1114-Senior Portfolio Manager

Senior Portfolio Manager

Job classification

Current compensation plan

Effective: Jan 04, 2025

Job description

CITY AND COUNTY OF SAN FRANCISCO

DEPARTMENT OF HUMAN RESOURCES

Title: Senior Portfolio Manager

Job Code: 1114

INTRODUCTION

The Senior Portfolio Manager is responsible for the governance and oversight of an asset class. A Senior Portfolio Manager position is subject to meaningful oversight and supervision from a Managing Director (or Director, as appointed by a Managing Director).

The Senior Portfolio Manager oversees a large portfolio of pension plan assets; provides advice on manager recommendations for the pension plan; is responsible for conducing complete and thorough due diligence on prospective managers; is responsible for the complete monitoring of existing managers; provides advice on portfolio construction for an asset class; and typically is responsible for the supervision and activities of one or more investment and/or administrative staff.

DISTINGUISHING FEATURES

The 1114 Senior Portfolio Manager is a mid-level management position with primary responsibility for the governance and management of a large portfolio of assets for one or more asset classes. The Senior Portfolio Manager carries out their responsibilities with a meaningful degree of supervision and a limited degree of independence from a Managing Director (or Director, as assigned by a Managing Director). The Senior Portfolio Manager has an above average level of expertise in the management of a particular asset class.

SUPERVISION EXERCISED

Senior Portfolio Manager will typically be responsible for the supervision of one or more investment analysts and/or administrative staff.

MAJOR, IMPORTANT, AND ESSENTIAL DUTIES

According to Civil Service Commission Rule 109, the duties specified below are representative of the range of duties assigned to this job code/class and are not intended to be an inclusive list.

1. Conducts thorough and ongoing due diligence of existing external investment managers. Maintains high level of awareness of changes in a manager�s organization, management team, headline news, and all other aspects that could affect our investment.

2. Responsible for monitoring an external manager�s investment performance and the factors affecting performance, including material differences versus the manager�s underlying benchmark.

3. Conducts complete and thorough due diligence on prospective new managers. Responsible for recommending new managers for the portfolio to the Managing Director.

4. Prepares detailed investment recommendations and reports to the Director, Managing Director, Chief Investment Officer and Retirement Board for review and approval.

5. Reviews, evaluates and negotiates key partnership terms and documents. Responsible for complete due diligence on a manager�s offering memorandum, subscription documents, and other materials related to an existing or prospective investment.

6. Responsible for maintaining distributions from external managers, furnishing capital calls to external managers on a timely basis, and other functions related to managing the relationship with external managers.

7. Responsible for the day-to-day relationship with external managers for a particular asset class. Responsible for representing SFERS with distinction and class to external managers and other stakeholders.

IMPORTANT AND ESSENTIAL KNOWLEDGES, SKILLS, AND ABILITIES

The Senior Portfolio Manager has the ability and skill to: analyze and evaluate external investment managers and strategies; interpret monetary and fiscal policy and gauge their impact on financial markets and specific investment portfolios; understand, evaluate, and implement complex and diversified security portfolios; evaluate and communicate investment concepts, policies, and strategies to the Director, Managing Director, Chief Investment Officer and Retirement Board; assist in the formulation of overall investment strategy for an asset class; motivate and supervise investment professional and support staff assigned to asset class; and utilize investment information sources such as, Bloomberg, Albourne, Cambridge, Mercer, Wilshire, Zephyr, Style Research, Risk Metrics, Northern Trust Passport, and other quantitative products & methods. The Senior Portfolio Manager exercises these skills and abilities with an above average level of expertise.

The Senior Portfolio Manager has knowledge of: economics and financial trends of domestic and international markets; indexes for identifying appropriate benchmarks to serve as guide posts in evaluating manager tracking error and overall risk assessment; and personal computers and applicable software products such as Microsoft Word, Excel, PowerPoint, and Outlook.

MINIMUM QUALIFICATIONS

These minimum qualifications establish the education, training, experience, special skills and/or license(s) which are required for employment in the classification. Please note, additional qualifications (i.e., special conditions) may apply to a particular position and will be stated on the exam/job announcement.

Education:

Possession of a baccalaureate degree from an accredited college or university with major coursework in finance, economics, business administration, accounting, statistics, or related field.

Experience:

Six years of investment experience with an investment management firm, pension plan, university, endowment, foundation, corporation, family office, or consulting firm.

License and Certification:

Substitution:

Possession of a graduate degree in Business Administration, Finance, Statistics, Investment Management, Economics or similar field, or possession of the Chartered Financial Analyst (CFA) designation, may be substituted for an undergraduate degree in a different field than described above.

Three years of investment management experience at the Senior Portfolio Manager level or higher with an investment management firm, pension plan, university, endowment, foundation, corporation, family office, consulting firm or other investment institution with at least $1 billion in assets, or seven years of such responsibility with a firm of any size, may substituted for an undergraduate degree in a different field than described above.

SUPPLEMENTAL INFORMATION

PROMOTIVE LINES

To: 1115 Director

From: None

ORIGINATION DATE: 10/05/2015

AMENDED DATE:

BUSINESS UNIT(S): COMMN

Standard information

Disaster service work

All City and County of San Francisco employees are designated Disaster Service Workers through state and local law (California Government Code Section 3100-3109). Employment with the City requires the affirmation of a loyalty oath to this effect. Employees are required to complete all Disaster Service Worker-related training as assigned, and to return to work as ordered in the event of an emergency.

Sources: San Francisco Open Data Portal: Compensation plan table