Deputy Chief Investment Officer

Overview

Assist in managing investment portfolios and leading the team in performance.

You have:

• Advanced university degree (Master's or equivalent degree) in Business Admin. (MBA), Finance, Economics or related field is required.
• A first level university degree in combination with two additional years of qualifying experience may be accepted in lieu of the advanced university degree.
• Minimum of 15 years of proven progressively responsible and practical experience in the investment management of asset allocation strategies is required.
• At least 10 years in long-term oriented institutional investment management organization, utilizing fundamental and quantitative analysis for managing assets of large-sized asset owners such as pension funds and sovereign wealth funds with USD 10 billion or more assets under management, is required.
• At least 10 years in leadership or management roles, such as Director or Senior Portfolio Manager, is required.
• At least 10 years in in-house management of the asset allocation strategies is required.
• At least 5 years in conducting due diligence for selecting external management advisors and monitoring those managers is desirable.
• Experience in rule-based quantitative asset allocation strategies is desirable.
• Fluency in English is required.
• Knowledge of another UN official language is desirable.

Contract

This is a D-1 contract. This kind of contract is known as Professional and Director staff. It is normally internationally recruited only. It's a staff contract. It usually requires 15 years of experience, depending on education.

Salary

The salary for this job should be between 226,009 USD and 285,201 USD.

Please keep in mind that the salary displayed here is an estimation by UN Talent based on the location and the type of contract. It may vary depending on the organization. The recruiter should be able to inform you about the exact salary range. In case the job description contains another salary information, please refer to this one.

Org. Setting and Reporting

The United Nations Secretary-General is responsible for the investment of the assets of the United Nations Joint Staff Pension Fund (UNJSPF). The Secretary-General has delegated this responsibility to the Representative of the Secretary-General for the investment of the assets of the UNJSPF (RSG). The RSG heads the Office of Investment Management (OIM), which manages a $95+ billion multi-asset class, global investment portfolio, about 85% of which is actively managed in-house. Asset classes under management comprise global equities, fixed income, foreign exchange, private equity, real estate, infrastructure, timber, and commodities. OIM’s staff are all based in New York but come from over 40 countries. For more information, please visit OIM's website at https://oim.unjspf.org/. The Deputy Chief Investment Officer assists the CIO in directing the work programme of Investments in the Office of Investment Management, which is responsible for the management of the investment portfolios of the United Nations Joint Staff Pension Fund. The Deputy Chief Investment Officer reports to the Chief Investment Officer of OIM.

Responsibilities

Within delegated authority, the Deputy Chief Investment Officer will be responsible for the following duties: 1. Contributes to the work programme of the Office of Investment Management (OIM) by: a. supporting the Chief Investment Officer (CIO) in implementing the organization's investment policies and strategies set by the Representative of the Secretary-General (RSG) and CIO, in consultation with the Investments Committee and the suggestions of the Pension Board, b. overseeing the Asset Allocation and Quantitative Investment teams. c. supporting the CIO in establishing the tactical asset allocation strategies by monitoring macroeconomic trends, conducting fundamental and technical analysis of the capital markets, developing analytical tools, and managing the dissemination of information across multiple asset classes, geopolitical regions, and sectors, d. Supporting the CIO in recommending investment policy and strategy to the RSG including, but not limited to, the Strategic Asset Allocation and Quantitative strategies. e. exploring new assets and investment approach in collaboration with the various teams in the Investment Section and the entire OIM. f. monitoring the external manager selection process and the performance of the relevant external managers. g. supporting programs for staff training and development to maintain and further develop the expertise of the Unit's personnel. h. development of hedging strategies. 2. Assists the Representative of the Secretary-General for the Investments of the UNJSPF and the CIO to report on related matters to the Investments Committee, Pension Board, ACABQ and the Fifth Committee by: a. Preparing and supervising the preparation of reports on investment performances, structure of the portfolio, investment policies and strategies, global economic and market conditions, the investment outlook and requirements for the financing of operations. b. Presenting and defending proposals on the financing and staffing of the Office of CIO to the Pension Board, ACABQ and Fifth Committee and providing answers along with explanations to the questions raised by Governing Bodies. 3. Supports the RSG and CIO in negotiating contracts with the investment advisors and external managers of the Fund along with and overseeing the said performance. 4. Represents the Office of Investment Management in internal and external fora. 5. Performs other duties as required such as participating in OIM wide projects including Asset Liability Management Studies and Benchmark Studies along with overseeing the Private Markets portfolio.

Competencies

Core Competencies: • Professionalism: Demonstrated competence in and adherence to the standards of conduct of the profession and in the application of best practices; conceptual and analytical skills; demonstrated conscientiousness and efficiency in meeting commitments, observing deadlines and achieving results; ability to direct, review and guide the work of others, particularly in terms of substantive quality and high digital and technological awareness and proficiency. Proven track record of decision-making as an asset allocator and investment manager of a similar size and complexity of the portfolio of the UNJSPF and of consistently surpassing the performance of policy benchmarks over the multiple years. Ability to apply UN rules, regulations, policies and guidelines in work situations. Shows pride in work and in achievements; demonstrates professional competence and mastery of subject matter; is conscientious and efficient in meeting commitments, observing deadlines and achieving results; is motivated by professional rather than personal concerns; shows persistence when faced with difficult problems or challenges; remains calm in stressful situations. • Planning& Organizing: Develops clear goals that are consistent with agreed strategies; identifies priority activities and assignments; adjusts priorities as required; allocates appropriate amount of time and resources for completing work; foresees risks and allows for contingencies when planning; monitors and adjusts plans and actions as necessary; uses time efficiently. • Accountability: Takes ownership of all responsibilities and honours commitments; delivers outputs for which one has responsibility within prescribed time, cost and quality standards; operates in compliance with organizational regulations and rules; supports subordinates, provides oversight and takes responsibility for delegated assignments; takes personal responsibility for his/her own shortcomings and those of the work unit, where applicable. Managerial Competencies • Leadership: Serves as a role model that other people want to follow: empowers others to translate vision into results; is proactive in developing strategies to accomplish objectives; establishes and maintains relationships with a broad range of people to understand needs and gain support; anticipates and resolves conflicts by pursuing mutually agreeable solutions; drives for change and improvements; does not accept the status quo; shows the courage to take unpopular stands. Provides leadership and takes responsibility for incorporating gender perspectives and ensuring the equal participation of women and men in all areas of work; demonstrates knowledge of strategies and commitment to the goal of gender balance in staffing. • Building Trust: Provides an environment in which others can talk and act without fear of repercussion; manages in a deliberate and predictable way; operates with transparency; has no hidden agenda; places confidence in colleagues, staff members and clients; gives proper credit to others; follows through on agreed upon actions; treats sensitive or confidential information appropriately.

Education

Advanced university degree (Master's or equivalent degree) in Business Admin. (MBA), Finance, Economics or related field is required. A first level university degree in combination with two additional years of qualifying experience may be accepted in lieu of the advanced university degree. Chartered Financial Analyst (CFA) certification is desirable.

Job - Specific Qualification

Not available.

Work Experience

A minimum of 15 years of proven progressively responsible and practical experience in the investment management of asset allocation strategies is required. At least 10 years in experience in long-term oriented institutional investment management organization by utilizing fundamental and quantitative analysis for managing the assets of large-sized asset owners such as pension funds and sovereign wealth funds, with USD 10 billion or more assets under management, is required. At least 10 years in leadership or management roles, such as Director or Senior Portfolio Manager is required. At least 10 years in in-house management of the asset allocation strategies is required. At least 5 years in conducting due diligence for selecting external management advisors and monitoring those managers is desirable. Experience in rule-based quantitative asset allocation strategies is desirable.

Languages

English and French are the working languages of the UN Secretariat. For this position, fluency in English is required. Knowledge of another UN official language is desirable.

Assessment

Evaluation of qualified candidates may include an assessment exercise which may be followed by competency-based interview.

Special Notice

• For this position, the lateral and geographical requirement outlined in section 6.4 of the Staff Selection System, ST/AI/2010/3, is waived. • Staff members are subject to the authority of the Secretary-General and to assignment by him or her. In this context, all staff are expected to move periodically to new functions in their careers in accordance with established rules and procedures. • The United Nations Secretariat is committed to achieving 50/50 gender balance in its staff. Female candidates are strongly encouraged to apply for this position. • Appointment at the United Nations is subject to mandatory adherence to the United Nations Financial Disclosure Programme. An appointment to the Office of Investment Management (OIM) of the UNJSPF additionally requires compliance with the rules and regulations pertaining to OIM's Code of Ethics, Personal Securities, Gift and Hospitality policies. • For this position, applicants from the following Member States, which are unrepresented or under-represented in the UN Secretariat as of 30 November 2024, are strongly encouraged to apply: Democratic People's Republic of Korea, Dominica, Equatorial Guinea, Grenada, Kiribati, Lao People's Democratic Republic, Liechtenstein, Marshall Islands, Nauru, Palau, Papua New Guinea, Qatar, Sao Tome and Principe, Timor-Leste, Tuvalu, United Arab Emirates, Vanuatu, Andorra, Angola, Antigua and Barbuda, Bahrain, Belize, Brunei Darussalam, China, Cuba, Germany, Guinea-Bissau, Hungary, Indonesia, Israel, Japan, Kuwait, Libya, Malta, Micronesia (Federated States of), Monaco, Oman ,Panama, Paraguay, Republic of Korea, Saint Lucia, Saint Vincent and the Grenadines, Saudi Arabia, Singapore, Solomon, Islands, Somalia, Turkmenistan, United States of America.

United Nations Considerations

According to article 101, paragraph 3, of the Charter of the United Nations, the paramount consideration in the employment of the staff is the necessity of securing the highest standards of efficiency, competence, and integrity. Candidates will not be considered for employment with the United Nations if they have committed violations of international human rights law, violations of international humanitarian law, sexual exploitation, sexual abuse, or sexual harassment, or if there are reasonable grounds to believe that they have been involved in the commission of any of these acts. The term “sexual exploitation” means any actual or attempted abuse of a position of vulnerability, differential power, or trust, for sexual purposes, including, but not limited to, profiting monetarily, socially or politically from the sexual exploitation of another. The term “sexual abuse” means the actual or threatened physical intrusion of a sexual nature, whether by force or under unequal or coercive conditions. The term “sexual harassment” means any unwelcome conduct of a sexual nature that might reasonably be expected or be perceived to cause offence or humiliation, when such conduct interferes with work, is made a condition of employment or creates an intimidating, hostile or offensive work environment, and when the gravity of the conduct warrants the termination of the perpetrator’s working relationship. Candidates who have committed crimes other than minor traffic offences may not be considered for employment. Due regard will be paid to the importance of recruiting the staff on as wide a geographical basis as possible. The United Nations places no restrictions on the eligibility of men and women to participate in any capacity and under conditions of equality in its principal and subsidiary organs. The United Nations Secretariat is a non-smoking environment. Reasonable accommodation may be provided to applicants with disabilities upon request, to support their participation in the recruitment process. By accepting a letter of appointment, staff members are subject to the authority of the Secretary-General, who may assign them to any of the activities or offices of the United Nations in accordance with staff regulation 1.2 (c). Further, staff members in the Professional and higher category up to and including the D-2 level and the Field Service category are normally required to move periodically to discharge functions in different duty stations under conditions established in ST/AI/2023/3 on Mobility, as may be amended or revised. This condition of service applies to all position specific job openings and does not apply to temporary positions. Applicants are urged to carefully follow all instructions available in the online recruitment platform, inspira, and to refer to the Applicant Guide by clicking on “Manuals” in the “Help” tile of the inspira account-holder homepage. The evaluation of applicants will be conducted on the basis of the information submitted in the application according to the evaluation criteria of the job opening and the applicable internal legislations of the United Nations including the Charter of the United Nations, resolutions of the General Assembly, the Staff Regulations and Rules, administrative issuances and guidelines. Applicants must provide complete and accurate information pertaining to their personal profile and qualifications according to the instructions provided in inspira to be considered for the current job opening. No amendment, addition, deletion, revision or modification shall be made to applications that have been submitted. Candidates under serious consideration for selection will be subject to reference checks to verify the information provided in the application. Job openings advertised on the Careers Portal will be removed at 11:59 p.m. (New York time) on the deadline date.

No Fee

THE UNITED NATIONS DOES NOT CHARGE A FEE AT ANY STAGE OF THE RECRUITMENT PROCESS (APPLICATION, INTERVIEW MEETING, PROCESSING, OR TRAINING). THE UNITED NATIONS DOES NOT CONCERN ITSELF WITH INFORMATION ON APPLICANTS’ BANK ACCOUNTS.

Potential interview questions