Examples of DutiesDuties may include, but are not limited to, the following:- Assist in developing objectives and guidelines for the MercedCERA investment program and writing policies; assist in the formulation of investment strategies and tactics.
- Research and analyze pension fund trends and new product developments in the institutional investment industry; analyze economic and financial markets on a global basis.
- Prepare special analysis of the investment portfolio; develop investment improvement recommendations; conduct research and screen investment opportunities and oversee the general investment process.
- Prepare and present written and oral reports to and conduct workshops for the MercedCERA Board, and stakeholders including but not limited to retirees, employees, and other groups as directed.
- Provide primary support to Investment Manager Searches, Watch Status and Terminations.
- Oversee investment contract processes with knowledge of current market terms; prepare Request for Proposals; assist in benchmarking investment services providers performance; meet with investment managers to evaluate products and firms; assist in the review, negotiation and administration of contracts for services, including alternative investments.
- Attend monthly Board meetings; develop and present the results of analytical projects to the Board; study and make recommendations to the Retirement Board based on internal research and/or advice received from outside consultants; properly maintain the asset allocation plan approved by the Retirement Board.
- Participate in evaluating the investment performance of investment managers and MercedCERA's portfolio; evaluate trade cost analysis of MercedCERA's investment managers; act as primary liaison to investment managers in monthly and quarterly reporting and monitors their compliance with Board established reporting deadlines and report formats; monitor and assist in ensuring compliance of the Retirement System's investment managers with the Board's investment policies and guidelines.
- Coordinate portfolio rebalancing; monitor allocation mix of short-term investment funds; recommend changes to the MercedCERA Investment Policy Statement.
- Perform compliance audits of investment managers; verify and track fees for investment managers and consultants.
- Calculate, analyze and reconcile alternative investment account fee structures, expenses and performance measures.
- Review investment training opportunities with the Board and Staff; attend Client and Investment Conferences; meet with banking, financial and investment organizations to discuss investments, financial markets and economic trends.
- Apply statistical principles and methodologies to data sets. Principles and methodologies may include such things as linear regression, multiple linear regression, regime switching return models, mean reversion models, auto regressive/moving average models, asset liability modeling, confidence intervals, hypothesis testing and tests for collinearity.
- Provide peer review and technical direction and guidance to staff.
- Perform special projects as assigned.
- Perform related duties as assigned.
Minimum QualificationsExperience:Any combination of education and experience that would provide the opportunity to acquire the knowledge and abilities listed. Normally this would include possession of a Bachelor's degree, or equivalent, in finance, statistics, actuarial science, mathematics, applied mathematics, economics, business administration or closely related field.
AND Four (4) years of investment experience in a public agency or financial institution which involved investment portfolio management, formulating, recommending and implementing investment strategies, economic analysis, and/or investment reporting or performance measurement.
OR A Master's degree, or equivalent, with an emphasis in any of the above listed areas and three years of experience in the above listed areas. Experience in retirement benefits administration and pursuit or possession of the Chartered Financial Analyst (CFA) designation is highly desirable.
Essential FunctionsESSENTIAL FUNCTIONS- Communicate effectively with others in person, in writing, and over the telephone or teleconferencing software.
- Operate a personal computer and other office equipment, including repetitive hand arm motions.
- Analyze complex financial investments and statistical analysis and develop appropriate conclusions.
- Monitor investment data and ensure adherence to MercedCERA directives, policies, and regulations.
- Meet deadlines under stressful conditions; complete multiple of priority projects with conflicting deadlines.
- Maintain, confidential information in accordance with legal standards/and or MercedCERA regulations.
- Resolve conflicts and respond appropriately to complaints.Prepare and write reports or presentations.
- Establish and maintain effective working relationships with all MercedCERA stakeholders.
- Establish, implement and achieve goals and objectives.
- Train, evaluate, and supervise staff.
- Conduct presentations to Boards and management groups.
- Develop complex plans and reports.
- Frequent use of depth perception, peripheral vision and color perception.
- Frequently lift, carry, reach, push, pull, twist and manipulate large and small objects.
- Frequent use of hand-eye coordination; Normal dexterity, frequent holding and grasping.
- Occasionally lift and carry up to 40 pounds.
- Regular attendance is an essential function.
KNOWLEDGE OF:- The principals and practices of institutional investing for a public pension plan.
- Financial analysis.
- The principals of pension administration and retirement benefits administration.
- Risk monitoring, economic and market trends and conditions.
- Applicable investment laws, rules and regulations.
- Benchmarking.
- Administrative analysis.
- Statistics and actuarial analysis.
- 1937 (California) County Employees Retirement Act, and other applicable State, Federal and local regulations; Principles and practices of policy development and implementing.
- Modem office procedures, methods and computer equipment.
- Principles of effective employee management, supervision, training, and development.
ABILITY TO:- Plan, organize, direct, manage, and coordinate the operations, functions, and investment strategies of MercedCERA.
- Evaluate, monitor, and strategically manage public pension system investment portfolio.
- Analyze and communicate the strategies related to complex financial investments.
- Perform complex financial and statistical analysis.
- Develop and maintain statistical records and reports for MercedCERA investment portfolio.
- Establish and maintain investment policies and procedures for MercedCERA investments.
- Prepare and write reports or presentations.
- Establish and maintain effective working relationships with all MercedCERA stakeholders.
- Effectively communicate verbally and in writing.
- Make presentations to Boards and management groups.
- Develop complex plans and reports.
- Ability to work collaboratively with staff in a small office.
- Work cooperatively with the MercedCERA Plan Administrator.
- Provide direction, supervision, training, development, and evaluation of work performance for assigned MercedCERA staff.
ALLOWANCES
EXPENSE ALLOWANCE
$100 per month expense allowance.
HOLIDAYS & LEAVES
MANAGEMENT LEAVE
96 hours per Fiscal Year (prorated for the time remaining in the fiscal year).
VACATION
10 days the first 5 years of continuous employment (limited to a maximum of 160 hours), 15 days in the second 5 years of continuous employment (limited to a maximum of 240 hours), and 20 days after 10 years of continuous employment (limited to a maximum of 320 hours). Optional annual sell back of a portion of accumulated vacation leave hours (maximum - 40 hours).
SICK LEAVE
.0462 hours sick leave for each paid regularly scheduled work hour. 12 days (96 hours per year) with unlimited accumulation. Optional annual buy back of a portion of accumulated sick leave hours upon meeting certain criteria.
HOLIDAYS
Twelve paid holidays annually plus one optional holiday.
BEREAVEMENT LEAVE
Three (3) regularly scheduled work days or five (5) days if distance traveled over 500 miles one-way.
INSURANCE
HEALTH INSURANCE
Medical Insurance - Merced County offers five Medical Plans and contributes towards employee and dependent premiums. Medical plan availability varies based on bargaining units. - Anthem 200 EPO
- Anthem 500 EPO
- Anthem 1500 EPO
- Anthem HDHP (High Deductible Medical Plan) with Health Savings Account (HSA)
- Anthem HDHP (High Deductible Medical Plan) without Health Savings Account (HSA)
Dental Insurance -Delta Dental - Calendar Year Maximums
- County pays 100% of the premium for employees and 50% for dependent(s)
Vision Insurance - VSP - County pays 100% of the premium for employees and 50% for dependent(s)
DISABILITY INSURANCE Management Disability Plan includes a comprehensive Short/Long Term Disability plan paid for by the County. LIFE INSURANCE
$80,000 County-paid Management Life Insurance coverage. $5,000 County-paid Life Insurance coverage (Accidental Death and Dismemberment included). Voluntary Term Life and Universal Life Insurance available - premium paid by employee.
RETIREMENT
DEFERRED COMPENSATION
The County offers a 457 Deferred Compensation Plan. Employees choose their investment funds and can make pretax contributions to the plan up to the maximum allowable.
EXTRA HELP EMPLOYEES DO NOT QUALIFY FOR COUNTY BENEFITS.
MERCED COUNTY EMPLOYEE RETIREMENT ASSOCIATION The retirement plan is a defined benefit plan administered pursuant to the County Employees Retirement Law of 1937 and other provisions of the California Government Code. MCERA members also pay into Social Security.The applicable benefit formula is dependent upon your hire date with an MCERA employer; yourpension amount will be determined by your age, years of service and final compensation amount. EMPLOYEE PROGRAMS
EMPLOYEE ASSISTANCE PROGRAM (EAP)
Anthem EAP services provides up to five face-to-face counseling sessions per incident and provides a toll-free "800" hotline available 24/7 for emergencies and crisis intervention. EAP services include counseling services, legal services, financial services and work-life resource services.
EMPLOYEE TICKETS, COUPONS, and DISCOUNTS
The County of Merced has partnered with Employee Savings Tickets to provide discounted coupons and tickets for all county employees to attractions throughout the state and out-of-state. The discounts and coupons are available for shopping, movies, sporting events, theme parks, zoos and aquariums and much more.
THIS BULLETIN IS NOT A CONTRACT AND DOES NOT CREATE CONTRACTUAL OR LEGAL RIGHTS ON BEHALF OF ANY EMPLOYEE. THIS BULLETIN IS SUBJECT OF BEING SUPPLEMENTED, MODIFIED, WITHDRAWN OR OTHERWISE CHANGED PENDING LABOR AGREEMENTS AND/OR AT THE DISCRETION OF THE COUNTY EXECUTIVE OFFICER OR AS THE BOARD OF SUPERVISORS DEEM NECESSARY.
For answers to specific questions regarding employee benefits, please call Human Resources at 209.385.7682.Closing Date/Time: Continuous
