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Investment Officer, Alternative Investments, P4, JO 100136, UNJSPF/IMD
United Nations Joint Staff Pension Fund (UNJSPF)
September 15, 2018
New York, New York
Investment Officer, Alternative Investments, P4, JO 100136, UNJSPF/IMD
Org .Setting And Reporting
This position is located in the Investment Management Division (IMD) of the United Nations Joint Staff Pension Fund (UNJSPF). IMD is responsible for the day-to-day management of the investments of the Fund. The incumbent reports directly to the Senior Investment Officer- Alternative Investments who is responsible for managing the Alternative Investments portfolio.
The United Nations Secretary-General is responsible for the investment of the assets of the United Nations Joint Staff Pension Fund (UNJSPF). The Secretary-General has delegated this responsibility to the Representative of the Secretary-General for the investment of the assets of the UNJSPF (RSG). The RSG is, in turn, assisted in this function by the Investment Management Division (IMD) of the UNJSPF. IMD manages a $65 billion multi-asset, global investment portfolio, about 85% of which is actively managed in house. Asset classes under management comprise global equities, fixed income, foreign exchange, private equity, real estate, infrastructure, timber and commodities. IMD's staff are all based in New York, but come from over 30 countries.
Staff members are subject to the authority of the Secretary-General and to assignment by him or her. In this context, all staff are expected to move periodically to new functions in their careers in accordance with established rules and procedures.
Within delegated authority, the incumbent will be responsible for the following functions:
Under the direction of the Senior Investment Officer-Alternative Investments (SIO), manage and invest the assets of the Fund in alternative investments, including private equity (PE) and absolute return strategies.
For the assigned alternative investment portfolio, attend all advisory board and annual meetings; perform regular reviews and evaluations of managers, as well as an annual strategic review for each fund, in order to optimize investment return at minimal risk.
Participate in interviews of new fund managers; assist with due diligence on new investments (including such co-investments and direct investments, as may come up in the future), as well as the process reviewing of fund documentation.
Balance long-term strategies to achieve results superior to benchmarks by assisting the SIO in constructing and monitoring the portfolio through dedicated research. Keep abreast of and track developments in the alternative asset markets, and contribute to making and executing investment decisions.
Conduct research and analysis of investments through ongoing communications with alternative investment managers and other financial institutions. Recommend specific investment and divestment opportunities as appropriate in order to achieve superior investment returns.
Comply with risk control parameters as delineated in the Investments Policy and Procedures Manual with the goal of producing optimal investment returns that avoid undue risk. Integrate Principles of Responsible Investments into investment analysis and monitor both internally and externally managed holdings, subject to IMD standards of fiduciary responsibility to the Fund. Work with the advisors and Master Record Keeper to synchronize financial reporting.
Promote a high standard of transparency and accountability in all aspects of the management of the assets of the Fund through accurate and timely record keeping. Coordinate production of investment data that is accurate and timely. Interact effectively with Internal and External Auditors to ensure that assets are fully protected. Conduct research and analysis of investments through ongoing communications with other investors and financial institutions and fund sponsors. Prepare reports on investment returns and strategy for review and discussion in regularly scheduled meetings, such as Private Markets Committee (PMC) and Performance Review meetings, and ensure the availability of accurate data on the Fund's alternative investments.
Prepare for quarterly Investments Committee meetings; implement asset class and regional allocation strategies decided upon by the Representative of the Secretary-General for the investments of the UNJSPF.
Ensure that the Director of IMD and the Representative of the Secretary-General for the investments of the UNJSPF have accurate and timely reports on alternative investments and related matters for the UNJSPF Board, the Advisory Committee on Administrative and Budgetary Questions (ACABQ), the Fifth Committee and the General Assembly by producing papers on alternative asset investment-related subjects. Coordinate investment related work by evaluating the quality of the advice of recommendations submitted by advisors.
Ensure that IMD maintains a high level of professional investment expertise and knowledge by exploring published economic and investment material provided by advisors and other relevant sources. Participate in regular meetings/discussions with the designated investment advisors and other sources of information; participate in seminars on investment topics; participate in meetings with top management of companies of interest or potential interest to the Fund, when requested by the Senior Investment Officer. Exchange views with, and provide advice and guidance to, colleagues within IMD.
Supervise and train staff to improve skills and expand experience in order to increase motivation and promote superior performance by all staff members. Must be able to travel domestically and internationally. Recruit staff for IMD subject to approval of the Director of IMD, taking due account of geographical and gender balance and other institutional values.
Advanced university degree (Master's degree or equivalent degree) in Business Administration (MBA), Finance, Economics or related field is required. A first-level university degree in combination with an additional two years of qualifying experience may be accepted in lieu of the advanced degree. Chartered Financial Analyst (CFA) or equivalent designation is desirable.
A minimum of seven years of progressively responsible experience related to analysis and/or management of private equity and/or investment management experience in the area of private equity is required.
Experience related to analysis of opportunistic special situation strategies or investment management experience in the area of opportunistic special situation strategies is desirable.
Experience of private equity co-investments or direct investments is desirable.
Experience in collaborating with other long-term investment institutions on private equity or similar investments is desirable.
Alternative investment management experience in pension funds, public funds, endowments, foundations or sovereign wealth funds is desirable.
English and French are the working languages of the United Nations Secretariat. For this position, fluency in English is required. Knowledge of another official language of the United Nations is desirable.
Applicants are urged to carefully follow all instructions available in the online recruitment platform, Inspira.