ABOUT THE WSIB:
The Washington State Investment Board (WSIB) is a dedicated global investment management organization with over $171.5 billion in assets under management. The WSIB's globally diversified portfolios are comprised of more than 14,000 holdings across 87 countries on 6 continents and in 45 currencies. The WSIB's central mandate is to maximize return at a prudent level of risk.
The WSIB manages investments for 17 retirement plans for public employees, teachers, school employees, law enforcement officers, firefighters, and judges. We also manage investments for several other important public funds that benefit Washington’s industrial insurance program, colleges and universities, and developmental disability programs. The WSIB’s excellent investment performance dramatically contributes to the state’s bottom line by earning the lion’s share of money needed to cover state pension benefits.
The WSIB is seeking two (2) qualified candidates to join our team as an Investment Officer (IO) on the Private Equity Team. This is a unique opportunity to join a globally recognized investment management organization. The primary objective of the IO – Private Equity is ongoing selection, due diligence, and monitoring of individual private equity partnership commitments, while ensuring consistency with statutes, regulations, and Board policies. The IO will be expected to work with the highest standard of professional and ethical conduct, and for the exclusive benefit of WSIB beneficiaries.
These roles assist the Senior Investment Officer (SIO) – Private Equity in prudently deploying the allocation that the Board has established for Private Equity and implementing the annual plans and objectives for the unit with the intent to create a well-diversified and well-performing risk adjusted portfolio.
If selected for one of these opportunities, you will actively participate in the development, recommendation, implementation, monitoring, and termination of investments in the private equity portfolio. This includes:
- Contributing as a member of a team committed to diversity, equity and inclusion in our work and workplace.
- Working closely with general partners, advisors, and legal counsel to implement goals and objectives.
- Maintaining and developing relationships with the WSIB’s private equity general partners and attending partnership meetings as required.
- Participating actively on limited partnership advisory committees.
- Identifying, evaluating, recommending, and monitoring private equity investments.
- Performing due diligence on potential investment opportunities.
- Preparing written materials for, and making oral presentations to the Investment Committee, WSIB Board, and WSIB Board Committees.
- Negotiating legal and business terms and conditions in partnership agreements.
- Assisting the Senior Investment Officer in developing and implementing overall portfolio strategy.
- Assisting in complex cash flow modeling and strategic management.
- Preparing and evaluating Requests for Proposals (RFPs) as needed.
- Traveling frequently, including internationally, as the WSIB's is an actively monitored portfolio which includes a significant non-U.S. component.
We're looking for two experienced investment professionals who can immediately and effectively diligence, underwrite, negotiate, and execute private equity partnership commitments, as well as monitor a portfolio of existing investments. We’re looking for strong, independent performers who can partner well with our cohesive team environment; trustworthy professionals who value diversity, equity, and inclusion; professionals interested in exposure to various asset classes and opportunities to become better investors. We're looking for self-starting, critical-thinking, principal investors interested in improved work/life balance while taking on the challenges associated with working for one of the world’s leading asset allocators.
Competitive applicants will have:
- Bachelor’s degree in business, finance, accounting or related field.
- Three (3) years of comparable experience in institutional private equity investment management.
- Either of the following may substitute for up to one (1) year in total of the three years of experience requirement:
- Certification as a Chartered Financial Analyst (CFA)
- An advanced degree in business, finance, accounting, or related field
- CFA Certification.
- Specialized Industry Knowledge–A working knowledge of all sub-classes of private equity, including venture capital, growth equity, leveraged buyouts, and credit strategies.
- Analytical Skills–The ability to analyze investment opportunities, identify merits and concerns, evaluate risks, research issues, and make recommendations.
- Communication Skills–Excellent written and verbal communications skills are essential. The IO prepares written due diligence reports for presentation to the Investment Committee and Private Markets Committee, and makes oral presentations to the Investment Committee, Private Markets Committee, and Board. The IO will also complete written quarterly monitoring reports and must clearly and concisely document issues discussed in partnership annual meetings and advisory committee meetings.
- Interpersonal Skills–The ability to work well with other investment officers as part of a team, which is critical to the success of the private equity unit. In addition, the IO will coordinate and facilitate workflow with a diverse group of external parties, including consultants, attorneys, managers, and general partners.
- Excellent Negotiation Skills–The ability to participate in the negotiation of terms and conditions of complex limited partnership agreements.
- Ability to effectively manage multiple projects simultaneously, often complicated by tight time frames and travel demands.
- Computer Skills–Proficiency in Word and Excel.
In addition to a complete profile, please include:
- A cover letter specifying why this position is of interest to you and how you meet the qualifications listed above. This letter should be no more than two pages.
- A current chronological resume.
- A list of at least three professional references under the profile section. References will not be contacted without the written consent of the applicant but must be submitted at the time of application.
This position is anticipated to perform work remotely during the COVID-19 pandemic, although incumbent should be available for onsite work and business travel upon a phased reopening of the office.
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