Bureau/Division: Executive/Bureau of Asset Management
Period: January 17, 2020 – Until filled
The New York City Comptroller’s Office Bureau of Asset Management is responsible for oversight of the investment portfolios of the New York City Retirement Systems (Systems). This $208 billion portfolio is managed primarily by external investment managers and is largely invested in publicly traded securities with significant allocations to private equity, real estate, infrastructure, hedge funds, and alternative credit.
The Chief Risk Officer will utilize a variety of systems to assess, monitor and report on financial and enterprise risk, and will participate in the oversight of overall asset allocation recommendations. The Chief Risk Officer will enhance and implement the enterprise risk management strategy, assist in the evaluation of external investment managers and consultants, and ensure that the risk management program meets the needs of the Systems and the Comptroller.
Reporting to the Comptroller and working with the Chief Investment Officer, responsibilities of the position include, but are not limited to, the following:
Enhance and implement the enterprise risk management strategy;
Manage the Risk Management team;
Participate in the review and recommendation of asset allocation, portfolio rebalancing and other investment functions;
Analyze portfolio risks using complex quantitative models to identify and review implications of investment decisions on total portfolio risk;
Review system-generated scenario analyses and stress tests for the portfolio;
Prepare reports and make presentations to senior management and the Systems regarding portfolio risks and other issues;
Using the Enterprise Risk Register, identify and track risks within BAM that require remediation including operational and reputational risks;
Work with Internal Auditor and Chief Compliance Officer on issues requiring shared oversight of pension fund risks and make periodic presentations to the Comptroller; and,
Perform related assignments or special projects as may be required.
MINIMUM QUALIFICATION REQUIREMENTS
Graduate degree from an accredited university in economics, finance, business, or a closely related field, and seven (7) or more years of progressively responsible full-time professional experience in a financial services organization with over $50 billion in assets with progressively increasing responsibility in a risk management positions, or similar experience at a consulting, strategic advisory or government entity or closely related area, with at least eighteen (18) months or more in a managerial, administrative, or supervisory capacity. Supervision must have included supervising staff performing professional work in the areas described above; or,
BA/BS degree from an accredited college and ten (10) or more years of progressively responsible experience in a financial services organization as described in “1” above, including at least eighteen (18) months of managerial, administrative or supervisory experience as described in “1” above.
PREFERRED SKILLS IN ADDITION TO MINIMUM QUALIFICATIONS
Experience with using common industry risk platforms such as MSCI/BarraOne, FactSet or Aladdin;
Chartered Financial Analyst Certification (CFA) or equivalent;
Excellent interpersonal, communication, report writing and organizational skills