Organizational Area: Office of the Chief Investment Officer
Location: Oakland, CA
Posting Salary: Commensurate with experience
Position Summary: Risk management professional, reporting to the Director - Investment Risk Management at the Office of the Chief Investment Officer of the Regents.
The Risk Management Investment Officer will be responsible for completing complex investment risk management projects and analyses. Uses advanced management risk management concepts and objectives to resolve highly complex and diverse issues. Develop analysis of risk issues, including statistical analysis and graphics. Exercises judgment in selecting methods, techniques and evaluation criteria for obtaining results. Also responsible for daily/routine risk management reporting and risk data capture and maintenance.
Special Conditions of Employment: Travel Travel outside of normal business hours
Other Special Conditions of Employment: Successful completion of a background and credit check are required for this critical position.
Job Close Date:
Duty 1: Maintain and run risk systems. The risk systems will include both vendor and custom applications.
Make changes in the risk system as needed, and develop new risk applications where the risk systems are not adequate.
Responsible for regular risk reporting. Make improvements to risk reporting infrastructure. Function:1 Percent: 25
Duty 2: Uses advanced skills to monitor and/or analyze the organization's risk exposure on both a day-to-day and long-term basis.
Uses highly complex skills to design, develop, and test quantitative/analytic models to help monitor and manage risk.
Model risk of individual securities from the ground up, when not captured by the vendor risk system. Model risk of portfolios, e.g. hedge funds, where position look-through is not provided, through appropriate proxies.
Understand and be able to explain vendor risk models for public and private assets to a broad audience (risk heads, individual desk heads, product heads, CIO).
Challenge or add to/improve external vendor risk models, where appropriate
Develop new quantitative risk metrics, where appropriate. Function:2 Percent: 25
Duty 3: Develop analysis of risk issues, including statistical analysis and graphics, both for one-off and periodic use.
Uses highly complex skills to direct, analyze, and prepare recommendations for addressing and mitigating risk.
Uses advanced skills to assess portfolio risk exposures, understand benchmark characteristics, and determine trade allocation parameters.
Understand and use macroeconomic factor analysis, in additional to traditional asset class views, to assess risk. Function:3 Percent: 25
Duty 4: Works with portfolio managers and applies highly advanced investment risk management concepts to structure portfolios and provide an independent view of portfolio risk.
Develops, implements, and communicates potential investment risk-related issues to investment committee. Reports on risk to investment committee.
Escalates risk issues when risk/reward tradeoffs are considered inappropriate.
Make suggestions on managing key risks to committee members Function:4 Percent: 10
Duty 5: Maintain and be responsible for risk data, including external manager data capture. Structure and maintain an internal risk database. Create data integrity procedures and regularly update risk database. Function:5 Percent: 15
Job Requirements Bachelor's degree in quantitative field (science, mathematics, engineering/computer science, quantitative finance) or in finance with 4 years or more industry experience in risk management or equivalent education and experience.
Strong attention to detail, strong work ethic, desire to learn new things, self-motivated, comprehensively and completely deliver on all assigned projects.
Advanced skills required to quickly research and collect pertinent information.
Knowledge of broad array of asset classes, including public equity and fixed income. Understanding of risk factor approaches.
Good programming skills (R, python, SQL), such as at the level of an undergraduate in computer science.
In depth ability to articulate ideas and issues clearly, concisely, and persuasively to a variety of audiences.
Excellent verbal and written communication and presentation skills.
Experience running risk reports with a major risk system vendor, e.g. BlackRock, MSCI Barra, Risk Metrics, etc. Deep understanding of common risk metrics such as beta, leverage, VaR and tracking error.
In depth ability to integrate essential information, and use that information to define and test options and alternatives.
Advanced skills required to develop recommendations and justification for the most productive course of action.
In depth ability to be insightful and to use creative skill in reasoning and logic, and in quantitative analysis.
Excellent interpersonal skills as demonstrated by the ability to interact with others in a consistently positive manner, exercise discretion and tact, and gain consensus in an environment where others may have strongly conflicting ideas and goals. Required
Masters of Financial Engineering or equivalent level of training, with an emphasis on risk management or MBA/CFA and minimum of 2 years industry experience focused on risk management in a multi-asset setting.
Knowledge of private assets (private equity, private real estate, real assets) and hedge funds is helpful, but not required.
Experience with relational databases. Using information technical skills to improve risk data maintenance.
Strong derivatives training is not required. Preferred
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About University of California Office of the President
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