Real Estate Investment Officer

Job Description

ANNOUNCEMENT NUMBER: OST18-0023

OPEN:   September 11, 2018

CLOSE:  October 9, 2018 at 11:59 PM (or until filled)

LOCATION: Tigard, Oregon

Oregon State Treasury is recruiting for the position of Real Estate Investment Officer. This position will be located in our Tigard office. The primary purpose of this position is to support the day-to-day investment and administrative activities of the Real Estate Portfolio, and to share the ongoing oversight of various investments with the Senior Real Estate Investment Officer.  Beyond its performance objective, the Real Estate Portfolio seeks to provide a source of diversification for OPERF and, with a focus on durable current income and predictable cash flows, also provide OPERF less correlation to equity risks, public or private, as well as partial inflation characteristics. The Portfolio is comprised primarily of privately held commercial real estate, although it has a 0-10% allocation to publicly traded real estate investment trusts (REITs), and is diversified across major asset types, strategies and geographies.  Currently, the Real Estate Portfolio spans the following strategies: Core (60%), Value Add (20%), and Opportunistic (20%). 

Oregon State Treasury (OST) is led by Tobias Read, State Treasurer, a constitutional officer and statewide elected official.  OST is an organization with a wide range of financial responsibilities, including managing the state’s pension fund, issuing all state debt, and serving as the central bank for state agencies.  OST manages the daily investment of approximately $100 billion in assets, held in a diversified investment portfolio of domestic and international equities, fixed income securities, alternative and opportunistic investments, real estate and cash.  OST also manages a banking program that processes over $250 billion in transactions annually, a debt management program responsible for issuing and monitoring approximately $10 billion in state debt, a multi-faceted 529 savings plan, and an IRA based retirement savings program for the public. The 150+ member OST staff takes great pride in their statewide and national reputation for progressive approaches to service delivery.

The Investment Division, currently comprised of 50+ individuals, is responsible for managing the investment of the Oregon Public Employees Retirement Fund (OPERF), the State Accident Insurance Fund, the Oregon Short-Term Fund, the Common School Fund, and numerous other state and state agency accounts.  The Division also manages the investment program for the state’s deferred compensation plan, advises the Oregon 529 College Savings Board on its investment activities, and serves as staff to the Oregon Investment Council (OIC).  The Division oversees the actual investments, which are made by a select group of outside investment managers, as well as provides internal management capabilities for select mandates comprised of common stock, fixed income, and money market securities.

OST offers an attractive benefit package, which provides 95% or 99% contributions toward Public Employee Benefit Board (PEBB) sponsored plans, including medical, dental, vision, and basic employee life. Other benefits include participation in the Oregon Public Service Retirement Plan (OPSRP), paid vacation, paid holidays, paid personal leave, and paid sick leave. Optional benefits include optional life, short and long term disability, flexible spending accounts, long term care, and participation in the Oregon Savings Growth Plan (a deferred compensation plan).

Public Service Forgiveness Program: If you are employed by a government or not-for-profit organization, you may be able to receive loan forgiveness under the Public Service Loan Forgiveness Program (PSLF). Learn more to see whether you qualify at PSLF Program.

What we value…

INTEGRITY---PROFESSIONALISM---TRUST---INNOVATION---DIVERSITY---TRANSPARENCY

Treasury is committed to building and fostering a diverse and inclusive work environment. We believe that everyone comes to the table with a distinct point of view – one that is shaped by backgrounds, experiences, cultures, thoughts, and ideas. We embrace diversity and inclusion and believe it creates a culture of respect, innovation, and creativity that empowers our success and makes Oregon State Treasury an excellent place to work.

What you’ll do….

• Conduct independent evaluations of investment proposals.
• Screen prospective investments and perform due diligence.
• Work with legal counsel to negotiate terms and conditions.
• Manage relationships with existing general partners.
• Monitor partnership compliance.
• Make presentations at board meetings.
• Perform industry and portfolio analysis.

 We’re looking for an individual who is…

• A team player, with the ability to work effectively with others.
• A collaborative problem solver.
• Comfortable with change.
• Committed to public service.
• Able to manage multiple work streams and project initiatives.
• Excellent with oral and written communication.
• Proficient with conducting business by email, telephone, and in-person.

You must have the following:

• A Bachelor's Degree in Finance, Economics, Business or a related field or a Bachelor's Degree demonstrating the capacity for investment knowledge and skills; and
• A minimum of five years investment management experience including two years of asset/portfolio management experience.  MBA or similar graduate-level degree, Chartered Financial Analyst, or Chartered Alternative Investment Analyst designation may substitute for two of the five years’ experience; and
• A solid understanding of both public and private investment markets and real estate investment strategies.

Apply using the State of Oregon on-line recruitment system (click the "Apply Now" button to be directed to the State of Oregon on-line recruitment system). 

We plan to accept applications through October 9th; however, we may close this recruitment early if we receive a well-qualified pool.  If interested, please apply early. 

The on-line recruitment program will require you to:

1. Fill out the application
2. Upload your resume
3. Upload a cover letter that describes your experience, education and training related to the desired attributes listed below (no more than three pages in length):

• A broad demonstrated knowledge of real estate investment strategies and markets, as well as a familiarity with institutional managers in real estate investment management.  Describe how you obtained this knowledge and your plan to continue advancing your knowledge in your field. 
• Experience selecting, monitoring, and managing financial relationships. Describe your investment analysis skills. 
• Describe your ability and experience with communicating complex elements of real estate investment management (include how you articulate key issues to multiple constituencies).
• Educational background with a firm grounding in economics and investments.
• A demonstrated commitment to integrity, ethics, and independence.
• Ability and willingness to travel out of state and out of country.                                                                                                                    

BACKGROUND CHECK
Prospective employees are subject to an extensive background check that may include, but not be limited to, validation of all application materials, prior employment and personal references, credit history, driving records and fingerprint-based state and federal criminal and civil records.  Adverse background data may be grounds for immediate disqualification.

WORK AUTHORIZATION
OST does not offer visa sponsorships, and within three days of hire, the successful candidate will be required to complete the U.S. Department of Homeland Security Form I-9, confirming authorization to work in the United States.

VETERANS' PREFERENCE
Eligible veterans who meet the qualifications will be given veterans' preference. To receive preference you MUST attach appropriate documentation as outlined by the Department of Administrative Services at the following website: Veterans Resources.  You may also call the Oregon Department of Veterans' Affairs at 1-800-692-9666

OST is an equal opportunity, affirmative action employer committed to a diverse workforce.