Pensions - Hedge Fund and Private Credit Investment Officer - SVP

Pensions - Hedge Fund and Private Credit Investment Officer - SVP

Job Title: Hedge Fund and Private Credit Investment Officer (Senior Vice President)

The US Pensions Investment (“USPI”) team is the investment management team that manages and invests the assets of the Plans. The USPI team is responsible for managing Citi’s US Defined Benefit and Defined Contribution retirement plans and advises on the Asset Allocation and Investment strategy for all the International Pension Plans.

The primary responsibility of the Hedge Fund and Private Credit Investment Officer will be the strategic oversight and meticulous management of the US DB Pension Plan’s investments in Hedge Funds and Private Credit. The DB Pension Plan, encompassing assets exceeding $10 billion, allocates a significant percentage of its capital to these asset classes. The core objective of these investments is to achieve superior diversification, enhance portfolio resilience, and generate substantial alpha relative to other asset classes within the broader portfolio.

All existing Hedge Fund and Private Credit allocations are managed through a network of external investment managers. The incumbent will play a pivotal role in the rigorous selection and ongoing monitoring of these managers, working in close collaboration with an independent external advisor to ensure optimal performance and adherence to investment mandates. This position reports directly to the Chief Investment Officer (CIO) of the Plan.

• Portfolio Management Contribution:
  Provide direct and impactful contributions to the strategic direction and operational management of the Hedge Fund and Private Credit portfolios, ensuring alignment with the overall investment objectives of the DB Pension Plan.
• Risk and Return Optimization:
  Actively participate in the comprehensive management of portfolio liquidity, market risk exposure, and liability hedging strategies. This includes a dedicated focus on alpha generation across all sub-portfolios, encompassing the full spectrum of Hedge Fund strategies employed.
• External Manager Engagement:
  Cultivate and maintain robust relationships with external Hedge Fund managers. This involves the active negotiation of Investment Management Agreements (IMAs) and continuous engagement to ensure effective partnership and performance delivery.
• Fee Optimization and Value Creation:
  Engage in diligent negotiation and optimization of fee structures with external managers. Furthermore, spearhead projects aimed at identifying innovative approaches to consistently generate stable alpha returns that surpass established Hedge Fund benchmarks.
• Analytical and Collaborative Leadership:
  Demonstrate proficiency in both individual analytical work and collaborative teamwork. The role requires the ability to partner effectively across various internal teams to proactively identify solutions to complex business inquiries, ensure timely resolution, and independently drive the implementation and execution steps necessary to bring open issues to successful completion.
• Governance and Reporting:
  Fulfill additional duties and functions as directed by the CIO, with a particular emphasis on comprehensive reporting requirements pertaining to Risk Management, Regulatory Compliance, and Internal Audit functions.
• Custodian Interaction:
  Facilitate daily interactions with the Custodian bank to ensure accurate and timely reconciliation of investment transactions, efficient cash management, and seamless asset transfers.
• Due Diligence and Portfolio Oversight:
  Conduct thorough due diligence for all prospective new investments and perform annual reviews for existing allocations. Maintain a dynamic watchlist of managers and present well-researched recommendations for portfolio changes to the CIO and the various Investment Committees.
• Advisor Relationship Management:
  Oversee and manage the critical relationship with the External Hedge Fund Advisor, leveraging their expertise to enhance portfolio performance and risk mitigation.
• Risk Assessment and Compliance:
  Consistently assess risk during all business decision‑making processes, exhibiting an acute awareness…