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 is, in turn, assisted in this function by the Office of Investment Management (OIM). OIM manages approximately $70+ billion multi-asset class, global investment portfolio, about 85% of which is actively managed in-house. Asset classes under management comprise global equities, fixed income, foreign exchange, private equity, real estate, infrastructure, timber and commodities. OIM’s staff are all based in New York but come from over 30 countries. For more information, please visit OIM's website at https://oim.unjspf.org/.
This position is located in the Fixed Income Team of OIM. The incumbent reports to the Investment Officer for Currency Management and Treasury.
Since this position covers international investment markets, while the incumbent is expected to provide coverage during the core hours of 9.00 AM to 5.00 PM NY time, there will be an occasional adhoc requirement to work during Asian hours (no later than 11.00 PM NY time).
Under the overall supervision of the Investment Officer, the incumbent will perform the following duties:
1. Assist the Investment Officer in managing the Investment cash/short term portfolio in USD, by investing the funds in high-grade securities and money market instruments including bonds, deposits, CDs, CPs, bills, etc.
2. Assists the Investment Officer in monitoring the overall cash flows for the Fund and Cash balances in over 34 currencies.
a. Assists the P4 CM & T in executing Foreign Exchange transactions using electronic trading platforms. Working beyond regular hours will be required, especially when dealing with Asian currencies.
b. Monitors and manages excess cash balances and deploys cash into Money Market instruments in order to maximize returns
c. Complies with risk control parameters as delineated in the investments Policy and Procedures Manual with a goal to produce the optimal investment return that avoids undue risk.
d. Conducts portfolio review periodically and presents in the Portfolio Review Meeting.
e. Conducts portfolio analysis using risk tools and analytical tools.
3. Conducts careful and thorough investment research:
a. Performs fundamental analysis through financial statements, corporate announcements, market news, and other publicly available information.
b. Reviews investment research and discuss with strategists, economists, security analysts through brokerage community and the Advisors/Research Providers.
c. Attends investment conferences and Seminars to access to academia and industry experts.
d. Assists in evaluating the quality of the advice of recommendations submitted by the Fund's research provider and appraise performance of external managers employed in the region.
4. Responsible for the active re-investment and management of the Investment cash portfolio and monitoring daily cash requirements (cash management) for liquidity of global investment portfolios and OIM funding needs.
a. Reviews investment research and discuss with strategists, economists, security analysts through brokerage community and the Advisors/Research providers.
b. Engages with senior members of corporate management to review their business and corporate strategies.
c. Attends investment conferences and seminars to access academia and industry experts
d. Conducts portfolio analysis using risk tools and analytical tools.
e. Ensures Fund’s four investments criteria, i.e. safety, profitability, liquidity, and convertibility,
f. Makes specific investment recommendations to achieve optimum investment performance with carefully review of the portfolio’s investment objectives and risk tolerance,
g. Presents and discusses investment recommendations to the fixed income department where appropriate,
h. Participates in the discussions and development of investment recommendations for fixed income asset allocation for the Fund.
5. Monitors currency exposures incorporating cash flow forecasting and executes foreign exchange transactions in major and exotic currencies to fund global operations
a. Ensures the Fund's four investments criteria: i.e. safety, profitability, liquidity, and convertibility.
b. Makes specific investment recommendations to achieve optimum investment performance with careful review of the portfolio's investment objectives and risk tolerance.
c. Presents and discusses investment recommendations to the Senior Investment Officer of the relevant asset class/region
d. Participates in the discussions and development of investment recommendations for asset allocation for the Fund
e. Assists in the preparation of reports accurately and timely to the Representative of the Secretary-General for the Investments of the UNJSPF and Director of Fixed Income when requested.
f. Assists the Director of Fixed Income in reporting on investments and related matters to governing bodies.
g. Collects and analyzes data to identify trends or patterns and provide insights through graphs, charts, tables and reports using data visualization methods to enable data-driven planning, decision-making, presentation and reporting.
• Professionalism: Demonstrate in-depth practical working experience of all aspects of investment strategies including money markets, fixed income, equity and currencies. Proven analytical skills and ability to provide well-reasoned advice in the area of investment, types of market instruments and financial institutions. Ability to formulate new strategies to investment. In-depth experience in managing foreign exchange risk, executing complex transactions specifically in restricted markets. Deep understanding and experience as it relates to rules and regulations in all markets, with emphasis on emerging markets with strict Foreign Exchange regulations. 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. Takes responsibility for incorporating gender perspectives and ensuring the equal participation of women and men in all areas of work.
• 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.
• 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.
Advanced university degree (Master's or equivalent) in Business and Administration (MBA), Finance, Economics or related field is required. A first-degree level university degree in combination with two additional years of experience in investment management may be accepted in lieu of the advanced degree.
A minimum of five years of progressively responsible work experience managing a USD liquidity/short term Investment Portfolio and good knowledge in Foreign Exchange management and trade execution, with emphasis on Emerging Market currencies is required.
Buy-side cash management and portfolio management experience is required.
Buy side experience in Fixed Income / Money market products and Foreign Exchange is desirable.
Experience in credit and ISDA Master Agreement negotiations is desirable.
Two years or more of experience in data analytics or related area 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.
• 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, Panama, 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.