Main Purpose of Job

The Managing Director - Venture Capital and Co-Investment, works directly with the Board of Trustees, Investment Committee, Executive Director, Chief Investment Officer, Deputy Chief Investment Officers, external consultants, external managers and others in the development, implementation and maintenance of broad investment policies established by the Board of Trustees. This position reports to the Deputy Chief Investment Officer - Private Markets and oversees a professional staff of 4 individuals.

Responsibilities include but are not limited to:

• Lead a team of investment professionals responsible for meeting the risk and return objectives of venture capital and private equity co-investments.
• Establishes overall strategic investment program management goals, standards and controls to meet asset class and total fund objectives and the levels of resources required. Recommends and assists with determining appropriate benchmarks/indices/guidelines for evaluating investment performance. Forecasts market changes based on economic and industry analyses.
• Provides direct leadership, oversight, management and career development of professional investment staff.
• Provides oversight and management of external venture capital managers, consultants, and others with respect to the management of the investment program.
• Ensures that the integrity of the established investment framework is maintained, policies and procedures are implemented as intended, with an awareness of appropriate rules, laws, regulations and compliance controls.
• Identifies potential areas of vulnerability and risk, develops / implements corrective action plans for resolution, and provides guidance on mitigation of similar situations in the future.
• Provides guidance, input and recommendations for investment strategies and on projected strengths and weaknesses of investment approaches.
• Serves as an independent reviewer and evaluator to ensure that investment issues / concerns are being appropriately monitored, evaluated, investigated, resolved and communicated.
• Designs and develops quantitative and analytic models and tools to help identify attractive venture capital and co-investment strategies and opportunities and monitor and mitigate various types of risk associated with these investments. Gathers data, analyzes results, and communicates performance results.
• Manages the due diligence process for investing in venture capital managers and private market co-investments and makes investment recommendations to the Chief Investment Officer.

POSITION DUTIES

Job duties included but not limited to:

• Establishes program goals, standards, and controls for venture capital and private equity co-investments to meet risk and return objectives.
• Oversees investment professionals and financial resources of the investment management program.
• Ensures the integrity of the established investment framework through implementation of policies and procedures, awareness of rules, laws, and regulations by professional investment staff, external investment managers, and consultants.
• Monitors and manage relationships with external venture capital investment managers and private equity co-investments.
• Identifies investment opportunities and leads the due diligence process for venture capital and private equity co-investments by participating in meetings, reviewing portfolio holdings and strategies, and analyzing performance. Represents the Agency before senior managers, external investment managers, consultants and others concerning performance relative to objectives.
• Develop strategic plans for portfolio construction based on macroeconomic analysis and thematic investment views. Performs other duties and responsibilities as may reasonably be expected in investment strategy, risk mitigation and division management.

MINIMUM QUALIFICATIONS

Education: Four-year degree from an accredited four-year college in Science, Economics, Finance Accounting, Business Administration, Public Administration or similar fields of study.

Experience: Eight years of professional investment experience, portfolio construction, and investment decision-making.

DESIRED OR PREFERRED QUALIFICATIONS

Preferred Qualifications:

§ Supervisory experience of one or more individuals

§ CFA, CAIA, or FRM designation

§ 10 years or more of progressive responsibility in investments related to real estate, infrastructure and natural resources experience

§ Experience working within a Total Portfolio Approach framework

§ The candidate should also be knowledgeable regarding best practices to promote and maintain an equal employment opportunity work environment that is in compliance with applicable laws, rules and regulations

SPECIAL REQUIREMENTS

• A resume and cover letter are required to be uploaded with your application as well as an official transcript.
• For education obtained outside the U.S., a copy of the equivalent American education as determined by a foreign credential evaluation service must accompany the application.
• Due to the confidential nature of the work, selected candidates must undergo and pass a background and credit check.

SELECTION PROCESS

Please make sure that you provide sufficient information on your application to show that you meet the minimum, selective and preferred qualifications for this recruitment. All information concerning your qualifications must be submitted by the closing date. We will not consider information submitted after this date.

Successful candidates will be ranked as Best Qualified, Better Qualified, or Qualified and placed on the employment (eligible) list for at least one year or be placed on a register for at least one year. This list will be used by the hiring agency to select candidates for interviews in-person or virtually.

For education obtained outside the U.S., a copy of the equivalent American education as determined by a foreign credential evaluation service must by provided prior to hire.

EXAMINATION PROCESS

The assessment may consist of a rating of your education, training, and experience related to the requirements of the position. It is important that you provide complete and accurate information on your application. Please report all experience and education that is related to this position

You may be asked to complete a supplemental questionnaire. The supplemental questionnaire may be used as part of the rating process. Therefore, it is important that you provide complete and accurate information on your application.

BARGAINING UNIT STATUS

This position is exempt from Bargaining.

BENEFITS

This is a full-time, permanent position and eligible for full State benefits, which include:

• Hybrid teleworking
• Paid holidays 12-13 per year
• Generous paid leave package (annual, sick, personal and compensatory leave)
• State Pension ("defined benefit" plan)
• Tax-deferred supplemental retirement savings plans (401(k) and 457)
• Comprehensive, subsidized health, dental and prescription plans with little to no deductibles, free generic prescriptions, and free preventative health services
• Flexible Spending Account plans for Health Care and Daycare
• State Employees Credit Union

To Learn more, please click this link:

STATE OF MARYLAND BENEFITS

FURTHER INSTRUCTIONS

The online application process is STRONGLY preferred. If you are unable to apply online, you may mail a paper application and supplemental questionnaire to:

Maryland State Retirement and Pension Systems

Human Resources Section

120 E. Baltimore Street

Baltimore, MD 21202

Email Nick Pindale at [email protected]

PLEASE DO NOT SUBMIT UNSOLICITED DOCUMENTATION

The resulting certified eligible list for this recruitment may be used for similar positions in this or other State agencies.