Msrp-Investment Associate – Multiple Vacancies Investment Associate MSRP

Introduction

The Maryland State Retirement Agency is the administrator of the Maryland State Retirement and Pension System (“System”). The System is a defined benefit retirement system covering governmental employees within the State of Maryland. It’s composed of twelve (12) separate retirement and pension systems with over 50 different rule sets. The System has over 430,000 participants (customers), including 192,000 members who are actively employed and participating in the System, 165,000 payees who receive a monthly payment from the System, and 40,000 vested members who are no longer actively employed but have earned a benefit that will become payable at a future date.

120

E. Baltimore St., Baltimore, MD 21202

MSRP 0006

Note:

We have multiple positions available in this classification within the Investment Division. The primary purpose, specific duties and preferred qualifications may vary for each role, but all are considered entry level investment positions.

The main purpose of this position is to contribute to the decision‑making process and to support investment’s staff derivatives trading. The position reports to the Director and Managing Director of Investment Administration and Operations in carrying out responsibilities required.

• To implement the tasks and outcomes required to support investment transactions with respect to investment administration and operations including cash management and internal trading.
• Perform analysis of the derivatives’ profit or loss. To ensure that the integrity of the established investment administration and operations framework is maintained that policies and procedures are implemented as intended, and that an awareness of the rules, laws, and regulations exists.
• Perform all tasks in support of the System’s listed and over-the-counter (OTC) derivatives trading including analytical and other work in support of the decision-making process.
• Provide valuations to relevant stakeholders. Reconcile performance of the derivatives vs that of the System’s counter parties and System’s custodian.
• Manage System’s risk vs System’s derivatives’ counter parties.
• Ensure timely accuracy and integrity of all relevant data within all relevant systems. Monitor and aggregate AANA and UMR related data.
• Monitor and advise investment staff of requisite actions during life‑cycle of each derivatives’ position or related positions.
• Ensure efficient flow of relevant derivatives data across all systems. Work with System’s IT staff and that of counter parties, custodians and vendors.
• Serve as an SME on negotiated terms with each counter party or FCM.

The specific duties include but are not limited to:

• Determine and execute which collateral to post for certain derivative transactions.
• Manage collateral portfolio to ensure securities within the collateral portfolio are eligible.
• Perform analysis of the derivatives’ profit or loss.
• Calculate System’s all related to derivatives positions. Monitor agreed to thresholds. Manage collateral. Provide instructions, communicate notices, work with Investment Operations team to execute required cash, non‑cash movements, or substitutions of collateral securities.
• Establish a process of collateral management life cycle by collaborating with custodian and the investment division working toward internalization of collateral management.
• Compare various collateral management avenues and present them to senior stakeholders.
• Create a process to manage and track collateral across derivative portfolios.
• Research and update processes based on research.
• Manage securities’ lending eligibility status of counter parties posted collateral. Advise investment staff of any cash or non‑cash collateral changes.
• Manage relationships with counter parties, their custodians, mid and back offices.

• Calculate performance (e.g. pair trades, directional trades etc.).
• Provide valuations to custodians, counter parties and other stakeholders as needed.
• Work with System’s custodian and collaborate with internal Risk Management and Compliance on all aspects of derivatives trading including control measures.