What are the responsibilities and job description for the DIRECTOR, INVESTMENT ADMINISTRATION & OPERATIONS PROGRAM MANAGER III position at State of Maryland?
Introduction
The Maryland State Retirement and Pension System (System) administers survivor, disability and retirement benefits on behalf of almost 414,000 members. These include active and former State employees, teachers, State police, judges and law enforcement. Our mission is to ensure that sufficient assets are available to fund the benefits when due, and to provide a fully funded retirement system that is affordable to all participating employers and provides guaranteed adequate disability, survivor and retirement benefits to our members.
The Investment Division is a 50-member team within the System that is responsible for implementing and managing the defined benefit investment program. The team manages investments internally and partners with external firms to manage a globally diversified portfolio that includes public equity, fixed income, credit, absolute return, real assets and private equity. Total plan assets were $70.4 billion as of 9/30/24.
During the probationary period, this position will work 100% at the office of the Maryland State Retirement Agency. After the probationary/training period, and at the discretion of the Unit Director, this position may be eligible to telework two days per week.
Why You’ll Love Working Here
21
LOCATION OF POSITION
120 E. Baltimore Street
12th Floor
Baltimore, MD 21202
Main Purpose of Job
The Maryland State Retirement and Pension System is seeking an exceptional individual to serve as Director of Investment Operations within its Investment Division. The Director of Investment Operations will oversee the day-to-day administrative and operational functions of the investments division.
This is a Management Service position, and serves at the pleasure of the Appointing Authority.
POSITION DUTIES
Leads the Investment Operations Team.
Collaborates with and supports initiatives from the CIO and the DCIO’s.
Partners with the internal stakeholders on how best to integrate investment process to achieve the Agency’s goals.
Works with team members to develop resiliency in investment operation and succession plans for each position held.
Oversees the ongoing development and implementation of tools to efficiently receive, evaluate and monitor inquiry from vendors and internal managers related to cash management, settlements, transfer of funds, and performance.
Develops and maintains lists for providing solutions and issues that arise from the day-to- day operational activities.
Facilitates research in the investment management process to identify the most effective avenue to process derivatives, new accounts, reconciliations, and vendor activities, etc.
Coordinates with asset class teams and the investment operation team to execute improvement opportunities, leading the team to a world class investment operation.
Continuously reviews the investment operations to be ready for internal management of public and private assets.
Actively supports special projects such as system and IT implementation, and potential business requests from various investment groups, accounting, compliance, risks, administration, and the Board of Trustees.
Minimum Qualifications
Education : Bachelor’s degree from an accredited four-year college or university.
Experience : Five years of professional experience in investment management operations or a similar field such as Accounting, Auditing, Finance, etc., and three years of supervisory experience.
Note : Ten years of relevant experience may be substituted for the required education
Desired Or Preferred Qualifications
A CFA and/or CPA designation.
A bachelor’s or advanced degree in Accounting, Finance, Business Administration or similar field of study.
An additional five years of relevant experience will be considered in lieu of an advanced degree.
Special Requirements
Due to the confidential nature of the work, selected candidates must undergo and pass a background check.
SELECTION PROCESS
Please make sure that you provide sufficient information on your application to show that you meet the qualifications for this recruitment. All information concerning your qualifications must be submitted by the closing date. We will not consider information submitted after this date. Successful candidates will be placed on the eligible (employment) list for at least one year.
EXAMINATION PROCESS
The evaluation may consist of a rating of your education, training, and experience related to the requirements of the position. It is important that you provide complete and accurate information on your application. Please report all experience and education that is related to this position.
Benefits
STATE OF MARYLAND BENEFITS
FURTHER INSTRUCTIONS
Online applications are highly recommended. However, if you are unable to apply online, the paper application, supplemental questionnaire, resume and cover letter may be submitted to: Department of Budget and Management, Recruitment and Examination Division, 301 W. Preston St., Baltimore, MD 21201. Paper application materials must be received in our office by the closing date for the recruitment. No postmarks will be accepted.
For questions regarding this recruitment, please contact the DBM Recruitment and Examination Division at Application.Help@maryland.gov or 410-767-4850, MD TTY Relay Service 1-800-735-2258.
We thank our Veterans for their service to our country.
People with disabilities and bilingual candidates are encouraged to apply.
As an equal opportunity employer, Maryland is committed to recruitment, retaining and promoting employees who are reflective of the State's diversity.
The Maryland State Retirement and Pension System (System) administers survivor, disability and retirement benefits on behalf of almost 414,000 members. These include active and former State employees, teachers, State police, judges and law enforcement. Our mission is to ensure that sufficient assets are available to fund the benefits when due, and to provide a fully funded retirement system that is affordable to all participating employers and provides guaranteed adequate disability, survivor and retirement benefits to our members.
The Investment Division is a 50-member team within the System that is responsible for implementing and managing the defined benefit investment program. The team manages investments internally and partners with external firms to manage a globally diversified portfolio that includes public equity, fixed income, credit, absolute return, real assets and private equity. Total plan assets were $70.4 billion as of 9/30/24.
During the probationary period, this position will work 100% at the office of the Maryland State Retirement Agency. After the probationary/training period, and at the discretion of the Unit Director, this position may be eligible to telework two days per week.
Why You’ll Love Working Here
- Collegial, team-based atmosphere.
- Hybrid working environment.
- Opportunities for growth and career development.
- Interesting and meaningful work.
- Team player.
- Strong analytical and critical thinking skills.
- Passion for quantitative and qualitative analysis.
- Strong written and verbal communication skills
- Ability to build relationships.
- High degree of intellectual curiosity.
- Strong interest in a results-oriented investment environment
21
LOCATION OF POSITION
120 E. Baltimore Street
12th Floor
Baltimore, MD 21202
Main Purpose of Job
The Maryland State Retirement and Pension System is seeking an exceptional individual to serve as Director of Investment Operations within its Investment Division. The Director of Investment Operations will oversee the day-to-day administrative and operational functions of the investments division.
This is a Management Service position, and serves at the pleasure of the Appointing Authority.
POSITION DUTIES
Leads the Investment Operations Team.
Collaborates with and supports initiatives from the CIO and the DCIO’s.
Partners with the internal stakeholders on how best to integrate investment process to achieve the Agency’s goals.
Works with team members to develop resiliency in investment operation and succession plans for each position held.
Oversees the ongoing development and implementation of tools to efficiently receive, evaluate and monitor inquiry from vendors and internal managers related to cash management, settlements, transfer of funds, and performance.
Develops and maintains lists for providing solutions and issues that arise from the day-to- day operational activities.
Facilitates research in the investment management process to identify the most effective avenue to process derivatives, new accounts, reconciliations, and vendor activities, etc.
Coordinates with asset class teams and the investment operation team to execute improvement opportunities, leading the team to a world class investment operation.
Continuously reviews the investment operations to be ready for internal management of public and private assets.
Actively supports special projects such as system and IT implementation, and potential business requests from various investment groups, accounting, compliance, risks, administration, and the Board of Trustees.
Minimum Qualifications
Education : Bachelor’s degree from an accredited four-year college or university.
Experience : Five years of professional experience in investment management operations or a similar field such as Accounting, Auditing, Finance, etc., and three years of supervisory experience.
Note : Ten years of relevant experience may be substituted for the required education
Desired Or Preferred Qualifications
A CFA and/or CPA designation.
A bachelor’s or advanced degree in Accounting, Finance, Business Administration or similar field of study.
An additional five years of relevant experience will be considered in lieu of an advanced degree.
Special Requirements
Due to the confidential nature of the work, selected candidates must undergo and pass a background check.
SELECTION PROCESS
Please make sure that you provide sufficient information on your application to show that you meet the qualifications for this recruitment. All information concerning your qualifications must be submitted by the closing date. We will not consider information submitted after this date. Successful candidates will be placed on the eligible (employment) list for at least one year.
EXAMINATION PROCESS
The evaluation may consist of a rating of your education, training, and experience related to the requirements of the position. It is important that you provide complete and accurate information on your application. Please report all experience and education that is related to this position.
Benefits
STATE OF MARYLAND BENEFITS
FURTHER INSTRUCTIONS
Online applications are highly recommended. However, if you are unable to apply online, the paper application, supplemental questionnaire, resume and cover letter may be submitted to: Department of Budget and Management, Recruitment and Examination Division, 301 W. Preston St., Baltimore, MD 21201. Paper application materials must be received in our office by the closing date for the recruitment. No postmarks will be accepted.
For questions regarding this recruitment, please contact the DBM Recruitment and Examination Division at Application.Help@maryland.gov or 410-767-4850, MD TTY Relay Service 1-800-735-2258.
We thank our Veterans for their service to our country.
People with disabilities and bilingual candidates are encouraged to apply.
As an equal opportunity employer, Maryland is committed to recruitment, retaining and promoting employees who are reflective of the State's diversity.
