Senior Investment Officer, LACERA (Private Equity)

LACERA
United States, California, Pasadena
Nov 10, 2024
POSITION INFORMATION THIS IS NOT A CIVIL SERVICE EXAMINATION *This announcement is a Call for Resumes* for the position of Senior Investment Officer, LACERA - Private Equity. This call for resumes can be officially suspended at any time. First review deadline is 5:00 p.m., December 6, 2024. Resumes submitted after the first review date will be considered on an as needed basis. Annual Salary: $249,279.96 - $377,304.48 The Los Angeles County Employees Retirement Association (LACERA) administers and manages the $80 billion retirement fund for the County of Los Angeles. We provide retirement, disability, and death benefits to eligible County Employees and their Beneficiaries, and collect, deposit, invest, and manage retirement funds collected from the County, Outside Districts, and County Employees. LACERA is one of the largest county retirement associations in the United States with over 184,000 Members. Our Membership is comprised of individuals from a diverse range of careers, age groups, and ethnicities - all contributing to the greater welfare of Los Angeles County. LACERA offers a comprehensive benefits package that includes medical and dental coverage, 401k Plan, 457 Plan, defined benefits pension plan, retirement healthcare benefits, tuition reimbursement program, paid holidays, and annual leave. ABOUT THE POSITION: The Senior Investment Officer position supervises the overall management of one of Los Angeles County Employees Retirement Association's (LACERA) primary asset classes or cross-asset category initiatives such as risk management, asset allocation, performance reporting, and/or corporate governance and stewardship, and provides direction to staff who assist in the management of these categories. This position is responsible for providing administrative and technical supervision to Financial Analysts, LACERA staff in the planning and monitoring of a primary asset class. Under the direction of a Principal Investment Officer, LACERA, this position is responsible for all aspects of pension fund investment management including investment program structure, implementation, and monitoring. Responsibilities include developing and recommending investment structure and policy and implementing Board approved plans and providing advice and counsel to LACERA's Board of Investments and LACERA management. The Investments Division at LACERA encompasses a diverse array of asset classes, including Public Equities, Private Equity, Real Assets (Infrastructure and Natural Resources), Real Estate, Fixed Income, Hedge Funds, Credit, Direct Investments (Private Markets), Portfolio Analytics (Risk Management), and Corporate Governance Stewardship (Environmental, Social, and Governance). IDEAL CANDIDATE: The Ideal Candidate will satisfy the position's requirements (as stated in the Requirements Section of the bulletin) and possess the desirable qualifications listed below. Experience: Developing an investment strategy in private equity. Assessing and managing a portfolio's risk. Balancing risk and returns of an investment portfolio in private equity including buyout funds, growth equity funds, co-investments, and secondaries. Managing a substantial portfolio of private equity funds and co-investments. Monitoring and evaluating the performance of portfolio holdings ensuring adherence to sub-asset allocation ranges and preparing regular reports on the portfolio. Working with external managers and consultants to implement a strategy using funds and co-investment structures. Providing strategic insights and recommendations on portfolio adjustments and recommended implementation changes including a periodic structure review process. Recommending and evaluating proposed investments through a formal internal review process. Managing and mentoring an investment team. EXAMPLES OF ESSENTIAL JOB FUNCTIONS The following examples are intended to describe the general nature and level of work performed by persons assigned to the Senior Investment Officer, LACERA classification. Depending on the assignment, duties may include but not limited to the following: Supervises the development and implementation of an investment management strategy in accordance with the goals and guidelines established by the Board of Investments. Develops and recommends to the Board of Investments policies, portfolio investment structures, and strategies for designated asset classes. Designs, develops, and implements policies, procedures and guidelines to manage the portfolio consistent with the investment strategies adopted by the Board of Investments. Prepares and presents written reports to the Board of Investments concerning problem managers and quarterly performance measurement reports. Monitors outside investment managers to ensure performance and portfolio strategies adhere to investment mandates and contractual compliance. Conducts investment manager searches for the Board of Investments including evaluating Request for Proposals, conducting manager interviews, analyzing portfolio performance and investment management style, and on-site visits. Coordinates the work of and acts as a liaison for consultants with LACERA management and the Board of Investments. Supervises the analysis, evaluation, and recommendation of new investment vehicles and trading practices to LACERA management and the Board of Investments. Provides consultation and advice to the Principal Investment Officer, Chief Investment Officer and Board of Investment members on pension management matters. REQUIREMENTS A Bachelor's degree from an accredited college or university in Finance, Economics, Business Administration, or a related field -AND- Five (5) years' responsible investment management experience including responsibility for continuous supervision and review of an extensive investment program involving the purchase and sale of securities, real estate, or other investment vehicles for a large financial institution or governmental agency. A Master's degree in Business Administration, Finance, or a related subject, may be substituted for one (1) year of the required experience. An additional two (2) years of the required experience may be substituted for the Bachelor's degree -OR- Three (3) years' experience as a Finance Analyst III, LACERA. LICENSE: A valid California Class C Driver License or the ability to utilize an alternative method of transportation when needed to carry out job-related essential functions. ADDITIONAL INFORMATION How to Submit Your Interest... If you wish to be considered for this position, please submit your resume along with a letter of interest detailing your experience in the following areas: Knowledge of private equity markets, strategies, and fund structures. Overseeing asset allocation and sector exposures and developing risk management strategies. Understanding and analyzing private equity financial models. Familiarity with Company and fund valuation methodologies. Monitoring and evaluating performance of portfolio holdings. Conducting investment due diligence on private equity funds. Providing strategic insights and recommendations on portfolio adjustments and implementation changes. Preparing regular portfolio reports and presenting findings and recommendations to senior investment staff and board of investments. Managing and mentoring an investment team. Resume and cover letter MUST be attached during the submission of your online application. Faxed, emailed, or hard copy resumes, and cover letters will not be accepted. Application submissions without a resume AND cover letter may be disqualified from further consideration. To submit your interest online, go to governmentjobs.com or click directly here. Please contact Lucy Alvarez-Nunez, Senior Human Resources Analyst at lalvarez-nunez@lacera.com for any questions. LACERA is an Equal Opportunity Employer This is not a Civil Service Examination**