Skip to main content

Type of Role: Investments

Experience Level: Analyst/Associate

Location: Austin, Texas

Salary: $96K - $142K

The Employees Retirement System of Texas (ERS) manages benefits for employees and retirees of State of Texas agencies and some higher education institutions. These benefits contribute to the financial security and overall well-being of employees, retirees and their families. They are an important part of the compensation package of state agency and institution employees.

Description

 The Private Real Estate Team of the Investments division is seeking an experienced Investment Analyst to assist the Directors and Portfolio Managers will all reporting, tracking, performance measurement, and reconciliation related to the operations of Private Real Estate.  The Private Markets Analyst will assist in the sourcing, underwriting, and monitoring of investments in Global Private Real Estate portfolio. Macroeconomics, capital market and other analysis may be required from time to time. Maintain a high level of knowledge in global real estate market with respect to geographic regions, property sectors and managers inside and outside of United States.

Essential Functions includes, but is not limited to:

•    Assists with sourcing and analysis of private real estate closed-end and/or open-end funds and investment strategies that achieve long-term portfolio characteristics and returns within acceptable risk parameters.
•    Monitors and maintains existing investments and relationships with fund managers and assists in tracking cash flows, performance, and portfolio attributes as well as maintaining internal databases.
•    Upload and maintain all fund and holdings (property) level data, benchmarking data, foreign exchange rates, etc. in private markets tracking system.
•    Design, prepare, and maintain standard reporting capabilities of private markets tracking system.
•    Produce standard tracking spreadsheets and charts, including ad-hoc reports for Private Markets.
•    Reconcile fund flows and performance with custodian and consultants.
•    Reconcile management fees, partnership expenses, and fee offsets with LPAs.
•    Assists Director of Private Real Estate in execution of annual tactical plan, adherence to the Real Estate Policies and Procedures, and management of real estate consultant.
•    Assists Director of Private Real Estate with Limited Partner and Advisory Board responsibilities as needed
•    Coordinates and supports the activities of legal and operations to ensure execution of investment transactions, capital calls, and distributions.
•    Coordinates with the Director of Private Real Estate and/or Real Estate Consultant to conduct due diligence and analysis on investment decisions in areas such as: General Partner background and history, portfolio performance vs. benchmarks, portfolio performance relative to risk taken, management team size, structure and experience, attribution analysis, investment strategy, deal flow and exit strategies, reference calls with CEOs, co-investors, lenders, LPs, competitors and support professionals.
•    Travels domestically and internationally for due-diligence visits, industry conferences, GP Annual Meetings and other functions to develop the knowledge, resources and contacts necessary for quality research and appropriate investment opportunities.
•    Follows general economic, regulatory and political developments as well as real estate equity and debt markets globally
•    Assists with communication of strategy and investment recommendations through written and/or oral reports and presentations as requested by the Managing Director of Real Assets, Director of Private Real Estate, CIO, Executive Director, Investment Committee, or Board of Trustees.
•    Maintains a good working relationship with other investment staff and ERS employees.
•    Maintains a professional relationship with vendors, GPs and other LPs.
•    Complies with the ethical standards and personal investment disclosure requirements set forth in the IPS and the Standards of Conduct for the Investments Division as set forth in the IIP.
•    Complies with all applicable agency policies and procedures including attendance, leave, and safety policies.
•    As needed, may support the public real estate portfolio by maintaining existing or creating new spreadsheets, charts, and other reports to support the analysis of the public real estate portfolio or underlying securities utilizing Bloomberg, FactSet, Green Street or other data providers.

For Investment Analyst III and IV, you will perform the above duties in a highly advanced and complex manner with greater responsibility and standards. May also be responsible for highly visible and/or larger portfolio sectors as part of the Trust.

 

Other Information:  ERS operates in a hybrid work environment, with flexible work schedules available to all employees.  This is not a remote only position.  Domestic and international travel may be required. This position may require access to privileged, confidential, or sensitive data.  ERS will conduct either a TXDPS or FBI criminal history check on all new hires.  For more information about this policy inquiries can be made to employment@ers.texas.gov.

Military Occupational Specialty Codes:
There are no equivalent Military Occupational Specialty codes associated with this position.  Please contact Human Resources at employment@ers.texas.gov  with questions or for additional information.

How to Apply:  Ready to join the dedicated, customer-focused team at ERS?  Submit the following to the ERS Human Resources Office by 5 P.M. on the closing date:

•    A State of Texas Application for Employment submitted online through CAPPS Recruit.

o    Use the link below to create a CAPPS Recruit account and build your profile on the “My JobPage” tab in the upper left corner of the screen.
https://capps.taleo.net/careersection/327/jobsearch.ftl?lang=en
o    Once your profile is complete, click on the “Job Search” tab in the upper left corner of the screen to view available career opportunities and submit your application.

  • Note:  Resumes will be accepted only as supplements to a State of Texas Application for Employment.

•    One page essay as described in the Special Requirement section above.
o    Essay may be submitted by uploading the document to your application in CAPPS Recruit or
o    May be emailed to employment@ers.texas.gov

Applications submitted through Work in Texas:
If you apply for an ERS position via Work in Texas https://www.workintexas.com/vosnet/Default.aspx, you will also need to complete a supplemental questions form. For more details, refer to the instructions in the email you receive from CAPPS Recruit.
Additionally, you will still need to email your essay response to employment@ers.texas.gov to complete your application.
Please contact a Human Resources representative if you need assistance or require accommodation during the application process.

Email:        Employment@ers.texas.gov                 Web:  www.ers.texas.gov
Relay Texas TDD: (800) 735-2989
LinkedIn:  https://www.linkedin.com/company/employees-retirement-system-of-texas/

 

Qualifications

 Required Minimum Qualifications:  Your application for employment must reflect how you meet each of the following minimum qualifications:

1)    Graduation from an accredited college or university with a minimum 24 semester hour’s credit in finance, economics, accounting and/or management or a combination of the four. (Each year of related experience over the required minimum may be substituted for 12 semester hours of the specific course requirement).
2)    Two (2) – four (4) years (depending on classification) of full-time professional financial management, investment or investment operations experience.

Preferred Qualifications:  Your application for employment should reflect how you meet the following preferred qualifications:

3)    Experience in financial institutions or as an alternative asset manager.
4)    Undergraduate degree major in business, finance, economics or accounting.
5)    Chartered Financial Analyst (CFA) designation or current participation in CFA program or certification as a Chartered Alternative Investment Analyst (CAIA).

Special Requirement:  Submit your response to the essay question below.  Please limit your response to one page.

Please help us understand how your previous work or life experience can help you be successful in this Private Markets role – and give us what you think are the most important considerations for constructing a successful Private Markets/Real Estate portfolio today?

PLEASE NOTE: All applications must contain complete job histories, which includes job title, dates of employment, name of employer, supervisor’s name and phone number and a description of duties performed. If this information is not submitted, your application may be rejected because it is incomplete. Resumes do not take the place of this required information.