PORTFOLIO MANAGER INVESTMENTS
Portfolio Manager Investments sits in the competitive class of New Jersey's state civil service, so reaching it runs through testing and an eligible list instead of a straight hire.
It lists a master's degree as the baseline, with an experience-based path open to those who do not hold the degree. Pay on the FY 2027 schedule runs $105,267 to $155,359.
How to apply
This title is filled by competitive examination.
See every real route in, and where to apply. We don't track live vacancies.
See where to apply for this title →Official job specification
The text below is the official specification published by the New Jersey Civil Service Commission. The plain-language summary and analysis above are derived from it by NJ Civil Service Navigator. Source: the official specification page at NJ CSC.
Definition
Under the general supervision of a supervisory official in the Department of the Treasury, analyzes, recommends, and implements portfolio strategies and tactics; ensures portfolio compliance with New Jersey statutes and State Investment Council regulations; implements portfolio management decisions consistent with goals and objectives of the division and the New Jersey State Investment Council; provides research and recommendations to the asset class head as well as the Investment Policy Committee and the State investment Council concerning existing and future investments within the alternative asset class; takes the lead over lower grade investment professionals and other support staff; does other related duties as required.
Examples of work
Performs the evaluation, monitoring and proactive due diligence for assigned assets or asset classes. Develops procedures for maintenance of complete files and statistical records of the industries, companies, and government agencies whose debt, stock or real estate is held by the New Jersey Investment Funds including companies and agencies that are prospective purchases or sales. Implements portfolio strategies and tactics, and coordinates purchase and/or sale of securities and their delivery. Maintains contact with individual or institutional portfolio clients to offer investment assistance or information. Assists asset class head in developing plans to prudently invest towards the desired long-term target asset allocation. Performs comprehensive and detailed due diligence on general partners (GP) and investment managers to identify new potential relationships for the Division of Investment as well as monitor existing relationships of the division. Confers with senior officers of companies whose stocks or bonds are owned or are being considered for purchase to monitor their operations and assess their prospects. Assists in the development of procedures for Division of Investment records relevant to dividend payments, stock dividends, stock splits, name changes, bond redemptions, rating changes, mergers, bond calls, and litigation. Attends in-person or virtual meeting to interview potential GPs which entails detailed discussions involving the GP's firm, their investment process, their historical investment performance, and their ability to retain top talent. Prepares detailed notes and codifying conclusions from the face-to-face meetings to properly evaluate GPs relative to their investment peers. Analyzes the alternative asset class existing portfolio to determine where potential risks and opportunities lie. Coordinates a plan to make investment decisions which will improve the overall portfolio positioning through new GP additions or elimination of existing relationships. Implements portfolio strategies and tactics, and coordinates commitments to new and existing GPs to prudently invest towards the desired long-term target allocation of the asset class. Attends industry conferences and consultant conferences to maintain and improve the understanding of the alternative asset class. May represent the investment officer or asset class head at meetings, Limited Partner Advisory Committee meetings, annual review meetings and conferences. Maintains email, video conference and telephonic contact with existing GP relationships to monitor and evaluate portfolio performance. Develops procedures for maintenance of complete files and statistical records of the existing and future GP relationships as it relates to alternative investments. Takes the lead over lower grade investment professionals and other support staff. Prepares clear, technically sound, accurate, and comprehensive reports of investment and related matters containing findings, conclusions, and recommendations. Prepares and maintains records concerning portfolios and ensures portfolio compliance with the laws and regulations of New Jersey. Provides advice and investment recommendations to the Investment Policy Committee as well as the State Investment Council and participates in discussions related to the referenced asset class. As required, represents the investment officer or asset class head at meetings, Limited Partner Advisory Committee meetings, annual review meetings and conferences. As directed, ensures the maintenance of essential division records and files. Will be required to learn how to utilize various types of electronic and/or manual recording and information systems used by the agency, office, or related units.
License
Appointee will be required to possess a driver's license valid in New Jersey only if the operation of a vehicle, rather than employee mobility, is necessary to perform essential duties of the position.
Knowledge, skills and abilities
Knowledge of alternative assets, financial markets, and pension fund operations. Knowledge of deal sourcing and pipeline management related to the specific alternative asset class. Knowledge of Limited Partnership agreements, and GP investment management agreements for the purpose of negotiating and structuring investment recommendations and potential new commitments to the head of the asset class. Knowledge of interest rates, comparative and relative yields, maturities, spreads, bid and ask prices, currencies, and of terminology peculiar to investment practices. Knowledge of the brokerage firms engaged in the securities business in the metropolitan area including New York, Philadelphia, and New Jersey. Knowledge of prospectuses, proxy statements, and bond indentures for the purpose of recommending an appropriate course of action to the director and deputy director. Knowledge of methods and techniques used by companies to finance growth, both short and long term, involving bank borrowing, commercial paper, sale of debt and/or equity, and the resulting impact on corporate financial strength and earnings. Knowledge of accounting practices and their impact on corporate balance sheets, earnings, and cash flow. Knowledge of the role of fiscal and monetary policy on interest rates, economic growth, and inflation. Knowledge of the typical business activities and operations of publicly and privately owned companies. Knowledge of the quality of credit of bond holdings and new issue bonds. Knowledge of the federal tax code as it relates to the corporate sector. Knowledge of foreign currency exchange and its impact on investment activity. Ability to perform detailed and comprehensive due diligence, both investment and operational, on a new existing GP relationship as it relates to a potential new commitment. Ability to communicate written and orally, the investment recommendation which includes addressing any investment concerns and any mitigating factors related to those concerns, to the appropriate senior staff as well as the Investment Policy Committee and State Investment Council. Ability to lead an investment due diligence meeting and evaluate a manager and the manager's performance, qualitatively and quantitatively. Ability to establish and maintain cooperative working relationships with the representatives of banks, investment houses, and with those groups and individuals engaged in the securities business and/or concerned with the work of the Division of Investment. Ability to establish and maintain cooperative working relationships with the asset class consultant, existing and potentially new GP relationships and any other groups that can help in the evaluation of the alternative asset class. Ability to read, interpret, and apply information on New Jersey laws pertaining to the administration and investment of various state funds, rules, regulations, and procedures of the Department of the Treasury and the State Investment Council relevant to state investments and funds analyses. Ability to read and interpret information on the brokerage firms engaged in the securities business in the metropolitan area, including New York, Philadelphia, and New Jersey, and to apply this information to specific situations. Ability to plan and direct portfolio management activities and projects. Ability to monitor and evaluate business activities and operations of publicly and privately owned companies. Ability to monitor and evaluate the quality of credit of bond holdings and new issue bonds, and to assist in development of methods to further improve this function. Ability to present oral or written and well-documented opinions and recommendations to the senior members of the Division of Investment staff. Ability to place orders and arrange for purchase and/or sale of securities. Ability to analyze and evaluate high risk investments. Ability to assign, instruct, and lead the work of investment professionals and other staff members. Ability to conduct productive interviews with senior management of publicly and privately owned companies. Ability to lead support staff in the use of proper judgment in the maintenance of essential files and records (corporate reports, newspaper clippings, brokerage reports, and so forth) applicable to monitoring the fundamental outlook for stocks or bonds. Ability to prepare detailed statistical, financial, and other reports containing findings, conclusions, and recommendations. Ability to prepare detailed and technical correspondence. Ability to learn how to utilize various types of electronic and/or manual recording and information systems used by the agency, office, or related units. Ability to read, write, speak, understand, and communicate in English sufficiently to perform the duties of this position. American Sign Language or Braille may also be considered as acceptable forms of communication. Persons with mental or physical disabilities are eligible if they can perform the essential functions of the job with or without reasonable accommodation. If the accommodation cannot be made because it may cause the employer undue hardship, such persons may not be eligible.
Note
The examples of work for this title are for illustrative purposes only. A position using this title may not perform all duties listed in this job specification. Conversely, all duties performed on the job may not be listed. Applicants must meet one of the following or a combination of both experience and education. Thirty (30) semester hour credits are equal to one (1) year of relevant experience. Nine (9) years of professional institutional investment experience with an investing entity, asset allocator such as a public or private pension plan, bank, insurance company, consultant, fund-of-funds manager, or professional money manager, including or supplemented by eighteen (18) semester hour credits in any one or combination of the following areas: accounting, finance, money and banking, statistics, economics, or investments. OR Possession of a bachelor's degree from an accredited college or university; and five (5) years of the above-mentioned professional experience, including or supplemented by eighteen (18) semester hour credits in any one or combination of the following areas: accounting, finance, money and banking, statistics, economics, or investments. OR Possession of a master's degree from an accredited college or university; and four (4) years of the above-mentioned professional experience, including or supplemented by eighteen (18) semester hour credits in any one or combination of the following areas: accounting, finance, money and banking, statistics, economics, or investments. "Professional experience" refers to work that is creative, analytical, evaluative, and interpretive; requires a range and depth of specialized knowledge of the profession's principles, concepts, theories, and practices; and is performed with the authority to act according to one's own judgment and make accurate and informed decisions. Experience involving retail investment and retail research will NOT be acceptable. Experience as a registered representative for individuals will NOT be acceptable.