Position Information

NY HELPNo

AgencyState Comptroller, Office of the

TitleDirector of Risk (Special Investment Officer) Item# 06875

Occupational CategoryFinancial, Accounting, Auditing

Salary GradeNS

Bargaining UnitM/C - Managerial/Confidential (Unrepresented)

Salary RangeFrom $192710 to $255340 Annually

Employment Type Full-Time

Appointment Type Contingent Permanent

Jurisdictional Class Exempt Class

Travel Percentage 5%

Schedule

Workweek Mon-Fri

Hours Per Week 37.5

Workday

From 8:30 AM

To 4:30 PM

Flextime allowed? No

Mandatory overtime? No

Compressed workweek allowed? No

Telecommuting allowed? Yes

Location

County To Be Determined

Street Address 59 Maiden Lane

110 State Street

City Albany/New York

StateNY

Zip Code00000

Job Specifics

Duties Description Based in the Albany or New York City office, the Director of Risk will report to the Executive Deputy Comptroller for the New York State and Local Retirement System (NYSLRS) and through their role as Chair of the NYS Common Retirement Fund Risk Committee, serve as an independent advisory function to the Comptroller in connection with CRF enterprise and investment risks.

The Risk Committee will provide guidance, advice, and support to the Director of Risk on organizational and investment risk issues and provide multidisciplinary oversight of risk and risk management programs at the CRF. This oversight function encompasses CRF’s risk oversight of external and internal investment strategies managed by the CRF, and enterprise risks, including, but not limited to, oversight of CRF risk management programs and associated processes, and of compliance with risk standards and policies that affect the ability of the CRF to deliver on its mission to provide NYSLRS members, retirees and beneficiaries with a secure pension through prudent asset management.

Essential Duties and Responsibilities include:

• Advise and make recommendations to the CIO, Risk Committee and the Comptroller on investment risk including, but not limited to, portfolio, market and credit, liquidity, and asset/liability risk.

• Maintain an inventory of risk dashboards to catalogue key risks for the Fund and asset classes (e.g. exposure by sector, scenario analysis, liquidity concerns, counterparty failure) and make recommendations to the Risk Committee for updates and/or the design of new risks reports.

• Chair the CRF’s Strategic Asset Allocation Rebalance Committee and consult with the CIO on changes to and variances from the Strategic Asset Allocation Policy.

• Serve as a member and Chair of the Risk Committee: conduct meetings, prepare agendas and track/monitor various organization, investment and investment-related risk reports (including, but not limited to, securities lending, investment accounting, custody bank, performance, monthly rebalancing activities and work with internal stakeholders (IT, ISO, Internal Audit) to provide consolidated and periodic reporting to the Committee in connection with regular meetings (at least quarterly) to facilitate Committee oversight functions.

• Monitor market risk at the portfolio and manager level across asset classes and undertake risk projects contributing to the development of risk assessment infrastructure.

• Collaborate with the Risk Committee and Risk staff to:

o Consult and advise the CIO and Comptroller on CRF’s Risk Appetite Statement.

o Ensure continued success of risk management system.

o Provide input on major fund-wide decisions, lead the implementation of a systematic risk taxonomy and oversee risk monitoring to ensure enforcement of risk policies.

• Review and develop necessary updates to the Investment Risk Policy Manual; contribute to the implementation of risk policies and procedures.

• Develop peer-to-peer relationships with stakeholders including senior investment professionals, risk consultants, external investment managers, and industry organizations.

• Provide direct leadership, management, and mentorship to the risk investment officers.

Minimum Qualifications • Bachelor’s degree in business, finance, economics, or similar quantitative field.
• CFA, MBA, Master of Science in Finance, or equivalent advanced degree/certification preferred.
• At least ten (10) years of:
o financial risk management experience, preferably in an institutional investor role; or
o professional experience in a financial services organization, handling complex financial transactions/matters with exposure to asset management (fixed income, private equity, public equities); or
o actuarial science experience, preferably in an institutional investor role, with a specialization in Risk Management and/or Investments; and
o leadership experience, including managing and developing staff.
• Knowledge and experience with prevailing asset management software systems Experience conducting portfolio risk and performance attribution analysis; running simulations for projections leveraging concepts like Monte Carlo simulations.

Additional Comments Preferred Qualifications/Knowledge, skills, and abilities:

• High ethical standards and commitment to the fiduciary responsibilities of a public pension fund.
• Expert knowledge of modern portfolio theory, capital markets, stress test modeling, investment risk management tools, investment portfolio mechanics, and general knowledge of both public and private asset classes.
• Demonstrated skill in analyzing and recommending portfolios that meet specific risk and return objectives.
• Ability to take output from risk-related analyses and communicate clear and persuasive guidance to asset classes on how to mitigate identified risks effectively.
• Ability to contribute to risk discussions on market, operational, and other risks to diligence investments.
• Experience building visualizations or reporting using current reporting and dashboard technologies
• Experience with scripting to manipulate data points
• Excellent written and oral communicator, including the ability to interact with the Risk Committee and Internal Investment Committee, build consensus around specific risks and instill confidence.
• Team player energized by a collaborative working environment.

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.

The Office of the State Comptroller does not participate in E-Verify or 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

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

How to Apply

Name Brittany Pebler

Telephone (518) 474-1924

Fax (518) 486-6723

Email Address Jobs@osc.ny.gov

Address

Street Office of the New York State Comptroller, Division of Human Resources

110 State Street, 12th Floor

City Albany

State NY

Zip Code 12236

 

Notes on ApplyingSubmit a clear, concise cover letter and resume stating how you meet the minimum qualifications for this title. To apply, copy and paste the following link into your browser:
https://gen-oscstateofny-prd.inforcloudsuite.com/hcm/xmlhttp/shorturl.do?key=JZ

Reference Item #06875-BEP on your cover letter for proper routing.

Unofficial transcripts and/or templates will be required for certain positions. Documents must be sent as unlocked and accessible attachments.
If you have questions about this vacancy, please contact this Division representative:
Division Contact: Shari Burnett
Email Address: sburnett@osc.ny.gov