The Senior Investment Officer-Fixed Income is responsible for overseeing the State Board of Administration's (SBA) fixed income investments, developing and implementing strategic objectives, and leading the asset class team. The Senior Investment Officer – Fixed Income works with the Executive Director & Chief Investment Officer (ED & CIO) and other senior (SBA) staff to fulfill the objectives of the organization. The Senior Investment Officer-Fixed Income reports to the Executive Director & Chief Investment Officer.

Supervises the implementation of the Fixed Income portfolios and Short Term Funds for the SBA's investment mandates including the Florida Retirement System Defined Benefit Pension Plan, the Florida Hurricane Catastrophe Fund, the Florida Lottery and the Debt Service Funds for State Bonds

• Structures Fixed Income portfolio allocation to achieve long-term return objectives
• Recommends new manager fundings, new investment programs and manager terminations
• Supervises the manager selection process, the manager monitoring process, internal management, and the trading function
• Allocates workflow and sets priorities of staff and Fixed Income consultants
• Manages liquidity raises to meet beneficiary payments and asset allocations
• Operates asset class within portfolio guidelines and risk budget parameters
• Oversees selection of and contracting with service providers and ongoing implementation of systems
• Identifies opportunities for increased cost and resource efficiencies
• Oversees Securities Lending activity for the SBA

Provides Fixed Income investment expertise and serves as an integral member of the senior investment team in evaluating total fund allocation and return opportunities

• Collaborates with the ED & CIO, SBA Senior Leadership, SBA staff, Fixed Income staff and consultants
• Discusses and develops strategic reviews, policies, and annual workplan
• Discusses issues and explores opportunities to improve the implementation of the Fixed Income portfolio and SBA’s aggregate investment portfolio
• Collaborates with Senior Investment Officers on differentiated or cross-asset class investment opportunities
• Provides input, as necessary, on use of liquidity portfolios for risk management or hedging
• Participates in the review/approval of SBA trade execution counterparties
• Serves as an active member of various SBA oversight and leadership groups

Ensures Fixed Income reporting and analytics are accurate, informative and timely

• Works closely with Financial Operations, Investment Policy and Asset Allocation, the Master Custodian, and consultants
• Evaluates the drivers of risk and return within the asset class
• Manages the development or acquisition of analytical platforms that support informed investment decisions

Facilitates efforts to support the SBA’s control environment

• Works actively and constructively with Risk Management & Compliance, Office of Internal Audit, the Inspector General, and all applicable auditors
• Maintains up-to-date asset class procedures

Demonstrates ability to effectively manage human and financial resources
Manages Human Resources

• Complies with policies and procedures and utilizes available resources in order to recruit and hire qualified colleagues
• Demonstrates commitment to diversity in recruiting and hiring qualified colleagues
• Ensures colleagues are properly oriented to the department/unit and organization and trained to perform the essential functions of their positions
• Evaluates performance of colleagues in accordance with policies and procedures and works with colleagues to develop annual specific, measurable, attainable, relevant, and time-bound (SMART) goals, to include goals for career development
• Coaches, counsels and commends colleagues throughout the year related to performance of job functions and demonstrating key behaviors
• Manages colleagues to ensure work is performed in a safe manner
• Identifies and assesses department succession management needs, documents succession plans and develops colleague competencies for succession

Manages financial resources

• Evaluates unit/department operations annually and prepares department budget in conjunction with the department’s senior leader and/or Budget Manager to meet anticipated needs
• Evaluates, negotiates and monitors vendor contracts to ensure goods and services are provided in the most cost-effective manner
• Manages department expenses within budgeted levels, monitors on a monthly basis and analyzes variances to determine causes
• Completes expense reports and provides supporting documentation per established policies and procedures
• Conserves department resources by efficiently utilizing time, equipment and supplies

Develops, implements and monitors strategic plans, or works in collaboration with the senior leader over the department, to contribute to the success of the department/unit and the overall organization

• Functions as a strategic business advisor to senior leaders regarding organizational strategic objectives
• Develops, or assists the senior leader over the department with developing, a department strategic plan that contributes to the overall strategic objectives of the organization
• Involves colleagues in the implementation of strategic objectives of the department
• Ensures successful implementation/deployment of department strategic plans

Performs other duties as assigned

A bachelor's degree from an accredited college or university in finance, mathematics, accounting, economics, business, or a related field and ten years of related experience, with five years of the related experience in a supervisory role. Or any combination of education and/or experience equal to the minimum requirements.

Preferences:

• Chartered Financial Analyst (CFA) credential

Knowledge, Skills and Abilities:

• Extensive knowledge of all analytics necessary to successfully implement investment plan
• Extensive knowledge of fixed income investments and ability to drive strategy
• Strong analytical and quantitative skills, with comprehensive knowledge of finance, investment concepts, and global financial markets, with particular focus on equity and foreign exchange market places
• Ability to assemble, manage and lead a team of investment professionals and support staff to meet organization goals and objectives
• Ability to work independently
• Ability to multi-task and manage long-term projects
• Ability to manage internal and external relationships
• Ability to communicate effectively at a senior level to a broad group of investment professionals
• Ability to mentor and develop junior staff
• Travels occasionally to various locations throughout the United States and internationally. Involves work outside of normal business hours and working remotely to maintain contact with other external investment managers and maintains normal office-related duties

Hiring Range: $196,100 - $284,400

The State Board of Administration is an Equal Opportunity Employer

Successful completion of a pre-employment background check is a condition of employment with the State Board of Administration