Director of Investment Research

US-PA-Philadelphia
Job ID
2017-1306
# of Openings
1
Category
Project Management (Senior Managing Consultant)

Overview

FIRM OVERVIEW
PFM Asset Management, LLC (“PFMAM”) is a privately held registered investment advisor headquartered in Harrisburg, PA, with offices around the country.  PFM is among the leading investment managers in the United States, and provides cash management, multi-asset class investment management and consulting services to local governments and other tax-exempt institutions. 

 

For the period ending June 30, 2017, PFM Asset Management LLC had $119.6 billion in total assets, including $77.5 billion in discretionary assets under management and $42.1 billion in non-discretionary assets under advisement, consisting of short-term fixed income assets for operating funds and bond proceeds and longer-term multi-asset class portfolios.

 

For long-term assets, PFMAM manages multi-asset class portfolios primarily for pension funds, OPEB trusts and endowments/foundations. PFMAM’s longer-term multi-asset class business is referred to as “Multi-Asset Class Management” or “MACM.” PFMAM’s MACM business started in 2006 and is now responsible for the management of more than $9 billion in institutional assets. In this capacity, we serve as an outsourced CIO or discretionary manager-of-managers for various types of plan sponsors country-wide.

 

 

POSITION OVERVIEW

PFMAM is currently seeking a Director of Investment Research to provide research and analysis in support of PFM’s multi-asset class investment strategies.

 

The Director oversees a team of experienced research analysts. The Director will be expected to provide support to the current research staff in order to provide PFM clients with best-in-class investment strategies. The Director will report to a Managing Director (MD), our Multi-Asset Class Portfolio Strategist.  The Director will work closely with this MD and the Multi-Asset Class Investment Committee to determine the optimal portfolio construction for our portfolios; as a result, this person will perform fundamental research on global capital markets/asset classes to influence the positioning of our clients’ portfolios.  The Director will also assist with new business development and client relationship management related to our MACM business.

 

Some travel to clients, prospects and conferences nationwide is required for this role. When not traveling, this person will work from PFM’s Philadelphia office.      

Responsibilities

 

Core Duties:

  • Work closely with out Multi-Asset Class Portfolio Strategist to lead economic and investment research across asset classes by working with the appropriate team member(s) to compile economic data and capital markets analysis that drive/support PFM’s investment strategies and outlook
  • Serves as a voting member of PFM’s multi-asset class investment committee
  • Coordinates with our Multi-Asset Class Portfolio Strategist and our team of analysts to review manager recommendations and materials prior to being discussed at investment committee meetings
  • Oversees all manager due diligence and works with research analysts to continually improve depth and quality of analysis, including both initial (manager searches) and ongoing (quarterly write-ups)
  • Reviews and approves new client alerts and new manager presentations before circulating internally for distribution to clients
  • Oversees production of monthly and quarterly market commentary and review and approve materials before being submitted to marketing for completion and distribution
  • Speaks at industry conferences and authors whitepapers for industry leading publications in order help raise the profile of the firm and the research team
  • Presents market updates, performance reviews, asset allocation/money manager recommendations and other materials at client meetings
  • Reviews and approves materials for internal webinars in advance to ensure information is sufficient and message is consistent with the current outlook of the investment committee. Coordinates with analysts in compilation of training materials for investment training with client managers and other staff.
  • Manages portfolio analytics and portfolio trading staff
  • Reviews and approves output for prospect analysis and asset allocation modeling for existing clients
  • Determines trade implementation following investment committee decisions, and reviews and approves initial investment strategy for new clients
  • Completes employee reviews and goals for all members of the research, analytics and trading teams and submit to Managing Directors (MDs) for approval
  • Develops and mentors all members of the research, analytics and trading teams, maintain regular communication, and prioritizes regular work and task
  • Recommends staffing needs of the research, analytics and trading teams and seeks approval from MDs
  • Supports other sales, marketing, service, and staff management activities as appropriate

Qualifications

 

  • Bachelor's degree in Finance, Economics or related field.  CFA charterholder preferred.
  • 10 or more years of related and progressive investment experience involving investment manager research and due diligence or economic, macro and asset class research, 3 or more of which are in a management or team lead role.
  • Experience in servicing governments, healthcare, higher education, and/or other not-for-profit institutional clients preferred.
  • Candidate should be well versed across the investible capital markets but especially in multi-asset class options including equity and fixed income funds, short and intermediate-term fixed income investments, and money market instruments.
  • Authentic leadership style with a passion for creating harmonious work environments, optimizing the performance of diverse teams, and developing junior staff.
  • Independent and self-motivated with a proven successful track record.
  • Superior quantitative and analytical skills.
  • Ability to think and act strategically. Looks at issues affecting the team from a larger, longer-term perspective rather than just day-to-day task execution.
  • Demonstrates flexibility when approaching complex situations and often uses creative methods/solutions to avoid conflicts and/or negative outcomes.
  • Possesses a high degree investment acumen, institutional client-facing, and presentation skills.
  • Self-starter who has excellent personal motivation with the ability to work collaboratively in a strong team environment as well as independently.
  • Outstanding project management skills with proven ability to manage multiple tasks and adapt to a changing, fast-paced environment.
  • Demonstrates unwavering integrity and instills confidence in others.
  • Desire to improve processes, take initiative and solve problems.
  • Strong quantitative, problem solving and analytical skills.
  • Strong working knowledge of MS Office applications and related technologies.

 

TOTAL REWARDS
PFM’s total rewards package includes a competitive base salary, bonus eligibility, and comprehensive benefits package. PFM also offers the option for participation in profit sharing and 401K plans.

PFM is an Equal Opportunity Employer (M/F/D/V) and maintains a drug-free work environment.

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