Managing Director - Venture Capital and Co-Investment Program (Managing Director II MSRP

Introduction

The Maryland State Retirement Agency is the administrator of the Maryland State Retirement and Pension System (“System”). The System is a defined benefit retirement system covering governmental employees within the State of Maryland. It’s composed of twelve (12) separate retirement and pension systems with over 50 different rule sets. The System has over 430,000 participants (customers), including 192,000 members who are actively employed and participating in the System, 165,000 payees who receive a monthly payment from the System, and 40,000 vested members who are no longer actively employed but have earned a benefit that will become payable at a future date.

Located in Baltimore’s Central Business District, SRPS offers a purpose-driven workplace with modern amenities, including panoramic city and harbor views, renovated common areas, upgraded elevators, and an on-site café. This position and serves at the pleasure of the Appointing Authority.

MSRP 0002

120

E. Baltimore St.
Baltimore, MD 21202

The Managing Director - Venture Capital and Co-Investment, works directly with the Board of Trustees, Investment Committee, Executive Director, Chief Investment Officer, Deputy Chief Investment Officers, external consultants, external managers and others in the development, implementation and maintenance of broad investment policies established by the Board of Trustees. This position reports to the Deputy Chief Investment Officer – Private Markets and oversees a professional staff of 4 individuals.

• Lead a team of investment professionals
• responsible for meeting the risk and return objectives of venture capital and private equity co-investments.
• Establishes overall strategic investment program management goals, standards and controls to meet asset class and total fund objectives and the levels of resources required.
• Recommends and assists with determining appropriate benchmarks/indices/guidelines for evaluating investment performance.
• Forecasts market changes based on economic and industry analyses.
• Provides direct leadership, oversight, management and career development of professional investment staff.
• Provides oversight and management of external venture capital managers, consultants, and others with respect to the management of the investment program.
• Ensures that the integrity of the established investment framework is maintained, policies and procedures are implemented as intended, with an awareness of appropriate rules, laws, regulations and compliance controls.
• Identifies potential areas of vulnerability and risk, develops / implements corrective action plans for resolution, and provides guidance on mitigation of similar situations in the future.
• Provides guidance, input and recommendations for investment strategies and on projected strengths and weaknesses of investment approaches.
• Serves as an independent reviewer and evaluator to ensure that investment issues / concerns are being appropriately monitored, evaluated, investigated, resolved and communicated.
• Designs and develops quantitative and analytic models and tools to help identify attractive venture capital and co-investment strategies and opportunities and monitor and mitigate various types of risk associated with these investments.
• Gathers data, analyzes results, and communicates performance results.
• Manages the due diligence process for investing in venture capital managers and private market co-investments and makes investment recommendations to the Chief Investment Officer.

• Establishes program goals, standards, and controls for venture capital and private equity co-investments to meet risk and return objectives.
• Oversees investment professionals and financial resources of the investment management program.
• Ensures the integrity of the established investment framework through implementation of policies and procedures, awareness of rules, laws, and regulations by professional investment staff, external investment managers, and consultants.
• Monitors and manage relationships with external venture capital investment managers and private equity co-investments.
• Identifies…