WHO WE ARE:
The Teacher Retirement System of Texas is the largest public retirement system in Texas, serving more than 1.5 million people. Innovation, technology, and collaboration make the difference as we strive to continue earning your trust every day. TRS improves the retirement security of Texas public education employees through our ‘best in class’ investment management and delivery of pension and health care benefits.
Our Mission: Improving the retirement security of TRS members by prudently investing and managing the Trust assets and delivering benefits that make a positive difference in their lives.
WHAT YOU WILL DO:
Due Diligence and Analysis
Performs sourcing, due diligence, management, and day-to-day oversight of principal investments and fund commitments to achieve long-term performance targets of 8%+ within acceptable risk parameters, while also considering funding/liquidity sources.
Assists or leads deal execution for principal investments by coordinating or participating in due diligence efforts with external investment managers, managing or working with internal teams of Associates and Analysts, working with members of other TRS investment teams, and facilitating internal procedures relating to the evaluation and closing of principal transactions.
Performs due diligence of investment opportunities including reviewing company diligence materials, conducting reference checks, and developing an independent thesis and investment framework to evaluate merits and risks, valuation, return profiles, terms, and comparable transactions/companies across sectors and geographies.
Communicates analysis of investment opportunities, results, and recommendations with the relevant portfolio managers(s) and/or senior staff via verbal and written reports and presentations, including preparing qualitative and quantitative reports, memoranda, and spreadsheets.
Assists or leads evaluation of a manager organization’s leadership team, strategy, market opportunity, historical and pro-forma financials, investment history, operations, and competitive environment including conducting reference checks.
Negotiates (or assists in the negotiation of) investment management partnerships.
Documents and organizes the record of the due diligence process.
Monitors and assists with the development of a diverse portfolio of special opportunities investments, which includes recurring reviews and ad-hoc analysis of both portfolio, partner, and company-level performance.
Monitors selected investments post-closing through observation of publicly available filings, board meetings/calls, and analysis of investment level financial and operational reports.
Consults with investment managers, analysts, investment accounting, legal counsel, custodian, and third-party advisors and consultants.
Develops and maintains professional relationships and contacts within the investment industry in order to conduct searches and gain knowledge of appropriate investment opportunities.
Works as part of a team to implement best operational and risk management practices.
Works with TRS portfolio management systems such as eFront, Tamale and DealCloud.
Ensures that the agency Ethics Policy is adhered to in relationships with general partners, external managers, brokers, research suppliers, and other vendors.
Performs related work as assigned.
WHAT YOU WILL BRING:
Bachelor’s degree from an accredited four-year college or university with major coursework in business administration, finance, accounting, operations research, math, information technology, liberal arts or a related area.
A Master’s degree in a related area may substitute for one (1) year of required experience.
Associate Minimum Experience:
Three (3) years of full-time professional institutional investment experience or other relevant experience involving a high degree of skill in data analysis, financial modeling, and investment evaluation with a credit, equity or multi-asset focus or other relevant transactional experience in a corporate development, investment banking, hedge fund, private equity fund, or similar background.
Senior Associate Minimum Experience:
Five (5) years of full-time professional institutional investment experience or other relevant experience involving a high degree of skill in data analysis, financial modeling, and investment evaluation with a credit, equity or multi-asset focus or other relevant transactional experience in a corporate development, investment banking, hedge fund, private equity fund, or similar background.
Master of Business Administration (MBA) or Master’s degree related to finance, accounting, economics, or a related field.
Experience sourcing and underwriting direct and co-investment transactions in a risk-taking position (e.g. as a buy-side institutional investor) across multiple asset classes and sector.
Experience leading transaction execution and managing due diligence efforts of deal teams.
Experience negotiating legal agreements, either fund investments or transaction documents.
Experience working with external partners, boards of directors and/or senior management teams (CEO, CFO) of companies to evaluate operational, financial, and strategic decisions.
Certification as a Chartered Financial Analyst (CFA), Certified Public Accountant (CPA), or Chartered Alternative Investments Analyst (CAIA), or significant progress toward obtaining such certification.
Associate Preferred Experience – Six (6) years of full-time professional institutional investment experience or other relevant experience involving a high degree of skill in data analysis, financial modeling, and investment evaluation with a credit, equity or multi-asset focus or other relevant transactional experience in a corporate development, investment banking, hedge fund, private equity fund, or similar background.
KNOWLEDGE SKILLS AND ABILITIES/PHYSICAL REQUIREMENTS:
Advanced investment concepts, terminology, styles, models, strategies, and fundamental investment factors.
Institutional portfolio management.
Corporate valuation metrics and techniques including relative valuation methodologies.
Process for completing diligence on a variety of transaction types or deep skills in one of the following: public equity, high yield and levered loans, structured credit, buyouts, and distressed/event driven situations.
Financial modeling and valuation analysis.
Conducting data searches and evaluations of large amounts of information, performing complex statistical analysis of the data, and preparing concise and accurate reports and written/oral recommendations.
Planning, organizing, and prioritizing work assignments to manage a high-volume workload in a fast-paced and changing environment, and in completing detailed work with a high degree of accuracy.
Verbal and written communication of complex information that is accurate, timely, and based on sound judgment.
Making presentations to groups with varied levels of investment knowledge.
Using a computer in a Windows environment with word processing, spreadsheet, presentation, database, and other business software to prepare correspondence, spreadsheets, charts, and reports
Establish and maintain harmonious working relationships with co-workers, agency staff, and external contacts.
Work effectively in a professional team environment.
Travel regularly for business purposes.
Physical Requirements and/or Working Conditions
Work is performed in a standard office environment and requires:
normal cognitive abilities including the ability to learn, recall, and apply certain practices and policies;
marginal or corrected visual and auditory requirements;
constant use of personal computers, copiers, printers, and telephones;
the ability to move about the office to access file cabinets and office machinery;
frequent sitting and/or remaining in a stationary position; and
the ability to work under deadlines, as a team member, and in direct contact with others.
Must be able to:
regularly, reliably, and punctually attend work;
work extended hours as necessary;
travel routinely for work assignments and trainings;
show flexibility and adaptability toward changes in assignments and work schedules;
adhere to the agency’s internal management policies and procedures; and
exhibit work behaviors consistent with agency and division core values.
Military Occupational Specialty (MOS) Codes:
Veterans, Reservists or Guardsmen with experience in the Military Occupational Specialty ( http://www.hr.sao.texas.gov/Compensation/MilitaryCrosswalk/MOSC_AdministrativeSupport.pdf ) along with the minimum qualifications listed above may meet the minimum requirements and are highly encouraged to apply. Please contact Talent Acquisition at firstname.lastname@example.org with questions or for additional information.
To view all job vacancies, visit www.trs.texas.gov/careers or www.trs.csod.com/careersite.
For more information, visit www.trs.texas.gov.