Investment Analyst​/Officer

Education Verification

Working Title: Investment Analyst/Officer, Cash Management

Job Class: Investment Analyst, Senior or Investment Officer

Agency: Minnesota State Board of Investment (SBI)

• Job : 91930
• Location: St. Paul
• Telework Eligible: SBI currently utilizes a hybrid model, with weekly anchor days required. This is subject to change at the discretion of the SBI Executive Director.
• Full/Part Time: Full-Time
• Regular/Temporary: Unlimited
• Who May Apply: Open to all qualified job seekers
• Date Posted: 02/04/2026
• Closing Date: 02/20/2026
• Hiring Agency/Seniority Unit: Investment Board / Investment Board-Managerial
• Division/Unit: State Board Of Investment(SBI) / Public Markets
• Work Shift/
  
  Work Hours:
  
  Day Shift
• Days of Work: Monday - Friday
• Travel Required: Minimal, up to 5%
• Salary Range:
  • Investment Analyst, Senior: $139,771 to $188,400 annually
  • Investment Officer: $162,843 to $230,808 annually
• Classified Status: Unclassified
• Bargaining Unit/Union: 220 - Manager/Unrep
• FLSA Status: Exempt - Executive
• Designated in Connect 700 Program for Applicants with Disabilities: No

The work you'll do is more than just a job.

At the State of Minnesota, employees play a critical role in developing policies, providing essential services, and working to improve the well‑being and quality of life for all Minnesotans. The State of Minnesota is committed to equity and inclusion, and invests in employees by providing benefits, support resources, and training and development opportunities.

The Investment Analyst/Officer will work as part of the Minnesota State Board of Investment’s (SBI) Internal Cash Desk. The Internal Cash Desk is responsible for conducting day-to-day trading of fixed income securities, formulating portfolio management in accordance with return and risk objectives, and executing the strategy across the Invested Treasurer’s Cash (ITC) Pool, Debt Service and other accounts. As a member of the investment team, this position will conduct fixed income credit research in support of the Desk’s approved issuer list, prepare and present written reports to the SBI cash team and senior management, and contribute to portfolio risk management and process improvement efforts.

The Analyst/Officer will work closely with portfolio managers to learn all aspects of the portfolio management process to develop the knowledge to trade and manage the ITC portfolio in a back‑up capacity, with the goal of assuming greater ongoing primary portfolio management responsibility over time.

• Research and evaluate assigned credit issuers according to SBI’s credit review schedule, maintain SBI’s ‘Approved Issuers List’, optimize SBI’s use of rating agency information, and prepare in‑depth research reports for presentation to the team and senior management.
• Integrate data in reports by using technology from other vendors (Bloomberg, rating agencies, broker/dealer websites, etc.) into research reports and portfolio reports to improve data flow and support consistent data updates and refresh of credit research reports.
• Using technology, assist in developing and supporting SBI’s internal cash team analytical efforts related to macroeconomic data, portfolio metrics, trading calculations, and Asset Liability Management (ALM) via dashboard or another end user interface.
• Actively participate in the Internal Cash Desk’s portfolio strategy meetings, develop knowledge around the process of formulating overall near‑term and longer‑term investment strategy and risk management parameters, given near‑term cash flow needs and projections, and relative value considerations in each market environment.
• Shadow/train on day‑to‑day Internal Cash portfolio strategy through trading of securities via approved broker/dealer counter parties, Bloomberg trading interfaces or other electronic trading systems.
• Contribute to SBI’s market knowledge, investor presence and reputation among the fixed income investor community/street and peer organizations by representing SBI at trade shows, industry conferences and events, both in person and remotely.
• Support SBI’s middle office via operational workflow related to order management, repo trading/collateral management, trade entry…