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This posting will close Tuesday, August 8, 2017 at 5:00 PM Central Time
This position reports to the Director of Operational Due Diligence of the Texas Permanent School Fund (TPSF), a $30 billion public fund endowment. Provides highly complex financial analysis, risk assessment and operational due diligence work related to underwriting third party investment managers and PSF service providers. Responsibilities will include implementing and executing tailored, ongoing risk assessment and mitigation plans, monitoring third party advisors and participating in the investment selection process. Works under limited supervision, with considerable latitude for the use of initiative and independent judgment.
Assists with interviews of senior personnel at underlying third party managers, third party administrators, accounting firms and other fund service providers, and documents on-site fieldwork and interview process. Drafts written recommendations about the results of operational due diligence efforts.
Assists in the analysis of the existing operational infrastructure at underlying investment managers, including an evaluation of the people, processes, and technology used to identify and control risks. Compares the infrastructure and internal control environment to industry standards and best practices and makes recommendations to mitigate risks identified.
Assists in the analysis of financial statements, correspondence and regulatory filings as part of operational due diligence reviews of underlying managers and document findings.
Evaluates and monitors various fund manager communications and prepare periodic information sweeps of underlying managers.
Assists in the analysis of investment operations-related responsibilities pertaining to cash management, risk management and trade execution and settlement.
Documents the process, procedures and outcomes of operational due diligence efforts.
Maintains good working relationships with appropriate industry contacts, fund managers and internal and external stakeholders.
Pursues continuing professional education to broaden knowledge, skills and abilities.
Other duties as assigned.
Relocation costs will not be reimbursed. All TPSF employees are subject to background checking before being hired.
Education: Graduation from an accredited four-year college or university with major course work in business administration, accounting, finance or related field is required.
Experience: A minimum of three (3) years of financial services experience, and a working and applied knowledge of securities markets, corporate financial statements, and macroeconomics is required. Prefer experience with hedge fund investments, fund administrators, auditing firms, dedicated due diligence firms.
License/Certification: CPA, CIA, CFA or CAIA, preferred.
Travel: 20% required.
Knowledge, Skills, and Abilities (KSAs):
Knowledge of: Securities accounting, procedures, and capital market operations; research techniques; statistical concepts and methods and their application to research analysis; various financial data systems; macroeconomics; local, state, and federal laws and regulations relevant to the investments industry; the principles and practices of public administration; processes within financial institution operations with knowledge of investment strategies and instruments; and the hedge fund, private equity and real estate investment industries is a plus.
Skill in: Mathematics, analytics and in the use of computer software programs, particularly advanced Word, Excel and Powerpoint; writing and listening with a proven ability to disseminate information effectively and articulate thoughts in a clear and concise manner to staff and various governing bodies through written correspondence, presentations and/or meetings; keen interpersonal skills, be results oriented and able to exhibit strong work habits.
Ability to: Employ strategic interview techniques; take control and manage tasks independently to closure; apply financial research techniques and to conduct searches and evaluations of data utilizing the internet and other resources; analyze, evaluate and summarize financial data and prepare management reports; prioritize the work, to be flexible and manage multiple projects and assignments with attention to details and minimum supervision; demonstrate a high degree of integrity and recognize the requirements of confidentiality; demonstrate initiative and work in a fast-paced, changing environment; be a team player, a self starter and an independent thinker; and travel.
Desired Character Traits: Honest, ethical, curious, flexible, respectful, proactive and effective working with individuals from diverse professional backgrounds.
NOTE: An in-box exercise may be administered at time of interview.
Positions exempt from the Fair Labor Standards Act (FLSA) will earn compensatory time off rather than overtime for hours in excess of 40 per week. May be required to work hours other than 8 to 5. May be required to work weekends and holidays.
In accordance with applicable federal and state equal opportunity laws, it is TEA's policy that no person shall be excluded from consideration for recruitment, selection, appointment, training, promotion, retention or any other personnel action, or be denied any benefits or participation in any educational programs or activities which it operates on the grounds of race, religion, color, national origin, sex, disability, age or veteran status (except where age, sex, or disability constitutes a bona fide occupational qualification necessary to proper and efficient administration). The Immigration Reform and Control Act requires all new employees to present proof of identity and eligibility to work in the United States. TEA does not sponsor H1-B work visas. Males, 18 to 25 years of age, are required to present proof of selective service registration (or exemption) prior to being employed by any state agency.
There is a 60-day waiting period for health insurance coverage.
This position requires the applicant to meet Agency standards and criteria which may include passing a pre-employment criminal background check, prior to being offered employment by the Agency.
Please note, TEA does not accept resumes.
All applications must be submitted through the TEA website:
The Texas Permanent School Fund is a $32+billion perpetual endowment fund that benefits the public school children of Texas. Fiduciary authority for the fund lies with the State Board of Education and the fund is administered by the investments Division of the Texas Education Agency. The Texas Permanent School Fund is a division of the Texas Education Agency. TEA is an equal opportunity employer.