department of State Treasurer, assure the financially sound issuance of debt for state and local governments, maintain the state’s “AAA” bond rating, and provide exemplary service across all divisions of the Department.

The Investment Management Division (IMD) serves as the investment arm for the Department of State Treasurer.  We are responsible for the management of the Short-Term Investment Fund (STIF), the Pension Fund Investment Program, and the Ancillary Investment Programs.  Learn more about us here.

Live, Work & Play in the Triangle
When you live, work, and play in the Triangle you can choose the lifestyle you’ve always wanted! The Triangle is a vibrant, eclectic mix of an estimated 2M people from all over the U.S. and the world. We are one of the most racially and internationally diverse areas of the country.  Raleigh, Wake County, and the Triangle area frequently top national and international rankings from publications that include Money, Forbes, and Bloomberg.

Midway between New York City and Miami, with getaway destinations like Washington DC, and Charleston, SC only a four-hour road trip away, the Triangle feels like it’s in the middle of it all! Raleigh-Durham International Airport (RDU) is ranked as one of the best mid/large-sized airports and has ten major airlines with 400+ daily flights. We’re also located right on I-40 which runs straight through the country to California and close to I-95, which runs north-south on the East Coast.

Running on a greenway, visiting a museum, or exploring a heritage site – there are so many ways for singles and families alike to fill their time. Experience our booming food and drink scene in Raleigh’s Glenwood South, Chapel Hill’s Franklin Street, or Downtown Durham. Commune with nature at Eno River or Falls Lake.  With over 10,000 acres of parkland and 180+ miles of greenway trails, easy access to nature is definitely one of our best features.

Contact Information

You may submit your application here. General inquiries and resumes can be sent directly to DST HR Consultant: Shannon Boatwright at shannon.boatwright@nctreasurer.com or 919-814-3828. Review of applications will begin immediately and will continue until the position is filled.

The State of North Carolina, and the Department of State Treasurer, is an Equal Opportunity Employer