Investment Analyst, Risk Management

Working Title:

Investment Analyst, Risk Management Job Class:
Investment Analyst, Intermediate/Senior

• Job
• Location:
  
  St. Paul
• Telework Eligible:
  Yes, 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: 09/12/2026
• Closing Date: 10/02/2026
• Hiring Agency/Seniority Unit:
  Investment Board / Investment Board
• Division/Unit:
  State Board Of Investment(SBI) / Risk Management
• Days of Work:
  Monday
  - Friday
• Travel Required:
  
  Minimal, up to 10%
• Salary Range: $106,592 - $137,369 / Inv Analyst Intermediate $143,821 – $193,871 / Inv Analyst Senior
• Classified Status:
  Unclassified
• Bargaining Unit/Union: 221 - Excluded All Others/Unrep
• FLSA Status:
  Exempt
  - Professional
• Designated in Connect 700 Program for Applicants with Disabilities:
  No

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 Risk Analyst supports enterprise‑wide portfolio risk management and quantitative oversight of all assets under SBI’s management, helping to monitor risk and exposures across asset classes, inform asset allocation and rebalancing decisions, and provide tools and reporting for investment staff and committees.

This role offers a great opportunity for a curious, analytically minded professional to deepen their understanding of global markets, portfolio risk, and long‑term investment strategy by working closely with the Director of Risk Management and portfolio teams. With an emphasis on continued learning, you’ll have meaningful exposure to tools, data, and research, with ongoing opportunities to expand both your market expertise and technical toolkit in a collaborative and entrepreneurial environment.

• Support the quantitative risk management oversight of the total investment portfolio, including market exposures and factor risks across asset classes and strategies.
• Maintain and enhance investment data, spreadsheets, and other tools for both reporting and decision support.
• Assist in the design, production, and enhancement of internal risk reports, including materials for staff and committee meetings.
• Help streamline and automate data aggregation and transformation (e.g., from custodians, managers, consultants, and internal systems), working with IT and/or external data consultants as needed.
• Support portfolio level analysis, including asset allocation policy implementation, portfolio rebalancing, what‑if analysis, and stress‑testing.
• Analyze portfolio liquidity and cash flow forecasts, considering private markets commitment pacing and capital calls/distributions into rebalancing needs.
• Contribute to oversight and analysis of FX hedging, passive management and beta overlay programs.
• Support quantitative due diligence on external investment managers, including exposure analysis, factor/sector breakdowns, and performance diagnostics.
• Participate in ongoing process and system improvements, including evaluation of risk, performance, and data tools to align with industry best practices.

• Education:
  
  Bachelor’s degree in a quantitative or analytical discipline (e.g. Finance, Statistics, Mathematics, Economics, Engineering, Computer Science)
• Experience:
  
  2+ years of relevant experience in investment analysis, risk/performance analytics, or portfolio analytics, preferably with an asset…