Asset Allocation Specialist recruitment
Under the general direction of a Senior Portfolio Manager, the Portfolio Manager (PM) assists in the management of the asset allocation program. The PM is responsible for conducting a periodic review and analysis of the Investment Policy for Strategic Asset Allocation, as well as other designated aspects of active asset allocation. The PM utilizes a broad and deep knowledge of global capital markets, and provides technical expertise in modeling asset allocation scenarios and investment strategies. The PM is expected to make significant contributions to the team of investment managers reporting to the Senior Investment Officer, Asset Allocation, in developing and recommending policy allocation alternatives designed to meet the long-term liabilities of CalPERS that are also effectively diversified from an expected risk/return framework.
Typical Tasks:
- Lead the design and implementation of the Investment Committee Asset/Liability Management Workshop, currently held triennially;
- Assess the merits of potential new classes of investments and present findings to Senior Staff;
- Research and recommend asset classes or types for possible inclusion in the asset mix;
- Review and suggest improvements to asset class benchmarks;
- Lead specific aspects of CalPERS active asset allocation, to be defined;
- Propose and justify revisions to the Investment Policy for Strategic Asset Allocation;
- Perform and present analysis to the Investment Committee or others as requested by the SIO;
- Collaborate with the CalPERS Actuarial Department and Risk Management Unit, as well as with external consultants and actuaries to research and develop input assumptions (and appropriate tools and models) for asset allocation analysis.
- Prepare agenda items, revise policies, and make presentations to the CalPERS Investment Committee, Board of Administration, and other interested parties;
- Serve as subject matter expert in support of the Senior Investment Officer – Asset Allocation, regarding strategic and tactical asset allocation.
- Oversee the work of other Asset Allocation staff and work on special projects;
- Oversee the external global inflation linked bond manager program, if implemented.