Investment Officer III, Real Estate
California State Teachers' Retirement System
West Sacramento, CA
Salary Estimate: Confidential
Employment Type: Full Time
Work Place: Part Remote
Experience Required: 2+ to 5 years
Education Required: None
Job Description
Compensation:
$9,537.00 - $11,373.00 per Month base, plus 5% for CFA, annual incentive up to 20% of base, plus benefits.
Job Description and Duties
The CalSTRS Investments Branch is seeking an experienced individual to work as an Investment Officer III in the Real Estate Unit.
The Real Estate unit invests in commercial real estate domestically and internationally. The unit currently includes allocations to core, value add and opportunistic risk strategies. The Real Estate unit's responsibilities include investment and operational oversight in order to manage the portfolio.
Under the general direction of the Portfolio Manager, the Investment Officer III provides investment expertise, conducts due diligence on real estate investments, and assists with overseeing existing partnerships and fund management activities, including the acquisition, asset management and disposition aspects of an investment lifecycle. The incumbent proactively seeks out, evaluates, and recommends new investments, funds and firms to partner with CalSTRS. The incumbent is responsible for performing the most complex duties requiring the highest degree of independence and discretionary judgment.
Responsibilities of the Investment Officer III include:
- Supporting efforts to proactively seek out, evaluate, and recommend new investments, Collaborative Managed Accounts, Funds, Co-Investments, Joint Ventures and firms to partner with CalSTRS or increase commitments to existing partners and Accounts to invest in specified investment strategies according to the Real Estate Investments' strategic plan, domestically and internationally.
- Conducting due diligence on new and/or existing real estate investments, including general partner due diligence sessions, site, market area, and physical property inspections and evaluations at various properties located in markets throughout the United States and internationally.
- Actively monitoring existing investments within the portfolio and making investment recommendations.
This position is eligible for incentive compensation and has a maximum incentive opportunity of 20% of base salary.
An Investment Officer III who possesses a professional certification as a Chartered Financial Analyst (CFA) may receive a 5% monthly base pay differential.
The ideal candidate will be a motivated self-starter proven knowledge and experience in real estate investment.
Desirable Qualifications
In addition to evaluating each candidate's relative ability, as demonstrated by quality and breadth of experience, the following factors will provide the basis for competitively evaluating each candidate:
- Bachelor’s degree in finance, economics, business, statistics, or a related field
- Real estate investment experience
- Experience evaluating general partners
- Experience underwriting co-investments, funds, and/or joint ventures
- Experience writing investment memos
- Knowledge of real estate market and different property types
- Strong interpersonal skills
- Excellent written and oral communication skills
- Ability to research, analyze, and interpret information
- Ability to present information clearly, both orally and in writing, to a wide range of audiences
- Ability to effectively analyze information to develop and present appropriate recommendations
- Ability to prioritize and ensure deadlines are met
- Ability to research and analyze complex issues with strong attention to detail
- Ability to work independently
- Ability to work effectively as an individual and as part of a team to support team, unit, and Investments Branch goals
- Strong work ethic with a high degree of integrity
Benefits
CalSTRS offers a competitive pay schedule and a work-life-balance for all its employees. The State of California provides comprehensive benefits packages determined by the employee’s bargaining unit and conditions of employment. Some benefits include:
- Alternative work schedules
- Flexible work hours
- Remote work options
- Medical benefits, including health, dental and vision insurance
- Paid holidays and a defined benefit retirement program
- More than four weeks of vacation/sick leave for leaders
- More than three weeks of vacation/sick leave for staff
- Health insurance in retirement
- Employee Assistance Program
- Loan forgiveness under the federal Public Service Loan Forgiveness Program
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