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The primary role of the Investment Officer is to work with rest of the Real Estate team in overseeing real estate partnerships on behalf of the WSIB. This position may participate in a variety of aspects of the Real Estate program including but not limited to:
Management of a sub-portfolio of investment relationships.
Ongoing due diligence of existing relationships.
Leading and strengthening positive relationships with senior management teams of portfolio companies.
Providing strategic direction to investment partners.
Due diligence and underwriting of potential new company-level investments.
Providing feedback and input related to the overall strategic direction and needs of the Real Estate portfolio.
In all cases, team members are actively involved with the portfolio's investments; our approach is hands-on and it is expected that the Real Estate team spends a significant amount of time on the ground with our local investment partners. The travel requirement is extensive and frequent.
Oversight of real estate partnership investments, which are primarily structured as controlling interests of operating companies. This oversight includes:
Maintaining awareness of the performance of the holdings of each partner relationship assigned, through constant communication and regular onsite reviews.
Building and maintaining positive communication and relationships with the management teams of the partnerships assigned.
Working with senior management teams of assigned relationships to provide strategic direction.
Involvement in the annual business planning process of investment partners (which includes partnership budgets).
Maintaining a constant dialogue with WSIB partners regarding strategic, financial, operational, and other matters in a timely manner.
Review proposed real estate partnership investments and recommend the pursuit or rejection thereof. Process may include strategy overview, market underwriting, key meetings with potential partners' senior management, document review, company background research, risk and financial structure analyses, on-site due diligence, meetings with legal and tax professionals, etc. Prepare and present recommendations based on findings and conclusions.
Negotiate key terms of investment agreements.
Recommend changes to and/or termination of partnerships.
Complete other general market and economic research as necessary. This may include research regarding real estate markets, including opportunities in emerging countries.
Work as part of the Real Estate team in forming long-term strategic direction.
Bachelor's degree in business, finance, real estate, economics, or related field; AND
Five years or more direct and comparable experience in institutional real estate investment management.
While direct and comparable experience is strongly preferred, in lieu of this experience requirement, substitutions may be made as follows:
Two years of full-time institutional-level real estate asset management experience (not property management) may substitute for each year of direct investment experience.
Three years of full-time experience in major commercial real estate lending to institutional real estate borrowers while employed at a national or global lending institution may be substituted for each year of direct investment experience.
Two years of full-time experience in institutional-level private equity management may be substituted for each year of direct experience (maximum of three years total; must still have some relevant real estate experience).
Additionally, either of the following may substitute for up to one year in total of the five years of experience requirement:
Certification as a Chartered Financial Analyst.
An advanced degree in real estate, finance, economics, or business. Candidates with an appropriate advanced degree may have an undergraduate degree in any discipline.
Availability for frequent business travel is required, including internationally, as this is an actively managed portfolio which includes a significant non-U.S. component. One may expect to travel as much as 50% of the time.
PLEASE NOTE: Experience in the areas of property management, leasing, brokerage/sales, residential mortgage origination or servicing, and securities sales will not be counted towards any of the above experience requirements.
Experience in underwriting and evaluating management teams involved in commercial real estate investment.
Knowledge of global commercial real estate investment industry trends.
A working understanding of typical investment capital structures.
Highly developed skills in negotiating, structuring, and documenting complex partnership agreements.
Knowledge of capital markets and related activities, events, and trends.
Ability to analyze and summarize financial, economic, statistical, legal, demographic, accounting, market, and other relevant data.
Strong risk assessment skills.
Excellent written and oral communication skills, as written reports and oral presentations are an integral part of the responsibilities of the position.
Considerable familiarity with global economic and demographic trends, and with world geography and geopolitics.
TO APPLY PLEASE VISIT – WWW. CAREERS.WA. GOV In addition to a complete profile, please attach:
A cover letter specifying why this position is of interest to you, and how you meet the qualifications listed above. This letter should be no more than two pages.