Senior Investment Officer
New York City
Org. Setting and Reporting
The United Nations Secretary-General is responsible for the investment of the assets of the United Nations Joint Staff Pension Fund (UNJSPF). The Secretary-General has delegated this responsibility to the Representative of the Secretary-General for the investment of the assets of the UNJSPF (RSG). The RSG heads the Office of Investment Management (OIM), which manages approximately $70+ billion multi-asset class, global investment portfolio, about 85% of which is actively managed in-house. Asset classes under management comprise of global equities, fixed income, foreign exchange, private equity, real estate, infrastructure, timber, and commodities. OIM’s staff are all based in New York and come from over 30 countries. For more information, please visit OIM's website at https://oim.unjspf.org/.
This position leads the Europe Team within the Public Equities Section of the Office of Investment Management (OIM) of the United Nations Joint Staff Pension Fund (UNJSPF). The incumbent will report to the Director of the Public Equities Section, who reports directly to the Chief Investment Officer (CIO).
Within delegated authority, the incumbent would perform the following functions:
1) Invest and manage the assets of the Fund in the assigned region within the Public Equity universe to produce the optimal investment return that avoids undue risk, balancing long-term strategies effective over an investment cycle and short-term tactics to achieve results superior to the benchmarks:
a) Undertakes analysis of macroeconomic and sector/industry trends, political and regulatory framework, and capital market development; construct the portfolio with specific amounts in specific securities/instruments by analyzing information from various sources including the financial community, on-site visits and meetings with company managements, and ESG database as part of stock selection process.
b) Monitor equity portfolio vs. the respective benchmark for the assigned region (MSCI); determine and manage the tracking error risk of the portfolio within the risk budget allocated from time to time; ensure that the portfolio is in compliance with all investment guidelines and limits at all times; Take active risk positions based on clearly defined investment process with the objective of meeting or exceeding benchmark returns and using risk efficiently as demonstrated by: delivering stable, consistent alpha;
c) Minimizing probability of significant under performance versus the benchmark and achieving high information ratios: over calendar year, rolling 3-year and longer time periods;
d) Integrating Sustainable Investing principles into investment considerations.
2) Contribute actively to discussions and decisions in the Internal Investment Committee (IIC) on tactical asset allocation by major asset classes as well as regional allocation within equities and prepares/implements the asset/regional allocation strategies approved by the RSG.
a) Participate in Investments Committee meetings when requested and prepares the required inputs; Ensure that the Director of Public Equities, Chief Investment Officer of OIM and the Representative of the Secretary-General (RSG) for investments of UNJSPF have accurate and timely reports on investments and related matters for the UNJSPB, the ACABQ and the General Assembly.
3) Manages, supervises and carries out the work programme of the unit under his/her responsibility by: Complying with the Investment Policy, investment and risk guidelines, and all of the UN rules and regulations;
a) Ensuring that the investments are in line with the OIM investment policy;
b) Promoting a high standard of transparency and accountability in all aspects of the management of the assets of the Fund through accurate record keeping;
c) Directing production of investment data that is accurate and timely;
d) Ensures the highest quality financial resource management and seeking best value for money in use of the resources including, but not limited to, advisors, research providers, database, travel and consultants; interacting effectively with internal and external auditors to ensure that assets are fully protected.
4) Ensure that OIM maintains a high level of professional investment expertise and knowledge by:
a) Exploring published economic and investment material provided by investment banks, brokers, government sources and financial analysts; Participating in seminars on investment topics;
b) Carrying out administrative tasks necessary for the functioning of the unit, including budgets, conducting evaluation of staff performance (e-PAS), interviews of candidates for job openings and evaluation of candidates;
c) Effectively managing underperformance, discipline and conduct issues, as well as fostering mobility and career pathing of staff.
5) Perform other duties as assigned.
a) Initiate and lead special projects designed to improve the work programme at OIM and enhance performance.
b) Leads team members efforts to collect and analyze data and provides insight to identify trends or patterns for data-driven planning, decision-making, presentation and reporting. Ensures that everyone can discover, access, integrate and share the data they need.
• Professionalism: Demonstrated ability and sound knowledge of investing in European Public Equities markets; Demonstrated ability in meeting clearly defined investment objectives and risk management of portfolio; Demonstrated ability in effectively managing team of senior investment professionals and other staff; Ability to work under pressure accurately, efficiently and effectively; Having the highest level of integrity; The ability to analyze and interpret data in support of decision-making and convey resulting information to management; Shows pride in work and in achievements; demonstrates professional competence and mastery of subject matter; is conscientious and efficient in meeting commitments, observing deadlines and achieving results; is motivated by professional rather than personal concerns; shows persistence when faced with difficult problems or challenges; remains calm in stressful situations.
• Teamwork: Works collaboratively with colleagues to achieve organizational goals; solicits input by genuinely valuing others’ ideas and expertise; is willing to learn from others; places team agenda before personal agenda; supports and acts in accordance with final group decision, even when such decisions may not entirely reflect own position; shares credit for team accomplishments and accepts joint responsibility for team shortcomings.
• Accountability: Takes ownership of all responsibilities and honors commitments; delivers outputs for which one has responsibility within prescribed time, cost and quality standards; operates in compliance with organizational regulations and rules; supports subordinates, provides oversight and takes responsibility for delegated assignments; takes personal responsibility for his/her own shortcomings and those of the work unit, where applicable.
• Leadership: Serves as a role model that other people want to follow; empowers others to translate vision into results; is proactive in developing strategies to accomplish objectives; establishes and maintains relationships with a broad range of people to understand needs and to gain support; anticipates and resolves conflicts by pursuing mutually agreeable solutions; strives for change and improvement; does not accept the status quo; shows the courage to take unpopular stands. Provides leadership and takes responsibility for incorporating gender perspectives and ensuring the equal participation of women and men in all areas of work; demonstrates knowledge of strategies and commitment to the goal of gender balance in staffing.
• Judgement/Decision-making: Identifies the key issues in a complex situation, often with limited or imperfect data in a changing investment environment, and comes to the source of the problem quickly; gathers relevant information before making a decision; considers positive and negative impacts of decisions prior to making them; takes decisions with an eye toward the impact on others, the Fund, and on the Organization; proposes a course of investment actions or makes recommendations based on all available information; checks assumptions against facts; determines the actions proposed will satisfy the expressed and underlying needs for the decision; makes tough decisions when necessary.
Advanced university degree (Master's or equivalent) in Business Administration (MBA), Finance, Economics or related field. A first level university degree in combination with an additional two years of qualifying experience may be accepted in lieu of the advanced university degree.
Chartered Financial Analyst (CFA) certification or equivalent is desirable.
A minimum of ten years of progressively responsible experience and a proven track record of portfolio management and investment analysis covering European markets is required.
Experience in portfolio management and investment analysis covering Israel equities is desirable.
Experience in buy-side portfolio management is desirable.
English and French are the working languages of the UN Secretariat. For this position, fluency in English is required. Knowledge of another UN official language is desirable.Assessment
Evaluation of qualified candidates may include an assessment exercise which may be followed by competency-based interview.Special Notice
• Staff members are subject to the authority of the Secretary-General and to assignment by him or her. In this context, all staff are expected to move periodically to new functions in their careers in accordance with established rules and procedures.
• The United Nations Secretariat is committed to achieving 50/50 gender balance in its staff. Female candidates are strongly encouraged to apply for this position.
• For this specialized position, the lateral move requirement outlined in section 6.3 of the Staff Selection System, ST/AI/2010/3, does not apply.
• Appointment at the United Nations is subject to mandatory adherence to the United Nations Financial disclosure Programme. An appointment to the Office of Investment Management (OIM) of the UNJSPF additionally requires compliance with the rules and regulations pertaining to OIM's Code of Ethics, Personal Securities, Gift and Hospitality policies.
• For this position, applicants from the following Member States, which are unrepresented or underrepresented in the UN Secretariat as of 31 March 2022, are strongly encouraged to apply: Afghanistan, Andorra, Angola, Antigua and Barbuda, Bahrain, Belize, Brunei Darussalam, Cabo Verde, China, Comoros, Cuba, Cyprus, Democratic People's Republic of Korea, Djibouti, Dominica, Equatorial Guinea, Gabon, Grenada, Guinea-Bissau, Haiti, Israel, Japan, Kiribati, Kuwait, Lao People's Democratic Republic, Lesotho, Liberia, Libya, Liechtenstein, Luxembourg, Marshall Islands, Federated States of Micronesia, Monaco, Mozambique, Namibia, Nauru, Norway, Oman, Palau, Papua New Guinea, Paraguay, Qatar, Republic of Korea, Saint Lucia, Saint Vincent and the Grenadines, Samoa, San Marino, Sao Tome and Principe, Saudi Arabia, Solomon Islands, Somalia, South Sudan, Thailand, Timor-Leste, Turkmenistan, Tuvalu, United Arab Emirates, United States of America, Vanuatu.
United Nations Considerations
According to article 101, paragraph 3, of the Charter of the United Nations, the paramount consideration in the employment of the staff is the necessity of securing the highest standards of efficiency, competence, and integrity. Candidates will not be considered for employment with the United Nations if they have committed violations of international human rights law, violations of international humanitarian law, sexual exploitation, sexual abuse, or sexual harassment, or if there are reasonable grounds to believe that they have been involved in the commission of any of these acts. The term “sexual exploitation” means any actual or attempted abuse of a position of vulnerability, differential power, or trust, for sexual purposes, including, but not limited to, profiting monetarily, socially or politically from the sexual exploitation of another. The term “sexual abuse” means the actual or threatened physical intrusion of a sexual nature, whether by force or under unequal or coercive conditions. The term “sexual harassment” means any unwelcome conduct of a sexual nature that might reasonably be expected or be perceived to cause offence or humiliation, when such conduct interferes with work, is made a condition of employment or creates an intimidating, hostile or offensive work environment, and when the gravity of the conduct warrants the termination of the perpetrator’s working relationship. Candidates who have committed crimes other than minor traffic offences may not be considered for employment.
Due regard will be paid to the importance of recruiting the staff on as wide a geographical basis as possible. The United Nations places no restrictions on the eligibility of men and women to participate in any capacity and under conditions of equality in its principal and subsidiary organs. The United Nations Secretariat is a non-smoking environment.
The paramount consideration in the appointment, transfer, or promotion of staff shall be the necessity of securing the highest standards of efficiency, competence, and integrity. By accepting an offer of appointment, United Nations staff members are subject to the authority of the Secretary-General and assignment by him or her to any activities or offices of the United Nations in accordance with staff regulation 1.2 (c). In this context, all internationally recruited staff members shall be required to move periodically to discharge new functions within or across duty stations under conditions established by the Secretary-General.
Applicants are urged to follow carefully all instructions available in the online recruitment platform, inspira. For more detailed guidance, applicants may refer to the Manual for the Applicant, which can be accessed by clicking on “Manuals” hyper-link on the upper right side of the inspira account-holder homepage.
The evaluation of applicants will be conducted on the basis of the information submitted in the application according to the evaluation criteria of the job opening and the applicable internal legislations of the United Nations including the Charter of the United Nations, resolutions of the General Assembly, the Staff Regulations and Rules, administrative issuances and guidelines. Applicants must provide complete and accurate information pertaining to their personal profile and qualifications according to the instructions provided in inspira to be considered for the current job opening. No amendment, addition, deletion, revision or modification shall be made to applications that have been submitted. Candidates under serious consideration for selection will be subject to reference checks to verify the information provided in the application.
Job openings advertised on the Careers Portal will be removed at 11:59 p.m. (New York time) on the deadline date.
THE UNITED NATIONS DOES NOT CHARGE A FEE AT ANY STAGE OF THE RECRUITMENT PROCESS (APPLICATION, INTERVIEW MEETING, PROCESSING, OR TRAINING). THE UNITED NATIONS DOES NOT CONCERN ITSELF WITH INFORMATION ON APPLICANTS’ BANK ACCOUNTS.