What are the responsibilities and job description for the Investment Analyst, PERAC position at Public Employee Retirement Administration?
OFFICIAL TITLE: Investment Analyst
PERAC's mission is to provide regulatory oversight and guidance for the effective, equitable, and ethical operation of the Commonwealth of Massachusetts’ public pension systems. PERAC is currently recruiting an Investment Analyst to join our Investment Unit.
Duties:
As an Investment Analyst, you’ll work under supervision, performing reviews of monthly cashbooks, analyzing investment returns, investment fees, and prepare performance calculations. You will become member of a team that ensures the cashbooks received from the 104 retirement systems in Massachusetts follow MGL Chapter 32 and 840 CMR 4.0. You will also participate in the execution and production of the Annual Report and other PERAC financial publications. This position also includes regular communication with different units within PERAC and staff from retirement systems across the state. To be successful, you’ll need to be client oriented, well organized and pay attention to details, be a good team player and eager to learn.
Some of your key responsibilities include:
- Collect monthly cashbook reporting from retirement boards and fund reporting from investment managers, custodian, and consultant reports to ensure reporting is received in a timely manner.
- Compile and analyze data from retirement system accounting records, investment manager reports and custodian reports to calculate rates of returns for individual retirement systems, performing additional verification as needed.
- Responsible for reporting any issues which may arise relating to accounting and performance calculations of the retirement system to the manager, and, where warranted, the Audit Staff.
- Acquire a working knowledge of statutes, rules and regulations relating to the investing of public pension funds in the Commonwealth through on-the-job training.
- Assist with producing the Annual Report alongside members from other units within PERAC; as well as assist with other educational materials on investment related topics.
- Respond to questions on matters relating to the investment accounting of pension funds with consultants and retirement systems.
- Perform other work-related duties or special projects as required by Manager and/or Senior Management.
TOTAL COMPENSATION/BENEFITS STRUCTURE:
As a Commonwealth of Massachusetts employee, you are offered a great career opportunity influencing a wide spectrum of services to the diverse populations we serve. The State's total compensation package features an outstanding set of employee benefits which you should consider towards your overall compensation, including:
- Defined Benefit Retirement Plan
- Alternative Deferred Compensation Plan 457(b)
- 75% of paid medical insurance premium.
- Low cost basic and optional life insurance
- Reasonable Dental and Vision Plans
- Flexible Spending Account and Dependent Care Assistance programs
- 11 paid holidays per year and competitive Sick, Vacation and Personal Time
- Tuition Benefit for employee and spouse at state colleges and universities
- Long-Term Disability and Extended Illness program participation options
- Incentive-based Wellness Programs
- Professional Development and Continuing Education opportunities
- Qualified Employer for Public Service Student Loan Forgiveness Program
- Qualified benefits under the Massachusetts Paid Family Medical Leave
QUALIFICATIONS:
- Bachelor’s degree in Accounting, Finance, or Business Administration.
- Proficiency in Microsoft Office software suite.
- Strong oral and written communication skills.
- Attention to detail.
- Analytical thinking
- Aptitude for documentation management, accuracy, and organization
- Working knowledge of the financial administration of public retirement plans and the Massachusetts retirement system a plus.
An Equal Opportunity / Affirmative Action Employer. Females, minorities, veterans, and persons with disabilities are strongly encouraged to apply.
The Commonwealth is an Equal Opportunity Employer and does not discriminate on the basis of race, religion, color, sex, gender identity or expression, sexual orientation, age, disability, national origin, veteran status, or any other basis covered by appropriate law. Research suggests that qualified women, Black, Indigenous and Persons of Color (BIPOC) may self-select out of opportunities if they don't meet 100% of the job requirements. We encourage individuals who believe they have the skills necessary to thrive to apply for this role.