1114 Senior Portfolio Manager - Private Equity

Recruitment #PEX-1114-077103

Introduction

Receipt of applications may close at anytime, but not before Friday, September 8, 2017 by 5:00 P.M.
Applicants are encouraged to submit their application immediately.

Appointment Type: This permanent exempt position is excluded by the Charter from the competitive Civil Service examination process and shall serve at the discretion of the Appointing Officer.

The San Francisco Employees’ Retirement System ("SFERS") offers an exceptional opportunity for the right candidates to serve this historic, well established City Department by engaging in interesting and rewarding mission critical work. Established in 1889 as a fund for families and orphans of firefighters and police officers, today the San Francisco Employees’ Retirement System serves more than 58,000 active and retired employees of the City and County of San Francisco and their survivors.

Our Mission

The San Francisco Employees’ Retirement System is dedicated to securing, protecting and prudently investing the pension trust assets, administering mandated benefits programs, and providing promised benefits to the active and retired members of the City and County of San Francisco.

 

SFERS seeks an experienced investment professional for the position of Senior Portfolio Manager (“SPM”) for its private equity portfolio, which includes buyouts, venture capital, growth capital and special situations investments.  Reporting directly to the Director, Private Equity, Managing Director, Private Markets and the CIO, the SPM and the Private Equity team are responsible for the oversight and management of SFERS’ large and growing private equity portfolio. The SPM will have primary responsibility for SFERS’ buyout partnerships and will have the opportunity to help construct and manage a global private equity portfolio through the sourcing, underwriting, execution and active management of global investment partnerships and direct investments.

 

Essential Duties:

  • Source and conduct due diligence on external investment managers and direct investment opportunities to help construct an investment portfolio in accordance with SFERS’ Private Equity strategy and risk-adjusted return objectives for the asset class.
  • Evaluate investment opportunities, including meeting with investment managers to assess their qualifications and track records, conducting reference checks, and identifying any significant issues to be addressed during the course of due diligence.
  • Prepare and present detailed investment recommendations (both written and oral) to the Director, Managing Director, CIO and Retirement Board for review and approval.
  • Review, evaluate and negotiate key partnership terms and legal agreements.
  • Monitor existing Private Equity portfolio, including frequent, direct interaction with SFERS’ investment managers globally.
  • Conduct comprehensive review of the existing investment portfolio and provide recommendations for improvement/optimization.
  • Review and provide recommendations for SFERS’ Private Equity strategies, including the review of appropriate asset class goals and objectives, asset allocation, cash flow forecasting, and investment pacing.
  • Work closely with the Managing Director, Director, and the Private Markets team to prepare and execute Strategic Plan that includes the long-term vision, goals and recommended target sub-strategies and markets for the Private Equity portfolio.
  • Work closely with SFERS’ Private Equity consultant(s) to achieve asset class goals and manage portfolio in accordance with the Strategic Plan.

 

Minimum Qualifications

  1. Possession of a baccalaureate degree from an accredited college or university with major coursework in finance, economics, business administration, accounting, statistics, or related field.
  2. Six years of investment experience with an investment management firm, pension plan, university, endowment, foundation, corporation, family office, or consulting firm.

 

Substitution:

  1. Possession of a graduate degree in Business Administration, Finance, Statistics, Investment Management, Economics or similar field, or possession of the Chartered Financial Analyst (CFA) designation, may be substituted for an undergraduate degree in a different field than described above.
  2. Three years of investment management experience at the Senior Portfolio Manager level or higher with an investment management firm, pension plan, university, endowment, foundation, corporation, family office, consulting firm or other investment institution with at least $1 billion in assets, or seven years of such responsibility with a firm of any size, may substituted for an undergraduate degree in a different field than described above.

Desirable Qualifications:

 

The stated desirable qualifications may be used to identify job finalists at the end of the selection process when candidates are referred for hiring.

  • Meaningful active relationships with leading private equity investment managers.
  • Broad and extensive private markets investment experience.
  • Direct investment experience in private equity investments.
  • Experience and skill in understanding and evaluating sophisticated investment strategies and concepts, as well as global private equity trends and developments.
  • Experience in reviewing, evaluating and negotiating complex partnership and contractual agreements.
  • Ability to work independently as well as in a collaborative, team-oriented environment.
  • Excellent written, oral and interpersonal communication skills, strong attention to detail.
  • Proven ability to build networks and positive working relationships with key internal and external contacts.
  • Excellent judgment, integrity and personal values.
  • Willingness to travel globally up to 20-25% of time.
  • Demonstrated proficiency with Microsoft Excel.
  • Possession of a Master’s degree in business administration, finance or economics and/or a Chartered Financial Analyst (CFA) designation.

How To Apply

Applications for City and County of San Francisco jobs are being accepted through an online process. Visit www.jobaps.com/sf to register an account (if you have not already done so) and begin the application process.

  • Select announcement PEX-1114-077103
  • Select “Apply” and read and acknowledge the information
  • Select either “I am a New User” if you have not previously registered, or “I have Registered Previously”
  • Follow instructions on the screen

Computers are available for the public (from 8:00 a.m. to 5:00 p.m. Monday through Friday) to file online applications in the lobby of the Dept. of Human Resources at 1 South Van Ness Avenue, 4th Floor, San Francisco.

All work experience, education, training and other information substantiating how you meet the minimum qualifications must be included on your application by the filing deadline. Information submitted after the filing deadline will not be considered in determining whether you meet the minimum qualifications. Applications completed improperly may be cause for ineligibility, disqualification or may lead to lower scores. If you have any questions regarding this recruitment or application process, please contact the recruitment analyst, Grace Tam, by telephone at 415-487-7028, or by email at Grace.Tam@sfgov.org.

VERIFICATION:

Applicants may be required to submit verification of qualifying education, experience, and professional license at any point in the application and/or departmental selection process. Written verification (proof) of qualifying experience must verify that the applicant meets the minimum qualifications stated on the announcement. Written verification must be submitted on employer’s official letterhead, specifying name of employee, dates of employment, types of employment (part-time/full-time), job title(s), description of duties performed, and the verification must be signed by the employer. City employees will receive credit for the duties of the class to which they are appointed. Credit for experience obtained outside of the employee’s class will be allowed only if recorded in accordance with the provisions of the Civil Service Commission Rules. Experience claimed in self-employment must be supported by documents verifying income, earnings, business license and experience comparable to the minimum qualifications of the position. Copies of income tax papers or other documents listing occupations and total earnings must be submitted. If education verification is required, information on how to verify education requirements, including verifying foreign education credits or degree equivalency, can be found at http://sfdhr.org/index.aspx?page=456.  

Note: Falsifying one’s education, training, or work experience or attempted deception on the application may result in disqualification for this and future job opportunities with the City and County of San Francisco.

Selection Procedures

Applications will be screened for relevant qualifying experience. Additional screening mechanisms may be implemented in order to determine candidates’ qualifications. Only those applicants who most closely meet the needs of the Agency will be invited to participate in the selection process. Applicants meeting the minimum qualifications are not guaranteed advancement to the interview.

Conviction History

As a finalist for a job, you will be fingerprinted, and your fingerprints will be sent to the California Department of Justice (DOJ) and the Federal Bureau of Investigation (FBI). The resulting report of your conviction history (if any) will be used to determine whether the nature of your conviction (or arrest, in limited circumstances) conflicts with the specific duties and responsibilities of the job for which you are a finalist. If a conflict exists, you will be asked to present any evidence of rehabilitation that may mitigate the conflict, except when federal or state regulations bar employment in specific circumstances, such as:

  • Candidates applying for positions with the Unified School District and the Community College District may be disqualified from consideration should their conviction history not meet the standards established under the California Education Code.
  • Candidates applying for positions with the Recreation and Park Department may be disqualified from consideration should their conviction history not meet the standards established under California Public Resources Code 5164.

Having a conviction history does not automatically preclude you from a job with the City.

If you are selected as a finalist, the hiring department will contact you to schedule a fingerprinting appointment.

Disaster Service Workers

All City and County of San Francisco employees are designated Disaster Service Workers through state and local law (California Government Code Section 3100-3109). Employment with the City requires the affirmation of a loyalty oath to this effect. Employees are required to complete all Disaster Service Worker-related training as assigned, and to return to work as ordered in the event of an emergency.

Conclusion

Reasonable Accommodation Request:
http://www.sfdhr.org/index.aspx?page=20#applicantswithdisabilities

General Information concerning City and County of San Francisco Employment Policies and Procedures:
http://www.sfdhr.org/index.aspx?page=20

Copies of Application Documents:
http://www.sfdhr.org/index.aspx?page=20#copies

Right to Work:
http://www.sfdhr.org/index.aspx?page=20#identification

 

Issued: August 23, 2017
Recruitment No.: 077103
Micki Callahan, Director
Department of Human Resources
Team: RET/GT(415) 487-7028

Benefits

All employees hired on or after January 10, 2009 will be required (pursuant to San Francisco Charter Section A8.432) to contribute 2% of pre-tax compensation to fund retiree healthcare. In addition, most employees are required to make a member contribution towards retirement, ranging from 7.5%-13.25% of compensation. For more information on these provisions, please contact the personnel office of the hiring agency.

For more information about benefits, please click here.

 


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