Senior Investment Analyst
The Contra Costa County Employees’ Retirement Association (CCCERA) located in Concord, California is offering an excellent career opportunity for a Senior Investment Analyst
to join our small team that oversees a public pension plan portfolio of approximately $10 billion. CCCERA is a contributory defined benefit pension plan covering the employees of Contra Costa County and other participating agencies and is governed by a twelve-member Board of Retirement.
This will be a generalist role but with a primary focus on Private Equity which has a target allocation of 13%. The incumbent will work closely with the Senior Investment Officer in the implementation and monitoring of a direct private equity strategy. They will support due diligence efforts, assist in quantitative and qualitative analysis of new and existing managers, and conduct detailed performance and portfolio analysis. In collaboration with our Private Equity consultant, StepStone, CCCERA is focused on building a high-quality direct Private Equity program. In 2022, CCCERA committed $425 million and is on pace to commit $350-$400 million in 2023.
Examples of Typical Job Functions:
Education and Experience:
- Assist in monitoring, analyzing and projecting cash flow to anticipate fund expenditure requirements and to maximize earning power of funds available for investment and ensure that the Board’s assets allocation plan is properly maintained.
- Assist in preparing and evaluating reports on the various investments including private equity, limited partnerships and other non-traditional investments, prepare special analyses of underlying portfolio investments, and monitor performance relative to original expectations and regularly revise projections.
- Assist with research and screening of various investment products and services and prepare reports, analysis and recommendations.
- Assist in monitoring and ensure compliance of CCCERA’s external money managers with the Board’s investment policies and guidelines.
- Assist in the formulation and implementation of investment strategy and tactics.
- Maintain close liaison with outside investment advisors with respect to the systems investment program; study and make recommendations to the Senior Investment Officer on advice received from outside consultants; study and analyze financial trends.
- Assist in the review, negotiation and administration of contracts for services.
- Meet with banking, financial and investment organizations to discuss investments, financial markets and economic trends.
- Monitor the Board's commission recapture program.
- Assist with proxy voting and shareholder activities in compliance with the Board's proxy voting guidelines.
- Act as liaison to investment managers in monthly and quarterly reporting and monitor their compliance with Board established reporting deadlines and report formats.
- Assist with coordination of securities litigation.
- Maintain contract database and document status of agreements in process.
- Perform related duties as required.
Equivalent to graduation from a four year college or university with a major in accounting, economics, finance, public administration, business or a closely related field and five years of full-time, or its equivalent, increasingly responsible professional level experience in the financial service industry with direct experience in building financial models, deal teams, private equity fund underwriting, direct deal underwriting, investment banking, investment-focused programming language or other data analytics, and/or monitoring investments for a pension fund.
Must be willing to work irregular hours as necessary. Travel of up to 25% is included in this position.
Experience with 1937 Act Retirement systems and/or pension administration systems is desirable, but not required.
Licenses and Certifications
: Chartered Financial Analyst designation, Chartered Alternative Investment Analyst, Financial Risk Manager or equivalent are desired.
- Laws, rules, regulations and professional standards regarding the investment of public pension fund
- Principles and practices of institutional investment management
- Modern portfolio theory and application
- Principles and practices of institutional securities transactions, real estate and other non-traditional investment areas
- Economic and market conditions and trends and their effect on short term and long-term investment programs and strategies
- Principles and practices of research methods and report preparation
- Principles of finance, statistics and administrative analysis
- The research and interpretation of information for investment analysis
- Statistical and computer techniques/programs applicable to financial data in evaluating investments and fixed income portfolios
- The analysis and evaluation of financial instruments, strategies and trends
- Assessing the accuracy and quality of written and oral materials
- Additional Information
Applicants will be reviewed when they are submitted.
This position has 5 steps in the salary range. CCCERA generally starts new hires at step 1, or step 2 based on qualifications. The salary increase from step 1 to step 2 is assessed at 6 months and annually thereafter.