• Investment Research Analyst

    Job Locations US-PA-Philadelphia
    Job ID
    2018-1368
    # of Openings
    2
    Category
    Analyst
  • Overview

    About PFM

    Headquartered in Harrisburg, PA, PFM Asset Management LLC (PFMAM) is among the largest investment-grade fixed-income managers in the United States.  For the period ending March 31, 2018, PFM Asset Management LLC had $106.8 billion in total fixed income assets including $75.9 billion in discretionary assets under management and $30.9 billion in nondiscretionary assets under advisement.

     

    PFMAM specializes in managing investments for clients in the government, insurance, healthcare, higher education and other institutional sectors.  The firm manages short-term fixed income assets for operating funds and bond proceeds as well as longer-term multi-asset class portfolios.  For long-term assets, PFM provides experienced, independent investment consulting and asset management for institutional clients such as pension funds, endowments, foundations and healthcare and higher education institutions who employ a variety of asset classes in their portfolios including equities, various fixed income strategies, real estate, and other asset classes.

     

    Our longer-term multi-asset class business is referred to as “Multi-Asset Class Management” or “MACM”. PFM’s MACM business started in 2006, and for the period ending March 31, 2018, had $17.5 billion in total multi-asset class assets, including $10.9 billion in discretionary assets under management and $6.6 billion in non-discretionary assets under advisement. In this capacity, we serve as an Outsourced Chief Investment Officer (OCIO) and a discretionary manager-of-managers for various types of plan sponsors countrywide.

     

    PFMAM’s MACM group is seeking two Research Analysts to be responsible for manager due diligence research or economic, macro, quantitative research, asset allocation, portfolio construction, and asset class research. These roles will be based in our Philadelphia office. One analyst will have more focus on manager and economic research, while the other analyst will have more focus on asset allocation and portfolio construction.

    Responsibilities

     

    • For the manager and economic research analyst:
      • Maintain coverage of existing managers and research new funds and strategies, or maintain coverage of global economies and asset classes
      • Maintain and continue to build approved list of managers
      • Responsible for research and due diligence of assigned investment managers and funds or economic, macro and asset class research
      • Formulate opinions and ratings of investment funds and strategies using a combination of qualitative and quantitative analysis, including manager meetings and various quantitative measures of relative performance, or formulates opinion of asset class opportunities and portfolio positioning
    • For the asset allocation and portfolio construction analyst:
      • Conduct asset allocation and asset/liability modeling
      • Assist in the construction of multi asset investment portfolios
      • Provide multi asset and portfolio research
      • Assist in the development of capital market assumptions
      • Provide performance, attribution and other portfolio analysis
    • In addition, both roles will:
      • Review portfolios and compile analysis
      • Write research reports for distribution to external clients and internal Investment Committee
      • Participate in various meetings including weekly research and monthly Investment Committee
      • Write and contribute to various monthly and quarterly reports distributed to external clients and internal Investment Committee.
      • Work on ad hoc projects and other duties as assigned

    Qualifications

     

    • Bachelor’s degree in finance, economics, quantitative finance, financial engineering, data science, or other relevant discipline
    • 2-5 years of related investment experience involving investment manager research and due diligence or economic, macro and asset class research. Relevant and transferable internship experience can be considered in meeting this requirement.
    • CFA or interest in pursuing a CFA is preferred
    • Expertise and experience in private equity and real estate is a plus
    • Broad knowledge of capital markets and investment firms
    • Passion for capital markets and motivation and focus to outperform relevant benchmark(s)
    • Ability to work independently and as part of a team
    • Ability to manage and prioritize multiple projects, assignments, and deadlines
    • Strong analytical, writing and communication skills for interaction with colleagues, superiors, and external investment managers
    • AmeriCorps, Peace Corps, and other national service alumni are encouraged to apply for employment with PFM
    • For asset allocation and portfolio construction analyst:
      • Knowledge of quantitative, asset allocation, portfolio construction and/or data science research
      • Knowledge of statistical and econometric analysis is a plus
      • Knowledge of coding in R, MATLAB, VBA is a plus

     

    TOTAL REWARDS

    Compensation includes a competitive base salary, bonus eligibility, and comprehensive benefits package including flexible paid time off (PTO).  PFM also offers the option for participation in profit-sharing and 401K plans.

     

    Additional Information: PFM is not offering visa sponsorship for these positions.

     

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

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