Class Code: 00839

IOWA DEPARTMENT OF ADMINISTRATIVE SERVICES –

HUMAN RESOURCES ENTERPRISE

ASSISTANT CHIEF INVESTMENT OFFICER

DEFINITION

Under general direction, assists the Chief Investment Officer in the administration of the Iowa Public Employees Retirement System (IPERS) investment programs; performs related work as required.

The Work Examples and Competencies listed are for illustrative purposes only and not intended to be the primary basis for position classification decisions.

WORK EXAMPLES

Assists the Chief Investment Officer in administering the investment program of IPERS in accordance with the System’s Investment Policy and Goal Statement and with applicable State and Federal laws in such a manner as to maximize the interest earning capabilities of the trust fund monies; responds to legislative and media inquiries; makes formal presentations to legislative bodies regarding the System’s investment policies and programs.

Recommends, develops and implements significant elements of the IPERS investment program, in accordance with existing and developing investment concepts; negotiates and oversees the preparation and execution of legal contracts with external vendors; manages the working relationship of various investment managers and consultants currently under contract with IPERS; meets with various existing investment managers and consultants and evaluates the success of current investment relationships.

Analyzes and critiques potential investment opportunities and investment managers and consultants for utilization by IPERS; researches a variety of financial managers and consultants material to determine the applicability of the opportunities; oversees the evaluation of state investment proposals and the preparation of related reports to the Investment Board; participates as a member of joint Investment Board/staff committees to evaluate and recommend retention of new investment advisors and consultants; makes presentations, provides advice, and prepares regular and special reports to the IPERS Investment Board.

Assists the Chief Investment Officer by coordinating the implementation of management goals and objectives; plans staffing needs; recommends various personnel actions; evaluates the performance of general work activities related to organizational goals and to costs and general utilization; develops and interprets internal policies and procedures related to the work of the investment staff; and coordinates implementation of these goals and objectives with other staff.

Oversees the corporate governance and proxy voting program; approves revisions to the annual proxy voting policy and guidelines; reviews and approves recommendations from staff regarding individual proxy votes which are not proscribed by the voting guidelines.

Represents the IPERS investment program at various industry, regional or national meetings pertaining to the System’s investment programs.

COMPETENCIES REQUIRED

Knowledge of state and federal laws, regulations, standards, and policies governing public retirement systems.

Knowledge of investment principles, practices and procedures including, but not limited to, stock and bond portfolio management.

Knowledge of the role of actuarial concepts in funding retirement plans and providing for payment of promised benefits.

Knowledge of the principles of administration and management including such areas as budgeting, organization, planning, coordination, and personnel.

Ability to foster a team spirit and the creation of a collegial work environment.

Ability to establish program objectives or performance goals and to assess progress toward their achievement.

Ability to coordinate the work activities of investment program with other managers and staff of the Department, and to deal effectively with persons with divergent backgrounds, interests, and points of view.

Ability to apply a wide variety of knowledge about investment concepts, practices and vehicles in the design and administration of a public pension system investment program.

Ability to research and analyze viewpoints and facts and draw conclusions based upon same.

Ability to edit written material for content and composition.

Ability to deal with multiple complex projects and assignments in a timely and accurate fashion.

Ability to adjust to work pressures, change and difficult situations impacting people or groups without unusual stress reactions.

Ability to coordinate investment program activities with a variety of external service contractors, an advisory body and internal staff.

Ability to travel to meet with current and prospective investment advisors and attend seminars and conferences to maintain current knowledge of investment concepts and vehicles.

Displays high standards of ethical conduct. Exhibits honesty and integrity. Refrains from theft-related, dishonest or unethical behavior.

Works and communicates with internal and external clients and customers to meet their needs in a polite, courteous, and cooperative manner. Committed to quality service.

Displays a high level of initiative, effort and commitment towards completing assignments efficiently. Works with minimal supervision. Demonstrates responsible behavior and attention to detail.

Responds appropriately to supervision. Makes an effort to follow policy and cooperate with supervisors.

Aligns behavior with the needs, priorities and goals of the organization.

Encourages and facilitates cooperation, pride, trust, and group identity. Fosters commitment and team spirit.

Expresses information to individuals or groups effectively, taking into account the audience and nature of the information. Listens to others and responds appropriately.

EDUCATION, EXPERIENCE, AND SPECIAL REQUIREMENTS

Graduation from an accredited four year college or university with major course work in business administration, finance, investments or accounting, and the equivalent of five years of full-time professional investment experience for a pension fund, stock exchange, investment or banking firm or other public or private institutional investor;

OR

experience of the type indicated above may be substituted for the required college education on the basis of one year of full-time qualifying experience is equivalent to thirty semester hours of college course work;

OR

successful completion of each level of the chartered financial analyst examination may be substituted for one year of the required experience to a maximum of three years;

OR

graduate education from an accredited college or university with major course work in finance or investments may be substituted for the required experience on the basis that thirty semester hours is equivalent to one year of experience. However, applicants must have a minimum of two years of the required experience.

Effective Date: 7/95 GR