The Fund's Investment Unit within the IMF Finance Department is seeking a qualified candidate for the function of Investment Officer/Senior Investment Officer, with a specific focus on investment strategy and asset manager/fund selection and oversight in private markets.
The Fund Investment Unit is currently responsible for all aspects of managing over USD 100 billion in Investment Account (IA) and Trust Investment Assets (TA). This includes the IA Fixed-Income Subaccount as well as multi-asset portfolios of the Endowment Subaccount and Poverty Reduction and Growth Trust. Day-to-day investment management activities for the IA and TA are handled largely by external managers while third-party service providers record transactions and serve as the official book of records.
The preferred candidate's major tasks include:
- Conduct research and analysis for the development and design of investment strategies, focusing in particular on private asset-based debt, private infrastructure equity, and private real assets.
- Contribute to the design and implementation of investment policies and strategies, including investment benchmarks, guidelines, risk controls and periodic portfolio rebalancing.
- Conduct external manager/private fund search processes including preparation of RFPs, negotiation of investment mandates and finalization of investment management agreements.
- Conduct rigorous quantitative and qualitative due diligence on prospective external manager/fund investments, including evaluating historical track records, investment strategy, and operational capabilities, focusing especially on private markets.
- Draft detailed investment proposals and defend recommendations as a core member of the investment team.
- Oversee external manager and private fund performance, monitor quantitative and qualitative factors, and ensure that ongoing investments and related operations conform to relevant rules and regulations, investment guidelines, and risk controls.
- Oversee the monitoring and reporting of existing fund investments, including analyzing performance vs. peers and participating in Limited Partnership Advisory Committees (LPAC) as necessary.
- Prepare investment performance and risk reporting and be ready to enhance processes, including for portfolio performance, risk, attribution, and compliance monitoring, utilizing latest concepts in risk management and best practice.
- Coordinate investment strategy implementation and other investment activities with the Fund's other financial operations.
- Identify and recommend opportunities to enhance internal processes for portfolio oversight, market monitoring and data management.
- Maintain deep knowledge of industry trends, market cycles.
- Maintain deep network of existing private markets managers and funds.
Qualifications- An advanced University degree, or equivalent, in economics, business administration or financial analysis, supplemented by a minimum of four (4) years, preferably 10 years, of relevant professional work experience is required; or a bachelor's degree, or equivalent, supplemented by a minimum of ten (10) years, of relevant professional experience, is required. Alternatively, a minimum of two (2) years of relevant experience at grade A10, or equivalent, is required. Professional certifications such as CPA or CA, CFA, or FRM are highly desired.
- The candidate must demonstrate 7+ years of buy-side experience in private debt/equity, fund-of-funds, endowment, or institutional consulting with comprehensive understanding of the private markets landscape (debt and equity), including fund structures (LPs, GPs), co-investments, and secondary markets. Candidate should bring a strong network of existing managers and funds in private infrastructure and other real assets equity and private credit.
- The candidate must have sound knowledge of investment portfolio theory and practice. Demonstrated expertise with time series analysis, portfolio optimization techniques, portfolio analytics, performance attribution methods, and risk measurement tools is required with a specific focus on private markets.
- The candidate must have proven quantitative and qualitative analytical skills in finance/investments. A strong ability to underwrite investments from first principles and build highly advanced analytical evaluation frameworks is highly desirable.
- A demonstrated ability to examine and interpret data and assess their impact on investment decision-making is essential.
- The candidate must also display outstanding interpersonal, negotiation, and written and oral communication skills to act as an advocate internally and externally; demonstrate a strong ability to work collaboratively; and be committed to working in a multi-cultural environment.
- Experience in the investment arm of an official institution, central bank or international organization is highly desirable.
A regular staff member who is selected to fill the vacancy will maintain their open-ended status. If the selected candidate is a contractual employee, they will be offered a Term staff appointment. Staff members already on a term appointment will continue their current term but may receive an extension provided that their current term appointment has not already been extended.
All applicants are expected to include a Statement of Interest as an attachment to the application, which may be used in the screening process for this vacancy.
Department:FINAI FI Finance Department Immediate Office Fund Investment Unit
Hiring For: A11, A12, A13, A14, A15
