Skip to main content

Type of Role: Investments

Experience Level: Analyst/Associate

Location: Concord, California

Salary: $157K - $191K

The Contra Costa County Employees’ Retirement Association (CCCERA) manages $10bn AUM and is a public employee retirement system established by the County of Contra Costa on July 1, 1945. The association is administered by the CCCERA Board of Retirement to provide service retirement, disability, death and survivor benefits for county employees and 15 other participating agencies under the California State Government Code.

Definition and Class Characteristics

 

Contra Costa County Employees’ Retirement Association (CCCERA) is currently recruiting a Senior Investment Analyst to join a small team that oversees a public pension plan portfolio of approximately $10 billon. This will be a generalist role but have a primary focus on Private Equity, which has a target allocation of 13%. He/she will work closely with the Senior Investment Officer in the implementation and monitoring of a direct private equity strategy. They will support due diligence efforts, assist in quantitative and qualitative analysis of new and existing managers, and conduct detailed performance and portfolio analysis. In collaboration with our Private Equity consultant, StepStone, CCCERA is focused on building a high-quality direct Private Equity program. In 2023, CCCERA is on pace to commit approximately $300 million to Private Equity.

Under general direction, provides analytical and technical support related to the retirement fund investments of CCCERA; researches and produces the work to support the underwriting of designated investment strategies, assists with the building out of CCCERA’s private equity investment program; and performs related duties as required.

SUPERVSION RECEIVED AND EXERCISED Receives general direction from the Senior Investment Officer. 

CLASS CHARACTERISTICS This is a journey-level classification for CCCERA and is expected to uphold the highest standards of integrity and professionalism, plan sponsor focus, and system efficiency. This position is distinguished from the Investment Analyst due to the advanced technical expertise, financial modeling and/or programming skills, and levels of complexity and independence assigned and demonstrated for incumbents in the Senior Investment Analyst classification.

 

Examples of Typical Job Functions

(Illustrative Only)
Management reserves the right to add, modify, change, or rescind the work assignments of different positions and to make reasonable accommodations so that qualified employees can perform the essential functions of the job. 

  • Assist in monitoring, analyzing and projecting cash flow to anticipate fund expenditure requirements and to maximize earning power of funds available for investment and ensure that the Board’s assets allocation plan is properly maintained.
  • Assist in preparing and evaluating reports on the various investments including private equity, limited partnerships and other non-traditional investments, prepare special analyses of underlying portfolio investments, and monitor performance relative to original expectations and regularly revise projections.
  • Assist with research and screening of various investment products and services and prepare reports, analysis and recommendations.
  • Assist in monitoring and ensure compliance of CCCERA’s external money managers with the Board’s investment policies and guidelines.
  • Assists in the formulation and implementation of investment strategy and tactics.
  • Maintain close liaison with outside investment advisors with respect to the systems investment program; study and make recommendations to the Senior Investment Officer on advice received from outside consultants; study and analyze financial trends.
  • Assists in the review, negotiation and administration of contracts for services.
  • Meet with banking, financial and investment organizations to discuss investments, financial markets, and economic trends.
  • Monitor the Board’s commission recapture program.
  • Assist with proxy voting and shareholder activities in compliance with the Board’s proxy voting guidelines.
  • Act as liaison to investment managers in monthly and quarterly reporting and monitor their compliance with Board established reporting deadlines and report formats.
  • Assist with coordination of securities litigation.
  • Maintain contract database and document status of agreements in process.
  • Performs related duties as required.

 

Qualifications

Knowledge of:

  • Laws, rules, regulations and professional standards regarding the investment of public pension funds.
  • Principles and practices of institutional investment management.
  • Modern portfolio theory and application.
  • Principles and practices of institutional securities transactions, real estate and other non-traditional investment areas.
  • Economic and market conditions and trends and their effect on short term and long term investment programs and strategies.
  • Principles and practices of research methods and report preparation.
  • Principles of finance, statistics and administrative analysis.
  • The research and interpretation of information for investment analysis.
  • Statistical and computer techniques/programs applicable to financial data in evaluating investments and fixed income portfolios.
  • The analysis and evaluation of financial instruments, strategies, and trends.
  • Assessing the accuracy and quality of written and oral materials.

Ability to:

  • Conduct advanced analysis utilizing Excel pivot tables or other data analytic programs such as Tableau.
  • Perform complex financial and investment research and formulate effective financial management strategies.
  • Identify potential investment opportunities suitable for the institutional portfolio
  • Prepare clear and concise technical reports.
  • Establish and maintain professional relationships with legal and investment professionals, consultants, CCCERA staff, and Board members.
  • Effectively work in situations that involve change and uncertainty.
  • Prepare and present persuasive oral presentations to investment staff and the Board as required, using spreadsheets and databases for analyses and presentation of information.
  • Operate modern office equipment including computers and specialized software applications relevant to work performed.
  • Use English effectively to communicate in person, over the telephone, and in writing.
  • Establish, maintain and foster positive and effective working relationships with those contacted in the course of work.
  • Demonstrate strict confidentiality, professionalism, integrity and compliance with applicable laws and regulations at all times.

Education and Experience:
Any combination of training and experience that would provide the required knowledge, skills, and abilities is qualifying.  A typical way to obtain the required qualifications would be:
 
Equivalent to graduation from a four year college or university with a major in accounting, economics, finance, public administration, business or a closely related field and five (5) years of full-time or its equivalent of increasingly responsible professional level experience in the financial service industry with direct experience in building financial models, deal teams, private equity fund underwriting, direct deal underwriting, investment banking, investment -focused programming language or other data analytics, and/or monitoring investments for a pension fund.

Special Requirement: Must be willing to work irregular hours as necessary. Travel of up to 25% is included in this position.

Experience with 1937 Act Retirement systems and/or pension administration systems is desirable, but not required.

Licenses and Certifications:
Chartered Financial Analyst designation, Chartered Alternative Investment Analyst, or Financial Risk Manager or equivalent are desired.

Physical Demands Must possess mobility to work in a standard office setting and use standard office equipment, including a computer; vision to read printed materials and a computer screen; and hearing and speech to communicate in person and over the telephone.  This is primarily a sedentary office classification although standing in work areas and walking between work areas may be required.  Finger dexterity is needed to access, enter, and retrieve data using a computer keyboard or calculator and to operate standard office equipment.   Positions in this classification occasionally bend, stoop, kneel, reach, push, and pull drawers open and closed to retrieve and file information.  Employees must possess the ability to lift, carry, push, and pull materials and objects up to 25 pounds with the use of proper equipment.

Environmental Elements Employees work in an office environment with moderate noise levels, controlled temperature conditions, and no direct exposure to hazardous physical substances.  Employees may interact with upset staff and/or public and private representatives in interpreting and enforcing organizational policies and procedures.

 

Additional Information

Applicants will be reviewed when they are submitted.

This position has 5 steps in the salary range. CCCERA generally starts new hires at step 1, or step 2 based on qualifications. The salary increase from step 1  to step 2 is assessed at 6 months and annually thereafter.

After an initial training period, CCCERA allows employees to request to work remotely up to 2 days per week. Everyone is required to work in the office on Tuesdays.