Investment Officer: Public Markets

It is the mission of the Investment Department to optimize the total return of the IMRF investment portfolio through a policy of long-term diversified investment using parameters of prudent risk management.

This position reports to the Managing Investment Officer-Public Markets and works closely with other Investment Officers and staff.

The Investment Officer-Public Markets will be an integral member of the investment team for a global investment portfolio with assets in excess of $60 billion. The individual will be responsible for a comprehensive understanding of overarching investment principles, with a focus on multiple public market asset classes, which currently include U.S. Equities, International Equities, and Fixed Income. The Investment Officer-Public Markets will be responsible for evaluating, monitoring, and reporting on the activities of the Fund’s public markets investment managers in compliance with IMRF Investment Policy.

This position is also responsible for special projects as assigned and will be responsible for the oversight of the public markets team and associated duties. This position will have contact with the IMRF Board of Trustees, Investment Consultants, Investment Managers, and other investment professionals.

• Manage the public markets program to achieve long‑term performance targets within acceptable risk parameters
• Provide input on the portfolio and implement operational practices in a high‑performance culture.
• Review and approve FOIA responses in relation to public and private markets in compliance with all legal requirements.
• Recommend strategies across the public market asset classes (US equity, International equity and Fixed Income), regarding new investments with existing and new managers.
• In consideration of portfolio diversification, sector weightings, and risk/return profiles, suggest commitment amounts and draft rationale to Managing Investment Officer for new and follow‑on investments
• Conduct due diligence on new and follow‑on investments utilizing research data and software tools (i.e. eVestment, Bloomberg and Fact Set) with quantitative and qualitative analysis, analyzing data collected from on‑site manager meetings and reviewing manager presentations and memos.
• Conduct manager meetings across public markets and prepare prospective and current manager meeting notes in a timely and accurate manner.
• Conduct performance reporting, performance attribution and prepare staff summary on investment opportunities.
• Review performance, financial reports and other documents to monitor the performance of the public markets portfolio on a daily, weekly and quarterly timeframe.
• Assist in the review of the annual asset allocation plan, the Statement of Investment Policy and the triennial ALM study.
• Identify rebalance opportunities (as needed) in the public markets program and assist with transition management.
• Execute any needed changes to investment manager guidelines to better align the manager’s strategies with index and macroeconomic changes and maintain oversight in the development and annual review of public markets investment manager guidelines.
• Assist team with Diversity program in preparing analysis, due diligence, evaluations and proposals for administering diverse and emerging manager investment activity.
• Maintain knowledge of global macro and micro economic conditions and capital markets to justify investment analysis and recommendations.
• Work with Managing Investment Officer, General Counsel, and external counsel to monitor security litigation activities. Provide security transaction data to external counsel upon request and track class action settlements and recoveries.
• Negotiate legal terms governing existing and pending investments.
• Ensure compliance with investment policies and state law.
• Lead and/or participate in public markets manager searches, including creating RFP documents, evaluating RFP candidate documents and responses, conducting due diligence on qualified RFP respondents, creating the RFP search book, and reviewing concerns with legal counsel and the CIO.
• Prepare and present staff memos, manager presentations, and other materials for…