Who we are looking for
Global Credit Finance (GCF) is the lending division of State Street. Our mandate is to …
- The Los Angeles County Employees Retirement Association (LACERA) administers and manages the $75 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 the largest county retirement association 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.
Headquartered in the beautiful City of Pasadena, home of the Tournament of Roses Parade and Annual Rose Bowl Football Game, the City has a little something for everyone; historic museums, five-star restaurants and hotels, top retailers, theaters, art, science, dance, nature, music, and a whole lot more!
Benefits include health insurance, annual leave, sick leave, retirement, paid holidays, and a ride share program.
LACERA Values: We work together toward achieving our Mission through our shared Values.
Our Values include Professionalism, Respect, Open Communication, Fairness, Integrity, and Teamwork.
ABOUT THE POSITION: The Investments Division is comprised of the following asset classes: Public Equities, Private Equity, Real Assets (Infrastructure, Natural Resources, Commodities), Real Estate, Fixed Income, Hedge Funds, Illiquid Credit, Direct Investments (Private Markets), Portfolio Analytics (Risk Management) and Environmental, Social and Governance (Stewardship).
The position entails leading the team responsible for planning and monitoring LACERA’s Real Estate Portfolio investments. Core Real Estate represents 6% of LACERA’s Total Fund strategic asset allocation as part of the Real Assets and Inflation Hedges risk category and Non-Core Real Estate represents 4% of LACERA’s Total Fund strategic allocation as part of the Growth risk category. The Senior Investment Officer position involves leadership of all aspects of real estate investment management including program structure, implementation, the diligence of managers/funds, preparation of recommendations, negotiating agreements, and developing and implementing Board-approved plans. The Real Estate portfolio consists of both private commingled funds and direct real estate holdings currently managed by external advisors. The position also works with other areas of the Investment office on cross-asset projects and functions. The position includes involvement with the areas of environmental, social, governance (ESG) considerations, risk management, asset allocation, and performance reporting.
Vacancy Information: The current vacancy is in the Real Estate Section; however, the resulting eligible register can be used to fill both current and future vacancies throughout the Investments Division.
Work Schedule: This full-time position is required to work a 5/40 schedule (e.g. an eight (8) hour day, Monday through Friday).
CERTIFICATION BONUS: Any permanent, full-time employee working in this classification possessing a valid Chartered Financial Analyst (CFA) certification from the CFA Institute is entitled to a Certification Bonus equal to two (2) salary schedules (approximately 5.5%) as provided by the Los Angeles County Step Pay Plan.
Benefits: 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. - EXAMPLES OF ESSENTIAL JOB FUNCTIONS
-
The following examples are intended to describe the general nature and level of work performed by persons assigned to each classification. Depending on the assignment, duties may include, but are 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
-
SELECTION REQUIREMENTS:
-OR-
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.
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.
PHYSICAL CLASS II Light: Light physical effort which may include occasional light lifting to a 10 pound limit, and some bending, stooping or squatting. Considerable walking may be involved.
SPECIAL CONDITIONS OF EMPLOYMENT:
COVID-19 VACCINATION MANDATE
All LACERA staff members must be fully vaccinated against COVID-19 as a condition of employment. Successful candidates for this position will be required to submit proof of vaccination against COVID-19 or request an exemption for qualifying medical or religious reasons during the onboarding process. Candidates should not present proof of vaccination until instructed to do so by the hiring department. - ADDITIONAL INFORMATION
-
DESIRABLE QUALIFICATIONS:
- Demonstrated experience in developing and implementing investment policies (e.g. Investment Policy Statement), procedures, asset category investment structures, and guidelines (e.g. Investment Program Guidelines) related to real estate investments in separate accounts and private fund vehicles in the achievement of broader portfolio strategic asset allocation objectives.
- Demonstrated experience in a leadership role in an institutional investment portfolio management position for a real estate portfolio achieving superior returns relative to a relevant market benchmark within risk expectations and having a material role in recommending investment decisions, selecting investments, funds, or managers, or making redemptions or asset dispositions.
- Demonstrated experience executing co-investments in real estate.
- Demonstrated experience in researching, evaluating, and monitoring existing public and private real estate investments at an in-depth level across a broad number of investments. Proficiency in analyzing data, using investment performance and risk analytics systems that include real estate, developing an in-depth understanding of sources of relative performance and risks and synthesizing and summarizing historical performance results, and working with service providers such as custody banks, administrators, and investment consultants.
- Demonstrated knowledge of real estate investment strategies and markets gained by investment industry experience being directly involved at a senior level in the investment decision-making process and management of an institutional portfolio. Demonstrated experience in researching, evaluating, participating in the due diligence of, negotiating terms for, and establishing guidelines for external real estate managers at an in-depth level across a broad number of potential investment strategies considered. Experience working with legal counsel on real estate investments.
- Excellent oral and written communication skills with demonstrated experience presenting formal reports and recommendations to a Board or Investment Committee for informed, actionable decisions.
- Demonstrated ability to develop actionable, achievable, results-oriented work plans, work independently, and meet project deadlines.
- Demonstrated experience attracting, leading, supervising, and developing an investment team and management of the team on the day to day and project-related workflow.
Ability to: Communicate clearly and effectively, orally and in writing, present recommendations to internal review groups and LACERA Board; maintain effective working relationships with investment managers, investment consultants, other external advisors, and LACERA staff; understand and follow oral and written directions; provide leadership; work with minimum supervision; plan and organize their work and the work of others; and operate a personal computer utilizing Microsoft applications such as Word, Excel, and PowerPoint.
EXAMINATION CONTENT: This examination process will consist of:
An Evaluation of Training and Experience weighted 100%.
Those candidates which are determined eligible for hire under the Los Angeles County's Civil Services Rules may be invited to the selection process which may be comprised of a selection interview and/or job related assessments.
CANDIDATES MUST MEET THE MINIMUM REQUIREMENTS AND MUST ACHIEVE A PASSING SCORE OF 70 OR HIGHER ON THE WEIGHTED PORTION OF THE EXAMINATION IN ORDER TO BE PLACED ON THE ELIGIBLE REGISTER.
Passing this examination and being placed on the eligible register does not guarantee an offer of employment.
EXAMINATION NOTIFICATIONS: All test invitations (e.g. oral, performance, written, etc.) and/or special notices will be sent to candidates via email to the email address provided on the official application only. Ensure your email address is correct at the time of filing. Allegations of not receiving the email notification to the email address provided on the official application will not be considered an acceptable reason to authorize an early or late examination administration.
For the foreseeable future, all notices including invitation letters, results letters and notices of non-acceptance will be sent electronically to the email address provided on the application. It is important that applicants provide a valid email address.
Please add snorton@lacera.com and info@governmentjobs.com to your email address book and to the list of approved senders to prevent email notifications from being filtered as SPAM/JUNK mail. Please note, if you opt out of receiving emails, you can visit governmentjobs.com, log into your profile and check your inbox. The inbox retains a copy of all emails sent, for your records.DO NOT select "Off" under Email Preferences within your profile or click "Unsubscribe" on our notices if you would like LACERA to notify you regarding your application status, test schedules, and other important information pertaining to your candidacy for this position. LACERA will not consider allegations of not receiving the email notification as an acceptable reason to authorize a reschedule or late exam administration.
ELIGIBLE INFORMATION: The names of candidates receiving a passing grade will be placed on the eligible list/register in the order of their score group for a period of twelve (12) months following the date of promulgation.
APPLICATION AND FILING INFORMATION:
Application must be submitted online. Applicants can check the status of their applications at anytime by logging into their account on www.governmentjobs.com.
The acceptance of an employment application depends upon whether or not an applicant has provided adequate information that clearly demonstrates meeting the Selection Requirements for the position as stated above. Please complete the application and supplemental questionnaire thoroughly and completely. Information provided in the supplemental questionnaire must be reflected in the application to be considered.
Failure to provide complete information on the employment application and on the supplemental questionnaire will impact the assessment of an applicant's qualifications and acceptance in the selection process.
Applications submitted without the complete work history and the supplemental questions completed in their entirety will be rejected as incomplete. "See application" or "See resume" or copy and paste of work experience is not sufficient or qualifying responses.
Resumes will not be accepted in lieu of the completed application or supplemental questionnaire.
In the space provided for education, include the names and addresses of schools attended, and number of credits, degree, and/or certificate(s) earned.
In order to receive credit for any college course work, or college degree, such as an Associate, Bachelor, Master, Doctorate degree, or for completion of a certificate program, you must include a legible copy of the official diploma, official and/or unofficial transcripts, or an official letter from the accredited institution which shows the area of specialization or official certificate(s) at the time of filing or within ten (10) business days from application submission date.
Applicants must provide the appropriate attachments during application submission, email the documentation to humanresources@lacera.com, or fax a photocopy of the required documents to (626) 564-6699 within ten (10) business days of filing. Please include the examination title and number on the documentation.
Failure to provide the appropriate documentation may result in your application being rejected as incomplete and will be removed from consideration.
Your employment history should be listed in order beginning with the most recent.
For each job held, provide the name and address of your employer, your job titles, beginning and ending dates, description of work performed, salary earned, and reason for leaving.
If you have worked in more than one position for one employer, list each job title and/or area of assignment separately on the application to demonstrate your experience in various assignments/occupational areas.
Part-time experience will be evaluated on the basis of its fractional equivalent of a 40-hour workweek.
All required experience must be paid.
This position may require working evenings, weekends, and holidays.
TO APPLY ONLINE GO TO: www.lacera.com and click on the Careers link.
Employees
