Posting will close by July 21, 2024, or when 75 applications are received.
Position Summary
The TRS Investment Officer 1 (Fixed Income) is responsible for participating in the management and monitoring of the System’s corporate long-term bond portfolio by performing sector and individual issuer research, assisting in developing independent and informed investment relative value recommendations, and developing the ability to execute corporate bond trades. In addition, the role requires being cross-functional with respect to participating in the monitoring, due diligence, and relationship management of external fixed income managers and occasional currency trading.
Minimum Qualifications
Traineeship Enter at the Grade 14
A bachelor’s degree or higher in Accounting, Business Administration, Economics, Finance, Mathematics, Statistics, Engineering, or in a closely related field; and one year of professional investment experience.
Qualifying experience includes:
Investment-related duties reflecting a fundamental knowledge of the financial markets and an understanding of the economic forces that impact the financial markets, or analysis of financial or economic data; investment risk or portfolio management; investment operations; investment compliance, investment auditing, investment accounting, and quantitative analysis.
Grade 18
A bachelor’s degree or higher in Accounting, Business Administration, Economics, Finance, Mathematics, Statistics, Engineering or in a closely related field, and two years of professional investment experience.
Qualifying experience includes:
Investment-related duties reflecting a fundamental knowledge of the financial markets and an understanding of the economic forces that impact the financial markets, or analysis of financial or economic data; investment risk or portfolio management; investment operations; investment compliance, investment auditing, investment accounting, and quantitative analysis.
Substitutions: Successful completion of all three levels of the CFA exam may substitute for two years of experience; a Chartered Alternative Investment Analyst (CAIA) designation, a Certified Commercial Investment Member (CCIM), a Member of the Appraisal Institute (MAI), or a Certified Public Accountant (CPA) may substitute for one year of experience; and a master’s degree in Business Administration concentrating in Finance or a closely related concentration may substitute for two years of experience.
Preferred Qualifications
- 1 year experience in fixed income portfolio management or similar role in investment management, current CFA candidate, and/or willing to pursue the CFA designation.
- Exposure to corporate bond markets or other fixed income sectors, such as but not limited to money markets, agency, treasuries, and ABS.
- Familiarity with due diligence on external fixed income managers.
- Understanding of foreign exchange trading.
- Familiarity with macroeconomic events that impact fixed income investment decisions.
- High degree of professionalism and integrity.
- Excellent analytic, quantitative, and desktop software computing skills desired.
- Ability to be team-oriented and develop interpersonal skills.
Job Duties
Under the general direction of management and/or senior staff, the duties of the TRS Investment Officer 1 include, but are not limited to, the following:
- Assisting in development, modification, and implementation of NYSTRS’ strategy with respect to corporate bonds.
- Actively identifying and monitoring risk in assigned NYSTRS’ fixed income portfolios; primarily sectors & issuers in corporate bonds.
- Preparation, reviewing, and/or managing fixed income periodic reports (e.g. monthly/quarterly) for use by NYSTRS Board, Investment Advisory Committee, NYSTRS annual financial report, cross-departmental projects, and/or NYSTRS management.
- Performing and/or reviewing analyses conducted by staff of fixed income securities in various sub-sectors held in the portfolios and/or contemplated to be purchased or sold.
- Executing foreign exchange purchases and sales.
- Progress towards the ability to execute primary and secondary bond purchases and/or sales utilizing electronic bond trading platforms (e.g. MarketAxess, Bloomberg) initially under the direction of supervisors to work towards implementing fixed income strategy.
- Create reports and review data output generated by bond portfolio analytic packages (BlackRock Aladdin) to facilitate the analysis of NYSTRS’ corporate long-term bond portfolio and assist in making investment decisions based upon the analysis.
- Participating in the oversight and monitoring of external fixed income managers (e.g. securities lending; high yield; global bonds), including performance review and guideline compliance.
- As needed, leverage third party fixed income quantitative analytical software to perform recurring and requested performance attribution, portfolio risk analytics, and conducting analyses to facilitate the portfolio and risk management on NYSTRS’ fixed income assets.
- Presenting to NYSTRS Board; Internal Investment Committee; Investment Advisory Committee and staff as needed.
Salary Grade
This position is a Grade 14, 16, 18.
Salary Range
Salary Grade 14 - $59,453 to $77,573
Salary Grade 16 - $66,446 to $86,697
Salary Grade 18 - $74,153 to $96,753
EEO STATEMENT
At NYSTRS, diversity, equity, and inclusion are integral to our mission of providing our members with a secure pension and exceptional customer service. We are committed to fostering an inclusive and equitable culture where all diversity is valued and recognized as a source of strength and enrichment across all operations.
NYSTRS is proud to provide equal opportunities to all employees and qualified applicants without regard to race, color, religion, creed, sex, gender expression or identity, national origin, age, ability and disability status, veteran status, marital status, pregnancy status, sexual orientation, citizenship, or any other legally protected class.
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