Associate Investment Analyst II

Internal applicants must apply by 9/4/2026!

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 II
- Diversity Programs & Total Portfolio.

The Associate Investment Analyst II will be an integral member of the Investment Team overseeing a total global investment portfolio with assets in excess of $60 billion. The Analyst will be responsible for evaluating and analyzing various aspects of investments across the total portfolio, which currently include U.S. Equities, International Equities, Fixed Income, Real Assets and Alternatives. The Analyst supports the monitoring, administration, reporting and operational execution of IMRF’s public and private markets investment programs.

The position is responsible for aggregating and analyzing investment data; coordinating portfolio performance, cash flow, compliance, and regulatory reporting; processing investment transactions and manager-related documentation; and supporting investment manager due diligence, onboarding, and oversight in compliance with IMRF’s Statement of Investment Policy. This position is also responsible for special projects as assigned. The Associate Investment Analyst II works closely with Investment Staff, investment consultants, the custodian, external investment managers, and other service providers.

The role contributes to a high-performance investment culture through accurate, timely and well-controlled and well-documented investment operations and reporting.

• Assist in monitoring IMRF’s public and private markets programs to support long-term performance objectives within approved risk parameters.
• Review financial reports, investment manager materials, portfolio information, and other relevant documents to monitor investment performance, exposures, allocations, commitments, and activity.
• Aggregate, validate, analyze, and present investment data from multiple internal and external sources.
• Lead the preparation of investment-related PowerPoint presentations, reports, dashboards, and other materials for Investment Staff, senior leadership, the Board of Trustees, consultants, and external reporting purposes.
• Coordinate with the investment consultant on the preparation, review, and distribution of monthly and quarterly performance reports and presentations.
• Prepare and maintain monthly and quarterly schedules of asset-allocation activity for performance reporting.
• Prepare and distribute daily market-value communications and asset-class breakdowns to the Chief Investment Officer and internal Staff.
• Prepare and send monthly and quarterly performance reconciliation letters for public-markets investment managers.
• Update the Investments website with quarterly asset-allocation, investment-performance, and other relevant investment-program information.
• Assist with preparation of investment information and supporting schedules for the IMRF Annual Comprehensive Financial Report.

• Upload, review, reconcile, and analyze private markets investment data through eVestment TopQ and other applicable systems and sources.
• Assist Investment Staff with monitoring and due diligence of private equity, private credit, real assets, and other private-markets investments.
• Maintain private-markets net asset value spreadsheets, commitment schedules, investment-manager allocation records, and related portfolio-monitoring documentation.
• Track approved investment-manager allocations, commitments, capital activity, and other relevant investment terms.
• Perform daily cash-flow reconciliation for private-equity separate accounts and weekly private markets cash-activity reports.
• Process capital call and distribution notices for private-markets managers using Northern Trust’s Trade Order Entry system.
• Attend existing and prospective investment-manager meetings with Investment Staff; assist in preparing meeting notes, summaries, and supporting materials.

• Perform daily cash-flow account reconciliation and assist with cash-flow forecasting and liquidity projections.
• Process Northern Trust Web Cash Movement entries for public-markets investment-manager fees.
• Maintain accurate records and spreadsheets of investment-manager fees paid.
• Coordinate with the custodian and other service providers on investment-operational matters, including non-U.S. proxy materials, foreign-exchange transactions, powers of attorney, global-markets documentation, and international investment documentation.
• Prepare, coordinate, and maintain foreign and international tax filings, invoices, registrations, and related documents according to established schedules.
• Provide backup coverage for investment processes, systems, asset classes, and…