Investment Risk Strategist
Public Employees Retirement Association of New Mexico
The Public Employees Retirement Association of New Mexico (PERA) is a multi-employer public pension plan serving 90,000+ members with a diversified externally managed, multi-asset class Fund of approximately $17 billion, including PERA Smart Save, a supplemental deferred compensation 457b plan, with approximately 23,000 participants and $754 million in assets. Assets are invested in both public and private markets strategies and in a variety of vehicles including SMA’s, commingled funds and limited partnerships, etc.
The mission of the Board of PERA is to preserve, protect, and administer the Trust to meet its current and future obligations and provide quality services to Association members. Help us fulfill this mission by safeguarding and growing the pension to ensure financial dignity for public workers across New Mexico.
Job Description:
In the ever-evolving landscape of the capital markets, PERA aims to strategically position the Fund to enhance liquidity, generate income, and achieve capital growth through careful capital and risk management. We are on the lookout for an Investment Risk Strategist to join our team and help shape the future of public pensions.
Ideal applicants will demonstrate a robust intellectual curiosity and the capacity to engage in deep, innovative thinking when faced with complex problems. Candidates should excel in communicating their ideas clearly and persuasively, both in writing and verbally. A strong enthusiasm for, and demonstrated aptitude in, both quantitative and qualitative research, coupled with a keen interest in institutional investment strategies and asset management evaluation, is essential.
At PERA, we place a high value on our culture, emphasizing collaboration and teamwork. However, we also recognize the importance of individual initiative and the ability to navigate and adapt within a rapid and dynamic work environment. The team is mission focused, understanding their fiduciary duty and the importance of prudently investing assets to meet its statutory obligations to its members. If you’re passionate about contributing to a team while also forging your path in the fast-paced world of public pension plan investing, we would like to hear from you.
The ideal candidate will possess the following skills:
1. Self starter, experience creating risk programs and/or improving existing ones.
2. Broad and extensive investment management experience across multiple asset classes and investment strategies
3. Experience with investment strategy implementation support. Collaborate with the investment team to integrate best practices risk management perspectives into the investment process. Provide insights on market trends, risk factors, and potential impact on portfolio performance.
4. Experience with asset allocation review and implementation.
5. Experience overseeing, managing and reviewing investment performance and risk reporting at the total fund, asset class and individual strategy levels.
6. Experience conducting thorough quantitative total fund analysis to ensure risk allocations and exposures are within acceptable mandate parameters. Monitor investment performance, liquidity, and leverage metrics to identify potential excessive or unintentional risk exposures.
7. Experience identifying, auditing and implementing risk management and measurement systems, and portfolio attribution tools as a mechanism for implementation accountability.
8. Experience overseeing, managing and monitoring liquidity levels.
9. Experience overseeing asset risk management:
10. Experience overseeing, managing and monitoring overlay strategies and implementation.
11. Experience overseeing, managing and monitoring a securities lending program.
12. Experience overseeing, managing and monitoring a hedge fund/absolute return program.
13. Experience conducting investment due diligence on hedge funds and illiquid asset strategies.
14. Experience reviewing prospective deals for co-investment, either directly or through a commingled structure.
15. Experience with regulatory compliance and reporting for illiquid investments.
16. Ability to work effectively as a team player and work collaboratively across teams.
17. Ability to represent PERA at industry events.
18. Experience with stakeholder engagement: Communicate complex risk information effectively to stakeholders, including investment team, Board, and external partners.
Minimum Qualifications:
Six years of progressively responsible investment management experience within a pension system, financial institution or firm, government agency, or similar public, private or non-governmental organization including experience in leading or supporting a large, institutional multi-asset class total fund portfolio. At least one year of experience must be equivalent to being a Portfolio Manager or two years as an Investment Associate. (Possession of an advanced degree (Masters of Financial Engineering a plus) or certification as a Chartered Financial Analyst, Financial Risk Manager, Certificate in Investment Performance Measurement or other equivalent financial or accounting certification such as a Certified Public Accountant, may be substituted for one year of the required experience). Supervisory experience is a requirement.
Miscellaneous:
• The position is based in Santa Fe, NM
• Remote work is allowed 2-3 days per week, candidate must live in the State of New Mexico, per Governor mandated order.
• Periodic travel
• This is an exempt, at-will position.
• Salary range is $130,000 - $180,000.
To Apply:
Please send a current resume and cover letter to LeAnne Larrañaga-Ruffy, Deputy Chief Investment Officer, at Public Employees Retirement Association of New Mexico. Only candidates chosen to participate in interviews will be contacted. Active recruiting began May 1, 2024, and will remain open until filled.
Public Employees Retirement Association of New Mexico is committed to the principles of equal employment and workforce diversity.