The New Mexico Legislature provides the employer’s portion of the monthly contributions to a member’s account. The ERB is a state agency, accountable not only to its members and its board, but also to the Legislature and governor. It is self-funded, meaning that the operating budget for the association is provided from the return on investment of the fund. The ERB uses no money from the state’s general fund. Board members and agency personnel pride themselves on a conservative and careful approach to investing, and in-house procedures provide economy. Board members and ERB personnel who have built the organization take great pride in ERB’s sound actuarial management, its efficient operations and its member-oriented focus.
Position: Portfolio Manager, Alternative Investments
Location: Albuquerque, NM
Brief Summary of Position:
The Portfolio Manager will be an integral part of the investment team, participating in all aspects of the investment process, from initial screening and due diligence, through approval, to post-investment monitoring and reporting. This position demands excellent communications skills, strong analytical insight and spreadsheet modeling skills, an understanding of financial statements, perseverance and creativity in accessing information, and the ability to balance multiple tasks.
Job Description and Responsibilities include:
- Assist Senior portfolio managers or Deputy Chief Investment Officer (CIO) in sourcing, selection and management of private markets investment portfolios by leveraging in-house software programs (Private I, Pitchbook, Prequin, Bloomberg) and participating in NMERB's thorough due diligence processes. Candidates should have knowledge of both capital and private markets.
- Assist Senior portfolio managers or Deputy CIO in the writing and administration of Investment Department RFP's, RFI's (Requests for Information) and other questionnaires used in manager selection, evaluations and monitoring. Crafting RFP's, RFI's and Questionnaires in collaboration with Investment and Legal Department personnel. Monitor investments through periodic data requests to managers as well as in person meetings and conference calls with investment managers and by working with the consultant to document the progress and level of performance of each investment and fund compliance with governing documents.
- Assist Senior portfolio managers or Deputy Chief CIO in preparation and administration of external investment manager contracts, and monitor external managers for investment performance relative to prescribed benchmarks, as established in our investment policy. The incumbent will ensure compliance with contractual restrictions and NMERB investment policy through NMERB's monitoring protocols. Incumbent will also work with the consultant to establish processes to monitor and administer funding commitments on a timely basis and coordinate the receipt of distributions from the investments. Also work with the consultant to maintain complete and accurate records of all transactions related to each investment, protecting assets/detecting errors, and insuring the reliability of information generated by funds.
- Creating spreadsheets and exhibits to compare and contrast performance of investment managers, illustrate economic and market-based trends, track upcoming fundraising cycles, track investment pacing plans, monitoring adherence to limited partnership agreements and NMERB side letter provisions, and associated administrative tasks associated with Investment Committee, NMERB and Legislative meetings.
Candidate Requirements – Portfolio Manager:
- A Bachelor’s Degree and a minimum of three (3) years of directly related professional experience is required; Applicable education includes investment management, business administration, accounting, financial management, economics, mathematics, statistics, or related field. An understanding of financial theory and statistical measures
- Prior experience conducting investment manager research, sourcing and due diligence in an institutional investment setting (pension fund, endowment, asset management, etc.) is preferred
- Private Market experience is a plus
- MBA or related master’s degree is preferred
- Progress toward Chartered Financial Analyst (CFA), Chartered Alternative Investment Analyst (CAIA), or related designations is preferred.
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