NY State Pension To Bolster Investment Team

The $178 billion fund is looking to fill positions in risk, fixed income, and real assets.

The New York State Common Retirement Fund is recruiting for multiple open positions in its Albany and New York City investment offices.

The $178.3 billion fund, the third largest public pension in the US, is seeking talent in risk, fixed income, and real assets.

“The fund is consistently ranked as one of the top public pension funds in the country, and our funded ratio is among the best,” said CIO Vicki Fuller in a statement. “As we look to add to our investment team, we want to tap the best that New York and the financial community have to offer.”

Open positions include director of fixed income—to be based in Albany—and chief risk officer, based in New York or Albany. Both roles report to Fuller and require 12 to 15 years of related experience.

To lead the pension plan’s fixed income investments, the fund seeks a candidate with “expert knowledge of all aspects” of the asset class and the ability to “negotiate effectively with managers and external parties to drive favorable terms.”

The director will oversee all fixed income investment and operations staff and work with fund leaders to determine investment policies and the plan’s strategic direction.

The chief risk officer will likewise contribute to investment policies and strategic direction, as well as oversee all investment and operations staff dedicated to risk. Applicants for the position should have “demonstrated skill in analyzing and recommending portfolios that meet specific risk and return objectives” and be able to “build consensus around specific risks.”

The fund is also seeking an investment officer and a senior investment officer in real assets, newly created positions that can be based in New York or Albany. Only 1.3% of the fund’s portfolio was invested in “opportunistic alternatives and real assets” as of December 31, 2015.

The senior investment officer will be responsible for selecting managers and developing a real assets portfolio. The investment officer will conduct due diligence on managers and monitor the portfolio’s performance.

Both positions report to the real assets director and informally oversee junior investment and operations staff.

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