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 a $60+ 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 North America Equities Team of OIM. The incumbent reports to the Deputy Director, Investments (I)- Global Equities and the Director.
Within delegated authority, the Senior Investment Officer will be responsible for the following:
• Portfolio management:
-construct the portfolio by selecting the securities/instruments with specific amounts in seeking to achieve the investment objective;
-monitor equity portfolio vs. benchmark;
-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; minimizing probability of significant under performance versus the benchmark; and achieving high information ratios; over calendar year, rolling 3-year and longer time periods;
• Research and Analysis: reviews and analyzes 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.
• Undertakes analysis of economic trends, liquidity flows, political and regulatory framework relevant to security selection in North America.
• Contributes 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.
• Further develops, enhances and documents the investment and decision-making process within the North America Equities Team.
• Manages, guides, develops and trains staff under his/her supervision, including effective management of underperformance, discipline and conduct issues, as well as fostering mobility and career pathing of staff.
• Manages, supervises and carries out the work programme of the unit under his/her responsibility. Co-ordinates the work carried out by the unit; provides programmatic and substantive reviews of drafts prepared by others.
• Provides substantive input in the preparation of position papers and reports for presentation to intergovernmental bodies such as the Advisory Committee on Administrative and Budget Questions, the United Nations Joint Staff Pension Board, and the General Assembly, as appropriate, by preparing reports on investment returns and strategy for review and discussion in regular scheduled internal portfolio review meetings.
• Participates in quarterly Investments Committee meetings when requested and prepares the required inputs; -initiates and leads special projects designed to improve the investment management decision process at OIM and enhance performance; and evaluates when requested the advice and recommendations provided by external advisors and investment managers.
• Ensures that the outputs produced by the unit maintain high-quality standards; that reports are accurate, clear, objective and based on comprehensive data. Ensures that all outputs produced by the unit under his/her supervision meet required standards before completion to ensure they comply with the relevant mandates.
• Prepares inputs for the work programme of the unit, determining priorities, and allocating resources for the completion of outputs and their timely delivery.
• Carries out administrative tasks necessary for the functioning of the unit, including preparation of budgets, assigning and monitoring of performance parameters and critical indicators, reporting on budget performance, preparation of inputs, evaluation of staff performance (e-PAS), interviews of candidates for job openings and evaluation of candidates.
• Ensures the highest quality financial resource management, seeks best value for money in use of the resources including, but not limited to, advisors, research providers, database, travel and consultants.
• Fosters teamwork and communication among staff in the unit and across organizational boundaries, actively contributes Team’s staff and other resources to cross-boundary projects benefiting OIM as a whole.
• Represents the Organization when requested at inter-agency meetings, seminars, etc. on substantive-related issues.
• Reports accurately and in a timely manner to the RSG for the Investments of the UNJSPF and the Director/Deputy Director when requested.
• Performs other duties as assigned.
Core Competencies:
• Professionalism: Demonstrated ability and sound knowledge of investing in North America 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; 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.
• 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 honours 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.
Managerial Competencies:
• 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 gain support; anticipates and resolves conflicts by pursuing mutually agreeable solutions; drives for change and improvements; 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.
• Managing Performance: Delegates the appropriate responsibility, accountability and decision-making authority; makes sure that roles, responsibilities and reporting lines are clear to each staff member; accurately judges the amount of time and resources needed to accomplish a task and matches task to skills; monitors progress against milestones and deadlines; regularly discusses performance and provides feedback and coaching to staff; encourages risk-taking and supports creativity and initiative; actively supports the development and career aspirations of staff; appraises performance fairly.
Advanced university degree (Master's or equivalent degree) in Business Admin. (MBA), Finance, Economics or related field is required. A first level university degree in combination with two additional 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 North American markets/equities is required.
Experience in buy-side portfolio management is desirable.
English and French are the working languages of the United Nations Secretariat. For this position, fluency in English is required. Knowledge of another official UN language is an advantage.
Evaluation of qualified candidates may include an assessment exercise which may be followed by competency-based interview.
• 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.
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.
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.