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 is, in turn, assisted in this function by the Office of Investment Management (OIM). OIM manages a USD 80+ 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 and come from all over the world. For more information please visit OIM's website at https://oim.unjspf.org/.
This position reports to the Representative of the Secretary-General for the Investment of the assets of the UNJSPF (RSG). The Chief Investment Officer heads the Investment Management Division comprised of 55+ staff and is part of the Senior Management Team, together with the Chief Risk Management and Compliance Officer, the Chief Financial Officer and the Chief Operating Officer.
Under the delegated authority and oversight from the RSG, the Chief Investment Officer:
1. Directs the work programme of the Investment Management Division by:
- Implementing the strategic and tactical asset allocation based on the investment policy and strategy set by the Representative of the Secretary-General, in consultation with the Investments Committee and the suggestions of the Pension Board;
- Overseeing the five strategic portfolios: Public Equities, Private Equity, Real Estate, Real Assets and Fixed Income;
- Recommending investment policy and strategy to the Representative of the Secretary-General;
- Evaluating advice and recommendations of the investment advisors, industry experts and staff of the Division;
- Leading the Sustainable Investment team;
- Assessing investment performance by asset class, country and region and recommending guidelines for asset allocation ranges, currency holdings, and market weightings, and for strategic and tactical short-term allocations;
- Acting as the Chair of the Internal Investments Committee, the Private Markets Committee and the Best Execution Committee;
- Evaluating investment opportunities in different countries / regions and;
- Supporting programs for staff training and development to maintain and further develop the expertise of the 55+ Division’s personnel;
2. Assists the Representative of the Secretary-General for the Investments of the UNJSPF to report on related matters to the Pension Board, ACABQ and the Fifth Committee by:
- Preparing and supervising the preparation of reports on investment performance, structure of the portfolio, investment policies and strategies, global economic and market conditions, the investment outlook and requirements for the financing of operations;
- Presenting and defending proposals on the financing and staffing of the Division to the Pension Board, ACABQ and Fifth Committee and providing answers and explanations to questions raised by Governing Bodies;
- Implementing and monitoring the investment decisions of the United Nations University Endowment Fund.
3. Collaborates in the Asset and Liabilities Management working Group, together with the Pension Fund Administration and other staff in the Office of Investment Management, in the development of the Asset and Liability Management studies;
4. Negotiates contracts with, and oversees the performance of, the investment advisors and external managers of the Fund.
5. Represents the Office of Investment Management in internal and external fora.
6. Ensures gender and geographical representation at every level in the Division.
7. Performs other duties as required.
- 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. Shows pride in work and in achievements; demonstrates professional competence and mastery of subject matter; is motivated by professional rather than personal concerns; shows persistence when faced with difficult problems or challenges; remains calm in stressful situations.
- Planning and 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.
- Communication - Speaks and writes clearly and effectively; listens to others, correctly interprets messages from others and responds appropriately; asks questions to clarify, and exhibits interest in having two-way communication; tailors language, tone, style and format to match the audience; demonstrates openness in sharing information and keeping people informed.
- 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 improvement; 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.
- Judgment/Decision-making - Identifies the key issues in a complex situation, and comes to the heart of the problem quickly; gathers relevant information before making a decision; considers positive and negative impacts of decisions prior to making them; takes decisions with an eye to the impact on others and on the Organization; proposes a course of action or makes a recommendation based on all available information; checks assumptions against facts; determines that the actions proposed will satisfy the expressed and underlying needs for the decision; makes tough decisions when necessary.
Advanced university degree (Master's degree or equivalent) in business management, economics, finance, banking or portfolio investment management or related field. A first-level university degree in combination with additional two years of qualifying experience may be accepted in lieu of the advanced university degree. Professional certification such as CFA or equivalent is desirable.
Over fifteen (15) years of proven progressively responsible practical experience in the management and/or supervision of investments is required.
Experience in the management and/or supervision of the investment of complex institutional portfolios of assets of various classes, such as pension funds, endowment funds and/or investment advisory firms is required.
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.
Job openings advertised on the Careers Portal will be removed at 11:59 p.m. (New York time) on the deadline date.
For more information on how to apply, please click the “Apply” button.
Closing date: 21st February 2021