Director Investments

Description Department: Investments

Job Type: Regular Full Time

Education Level: BA/BS

Required Years Experience: 10

Church Pension Group (CPG) is a financial services organization that serves the Episcopal Church, located in Midtown Manhattan. CPG was founded in 1917 to provide pension benefits to eligible clergy of the Episcopal Church.

The Church Pension Group (CPG) depends on investment returns to cover the full cost of the benefits, programs, and services we offer. Professionalism, diversification, and a long-term focus are critical to our success. Our investment professionals bring decades of experience, passion for their work, and diverse perspectives to their shared responsibility of overseeing CPG’s investments. Specialized groups within the team oversee individual asset classes, regional investments, risk, and operations. All this experience informs our work selecting and monitoring outside investment managers and mitigating global investing risks. In building portfolios, we work with experienced external managers rather than selecting specific investments ourselves. We hold these managers to high-performance standards because strong, risk-adjusted returns make all our work possible.

The Risk Director- Investments will bolster the CPG Investment Department’s ability to understand, monitor, and appropriately mitigate the risk inherent in the Church Pension Fund (CPF) portfolio, and to evaluate long-term and short-term tradeoffs between return and risk.

The audience for this work will consist, to varying degrees, of the Head of Risk, the CIO, and the broader Investments Department, and may sometimes include the Investment Committee of the Board of Trustees. Outputs will generally include both qualitative and quantitative elements and may be presented graphically, numerically, or in written form. As such, strong communication skills are essential to the role.

ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties may be assigned.

• Identify and measure sources of risk in the overall portfolio;
• Use capital market assumptions to project portfolio returns and volatility under various circumstances, including through scenario analysis;
• Track liquidity available in the portfolio to meet benefit payments and expenses, including through annual liquidity stress tests;
• Carry out regular rebalancing exercises to keep the portfolio in line with long-term asset allocation topics;
• Monitor leverage at the overall portfolio level and within individual outside managers;
• Conduct look-through analysis of the portfolio to understand holdings on granular level;
• Supervise performance reporting at the asset class and overall portfolio levels.
• Related tasks and responsibilities may be assigned.
• Effective performance of the essential functions of this position requires regular in-person, on-site interaction with colleagues, both for purposes of relationship building and meaningful collaboration.

Qualifications

• Strong ability to work across tech platforms and systems, such as Caissa, Front Office Solutions, Bloomberg, Venn, and LPAnalyst, and an understanding of (or ability to learn) how to tie these systems together and combine data from various sources to answer questions about the portfolio, asset class allocations, and manager holdings.
• Numeracy is a requirement of the position, as is familiarity with broad asset allocation topics and specific bodies of knowledge relevant to pensions, such as futures, options, private investments, and portable alpha programs.
• Close attention to detail and a focus on accuracy
• Ability to recommend and implement process improvements

Education & Experience

• 10 years of relevant experience, preferably including 3 years of work at an institutional asset owner such as a pension fund, endowment, or foundation.
• Prior personnel management experience is strongly preferred.
• BA/BS required, in economics/finance preferred.
• Masters in finance, MBA, CFA, or CAIA designation preferred.

PHYSICAL DEMANDS

Extensive use of a computer keyboard is a demand of the position to perform the essential functions of this job successfully.

Travel may be required but limited. Travel conditions may vary.

WORK ENVIRONMENT

Currently, hybrid work environment, which requires working in CPG’s office Tuesdays through Thursdays and flexibility to work remotely on Mondays and Fridays. Church Pension Group employees must maintain a professional, compassionate, and trustworthy work environment always. Reasonable accommodations may be made to enable someone with a disability to perform the essential functions of the job within this environment.

Salary Range: $200,000 - $225,000

Join us and Create A Better Future For Yourself!

Flexible Benefits Available To Eligible Employees

• Medical (including Vision)
• Dental
• Supplemental Dental

Core Benefits Automatically Provided To Eligible Employees

• Employer funded defined benefit pension plan (five year vesting)
• Employee Life Insurance
• Spouse and Dependent Life Insurance
• Accidental Death and Dismemberment (AD&D) Insurance
• Short-Term Disability (STD) coverage
• Long-Term Disability (LTD) coverage (elected as either pre-tax or after-tax)
• Business Travel Accident Insurance
• Worker’s Compensation
• Employee Assistance Program
• Retiree health insurance (eligible after 10 years)
• Retiree life insurance

Elective Benefits Available To Eligible Employees

• 401(k) with matching contributions (immediate vesting)
• Flexible Spending Accounts (FSAs)
• Commuter Benefits
• New York’s 529 College Savings Program (NY State residents)

Educational Assistance Program available to eligible employees

Maternity/Paternity Leave available to eligible employees

Time Off available to eligible employees: Vacation, Sick, Personal and Holidays

You may also be eligible to participate in a discretionary annual incentive program, subject to the rules governing the program, whereby an award, if any, depends on various factors, including, without limitation, individual and organizational performance.

In compliance with federal law, all persons hired will be required to verify identity and eligibility to work in the United States and to complete the required employment eligibility verification document form upon hire. Please understand that, as a general policy, CPG does not sponsor visas.

EOE: Minorities/Female/Disability/Vet/Sexual Orientation