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jobID=1746753&sharedWindow=0
20170519
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COMMONWEALTH OF PENNSYLVANIA
invites applications for:
Junior Investment Professional Psers (PSERS staff only)

The Commonwealth of Pennsylvania is proud to be an equal


opportunity employer supporting workplace diversity.

BARGAINING UNIT: A3

PAY GROUP: IP 01

SALARY: $60,656.00 - $75,834.00 Annually

JOB TYPE: Non-Civil Service Permanent Full-time

DEPARTMENT: SL Public School Employees' Retirement System

BUREAU/DIVISION: Investment Office

COUNTY: Dauphin County, Pennsylvania


ADDRESS: 5 North 5th Street, Harrisburg, 17101

CONTACT:

OPENING DATE: 05/19/17


CLOSING DATE: 05/25/17 11:59 PM

THE POSITION:
The employee at this level typically is assigned the critical function of coordinating and
performing assigned investment operations activities for the Investment Office of the Public
School Employees' Retirement System. A significant portion of responsibilities involves support
of internal Portfolio Managers. The employee will work closely with other Investment
Professionals in Investment Operations, and be expected to take turns performing all
significant duties in that group in a cyclical fashion.

The employee in this class will be directly supervised by the Managing Director of Investment
Operations and Risk, however each member of the senior management of the Investment
Office may also directly interface with the incumbent. Work is expected to be performed with a
minimal degree of supervision.

DESCRIPTION OF WORK:
Responsible for performing, in close coordination with other Investment Professionals, a variety
of complex and critical Investment Operations functions:

Portfolio Manager Support


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20170519
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Support internal Portfolio Managers by performing operational tasks including:

 settlement of securities, derivatives, and foreign exchange transactions;


 daily collateral and margin variation management;
 maintenance of detailed records and verifications of the above activity, and
 periodic portfolio reconciliations.

Support internal and external Portfolio Managers by performing operational tasks including:

 coordinate and process asset allocation changes and capital calls;


 perform fee accrual process, and review and approve investment management and
performance fee invoices; and
 coordinate with the Office of Financial Management, brokers, counterparties, custodian
banks, consultants and other service providers on asset transfers, account openings and
closings, and other related activity.

General Operations Functions

 perform daily liquidity management functions including cash forecasting and cash
settlement, both at the fund level and (where appropriate) the portfolio level for
Restricted, Encumbered, and Unencumbered cash balances;
 perform daily maintenance of Prop Fund summaries and histories; and
 support implementation and operation of an Investment Book of Record.

The incumbent will:

 create and distribute a significant level of reporting on these and related activities;
 perform other related work and special projects as required; and
 participate in internal working groups as assigned.

Requirements:
Knowledge of the technology applications used throughout the Investment Office.

Knowledge of investment and unitized accounting techniques.

Knowledge of the functions of financial markets.

Knowledge of accepted principles, practices, and strategies in the field of institutional


investments.

Skills in utilizing Bloomberg and custodian bank systems.

Skills in utilizing personal computers, including Microsoft Word, Excel, and PowerPoint.

Ability to communicate clearly and concisely, orally and in writing.

This position is identified as essential level 1. It supports critical business functions and when
there is a declaration of an office closing, emergency or disaster, the incumbent may be
required to participate/assist in those functions to aid the business continuity process. As
such, the incumbent may be required to remain at or report to work at headquarters or an
alternative site and be available and reachable by phone during the recovery process.
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20170519
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REQUIRED EXPERIENCE, TRAINING & ELIGIBILITY:


The successful candidate must possess at least 10 years of relevant investment operations work experience; OR

A Bachelor's degree and five or more years of relevant investment operations work experience; OR

A Bachelor's degree and three or more years of relevant investment operations work experience and completion of an
advanced certification/education program specified in the individual position description.

EXAMINATION INFORMATION:
How to Apply: ALL APPLICANTS MUST APPLY ON LINE BY CLICKING ON "APPLY"
ABOVE.

The following materials must be submitted with the online application by 5/25/17.

 Most recent Employee Performance Review


 Resume (optional)
 Three references (two current/former supervisors and one other – cannot be personal
acquaintance)

APPLICATIONS MAY BE FILED ONLINE AT: Job #I-2017-00624


http://www.employment.pa.gov JUNIOR INVESTMENT PROFESSIONAL PSERS
(PSERS STAFF ONLY)
OUR OFFICE IS LOCATED AT: DC
613 North Street
Harrisburg, PA 17120

jobs@pa.gov

An Equal Opportunity Employer


Agency: PSERS ; PSERS ; PSERS ; PSERS ; PSERS ; PSERS
Pay Schedule: Investment Pay Schedule (IP) ; Investment Pay Schedule (IP) ; Investment Pay Schedule (IP) ; Investment Pay Schedule (IP) ; Investment Pay Schedule (IP) ; Investment Pay Schedule (IP)
Effective Date: 20170616 ; 20170616 ; 20170616 ; 20170616 ; 20170616 ; 20170616
Classification: Junior Investment Professional ; Intermediate Investment Professional ; Senior Investment Professional ; Portfolio Manager ; Managing Director ; Chief Investment Officer
Pay Group: 1 ; 2 ; 3 ; 4 ; 5 ; 6
Pay Level: 1 ; 1 ; 1 ; 1 ; 1 ; 1
$s Hourly: 31.01 ; 42.82 ; 57.94 ; ??? ; ??? ; ???
$s Biweekly: 2,325.77 ; 3,211.50 ; 4,345.51 ; ??? ; ??? ; ???
$s Annually: 60,656.00 ; 83,756.00 ; 113,331.00 ; ??? ; ??? ; ???

Agency: PSERS ; PSERS ; PSERS ; PSERS ; PSERS ; PSERS


Pay Schedule: Investment Pay Schedule (IP) ; Investment Pay Schedule (IP) ; Investment Pay Schedule (IP) ; Investment Pay Schedule (IP) ; Investment Pay Schedule (IP) ; Investment Pay Schedule (IP)
Effective Date: 20170616 ; 20170616 ; 20170616 ; 20170616 ; 20170616 ; 20170616
Classification: Junior Investment Professional ; Intermediate Investment Professional ; Senior Investment Professional ; Portfolio Manager ; Managing Director ; Chief Investment Officer
Pay Group: 1 ; 2 ; 3 ; 4 ; 5 ; 6
Pay Level: 20 ; 20 ; 20 ; 20 ; 20 ; 20
$s Hourly: 38.77 ; 61.24 ; 82.85 ; ??? ; ??? ; ???
$s Biweekly: 2,907.75 ; 4,592.98 ; 6,213.77 ; ??? ; ??? ; ???
$s Annually: 75,834 ; 119,785 ; 162,055 ; ??? ; ??? ; ???

Agency: PSERS ; PSERS ; PSERS ; PSERS ; PSERS ; PSERS


Pay Schedule: Investment Pay Schedule (IP) ; Investment Pay Schedule (IP) ; Investment Pay Schedule (IP) ; Investment Pay Schedule (IP) ; Investment Pay Schedule (IP) ; Investment Pay Schedule (IP)
Effective Date: 20070701 ; 20070701 ; 20070701 ; 20070701 ; 20070701 ; 20070701
Classification: Junior Investment Professional ; Intermediate Investment Professional ; Senior Investment Professional ; Portfolio Manager ; Managing Director ; Chief Investment Officer
Pay Group: 1 ; 2 ; 3 ; 4 ; 5 ; 6
Pay Level: 1 ; 1 ; 1 ; 1 ; 1 ; 1
$s Hourly: 20.45 ; 32.72 ; 44.99 ; 57.26 ; 71.58 ; 102.25
$s Biweekly: 1,533.75 ; 2,454.00 ; 3,374.25 ; 4,294.50 ; 5,368.50 ; 7,668.75
$s Annually: 40,000 ; 64,000 ; 88,000 ; 112,001 ; 140,010 ; 200,001

Agency: PSERS ; PSERS ; PSERS ; PSERS ; PSERS ; PSERS


Pay Schedule: Investment Pay Schedule (IP) ; Investment Pay Schedule (IP) ; Investment Pay Schedule (IP) ; Investment Pay Schedule (IP) ; Investment Pay Schedule (IP) ; Investment Pay Schedule (IP)
Effective Date: 20070701 ; 20070701 ; 20070701 ; 20070701 ; 20070701 ; 20070701
Classification: Junior Investment Professional ; Intermediate Investment Professional ; Senior Investment Professional ; Portfolio Manager ; Managing Director ; Chief Investment Officer
Pay Group: 1 ; 2 ; 3 ; 4 ; 5 ; 6
Pay Level: 20 ; 20 ; 20 ; 20 ; 20 ; 20
$s Hourly: 36.81 ; 49.08 ; 67.49 ; 85.89 ; 107.37 ; 153.38
$s Biweekly: 2,760.75 ; 3,681.00 ; 5,061.75 ; 6,441.75 ; 8,052.75 ; 11,503.50
$s Annually: 72,000 ; 96,000 ; 132,010 ; 168,001 ; 210,016 ; 300,011
Public School Employees' Retirement System (PSERS); 5 N 5th Street, Harrisburg PA 17101-1905
http://www.psers.state.pa.us/board/reso/reso2007.htm
June 2007
Page 1 of 4

PSERB Resolution 2007- 46


Investment Professional Classification Structure
June 23, 2007

Resolved, that the Public School Employees Retirement Board hereby adopts, effective July 1, 2007, the new classification
structure for its Investment Professionals, as follows:

Job Title General Definition of Work Minimum Experience


(Pay Group) and Training Requirements

Junior This is entry level professional investment work. An Bachelors Degree


Investment incumbent in this position will generally be new to the
Professional organization, require a significant amount of supervision,
(PG 1) have minimal investment experience, and have job duties
that are generally task oriented.

Intermediate This is professional investment work. An incumbent in this Bachelors degree; and
Investment position will have some investment experience and a full Two years or more of relevant work experience
Professional understanding of their role within the PSERS organization. in the investment industry; or
(PG 2) An incumbent for this position will perform more complex Masters degree in Business Administration or
tasks and analysis and will require less direction in Investment-related field; or
completing their assigned responsibilities. Two years or more as a Junior Investment
Professional with PSERS.

Senior This is journey level professional investment work. An Bachelors degree; and
Investment incumbent in this position will have extensive investment Five years or more of relevant work experience
Professional experience and fully understand PSERS organization. An in the investment industry; or
(PG 3) incumbent in this position will be accountable for one or Three years or more of relevant work experience
more specific functions within PSERS Investment Office. in the investment industry and successful
Incumbents are expected to generate ideas, perform completion of the Chartered Financial Analyst
complex tasks and analysis, and work independently. Certification program; or
Three years or more of relevant work experience
in the investment industry and successful
completion of an advanced
certification/education program specified in the
individual position description; or
Two years or more as an Intermediate
Investment Professional with PSERS

Portfolio This is journey level professional investment work Bachelors degree; and
Manager involving direct responsibility for one or more passive or Six years or more of relevant work experience in
(PG 4) active public market equity or fixed income investment the investment industry; or
portfolios or direct responsibility over a group of external Four years or more of relevant work experience
investment managers (i.e. portfolio manager of managers). in the investment industry and successful
An incumbent in this position will be expected to make completion of the Chartered Financial Analyst
portfolio management decisions. In the case of the Certification program; or
passive or active public market equity or fixed income Four years or more of relevant work experience
portfolio manager, the incumbent will make buy and sell in the investment industry and successful
decisions based on the investment objectives and completion of an advanced
guidelines of portfolio(s) assigned to them. In the case of certification/education program specified in the
Portfolio Manager of managers, decisions will center individual position description; or
around building a portfolio of managers to meet the Two years or more as a Senior Investment
investment objectives of PSERS. In both cases, Professional with PSERS.
incumbents in these positions will be accountable for
generating returns within the prescribed guidelines.
Public School Employees' Retirement System (PSERS); 5 N 5th Street, Harrisburg PA 17101-1905
http://www.psers.state.pa.us/board/reso/reso2007.htm
June 2007
Page 2 of 4

Job Title General Definition of Work Minimum Experience


(Pay Group) and Training Requirements

Managing This is a senior management position within PSERS Bachelors degree; and
Director Investment Office. An incumbent in this position has Seven years or more of relevant work
(PG 5) responsibility for one or more asset classes or functions, experience in the investment industry; or
and is a part of PSERS management team with direct Five years or more of relevant work experience
oversight over the Systems investment functions along in the investment industry and successful
with the Chief Investment Officer. The positions report completion of the Chartered Financial Analyst
directly to the Chief Investment Officer and are required to Certification program; or
make presentations to the Finance Committee of PSERS Five years or more of relevant work experience
as needed. Managing Directors, along with the CIO, are in the investment industry and successful
expected to work as a team in meeting the goals and completion of an advanced
objectives established by the Board. Managing Directors certification/education program specified in the
will be evaluated not only on their individual performance individual position description; or
but also on the relative investment performance of the Four years or more as a Portfolio Manager with
Fund. All candidates for an investment director position PSERS.
must be ratified by the Board.

Chief This is a senior management position with oversight Masters degree (or Bachelors degree and CFA
Investment responsibility over the entire Investment Office. The CIO certification) and seven years of experience in
Officer (CIO) reports to the Finance Committee for all investment related the field of investments, five of which must have
(PG 6) matters and to the Executive Director for all administrative been in a senior management or consultative
matters. The CIO is responsible and accountable for the position managing diverse asset classes of a
results of the Systems assets. The CIO is responsible for billion dollars or more; or
policy development, consultation, and coordination of Four years or more as a Managing Director at
investments for PSERS. The Board must ratify all PSERS; or
candidates for the CIO position. Any equivalent combination of experience and
training.

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Public School Employees' Retirement System (PSERS); 5 N 5th Street, Harrisburg PA 17101-1905
http://www.psers.state.pa.us/board/reso/reso2007.htm
June 2007
Page 3 of 4

PSERB Resolution 2007- 47


Investment Professional Base Compensation Salary Structure
June 22, 2007

Resolved, that the Public School Employees Retirement Board hereby adopts, effective July 1, 2007, the new base
compensation salary structure for its Investment Professionals as follows:

Investment Pay Schedule (IP) July 2007

Pay Group
Pay Level 1 2 3 4 5 6
1 Hourly 20.45 32.72 44.99 57.26 71.58 102.25
Biweekly 1,533.75 2,454.00 3,374.25 4,294.50 5,368.50 7,668.75
Annually 40,000 64,000 88,000 112,001 140,010 200,001

20 Hourly 36.81 49.08 67.49 85.89 107.37 153.38


Biweekly 2,760.75 3,681.00 5,061.75 6,441.75 8,052.75 11,503.50
Annually 72,000 96,000 132,010 168,001 210,016 300,011

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Public School Employees' Retirement System (PSERS); 5 N 5th Street, Harrisburg PA 17101-1905
http://www.psers.state.pa.us/board/reso/reso2007.htm
June 2007
Page 4 of 4

PSERB Resolution 2007- 48


Investment Professional Base Salary Increases
June 22, 2007

Resolved, that the Public School Employees Board hereby implements the base salary increases for its Investment
Professionals, effective July 1, 2007, with the understanding that they will be paid retroactive to that date once the new
salary schedule is filed with the Office of Administration, as follows:

Employee Name Current Salary July 1, 2007 July 1, 2008


Chief Investment Officer
Van Noord, Alan $189,184.00 $218,994.00 $233,996.00

Investment Directors
Grossman, James $148,206.00 $154,993.00 $169,996.00
Heppenstall, Mark $148,206.00 $154,993.00 $169,996.00
Peters, Gerald $148,206.00 $154,993.00 $169,996.00
Smith, Gerard $148,206.00 $154,993.00 $169,996.00
Spiller, Charles $148,206.00 $154,993.00 $169,996.00

Portfolio Managers
Arrowsmith, Lawrence (retiring 6/07) $114,622.00 N/A N/A
Derr, Steven $102,436.00 $112,001.00 $127,003.00
Devine, Robert $79,257.00 $112,001.00 $127,003.00
Oh, Susan $96,392.00 $112,001.00 $127,003.00
Williams, David $118,514.00 $121174.00 $127,003.00
Senior Investment Professionals
Baker, Christopher $102,045.00 $104,333.00 $107,463.00
Foreman, Darren $88,920.00 $96,001.00 $105,996.00
Grubic, Michael $90,837.00 $96,001.00 $105,996.00
Jacobs, Luke $75,815.00 $96,001.00 $105,996.00
Little, Robert $76,323.00 $96,001.00 $105,996.00
Plotts, Maryann $87,101.00 $96,001.00 $105,996.00
Stalter, William $75,834.00 $96,001.00 $105,996.00

Intermediate Investment Professional


Brickman, Marc $73,956.00 $74,993.00 $80,000.00

Junior Investment Professionals


Sellers, Margaret $59,991.00 $61,008.00 $63,179.00
Sheva, Joseph $66.563.00 $68,069.00 $70,103.00
Tyler, Michael $59,991.00 $61,008.00 $63,179.00
TOTALS $2,298,811.00 $2,396,553.00 $2,611,888.00

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