The CalSTRS Investments Branch is seeking an experienced individual to work as an Associate Portfolio Manager in the Risk Mitigating Strategies unit.
The Risk Mitigating Strategies (RMS) asset class became a part of the total plan asset allocation in 2016. RMS seeks to construct a portfolio of positively returning strategies that provide protection to the total plan during deep and extended equity market downturns. RMS currently includes allocations to trend following, long-duration U.S. Treasuries, global macro and systematic risk premia.
Under the general direction of the Director of Risk Mitigating Strategies (RMS), the Associate Portfolio Manager is responsible for participating in the day-to-day management and implementation of existing and new investment strategies for the RMS portfolio, including the research, development and refinement of RMS strategies. This position is responsible for performing complex duties requiring an extremely high degree of independence and discretionary judgment.
Responsibilities of the Associate Portfolio Manager include:
Participating in the management and implementation of existing and new investment strategies for the RMS portfolio, including the research, development and refinement of RMS strategies.
Providing independent analysis and consultation and recommend the optimal allocation of capital across the RMS portfolio strategies and investment styles to build a diversified RMS portfolio to capture different sources of risk premium and provide insurance against equity market drawdowns.
Monitoring and evaluating risk and return of the portfolio, strategy and underlying managers to see if they are advancing towards the RMS goals.
Planning, developing and directing subordinate staff in the management of the strategies.
Reviewing and monitoring risks within the RMS portfolio including, but not limited to, leverage, liquidity, drawdown and counterparty.
This position is eligible for incentive compensation and has a maximum incentive opportunity of 50% of base salary.
An Associate Portfolio Manager who possesses a professional certification in one of the following designations: Chartered Financial Analyst (CFA), Certified Commercial Investment Member (CCIM), Financial Risk Manager (FRM), Certified Investment Management Analyst (CIMA) or Chartered Alternative Investment Analysts (CAIA) may receive a 5% monthly base pay differential. Only one 5% base pay differential is eligible regardless of the number of certifications.
This position may require occasional overnight in state/out of state travel.
The California State Teachers' Retirement System (CalSTRS) is the largest educator-only pension fund in the world. CalSTRS proudly provides retirement, disability and survivor benefits to California’s 964,000 public school educators and their families.
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