Managing Director - Public Equities

Company: New York State Teachers Retirement System
Location: Albany
Posted on: February 1, 2025

Job Description:

Apply by: All applications must be submitted by 5:00 pm on Wednesday, January 29th. Applications received after 5:00 pm will not be considered.

Ensure all your application information is up to date and in order before applying for this opportunity.

Position Summary

Reporting to the Executive Director and Chief Investment Officer, the Managing Director of Public Equities is responsible for the System's public equity portfolio. The public equity portfolio represents a target of 52% of total NYSTRS' assets and includes: a) active and passive portfolios, b) internally and externally managed portfolios and c) domestic, international and global portfolios. The position is responsible for performing complex duties requiring a high degree of integrity, expertise and sound judgment.

The Managing Director of Public Equities must align and support the System's investment philosophy and policy objectives including initiatives on diversity, inclusion and ESG. The successful candidate should have broad knowledge of passive and active equity investing approaches, and institutional experience including significant experience in factor-based investing, portfolio construction and asset allocation. An in-depth understanding of global economics and capital markets, equity investment strategies and vehicles, the principles and practices of institutional investing, investment operations, and investment policy development are also required.

This position will require travel which will range from 10% to 15% per year

Minimum Qualifications

A bachelor's degree and ten (10) years professional institutional investment experience, including:

Implementing and managing an internal or external investment management program

Managing, mentoring and developing professional investment staff

Demonstrated success as an active participant of a senior-level professional investment team

Experience making presentations at a Board or Investment Committee level

Preferred Qualifications

Advanced degree in finance, economics, business, statistics or a related or complementary field

CFA Charter holder

Strong technical skills including experience with portfolio optimization tools

Ten plus years of institutional investment management experience and expertise with a demonstrated record of risk controls and performance

Demonstrated experience and belief in systematic and factor-based investment processes

Experience developing, implementing and managing an internal and external investment management program.

Experience with multiple asset classes and asset allocation decisions.

Strong leadership skills, including decision making, risk management, organizational awareness, adaptability, flexibility and professional confidence

Excellent oral, written and listening communication skills

High degree of professionalism, integrity, honesty and ethical behavior

Work Modality

This position is subject to a hybrid work schedule.

Job Duties

The Managing Director of Public Equities is responsible for, but not limited to, the following duties:

Oversee the public equity portfolio with a value of $79.0B at 9/30/2024 and allocation targets of 33% domestic equities, 15% international equities and 4% global equities or 52% of the total NYSTRS' portfolio

Provide leadership, management, supervision, guidance and expertise to the Public Equities team comprised of 16 members across three divisions: (1) Quantitative Strategies and Internal Portfolio Management, (2) Equity Trading and (3) External Portfolio Management

Including management, guidance of and insight into a) index and systematic active strategy development, improvement and implementation, b) manager research, selection and oversight, c) equity trade execution and transaction cost analysis and control, and d) all administrative aspects of operating the Public Equities department

Analyze and implement legal, regulatory, and policy initiatives as appropriate

Provide advice and expertise as a voting member of the Internal Investment Committee (IIC) on all new investments across all asset classes

Along with the Executive Director and Chief Investment Officer coordinate the quarterly Investment Advisory Committee (IAC) meetings. The IAC is a group of outside experts that lead general investment discussions following formal presentations with staff and Board members.

Manage the relationship and coordinate the advice and activities of the Systems general investment consultant

Facilitate and host along with the NYSTRS Executive staff the annual Minority and Women Owned Business Enterprise (MWBE) conference providing guidance on how to do business with NYSTRS

Provide quarterly updates to the Systems Board of Trustees

Travel for manager and broker due diligence, follow-up site visits

Attend conferences in order to network and stay abreast of investment industry developments

Salary Grade

This position is an executive position

Salary Range

$240,000 - $310,000

EEO STATEMENT

At NYSTRS, diversity, equity, and inclusion are integral to our mission of providing our members with a secure pension and exceptional customer service. We are committed to fostering an inclusive and equitable culture where all diversity is valued and recognized as a source of strength and enrichment across all operations.

NYSTRS is proud to provide equal opportunities to all employees and qualified applicants without regard to race, color, religion, creed, sex, gender expression or identity, national origin, age, ability and disability status, veteran status, marital status, pregnancy status, sexual orientation, citizenship, or any other legally protected class. We are committed to being a workplace that attracts, supports, and retains talented individuals from diverse backgrounds and experiences while championing equal opportunity across recruitment, hiring, placement, promotion, termination, layoff, recall, transfer, leaves of absence, compensation and training.

All applications to NYSTRS should be done via our website. NYSTRS will never ask you to submit private information via email or direct you to submit private information to another site as part of our recruitment process.

Keywords: New York State Teachers Retirement System, East Hartford , Managing Director - Public Equities, Executive , Albany, Connecticut