Location: 1900 Aldrich Street Austin, Texas, 78723 United States IFM Associate - Investment Manager Equity Research Requisition ID: req1107 Employment Type: Unclassified Regular Full-Time (URF) Division: Internal Public Markets Compensation: Depends on Qualifications Location: IMD Job Closing: 10/25/2024 WHO WE ARE: With the Investment Management Division (IMD) you will be joining a diverse group of achievers who celebrate the unique value individuals bring to support our shared cause: earning trust and contributing to the financial future of 1.9 million public education employees and retirees throughout Texas. Navigating the current market environment takes innovation and we're passionate about stewarding the right investments to make an impact both in the lives of our members and all Texans. We invite you to partner with the best financial minds in the business to manage a global portfolio of over $200 billion in public and private investments. Our success starts with you. Position Summary The Internal Fundamental Management (IFM) Equity Research Associate - Investment Manager performs advanced equity market investment work. This role is with the internally managed Healthcare Innovations Portfolio, a concentrated healthcare only portfolio within IFM/TRS. Work involves financial modeling, monitoring healthcare industry and stock dynamics, and providing recommendations on the position of securities to portfolio managers and senior staff. This position reports to the Director of IFM Research. This vacancy will be filled at one of three levels - Associate, Sr Associate, or Investment Manager. Selected applicant will be offered the position that most closely matches their education and experience. Financial Modeling / Dynamics * Assists in developing investment strategy for assigned portfolio or sector in accordance with investment policy objectives and department guidelines. * Performs investment analysis of securities in assigned industries or sectors, including basic investment computations (those involved in valuation calculation), using contact with company management, industry sources, outside investment firms, printed or electronic media, and other relevant, reliable sources. * Monitors performance of assigned individual equities, industries, or sectors in conjunction with senior staff. * Analyzes and evaluates long and short term, national and international macro/micro economic and business trends that directly affect assigned equity security groupings and develops recommendations for adjustments to holdings. * Ensures that TRS Ethics Policy is adhered to in relationships with brokers, research suppliers, and other vendors. Investment Recommendations * Communicates analysis of investment opportunities, results, and recommendations with the relevant portfolio managers and/or other senior staff via verbal and written reports and communications. * Prepares qualitative and quantitative reports, memoranda, and spreadsheets. * Provides equity security investment recommendations relative to specific industries or sectors to assist in equity portfolio construction. * Performs weekly forecast updates on pitch recommendations. WHAT YOU WILL BRING: Required Education * 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 the required experience. Required Experience * Three (3) years of full-time professional investment management experience (Associate). * Five (5) years of full-time professional investment management experience (Senior Associate). * Seven (7) years of full-time professional investment management experience (Investment Manager). * Previous coverage of global equities including, but not limited to, the developed markets (US, Canada, Europe, Australia, and Japan). * Experience working on a portfolio with 60-80 holdings or less (Investment Manager) * Experience may be concurrent. Required Registration, Certification, Licensure * None Preferred Qualifications * Master of Business Administration (MBA) or Master's degree related to finance. * Prior experience as a generalist analyst covering multiple unrelated sectors and/or industries. * Experience working on a portfolio with 20-60 holdings or less. * Experience conducting primary research activities including industry/user conferences and interviews with appropriate company stakeholders. * Skill in using a wide variety of mainstream portfolio analytic software products, such as Bloomberg and FactSet. * Certification as a Chartered Financial Analyst (CFA) or working towards CFA. Knowledge, Skills, and Abilities Knowledge of * Investment concepts, terminology, styles, models, strategies, and fundamental investment factors. * Statistical concepts, methods, and models and their application to investments. Skill in * Strong written and verbal communication skills with the ability to convey complex ideas in a simple, clear manner. * Using a computer in a Windows environment with word processing, spreadsheet, presentation, database, and other business software to prepare correspondence, spreadsheets, charts, and reports. * 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. * Completing detailed work with a high degree of accuracy. * Verbal and/or written communication of complex information that is accurate, timely, and based on sound judgment. * Making presentations to groups with varied levels of investment knowledge. Ability to: * Establish and maintain harmonious working relationships with co-workers, agency staff, and external contacts. * Work effectively in a professional team environment. Military Occupational Specialty (MOS) Codes: Veterans, Reservists or Guardsmen with experience in the Military Occupational Specialty ( https://www.trs.texas.gov/files/trs-military-crosswalk.xlsx ) along with the minimum qualifications listed above may meet the minimum requirements and are highly encouraged to apply. Please contact Talent Acquisition at careers@trs.texas.gov 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.