Associate Investment Analyst II

Associate Investment Analyst II

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.

Essential Duties and Responsibilities

Portfolio Monitoring and Investment 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.

Private Markets Data and Manager Monitoring

• 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.

Investment Operations and Cash Management

• 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 investment-operations roles as needed.

Investment Manager Administration

• Support the onboarding of private-markets investment managers and accounts by coordinating with IMRF's master trustee and investment managers.
• Prepare, distribute, track, and maintain account-opening documentation and other required onboarding materials.
• Prepare welcome packets and related communications for newly approved investment managers.
• Lead and coordinate the annual investment-manager certification process.
• Update certification documents; distribute annual certification materials to investment managers, consultants, and the master trustee; monitor completion; review responses; identify exceptions or issues; and communicate findings to Investment Staff.
• Maintain complete, organized electronic records of certifications, manager documents, correspondence, and related materials on the IMRF LAN.
• Lead the collection, analysis, and reporting of investment-manager brokerage data.

Compliance, Governance, and Regulatory Reporting

• Distribute quarterly compliance requests to Investment Staff, review submitted materials, follow up on missing or incomplete responses, and prepare compliance memoranda for the Chief Investment Officer.
• Lead the collection, analysis, and preparation of information for government, legislative, regulatory, and other required reports, including the Illinois Economic Report, Governor's Diversity Report, Senate hearing materials, and similar requests.
• Assist with maintaining documentation, records, schedules, and supporting materials necessary for investment-program oversight, compliance, audit, and governance requirements.
• Identify data discrepancies, incomplete documentation, process-control issues, and reporting exceptions; elevate material matters to appropriate Investment Staff or management.

Investment Team Support

• Assist with investment-manager searches, including RFP preparation, advertising, document management, scheduling, interview coordination, manager-evaluation support, and related due-diligence activities.
• Serve as backup for preparation of weekly staff meeting reports covering assigned public- or private-markets asset classes.
• Participate in investment-team meetings, manager meetings, training, and cross-functional projects.
• Work collaboratively with Investment Staff and service providers to develop, document, and implement efficient operational practices and strong internal controls.
• Perform other duties and special projects as assigned by the Chief Investment Officer and Managing Investment Officer II Diversity Programs & Total Portfolio.
• Mentor and train student interns.
• Represent the Investment Department, as needed, at internal meetings.
• Represent IMRF positively as a thought leader within the Investment Industry.
• Foster a positive culture in support of our Values and individual accountability.
• Support achievement of the organization's Journey of Excellence, Vision, and Strategic Objectives.

All Analysts will also be cross trained to perform all of the tasks and must be familiar with all aspects of Investment Department Operations. These tasks may include but are not limited to assignments in real estate; alternative investments; security lending; portfolio guideline compliance reviews; proxy voting; total fund and individual portfolio manager performance reviews; preparation of annual investment reports; and other projects as assigned by management. Note: The duties are subject to change, without notice, at the discretion of management.

This job has no supervisory responsibilities.

Qualifications

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Education and/or Experience

• Bachelor's degree in finance, economics, accounting, business administration, or a related field of study.
• A minimum of two years' institutional investment experience is preferred.
• Knowledge of investment operations, institutional investment reporting, portfolio analytics, pension investment administration, public and private markets operations, or a related area is preferred.
• Knowledge of public and private-market investment structures, capital calls, distributions, NAV reporting, manager fees, performance reporting, and portfolio cash-flow processes is preferred.
• Proficient Microsoft Excel, PowerPoint, Word, and data-management skills.

Other Competencies Required

• Ability to think critically about manager performance
• Strong analytical and problem-solving skills
• Strong organizational skills, attention to detail and sound judgment
• Ability to establish positive working relationships demonstrating integrity and respect.

Illinois Municipal Retirement Fund (IMRF)