Description
This recruitment will remain open until filled, and it is in the candidate’s best interest to apply early.
Note: this role may be filled at the Assistant Investment Officer (AIO) level or the Investment Officer (IO) level.
AIO Salary Range: $84,000 - $141,000
IO Salary Range: $132,000 - $219,000
The Washington State Investment Board (WSIB) is a dedicated global investment management organization with over $233.9 billion in assets under management. The WSIB's globally diversified portfolios are comprised of more than 17,000 holdings across 91 countries on 6 continents and in 50 currencies. The WSIB's central mandate is to maximize return at a prudent level of risk. The WSIB manages investments for 18 retirement plans for public employees, teachers, school employees, law enforcement officers, firefighters, and judges. We also manage investments for several other important public funds that benefit Washington’s industrial insurance program, colleges and universities, and developmental disability programs. The WSIB’s excellent investment performance dramatically contributes to the state’s bottom line.
To learn more about our organization and the work we do, please visit our website at sib.wa.gov and follow us on LinkedIn.
The WSIB operates in a hybrid work environment, and this position should anticipate 60% of their time in the office.
The WSIB is seeking a qualified candidate to join our Private Equity team. This is a unique opportunity to join a globally recognized investment management organization. The primary objective of the AIO or IO – Private Equity is the ongoing selection, due diligence, and monitoring of individual private equity partnerships, while ensuring consistency with statutes, regulations, and Board policies. The incumbent will be expected to work with the highest standard of professional and ethical conduct, and for the exclusive benefit of WSIB beneficiaries.
This role assists the Private Equity Senior Investment Officer (SIO) in prudently deploying the allocation that the Board has established for Private Equity and implementing the annual plan and objectives for the unit with the intent to create a well-diversified and well-performing risk adjusted portfolio.
We are seeking an experienced investment professional who can immediately and effectively diligence, underwrite, negotiate, and execute private equity partnership commitments, as well as monitor a portfolio of existing investments. We are looking for a strong, independent performer who can partner well with our cohesive team; a trustworthy professional who values diversity, equity, and inclusion; a professional interested in exposure to various asset classes and opportunities to become a better investor; a self-starting, critical-thinking, principal investor who is able to engage in giving and implementing feedback and interested in an attractive work/life balance while taking on the challenges associated with working for one of the world’s leading asset allocators.
Duties
IF SELECTED FOR THIS OPPORTUNITY, YOU WILL:
Actively participate in the development, recommendation, implementation, monitoring, and termination of investments in the private equity portfolio. This includes:
- Contributing as a member of a team committed to diversity, equity and inclusion in our work and workplace.
- Working closely with general partners, advisors, and legal counsel to implement goals and objectives.
- Maintaining and developing relationships with the WSIB’s private equity general partners and attending partnership meetings as required.
- Participating actively on limited partnership advisory committees.
- Identifying, evaluating, recommending, and monitoring private equity investments.
- Performing due diligence on potential investment opportunities.
- Preparing written materials for, and making oral presentations to, the Investment Committee, WSIB Board, and WSIB Board Committees.
- Negotiating legal and business terms and conditions in partnership agreements.
- Assisting the Senior Investment Officer in developing and implementing the overall portfolio strategy.
- Assisting in complex cash flow modeling and strategic management.
- Preparing and evaluating Requests for Proposals (RFPs) as needed.
- Traveling frequently, including internationally, as the WSIB is an actively monitored portfolio which includes a significant non-U.S. component.
Requirements
Qualifications
COMPETITIVE APPLICANTS WILL HAVE:
Assistant Investment Officer
- Bachelor’s degree in business, finance, accounting or related field.
- A minimum of one (1) years of experience focused on private equity partnership or direct investing in an institutional investment management organization.
- Either of the following may substitute for up to one (1) year in total years of experience requirement:
- Certification as a Chartered Financial Analyst (CFA)
- An advanced degree in business, finance, accounting, or related field
Investment Officer
- Bachelor’s degree in business, finance, accounting or related field.
- A minimum of three (3) years of experience focused on private equity partnership or direct investing in an institutional investment management organization.
- Either of the following may substitute for up to one (1) year in total of the three years of experience requirement:
- Certification as a Chartered Financial Analyst (CFA)
- An advanced degree in business, finance, accounting, or related field
THE STRONGEST APPLICANT WILL HAVE:
- MBA / CFA Certification.
- Specialized Industry Knowledge–A working knowledge of all sub-classes of private equity, including venture capital, growth equity, leveraged buyouts, and credit strategies.
- Analytical and Critical Reasoning Skills–The ability to comprehensively analyze and evaluate complex investment opportunities, identify merits and concerns, evaluate risks, research issues, and make well-reasoned recommendations.
- Communication Skills–Excellent written and verbal communications skills are essential. The IO prepares concise written due diligence reports for presentation to the Investment Committee and Private Markets Committee, and makes oral presentations to the Investment Committee, Private Markets Committee, and Board. The IO will also complete written quarterly monitoring reports and must clearly and concisely document issues discussed in partnership annual meetings and advisory committee meetings.
- Interpersonal Skills–The ability to work well with other investment officers as part of a team, which is critical to the success of the private equity unit. In addition, the IO will coordinate and facilitate workflow with a diverse group of external parties, including consultants, attorneys, managers, and general partners.
- Excellent Negotiation Skills–The ability to participate in the negotiation of terms and conditions of complex limited partnership agreements.
- Ability to effectively manage multiple projects simultaneously, often complicated by tight time frames and travel demands.
- Computer Skills–Proficiency in Word and Excel.
If your experience or qualifications look different from what we have identified and you think you can be successful in this position, please address this in your cover letter.
Supplemental Information
In addition to a complete profile, please include:
- A cover letter specifying why this position is of interest to you, how you would be able to immediately and effectively contribute to the private equity team’s investment and monitoring efforts, and how you meet the qualifications listed above. This letter should be no more than one page.
- A current chronological resume.
BACKGROUND CHECK:
Prior to a new hire, a background check including education verification, credit check, and criminal record history will be conducted. Information from the background check will not necessarily preclude employment but will be considered in determining applicant’s suitability and competence to perform in the position.
At the WSIB you’ll experience true work-life balance and talented, passionate co-workers focused on maximizing the investment returns for the exclusive benefit of the beneficiaries. The WSIB is a respected institutional investor and thought leader in its industry and we value diverse perspectives and life experiences. The WSIB is open to candidates who may require employment-based visa sponsorship. Sponsorship decisions are made based on position requirements, business needs, candidate qualifications, and applicable immigration regulations.
The WSIB is an equal opportunity employer. Women, people of color and those representing diverse ethnicities, persons of disability, persons over 40 years of age, veterans, military spouses or people with military status, and people of all sexual orientations and gender identities are encouraged to apply.
Employees may be eligible for the following benefits:
Medical, Dental, and Vision for employee & dependents; Public Employees Retirement System (PERS); Vacation, Sick, and other Leave; 11 Paid Holidays and 1 Personal Holiday per year; Public Service Loan Forgiveness; Long Term Disability; Life Insurance; Deferred Compensation Programs; Dependent Care Assistance Program (DCAP); Flexible Spending Arrangement (FSA); Employee Assistance Program; Commute Trip Reduction Incentives; professional development opportunities; flexible work schedules; and participation in the Combined Fund Drive; and SmartHealth.
An overview of benefits of state employment and WSIB specifically can also be found on our website (Download PDF reader).
The WSIB is committed to the full inclusion of all qualified individuals. As part of this commitment, the WSIB will ensure that persons with disabilities are provided reasonable accommodations. If reasonable accommodation is needed to participate in the job application or interview process, to perform essential job functions, and/or to receive other benefits and privileges of employment, please contact HR@sib.wa.gov.
