The New York City Comptroller’s Office works to promote the financial health, integrity, and effectiveness of New York City government, in order to strengthen trust, secure a thriving future for all New Yorkers, and build a more just, equitable, and resilient city. Led by an independently elected citywide official, the comptroller’s office provides checks and balances needed to hold City government accountable for budgeting wisely, investing responsibly, operating efficiently, acting fairly, living up to its obligations and promises, and paying attention to the long-term challenges we face together. The Bureau of Asset Management is responsible for oversight of the investment portfolios of the five New York City pension systems. Through a culture of collaboration, individual development, and teamwork that leverages diverse talent and strives for continuous improvement, the goal of the Bureau of Asset Management is to achieve exceptional investment outcomes for all stakeholders; to deliver outstanding support to plan Trustees; and to serve as a responsible steward of the resources of plan beneficiaries and the City of New York. The Asset Class Head will lead a team of investment professionals who source, evaluate and recommend Private Equity opportunities alongside the Systems Consultants for consideration by the Systems Trustees. The Asset Class Head is also responsible for the continuous monitoring, performance assessment and overall oversight of the Private Equity portfolio. The Asset Class Head reports to the Chief Investment Officer. Under the supervision of the Chief Investment Officer, responsibilities include, but are not limited to, the following: Manage the Private Equity team of investment professionals whose role is to: • Identify, review and evaluate prospective new and follow-on investment opportunities; conducting due diligence on investment opportunities and in doing so work with Systems' specialty consultants. • Perform technical & quantitative analyses of track records & summarize due diligence findings in recommendation memorandum for internal Investment Committee and Boards of Trustees; • Prepare and present investment recommendations to internal Investment Committee and Boards of Trustees; • Monitor and manage the portfolio of existing investments; analyzing the performance of existing investments; conducting financial and technical analyses; preparing presentations used in the annual implementation and strategic plans; • Review legal documents and assist the investment team, legal team, and external consultants in negotiating terms and conditions of new investment agreements and other related contracts; • Review and make recommendations on amendment requests, consent notices, and other contract changes; participating in limited partner advisory committee meetings, annual meetings and quarterly update calls; writing investment update reports, briefing memorandum and meeting summaries; • Work with the Retirement Systems Consultant to design and implement the annual Private Equity investment plans for the Retirement Systems; • Perform related assignments or special projects as may be required.
Minimum Qualifications: 1. Graduate degree from an accredited university in economics, finance, business, or a closely related field, and ten (10) or more years of progressively responsible full-time professional experience in a financial services role with over $25 billion in assets with progressively increasing responsibility, or similar experience at a consulting, strategic advisory or government entity or closely related area, at least eighteen (18) months or more of this experience must have been in a managerial, administrative, or supervisory capacity. Supervision must have included supervising staff performing professional work in the areas described above; or, 2. BA/BS degree from an accredited college and twelve (12) or more years of progressively responsible experience in a financial services organization as described in “1” above, including at least eighteen (18) months of managerial, administrative or supervisory experience as described in “1” above; or, 3. A satisfactory equivalent of education and experience mentioned above.
Preferred Skills: - Prior experience as a senior investor in the Private Equity space. - Expert knowledge of financial principles and concepts used in the underwriting and valuation of Private Equity partnerships. - Experience in investment manager due diligence and portfolio management. - Excellent financial, writing, presentation, interpersonal, communication, and organizational skills. - Professional certification such as CFA or CAIA, or equivalent. - Ability to travel internationally and domestically to represent the Bureau of Asset Management. - Proficiency in Microsoft Office Suite.
Salary : $327,750
