CITY OF PHILADELPHIA PERSONNEL DEPARTMENT
2A72
PENSION SECURITIES INVESTMENT OFFICER
Specialties
( Equities )
(Fixed Income )
GENERAL DEFINITION
This is financial investment work planning, and monitoring and managing either the Board of Pension's fixed income or its foreign and domestic equities investment program. Work includes the review, analysis and monitoring of various portfolios approved by the Board and the review, analysis and monitoring of various portfolio activities managed by contracted investment managers. Work also includes researching various investment instruments, alternatives and markets in the area of specialization, keeping abreast of markets and market changes applicable to the area of investment, and maintaining, supporting and recommending investment strategies to the Pension Board. Contact with investment managers in the area of specialization, investment analysis professional, and pension program administrators, and coordinating the trading activity of external money managers are significant aspects of the work. Work is performed under the direction of the Board of Pensions and Retirement's chief Investment Officer.
ALLOCATING FACTORS: (The following conditions must be met for a position to be allocated to this class.)
- The position must perform the work for the Board of Pensions and Retirement.
- This position must monitor the activities of contracted investment managers in the area of specialization.
- Only one position can be allocated to each specialty in this class.
TYPICAL EXAMPLES OF WORK (ILLUSTRATIVE ONLY)
Both Specialties
- Research the various investment instruments; analyzes the possible results of each specific instrument; evaluates profitability of each instrument, comparing potential profits against degree of risk involved; analyzes current market trends; disseminates information to make determinations as to future trends; keeps abreast of changes in the market that may affect the portfolio; prepares projections on rate of return and accompanying risk levels; develops recommendations for improving the pension fund's long term strategy in the area of specialization; reviews proposals submitted by contracted investment firms and individual money managers.
- Participates in the development of investment goals for the pension program; makes recommendations to the Chief Investment Officer on matters of selection of investment firms and managers, investment management structure, asset allocation, strength of the economy on a micro and macro level, volatility of the investment market, and new and existing investment vehicles; recommends changes in contractual terms or termination of contracts with contracted investment firms, based upon appraisal and analysis of investment results.
- Monitors the performance and contracted investment professionals engaged in investing pension fund assets in any of the revenue producing instruments such as equities, fixed income, and/or venture capital projects; participates in venture capital negotiations; reviews reports concerning investment activity and profitability; evaluates performance against market trends and in relation to other investment professionals in similar investment areas; ensures conformance to required City ordinances involving investment guidelines and restrictions.
- Reviews proposed legislation and assesses its impact on pension asset investment activities; incorporates the effect of changing laws and investment regulations into the investment strategy; attends lectures and seminars on economic, legal and investment practices and issues; consults with city legal representatives, pension administrators of other jurisdictions, and investment advisors on specific program strategies or problems; prepares reports outlining alternatives and possible resolutions of such problems; prepares weekly and monthly economic and performance reports for the internal investment strategy committee.
Equities Specialty
- Oversees the performance and investment strategies of contracted money managers investing in the area of equities, both foreign and domestic, and a nominal amount of venture capital projects; makes recommendations for improving the fund's long term foreign and domestic equities strategy; conducts due diligence on prospective venture capital deals that involve equity investments. Performs related work as required.
Fixed Income Specialty
- Oversees the performance and investment strategies of contracted money managers performing fixed income investment, such as U.S. Treasury bill and notes, corporate bonds, and mortgage backed securities; conducts due diligence on prospective venture capital deals that involve debt-related investment.
REQUIRED KNOWLEDGE, SKILLS AND ABILITIES
KNOWLEDGE OF:
- the principles, practices and techniques used in the investment marketplace.
- the various types of investment markets, vehicles, and strategies in the area of specialization
- economic theories and principles as related to the investment of municipal pension fund assets.
- pertinent factors used in the selection of investment vehicles.
- the sources of investment analysis information.
- the factors affecting the value and investment potential of various instruments and markets.
- the laws, rules, regulations and professional standards regarding the investment of municipal pension funds.
SKILL IN:
- the sourcing of information for investment analysis.
- the analyzing and evaluating financial instruments and strategies in the area of specialization.
- selecting investments that will produce a good rate of return at an appropriate level of risk.
- understanding the economy both on a macro and micro level, and interpreting changes and how they may impact on the investment market in the area of specialization.
ABILITY TO:
- identify and evaluate trends in investment markets and makes recommendations based on those trends.
- make investment selections in the area of specialization based on research and evaluation of the investments.
- understand all aspects of investment management, including security selection, trading, asset custody, etc.
- interpret federal, state, and local legislation as it relates to the investment of pension assets.
- analyze market conditions and proposals for the development of new investment programs and prepare recommendations concerning the viability of such proposals.
- prepare and interpret a variety of financial reports.
- present ideas effectively, both orally and in writing.
- establish and maintain effective working relationships with departmental officials and members of the financial, banking, and legal communities.
MINIMUM ACCEPTABLE TRAINING AND EXPERIENCE (The following statement represents the minimum training and experience standards which will be used to admit or reject applicants for tests. Applications submitted by candidates for this class will be reviewed based on training and experience requirements as approved on 01/05.)
EDUCATION
- Completion of a Bachelor’s Degree program from an accredited college or university with major coursework in business administration, finance, economics, or a closely related field.
AND
GENERAL EXPERIENCE
- Three years experience researching and analyzing investment markets, strategies, and instruments.
AND
SPECIFIC EXPERIENCE
- Two years experience in a financial institution, large corporation, governmental agency or brokerage firm which has included the hands-on management of a portfolio of investments in excess of one hundred million dollars in the area of specialization.
OR
Any equivalent combination of education and experience determined to be acceptable by the Personnel Department that has included the specific experience and the Bachelor’s Degree described above as an educational minimum.
PHYSICAL AND MEDICAL REQUIREMENTS
- Ability to physically perform the duties and to work in the environmental conditions required of
a position in this class.
PAY RANGE: EP22
Class Established: 4/1991
Latest Spec. Revision:
CSC: 9/2004, Ad Board: 1/2005
MH/sb
END OF JOB CLASS SPECIFICATION - 2A72