(May 5, 2014) – The United Nations (UN) has created a new CIO-level position to lead its $54 billion staff pension fund.
The assistant secretary-general for investments will report directly to Secretary-General Ban Ki-Moon.
The job formalizes duties which have until this point been performed by the UN’s controller, currently María Eugenia Casar. The director of the UN Joint Staff Pension Fund’s investment division, Suzanne Bishopric, will continue to oversee the daily financial operations.
According to the listed description, the assistant secretary-general will “exercise discretionary authority over the investment of the assets of the fund and will be responsible for the overall investment policy and for oversight and management of the investments.”
The successful candidate will also lead investment strategy, asset allocation, portfolio management, and oversee risk management, trade operations, and all back office activity.
The UN is seeking applicants with more than two decades of experience, including a “proven track record…in the management of investment of complex portfolios of assets of various classes, such as pension funds, including their risk management, and in financial markets.”
Any short-listed candidate would be required to attest that they have never been involved in any violation of international human rights or humanitarian law.
Total annual compensation for the New York City-based position would be $189,744, according to UN documents. An individual with dependents would be eligible to take home a greater proportion of that than those without dependents ($146,321 versus $131,682).
While the paycheck couldn’t rival a Wall Street salary, the perks might. Someone familiar with the organization told aiCIO that the job has attracted interest from some “extremely high-profile people” for its stature within the diplomatic community.
The fund’s assets are also at an all-time high. The most recent annual report valued the fund’s total holdings at $45 billion as of December 31, 2012, although the equities-heavy portfolio has surely grown since then.
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