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Reporting to the Executive Director and Chief Investment Officer, the Managing Director of Public Equities is responsible for the System’s public equity portfolio. The public equity portfolio represents a target of 53% of total NYSTRS’ assets and includes: a) active and passive portfolios, b) internally and externally managed portfolios and c) domestic, international and global portfolios. The position is responsible for performing complex duties requiring a high degree of integrity, expertise and sound judgment.
The Managing Director of Public Equities must align and support the System’s investment philosophy and policy objectives including initiatives on diversity, inclusion and ESG. The successful candidate should have broad knowledge of passive and active equity investing approaches, and institutional experience including significant experience in factor-based investing, portfolio construction and asset allocation. An in-depth understanding of global economics and capital markets, equity investment strategies and vehicles, the principles and practices of institutional investing, investment operations, and investment policy development are also required.
This position will require travel which will range from 10% to 15% per year.
A bachelor’s degree and ten (10) years professional institutional investment experience, including:
- Implementing and managing an internal or external investment management program
- Managing, mentoring and developing professional investment staff
- Demonstrated success as an active participant of a senior-level professional investment team
- Experience making presentations at a Board or Investment Committee level
- Advanced degree in finance, economics, business, statistics or a related or complementary field
- CFA Charter holder
- Strong technical skills including experience with portfolio optimization tools
- Ten plus years of institutional investment management experience and expertise with a demonstrated record of risk controls and performance
- Demonstrated experience and belief in systematic and factor-based investment processes
- Experience developing, implementing and managing an internal and external investment management program.
- Experience with multiple asset classes and asset allocation decisions.
- Strong leadership skills, including decision making, risk management, organizational awareness, adaptability, flexibility and professional confidence
- Excellent oral, written and listening communication skills
- High degree of professionalism, integrity, honesty and ethical behavior
The Managing Director of Public Equities is responsible for, but not limited to, the following duties:
- Oversee the public equity portfolio with a value of $77.5B at 3/31/2021 and allocation targets of 33% domestic equities, 16% international equities and 4% global equities or 53% of the total NYSTRS’ portfolio
- Provide leadership, management, supervision, guidance and expertise to the Public Equities team comprised of 12 members across three divisions: (1) Quantitative Strategies and Internal Portfolio Management, (2) Equity Trading and (3) External Portfolio Management
- Including management, guidance of and insight into a) index and systematic active strategy development, improvement and implementation, b) manager research, selection and oversight, c) equity trade execution and transaction cost analysis and control, and d) all administrative aspects of operating the Public Equities department
- Analyze and implement legal, regulatory, and policy initiatives as appropriate
- Provide advice and expertise as a voting member of the Internal Investment Committee (IIC) on all new investments across all asset classes
- Along with the Executive Director and Chief Investment Officer coordinate the quarterly Investment Advisory Committee (IAC) meetings. The IAC is a group of outside experts that lead general investment discussions following formal presentations with staff and Board members.
- Manage the relationship and coordinate the advice and activities of the Systems general investment consultant
- Facilitate and host along with the NYSTRS Executive staff the annual Minority and Women Owned Business Enterprise (MWBE) conference providing guidance on how to do business with NYSTRS
- Provide quarterly updates to the Systems Board of Trustees
- Travel for manager and broker due diligence, follow-up site visits
- Attend conferences in order to network and stay abreast of investment industry developments
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