Aug 05, 2022

Senior Portfolio Manager, Real Estate (Portfolio Manager IV)

$11,272 - $19,064 yearly
  • Texas Education Agency
  • 1701 N. Congress Austin, TX 78701
Full-time Accounting and Finance

Job Description

Description
 

MISSION: The Texas Education Agency (TEA) will improve outcomes for all public-school students in the state by providing leadership, guidance, and support to school systems.

On or after January 1, 2023, all Permanent School Fund positions will transfer from the Texas Education Agency to the Texas PSF Corporation, a recently formed special-purpose governmental corporation. Staff benefits, including insurance and retirement, will remain with the Texas Employees Retirement System. All PSF staff participate in a performance incentive plan.

POSITION OVERVIEW: The Texas PSF (Corporation) is seeking a talented individual to join a team of professionals at the Texas Permanent School Fund Corporation in managing a $55 billion perpetual public fund endowment that helps finance the state’s public schools.

This position reports to the Director of Private Markets and is hired to perform senior level management of a portfolio of private real estate investments. The Senior Portfolio Manager is responsible for supervising private real estate portfolio managers and investment analysts. This position implements approved investment policies and programs, coordinates ongoing manager relations and communications. This position will also analyze, monitor, and report on current investments and oversees due diligence, evaluates, and recommends potential investment opportunities. 

This position works under limited supervision, with extensive latitude for the use of initiative and independent judgment.

The professional selected for this position will work under limited supervision with extensive latitude for the use of initiative and independent judgment and is expected to help the PSF meet its performance goals and support the Texas Education Agency in fulfilling its strategic priorities.

Please note that a resume and tailored cover letter are required attachments for applying to this position. Incomplete applications will not be considered. Additionally, applicants who are strongly being considered for employment must submit to a national criminal history background check.

Relocation assistance is not available for this position.

ESSENTIAL FUNCTIONS:

  • Conduct due diligence and monitoring of fund investments, involving investment manager communications, on-site interviews, document review, investment analytics, reporting and other activities. Document and evaluate processes and conclusions.
  • Define and monitor investment management agreements and related schedules, and work closely with legal counsel in the contract negotiation process.
  • Manage ongoing day-to-day oversight of external investment managers and general partners, including investment analysis, communications, and knowledge transfer.
  • Other duties as assigned.
 
Qualifications
 

MINIMUM QUALIFICATIONS:
 
Education: Graduation from an accredited four-year college or university with a degree in finance, accounting, economics, or related field.

Experience: At least seven (7) years of  experience in a professional investment sector. Broad experience evaluating and investing in real estate funds, or, alternatively, other directly relevant real estate investment experience is strongly preferred.
Ten or more years of experience is preferred, including several years of senior level experience. 

Substitutions: An advanced degree may substitute for two years of required experience.
 
OTHER QUALIFICATIONS: 

  • Advanced degree, CFA and/or CAIA preferred.
  • Extensive knowledge of real estate investments, including market strategies, industry participants, asset structures, and relevant indices/benchmarks. 
  • Demonstrated ability to execute all phases of investment process with real estate investments, including due diligence, monitoring, performance measurement, and closing transactions.
  • Understanding of investment accounting and market operations; of investment research or investment banking; of statistical concepts and methods and their application to research analysis; of various financial data systems; and of macroeconomics.
  • Skill in mathematics and in the use of computer software programs, particularly Word, Excel, and PowerPoint.
  • Strong oral/written communication skills; ability to make public presentations.   
  • Must have keen interpersonal skills, be results oriented and able to exhibit strong work habits. 
  • Ability to act in accordance with the Chartered Financial Analyst Institute code of ethics and standards of professional conduct.
  • Oversee strong technical, functional, and strategic portfolio team. 
  • Competence to apply financial research techniques and to conduct exhaustive searches and evaluations of large amounts of data utilizing the internet and other resources.  
  • Capable to prioritize the work, to be flexible, manage multiple projects and assignments with attention to details and to supervise the work of others. 
  • Exhibit a high degree of integrity and the ability to recognize the requirements of confidentiality.
  • Demonstrate initiative and ability to work in a fast-paced, changing environment.
  • Expected to be a team player, a self-starter, and an independent thinker. 
  • Desired Character traits:  Honest, ethical, curious, flexible, respectful, proactive and effective working with individuals from diverse professional backgrounds.    

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