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Type of Role: Investments

Experience Level: VP/Principal/Director

Location: San Francisco, California

Salary: $184K - $235K

The San Francisco Employees’ Retirement System is dedicated to securing, protecting, and prudently investing the pension trust assets, administering mandated benefits programs, and providing promised benefits to the active and retired members of the City and County of San Francisco. $35bn AUM. Details below.

Role description

What We’re Looking For

SFERS seeks an experienced investment professional for the position of Senior Portfolio Manager (“SPM”) for its Private Credit portfolio. Reporting to the Director of Private Credit, the SPM will support the broader Private Credit team’s oversight and management of a complex and growing Private Credit portfolio. The SPM will be involved in all investment activities associated with SFERS’ Private Credit portfolio including, but not limited to the following:

  • Researching and selecting external investment managers.
  • Monitoring external investment managers.
  • Collaborating with SFERS’ Private Credit consultant to determine strategies for external manager searches.
  • Developing and presenting manager hiring recommendations (and termination recommendations, when necessary) to the internal Portfolio Management Group (PMG) and the Retirement Board.
  • Monitoring portfolio risk and return on a regular basis to evaluate deviations from objectives in order to recommend strategy modifications.
  • Preparing and presenting written reports recommending strategies, evaluating performance, and addressing other important issues to the Private Credit Program.

How to qualify

Minimum Qualifications

Possession of a baccalaureate degree from an accredited college or university with major coursework in finance, economics, business administration, accounting, statistics, or related field; AND

Six years of investment experience with an investment management firm, pension plan, university, endowment, foundation, corporation, family office, or consulting firm.

Substitution

  • Possession of a graduate degree in Business Administration, Finance, Statistics, Investment Management, Economics or similar field, or possession of the Chartered Financial Analyst (CFA) or Chartered Asset Allocator (CAA) designation, may be substituted for an undergraduate degree in a different field than described above.
  • Three years of investment management experience at the Senior Portfolio Manager level or higher with an investment management firm, pension plan, university, endowment, foundation, corporation, family office, consulting firm or other investment institution with at least $1 billion in assets, or seven years of such responsibility with a firm of any size, may substituted for an undergraduate degree in a different field than described above.

How to Stand Out

Desirable Qualifications:

  • Broad and extensive Private Credit experience in, but not limited to, direct lending, structured finance/asset-based lending, mezzanine, credit opportunities, distressed, real estate and real-assets-related credit.
  • Meaningful active relationships with Private Credit managers.
  • Experience and skill in understanding, evaluating, and underwriting complex Private Credit strategies and concepts, as well as global Private Credit trends and developments.
  • Experience in reviewing, evaluating, and negotiating complex partnership and contractual agreements.
  • Ability to work independently as well as in a collaborative, team-oriented environment.
  • Ability to help supervise and train junior members of the team.
  • Excellent written, oral, and interpersonal communication skills
  • A fast and eager learner with a strong attention to detail and an ability to prioritize effectively.
  • Proven ability to build networks and positive working relationships with key internal and external contacts and represent SFERS well at general partner and advisory meetings as well as conferences.
  • Excellent judgment, integrity, and personal values.
  • Willingness to travel globally up to 20-25% of time.
  • Demonstrated strong proficiency with Microsoft Excel.
  • Possession of a master’s degree in Business Administration, Finance, or Economics and/or a Chartered Financial Analyst (CFA) designation.

The stated desirable qualifications may be used to identify job finalists at the end of the selection process when candidates are referred for hiring.

Verification

Applicants may be required to submit verification of qualifying education and experience at any point during the recruitment and selection process. If education verification is required, information on how to verify education requirements, including verifying foreign education credits or degree equivalency, can be found at https://sfdhr.org/how-verify-education-requirements.

Note: Falsifying one’s education, training, or work experience or attempted deception on the application may result in disqualification for this and future job opportunities with the City and County of San Francisco.

All work experience, education, training, and other information substantiating how you meet the minimum qualifications must be included on your application by the filing deadline. Information submitted after the filing deadline will not be considered in determining whether you meet the minimum qualifications.

Resumes will not be accepted in lieu of a completed City and County of San Francisco application.

Applications completed improperly may be cause for ineligibility, disqualification, or may lead to lower scores.

SELECTION PROCEDURES

Applications will be screened for relevant qualifying experience. Additional screening mechanisms may be implemented in order to determine candidates’ qualifications. Only those applicants who most closely meet the needs to the Agency will be invited to participate in the selection process. Applicants meeting the minimum qualifications are not guaranteed advancement in the selection process.

What else should I know?

HOW TO APPLY

All applicants must submit a resume and completed job application (all sections, including Experience and Education, must be completed) in order to be considered. Resumes will not be taken as a substitute for completing the application.

Applications for City and County of San Francisco jobs are only accepted through an online process.