Director of Fixed Income (Special Investment Officer)

Preferred Qualifications

• Education: BA/BS in related field; MBA, Master’s in Finance and CFA preferred
• Experience: 12-15 years directly with fixed income investment and extensive background with managing investment professionals.
• High ethical standards and commitment to the fiduciary responsibilities of a pension fund.
• Expert knowledge of all aspects of fixed income including valuation metrics, products, financial modeling, institutional fixed income portfolio management (long-term and short-term assets), quantitative analytics, and asset class trends.
• Deep portfolio construction, active management skills and the ability to develop and maintain a long-term, robust investment philosophy, strategy, and process.
• Established leadership in the fixed income space, especially regarding best practices, use of risk, asset allocation and investment performance tools.
• Ability to negotiate effectively with managers and external parties to afford favorable terms for the Fund.
• Demonstrated supervisory skills with the proven ability to coach direct staff and build a team.
• Ability to provide a critical perspective on investments regardless of asset class.
• Aptitude to design a roadmap to continuously improve fixed income strategy and specific investment theses.
• Vision and judgement to enhance the revenue, reputation and relationships of the Fund through actionable insights.
• Excellent written and oral communicator, including the ability to interact/participate and present with the Internal Investment Committee and the Investment Advisory Committee.

Duties

• Under the direction of the CIO and Deputy CIO, the Director of Fixed Income will oversee investment and operations staff managing all aspects of the fixed income portfolio. Occasional travel between the Albany and New York City offices may be required.
• Generate portfolio-wide fixed income investment returns that exceed portfolio benchmarks over a long-term investment horizon while taking advantage of market opportunities and managing portfolio risks through the construction and management of the fixed income portfolio.
• Maintain, implement, and refine a robust investment philosophy, strategy, and process based on nuanced understanding of trends in capital markets and fixed income securities.
• Provide direct leadership, management, and mentorship to the fixed income investment staff.
• Develop and support team capabilities (e.g. analytical skills, investment knowledge) and assist in developing the team’s perspective on fund-wide decisions (e.g., asset allocation).
• Identify and implement improvements in the fixed income team’s security valuation process and other investment projects utilizing advanced quantitative methodologies and forward-looking trend analysis.
• Provide oversight and support of the financial modeling and trading process for individual securities.
• Keep abreast of changes in markets and economic drivers and regularly report to CIO/Deputy CIO with strategies and portfolio opportunities.
• Develop and refine long-term fixed income investment strategy and philosophy.
• Offer input and critiques on investment theses around all asset classes.
• Maintain, collaborate and communicate asset class strategic plans.
• Demonstrate proficiency in various systems (e.g., Bloomberg, BlackRock Aladdin, FactSet, MarketAxess) to actively manage the portfolio, monitor risks/opportunities and report to CIO/Deputy CIO.
• Demonstrable knowledge of public credit and private credit structured financing, non-recourse financing, repo, etc.
• Work with the CIO, Deputy CIO, and other Fund leadership to recommend investment policies and strategic direction for the Fund and provide input on fund-wide decisions (e.g., asset allocation, rebalancing).
• Experience dealing with legal, regulatory and accounting issues.

Additional Comments

Telecommuting

The Office of the New York State Comptroller (OSC) supports telecommuting where it is reasonable to do so based upon the agency’s mission and operational needs. Generally, employees new to OSC will be restricted from telecommuting for at least 8 calendar weeks. After the initial 8 calendar week restriction, if an employee’s primary residence location, duties, and work performance are aligned with telecommuting and operational needs they may be allowed to do so. Generally, OSC employees may telecommute up to 5 days per pay period but may be approved to telecommute less.

Reasonable Accommodation

The NYS Office of the State Comptroller provides reasonable accommodations to applicants with disabilities. If you need reasonable accommodation for any part of the application and hiring process, please notify the Division of Human Resources at (518) 474-1924.

Equal Opportunity Employment

The Office of the NYS Comptroller values a workforce with a broad, diverse range of backgrounds and perspectives. All employees are expected to contribute to a professional environment focused on self-evaluation and improvement, as well as acceptance and support of coworkers.

Some positions may require additional credentials or a background check to verify your identity.

The Office of the State Comptroller (OSC) does not participate in E-Verify and does not sponsor visa applications.

OSC offers competitive salaries and benefits, and opportunities for advancement, continuing education, and professional development. We provide a professional environment where employees are encouraged to push themselves while maintaining work-life balance. Our generous benefits package includes:

• A state pension with vesting after five years’ service
• Comprehensive medical, dental and vision insurance available to all employees and their dependents
• Flexible spending accounts for dependent and health care
• Productivity Enhancement Program (PEP), allowing eligible employees to exchange previously accrued leave in return for a credit to be applied toward their health insurance
• Public Service Loan Forgiveness (PSLF)
• NYS Deferred Compensation plan
• Access to NY 529 and NY ABLE College Savings Programs, and U.S. Savings Bonds
• Holiday and paid time off
• Shift and geographic pay differentials
• A committed continuous learning environment
• Informational Brown Bag sessions
• Wellness at Work Programs to promote employee health and wellness
• OSC Mentoring Program to network, contribute, and provide an opportunity to strengthen competencies in a variety of areas
• And much more