Job Posting: Associate Portfolio Manager - Real Estate

State Teachers' Retirement System

JC-194044
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Associate Portfolio Manager - Real Estate
ASSOCIATE PORTFOLIO MANAGER, STATE TEACHERS' RETIREMENT SYSTEM

$10,000.00 - $15,000.00 per Month

Final Filing Date: 4/10/2020

Job Description and Duties

The CalSTRS Investments Branch is seeking an experienced individual to work as an Associate Portfolio Manager in the Real Estate Unit.

The Real Estate unit invests in commercial real estate domestically and internationally. The unit currently includes allocations to core, value add and opportunistic risk strategies. The Real Estate unit's responsibilities include investment and operational oversight in order to manage the portfolio.

Under the general direction of the Director of Real Estate, the Associate Portfolio Manager provides investment expertise to the Director of Real Estate. The Associate Portfolio Manager is responsible for managing a portfolio of investments utilizing independent analysis regarding the development and implementation of various risk management, investment program strategies, processes and controls consistent with policies and procedures in order to meet investment and policy objectives.

Responsibilities of the Associate Portfolio Manager include:
  • Actively managing a subset of the real estate portfolio which may include different risk segments or investment structures.
  • Evaluating and implementing geographic, property type, and portfolio risk allocations to achieve investment and policy objectives.
  • Maintaining expertise of current market conditions, real estate fundamentals, investment manager terms and conditions that optimize alignment of interest, and other pertinent economic and strategic research.
  • Preparing and presenting reports to the Teachers’ Retirement Board to disseminate information consistent with policies and procedures.
Please note: This position will not have responsibility for supervising subordinate staff initially but may be responsible for hiring and supervising subordinate staff in the future. 

This position is eligible for incentive compensation and has a maximum incentive opportunity of 45% of base salary increasing to 50% in the next fiscal year July 1, 2020.

An Associate Portfolio Manager who possesses a professional certification in one of the following designations: Chartered Financial Analyst (CFA), Certified Commercial Investment Member (CCIM), Financial Risk Manager (FRM), Certified Investment Management Analyst (CIMA) or Chartered Alternative Investment Analysts (CAIA) may receive a 5% monthly base pay differential. Only one 5% base pay differential is eligible regardless of the number of certifications.

The ideal candidate will be results oriented with proven knowledge and experience in real estate investment, strategy implementation, and risk management.

Does this opportunity seem right for you? If so, see the Application Instructions section below and apply now.

You will find additional information about the job in the Duty Statement.

Minimum Requirements

You will find the Minimum Requirements in the Class Specification.

Position Details

Job Code #:
JC-194044
Position #(s):
815-310-4698-031
815-310-4698-012
Working Title:
Associate Portfolio Manager - Real Estate
Classification:
ASSOCIATE PORTFOLIO MANAGER, STATE TEACHERS' RETIREMENT SYSTEM
$10,000.00 - $15,000.00
# of Positions:
2
Work Location:
Yolo County
Job Type:
Permanent, Full Time

Department Information

The California State Teachers' Retirement System (CalSTRS) is the largest educator-only pension fund in the world. CalSTRS proudly provides retirement, disability and survivor benefits to California’s 964,000 public school educators and their families.

The Investments Branch manages the investment portfolio for the nation’s second largest public pension fund; providing retirement, disability and survivor benefits to California’s more than 964,000 K-12 teachers, plus community college educators and their families. The Investments Branch manages a portfolio that is broadly diversified into seven asset categories with assets totaling approximately $246 billion as of October 31, 2019. In 2019, the CalSTRS Investments Branch was named in Pensions & Investments magazine’s “Best Places to Work in Money Management” list for the fifth time since 2013, and our employees continue to support an inclusive environment.

We encourage you to join our world-class financial services institution and state agency. Our headquarters and member service centers located across the state feature sustainable construction, plenty of natural lighting and functionally-designed work spaces. At our LEED Platinum headquarters in West Sacramento, enjoy the full service cafe, free onsite fitness center, bicycle library and walks along the Sacramento River. In addition to state-of-the-art amenities, we offer thriving wellness and sustainability programs, an award-winning employee recognition program, and ongoing learning and development opportunities.

Special Requirements

Background Investigation

Prior to employment with CalSTRS, a background investigation (BI) will be conducted. The BI consists of a Personal History Statement and fingerprinting through the Department of Justice. The BI will check criminal and civil records and, if applicable, verify education and check driving records.

The position may be subject to the disclosure and disqualification requirements concerning economic conflict of interest in government work, pursuant to the CalSTRS Conflict of Interest Code and the Political Reform Act.

Application Instructions

Completed applications and all required documents must be received or postmarked by the Final Filing Date in order to be considered. Dates printed on Mobile Bar Codes, such as the Quick Response (QR) Codes available at the USPS, are not considered Postmark dates for the purpose of determining timely filing of an application.

Final Filing Date: 4/10/2020

Who May Apply

Individuals who are currently in the classification, eligible for lateral transfer, eligible for reinstatement, have list eligibility, are in the process of obtaining list eligibility, or have SROA and/or Surplus eligibility (please attach your letter, if available). SROA and Surplus candidates are given priority; therefore, individuals with other eligibility may be considered in the event no SROA or Surplus candidates apply.

Applications will be screened and only the most qualified applicants will be selected to move forward in the selection process.
Applicants must meet the Minimum Qualifications stated in the Classification Specification(s).

How To Apply

Complete Application Packages (including your Examination/Employment Application (STD 678) and applicable or required documents) must be submitted to apply for this Job Posting. Application Packages may be submitted electronically through your CalCareer Account at www.CalCareers.ca.gov. When submitting your application in hard copy, a completed copy of the Application Package listing must be included. If you choose to not apply electronically, a hard copy application package may be submitted through an alternative method listed below:

Address for Mailing Application Packages

You may submit your application and any applicable or required documents to:

State Teachers' Retirement System
Attn: Recruitment
P.O. Box 15275, MS 31
Sacramento, CA 95851-0275

Address for Drop-Off Application Packages

You may drop off your application and any applicable or required documents at:

CalSTRS, Attn: Recruitment
100 Waterfront Place
West Sacramento, CA 95605
08:00 AM - 05:00 PM

Required Application Package Documents

The following items are required to be submitted with your application. Applicants who do not submit the required items timely may not be considered for this job:

  • Current version of the State Examination/Employment Application STD Form 678 (when not applying electronically), or the Electronic State Employment Application through your Applicant Account at www.CalCareers.ca.gov. All Experience and Education relating to the Minimum Qualifications listed on the Classification Specification should be included to demonstrate how you meet the Minimum Qualifications for the position.
  • Resume is required and must be included.
  • Other - A Cover Letter is required and must be included.
Applicants requiring reasonable accommodations for the hiring interview process must request the necessary accommodations if scheduled for a hiring interview. The request should be made at the time of contact to schedule the interview. Questions regarding reasonable accommodations may be directed to the EEO contact listed on this job posting.

Desirable Qualifications

In addition to evaluating each candidate's relative ability, as demonstrated by quality and breadth of experience, the following factors will provide the basis for competitively evaluating each candidate:
  • Bachelor’s degree in Finance or closely related field
  • Experience managing and directing real estate manager/joint venture/operator agreements
  • Experience recommending and implementing strategies related to industrial, office, apartments, and retail investment
  • Experience in portfolio management/risk analysis
  • Experience underwriting individual real estate asset analysis
  • Knowledge of Real Estate Investment principles and trends
  • Knowledge of real estate mortgage use and debt strategies
  • Ability to work effectively as an individual and as part of a team to support team, unit, and Investments Branch goals
  • Ability to present information clearly, both orally and in writing, to a wide range of audiences
  • Demonstrated ability to effectively lead a team

Benefits

Learn about all of the benefits of being a CalSTRS employee by visiting CalSTRS.com/Careers and clicking on the About Us tab.

Contact Information

The Human Resources Contact is available to answer questions regarding the position or application process.

Human Resources Contact:
Recruitment
(916) 414-4990
Recruitment@calstrs.com

Please direct requests for Reasonable Accommodations to the interview scheduler at the time the interview is being scheduled. You may direct any additional questions regarding Reasonable Accommodations or Equal Employment Opportunity for this position(s) to the Department's EEO Office.

EEO Contact:
EEO Officer
(916) 414-4933
adacoordinator@calstrs.com
California Relay Service: 1-800-735-2929 (TTY), 1-800-735-2922 (Voice) TTY is a Telecommunications Device for the Deaf, and is reachable only from phones equipped with a TTY Device.

ADDITIONAL APPLICATION INSTRUCTIONS

  • Electronic applications through your CalCareer account are highly recommended. If you are unable to apply electronically through your CalCareer account, please mail or drop off a hard copy of your application packet. Please provide the following information on your application: RPA 4381/4417, JC-194044
  • If education is being used to meet the minimum qualifications, please submit a copy of your transcripts/degree.
  • Candidate may be selected by application packet review only.
  • Multiple positions may be filled from this recruitment.

Equal Opportunity Employer

The State of California is an equal opportunity employer to all, regardless of age, ancestry, color, disability (mental and physical), exercising the right to family care and medical leave, gender, gender expression, gender identity, genetic information, marital status, medical condition, military or veteran status, national origin, political affiliation, race, religious creed, sex (includes pregnancy, childbirth, breastfeeding and related medical conditions), and sexual orientation.

It is an objective of the State of California to achieve a drug-free work place. Any applicant for state employment will be expected to behave in accordance with this objective because the use of illegal drugs is inconsistent with the law of the State, the rules governing Civil Service, and the special trust placed in public servants.

Application Methods:
Electronic (Using your CalCareer Account)
By Mail
Drop-off