Job Opening

Posting Title: Investment Intern (Multiple Positions), I (Temporary Job Opening)
Job Code Title: INTERN - INVESTMENT MANAGEMENT
Department/Office: United Nations Joint Staff Pension Fund
Duty Station: NEW YORK
Posting Period: 26 December 2018 - 17 February 2019
Job Opening Number: 18-Investment Management-UNJSPF-109380-J-New York (A)
Staffing Exercise N/A
United Nations Core Values: Integrity, Professionalism, Respect for Diversity
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Org. Setting and Reporting

The Office of Investments Management (OIM) is responsible for the day-to-day management of the investments of the UN Joint Staff Pension Fund assets. OIM manages a $65 billion multi-asset, 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, but come from over 30 countries. OIM is currently recruiting interns for a 3 to 6 month period during 1 April 2019 through 31 December 2019.

We are seeking highly motivated graduate or undergraduate students who wish to gain professional experience in investment matters pertaining to the investment of assets within an international organization.

This internship will include practical experience, which provides the opportunity to work in a multicultural international organization. Under the supervision of an OIM staff member, interns are assigned to specific projects and tasks.

Responsibilities

OIM is looking for multiple interns in 3 broad functional areas under investment. In your cover letter, please rank your areas of interest i.e. “Investment Research & Quantitative Analysis”, “Procurement & Budget” and “Risk Management” in order of preference.

I. Investment Research & Quantitative Analysis (multiple teams)

1) Database Management and Quantitative Research in actively managed public markets:
• Support database management and quantitative research
• Review and enhance all existing team’s spreadsheets used in the investment process
• Create reports from various databases, incorporating key financial, technical, and ESG data. Analyze and present data from financial systems like Bloomberg, Credit Suisse HOLT, RepRisk , MCSI ESG database and Northern Trust
• Develop and automate programs using Microsoft Excel Visual Basic
• Optimize process for program trading
• Develop an automated process for bulk data download, database integration, analysis, and uploading
• Develop a tool to conduct broker evaluation and to assist with meeting arrangements
• Develop/automate research material for Fixed Income and Internal Investment meetings
• Implement/automate a buy/sell signal system for Fixed income markets.

2) Environmental Social and Governance (ESG) factor analysis:
• Coordinate the development a strategy to determine how to best integrate ESG reports and scores into the portfolio investment process
• Assess ESG related resources
• Develop a template highlighting key ESG issues / scores for a given equity
• Construct ESG rankings
• Develop a flagging system to generate a weekly report of key ESG threats
• Develop a system that identifies discrepancies in ESG scores between Vendors.

3) External managers group:
• Assist in external manager searches
• Analyze performance and portfolio characteristics
• Identify trends and issues to recommend viable managers
• Utilize an investment manager database to evaluate whether funds and a group of managers fit together
• Communicate with prospective managers
• Prepare charts for presentations
• Automate spreadsheets to analyze manager’s performance and risk characteristics
• Research on various ad-hoc financial market topics.

II. Procurement & Budget

Collect and analyze data:
• Create a database or excel pivot table for easy retrieval and manipulation
• Perform an inventory of financial data and records regarding the Pension Fund’s administrative budget, budget performance and expenditures and payments
• Review and perform an inventory on existing data regarding OIM contracts.

III. Risk Management

Template Reports:
• Update VBA applications for the tracking error (TE) simulations
• Create a power point presentation for factor performance attribution
• Design template reports using MSCI RiskMetrics and Barra. Batch Process: Automatically load the data feed from RiskMetrics and Barra1 applications into the VBA application for TE simulations
• Create power point presentation for factor performance attribution.

Competencies

PROFESSIONALISM: Applicants must demonstrate a keen interest in the work of the United Nations and have a personal commitment to the ideals of the Charter of the United Nations. They must have an ability to work effectively in a team in a multicultural environment, and to work collaboratively with colleagues and external counterparts. In addition, they must have good drafting and oral communication skills, and be computer literate in standard software applications. 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.
COMMUNICATION: Speaks and writes clearly and effectively; listens to others, correctly interprets messages from others and responds appropriately; asks questions to clarify, and exhibits interest in having two-way communication; tailors language, tone, style and format to match audience; demonstrates openness in sharing information and keeping people informed.
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.

Education

To qualify for an internship with the United Nations Internship Programme, applicants, at the time of application, must meet one of the following requirements:

(a) be enrolled in a graduate school programme (second university degree or equivalent, or higher);
(b) be enrolled in the final academic year of a first university degree programme (minimum Bachelor's level or equivalent);
or (c) have graduated with a university degree (as defined above) and, if selected, must commence the internship within a one year period of graduation.

Candidates working towards a Master's degree, MBA, or other graduate program in either Economics, Finance, Business Administration, Statistics, Mathematics, IT or Engineering majors with basic knowledge of finance/economics and/or a strong foundation in statistics and data analytics and quantitative modelling skills are preferred. Extensive course work in finance and/or quantitative modeling is desirable.

Proficiency in Microsoft Office and in particular, advanced knowledge of Excel (including VBA) is desirable.

Work Experience

Applicants are not required to have professional work experience for participation in the programme. Applicants are strongly encouraged to complete and attach a 1-2 Page CV/Resume (see Special Notice for details).

The following criteria are desirable in the respective team listings:

Demonstrated ability to synthesize information and present it in a concise, applicable and relevant format; Quantitative and data analytical skills; Experience in any of the following: economic/market research with an investment institution; Risk management or analyzing large data sets; Financial statement analysis and equities valuation (including ability to create DCF model); Bloomberg (including API functions), MSCI Barra, Risk Metrics, HOLT Lens software; Strong demonstrated interest in ESG (Environment, Social, and Governance) and sustainable investment; Proficiency in Microsoft Office; Advanced knowledge of Excel (including Excel VBA Programming and Pivot Tables); Other finance related issues such as budget preparation and monitoring and/or contract management and/or processing of payments.

Languages

English and French are the working languages of the United Nations Secretariat in New York. For the internship advertised, proficiency in oral and written English is required. Knowledge of another United Nations official working language, i.e. French, Arabic, Chinese, Russian or Spanish, is an advantage. Knowledge of Portuguese and/or Korean is an advantage.

Assessment

Should there be a need for an intern that matches the applicant's profile, she/he will be contacted directly by the Division. Due to the large number of applications, only short-listed applicants will be contacted.

Special Notice

TO APPLY (in addition to the PHP):

1) Complete a 2 paragraph cover letter highlighting how you meet the required and desirable education and work experience criteria. In addition, please include the following in your cover letter:
a) Title of the degree being pursued and the expected graduation date or actual graduation date, if graduated within the past year;
b) Your availability for the internship with OIM for at least a 3 month period;
c) In your cover letter, please rank your areas of interest, i.e. Investment Research & Quantitative analysis, Procurement & Budget, and Risk Management, in order of preference.

2) We strongly recommend attaching a 1-2 Page CV/Resume

PLEASE NOTE THAT INCOMPLETE APPLICATIONS WILL NOT BE REVIEWED.

Important Note on General UN rules on internships:

• The duration of the internship is a minimum of three (3) months to a maximum of six (6) months, depending upon the particular needs of the division.
• UNJPSF internships are not paid. Travel costs, travel arrangements (including visas), and living accommodations are the responsibility of the intern or their sponsoring institution.
• UNJSPF interns are not eligible to apply for, or be appointed to, any position in the professional or above categories, within the UN Secretariat for a period of six (6) months following the end of their internship. Any employment with the UN at that point in time shall be subject to established recruitment and selection procedures.
• Internship positions are full-time. For more information on the UN internship programme, please visit the UN internet site at: https://careers.un.org/lbw/home.aspx?viewtype=IP

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 or sexual abuse, or crimes other than minor traffic offences, 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.

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.

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.

No Fee

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.

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