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Director, Senior Portfolio Manager
ICMA-RC
Washington, DC, United States
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Description
ICMA Retirement Corporation (“ICMA-RC”) is a not-for-profit corporation founded in 1972 by public sector employers and supported by a Ford Foundation grant. The Firm’s initial mission was to provide portable retirement benefits for city and county managers, enabling accumulated retirement assets to be transferred between employers. Today, ICMA RC prides itself on being a leading provider of retirement plan administration and investment management services for public sector employees with $55 billion in assets under administration and $29 billion in assets under management, serving approximately 9,300 plan sponsors and over a million participant accounts.
The Investment Division at ICMA-RC employs over 30 talented investment professionals from diverse backgrounds. Since its founding, ICMA-RC has developed a broad array of investment products and solutions across equity, fixed income and stable value strategies under the Vantagepoint brand.
ICMA-RC is seeking an experienced investment professional to join this vibrant and entrepreneurial investment team in the position of Senior Portfolio Manager, Alternative Investments. Reporting directly to the Managing Director and Head of Alternative Investments, the Senior Portfolio Manager will help source, underwrite and oversee investments in private equity, private real estate, private credits, hedge funds and other non-traditional asset classes (“Alternatives”). The Senior Portfolio Manager will be part of the founding team for ICMA-RC’s Alternatives platform. He / she will have the opportunity to help design and construct a global portfolio of alternative investments through sourcing, underwriting and active management of best in-class investment partnerships.
The Senior Portfolio Manager will also have the opportunity to help shape the investment strategy and grow the Alternatives platform. In addition, the Senior Portfolio Manager will have great exposure to public markets and may need to collaborate closely with the Public Equities and Asset Allocation teams in his / her day to day activities. We have an extraordinary talent base and invite you to consider joining ICMA-RC's Investment Team.
Essential functions for this role include:
• Research, source and conduct due diligence on external investment managers to help construct an Alternatives investment portfolio in accordance with the funds’ investment guidelines and risk-adjusted return objectives.
• Evaluate investment opportunities, including meeting with investment managers to assess their qualifications and track records, conducting reference checks, and identifying any significant issues to be addressed during the course of due diligence.
• Prepare and present investment recommendations to the Managing Director, CIO for review and approval.
• Review, evaluate and negotiate key partnership terms and legal agreements.
• Monitor existing portfolio, including frequent interactions with investment managers, review of quarterly reports, as well as attending annual meetings. Prepare quarterly performance reporting package.
• Cultivate, maintain and strengthen the group's networks and relationships with institutional managers and institutional investors in the Alternatives space
• Conduct comprehensive annual review of the existing investment portfolio and provide recommendations for improvement/optimization.
• Work closely with the Managing Director to review and provide recommendations for the Alternatives strategy, including the review of appropriate asset class goals and objectives, asset allocation, cash flow forecasting, as well as long-term growth strategies.
Requirements
If you have the following credentials, we encourage you to apply:
The ideal candidate should have at least seven years of experience investing in private markets preferably across various strategies. General qualifications are listed below:
• Advanced degree in finance, business or economics; CFA is preferred.
• The candidate must have at least seven years of investment management related experience in one or more areas within the private markets.
• Experience and skill in understanding and evaluating sophisticated investment strategies and concepts, a plus.
• A meaningful network of relationships among institutional managers and investors.
• Proactive in searching for new investment ideas/managers.
• Experience in quantitative and qualitative analysis and/or management of external managers.
• Experience in reviewing, evaluating and negotiating complex partnership and contractual agreements.
• Ability to work independently as well as in a collaborative, team-oriented environment.
• Excellent written, oral and interpersonal communication skills
• Strong attention to detail and time management skills
• Sound business judgment and confidence of convictions as they relate to investment decisions.
• Strong computer skills (Excel, PowerPoint, Word, especially).
• Highest ethical standards.
• Willingness to travel is required
For your well-being, we offer a solid compensation and benefits package that features a competitive salary, a straight-forward incentive plan that rewards results, and a 401(k) Plan. For your career, we offer tuition reimbursement, professional development courses, seminars, career enrichment assignments, mentoring programs and a record of enterprise growth that creates continuing opportunities for career advancement. Consider ICMA-RC, and respond in strictest confidence. ICMA-RC is an Equal Opportunity Employer that values diversity in the workplace. Minorities and women are encouraged to apply. We look forward to hearing from you.