The New York City Comptroller’s Office Bureau of Asset Management (BAM) is responsible for oversight of the investment portfolio of the New York City Retirement Systems (the Systems) which is comprised of five pension systems. This $200 billion portfolio is managed primarily by external investment managers, and while largely invested in publicly traded securities, has growing allocations to private equity, real estate, infrastructure, hedge funds and opportunistic fixed income investments.
The Senior Investment Officer, Real Estate will assist in managing private and public (REITS) real estate investments which currently have a target asset allocation of approximately $18 billion.
Under the supervision of the Real Estate Asset Class Head, responsibilities include, but are not limited to, the following:
• Collaborate with the investment team on policy, strategic planning and risk management issues;
• Lead initiatives to Identify, review, evaluate and conduct due diligence on prospective investment opportunities;
• Assisted by legal counsel, industry consultants, and other team members, negotiate terms and conditions of new investment agreements and other related contracts.
• Prepare documents and present investment recommendations to BAM’s internal Investment Committees and the Systems’ Boards of Trustees;
• Monitor and manage the portfolio of existing investments to ensure compliance with the terms of the limited partnership agreement and other contracts;
• Work with the Real Estate team to develop internal databases of new opportunities and existing investments which include a framework for analyzing and reporting on manager and investment attributes and portfolio performance;
Minimum Qual Requirements
• Master’s degree in business administration, economics, finance, or a closely related field and four (4) or more years of full-time experience in a financial services organization with progressively increasing responsibility for complex financial transactions involving institutional debt and/or equity real estate investments or similar experience at a consulting firm or in a closely related area; or,
• BS/BA degree from an accredited college or university and six (6) or more years of full-time satisfactory experience as listed above; or,
• A satisfactory equivalent of education and experience mentioned above.
• Expert knowledge of financial principles and concepts and their application to the process of underwriting and evaluating institutional real estate investments;
• 8+ years of experience with a financial services firm, preferably in debt or equity institutional real estate;
• Clearly demonstrated experience in investment manager sourcing and due diligence; portfolio management, structuring and monitoring; producing monthly, quarterly and annual investment materials; and, constructing and producing clear, cohesive investment recommendation documents;
• Excellent financial analysis, writing, presentation, interpersonal, communication and organizational skills;
• Strong fluency in Microsoft Office Suite (Word, Excel and PowerPoint).