Senior Investment Officer (Mortgage Backed Securities) - P5 - OCHA

OCHA

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/.  This position is located in the Fixed Income Team. The incumbent reports to the Director of Fixed Income. The Fixed Income portfolio of the UNJSPF consists of allocations to US treasuries, credit, securitized, high yield and local currency emerging market debt.

Responsibilities

Within delegated authority, the Senior Investment Officer will be responsible for the following duties:   

• Provides leadership, decision making and accountability in the management of the portfolio and to increase its return against the benchmark while managing risks prudently.  
• Manage the use of derivatives within the portfolio in order to enhance portfolio construction and optimization. 
• Provides policy guidance to section, on conceptual strategy development and management of the implementation of overall strategies by undertaking top-down analysis of economic/financial trends, liquidity flows, political and regulatory framework relevant to security selection in US securitized markets. 
• Performs bottom-up and top-down investment research, utilizing multiple sources, including primary research through relevant government bodies and/or company visits; recommend specific securities to be purchased and sold. 
• Plans and oversees the management of activities undertaken by the unit; ensures that substantive work programmes and programmed activities are carried out in a timely fashion, coordinating diverse projects in the unit by formulating investment policies and strategies to construct a portfolio of securitized assets; analyze outside market funds to recommend funds appropriate to the UNJSPF, when necessary. 
• Prepare investment strategies and contribute to asset allocation by asset classes as well as sector allocation within the US securitized market; 
• Manages, supervises, and carries out the work programme of the Unit under his/her responsibility.  
• Co-ordinates the work carried out by the Unit; provides programmatic and substantive reviews of drafts-prepared by others.  
• Provides substantive input in the preparation of position papers and reports for presentation to intergovernmental bodies such as the Advisory Committee on Administrative and Budget Questions, Pension Board of the General Assembly, as appropriate among others: a) Preparing reports on investment returns and strategy for review and discussion in regular scheduled internal portfolio review and staff-advisor meetings.  b) Participates in Investments Committee meetings and prepare the required inputs.  c) Initiating e and leading special projects designed to improve the investment management decision process at OIM and enhance performance.  d) Evaluating the advice and recommendations provided by external non-discretionary advisors and externally managed funds.  
• Ensures that the outputs produced by the Unit maintain high quality standards; that reports are clear, objective and based on comprehensive data. Ensures that all outputs produced by the unit under his/her supervision meet required standards before completion to ensure they comply with the relevant mandates. 
• Prepares inputs for the work programme of the unit, determining priorities, and allocating resources for the completion of outputs and their timely delivery. 
• Carries out administrative tasks necessary for the functioning of the Unit, including monitoring of performance parameters and critical indicators, reporting on budget performance, preparation of inputs, evaluation of staff performance, interviews of candidates for job openings and evaluation of candidates: a) Recruits staff for Unit taking due account geographical and gender balance and other institutional values. b) Manages, guides, develops, and trains staff under his/her supervision. c) Fosters teamwork and communication among staff in the Unit and across organizational boundaries. d) Represents the Organization at interagency meetings, seminars, etc. on substantive issues. e) Participates in international, regional or national conferences and provides programmatic/substantive expertise on an issue or hold substantive and organizational discussions with representatives of other institutions. 
• Reporting. a) Reports accurately and timely to the Representative of the Secretary-General for the Investments of the UNJSPF, the Chief Investment Officer and CIO of OIM when requested. b) Assists in reporting on investments and related matters to Governing Bodies, including the United Nations Joint Staff Pension Board, the Fifth Committee, the ACABQ, the BOA, and OIOS c) Collects and analyzes data to identify trends or patterns and provide insights through graphs, charts, tables and reports using data visualization methods to enable data-driven planning, decision-making, presentation and reporting.

Competencies

Core Competencies:  Professionalism:  Demonstrated ability and sound knowledge of US securitized markets across both asset classes and sectors.  Robust portfolio management experience encompassing security analysis and selection across the securitized market and deliver effective results. Ability to utilize various portfolio management and data processing tools; such as Bloomberg and familiarity with the use of Internet applications and MS Office programmes. The ability to analyze and interpret data using a variety of platforms and tools in support of decision-making within the securitized market and related assets and convey resulting information to management; the ability to analyze and interpret data in support of decision-making and convey resulting information to management; 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.  Able to analyze and interpret data in support of decision-making and convey resulting information to management.  Teamwork: Works collaboratively with colleagues to achieve organizational goals; solicits input by genuinely valuing others' ideas and expertise; is willing to learn from others; places team agenda before personal agenda; supports and acts in accordance with final group decision, even when such decisions may not entirely reflect own position; shares credit for team accomplishments and accepts joint responsibility for team shortcomings.  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.  Judgement/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 the actions proposed will satisfy the expressed and underlying needs for the decision; makes tough decisions when necessary.

Education

Advanced university degree (Master's or equivalent) in Business Administration (MBA), Finance, Economics or related field is required. A first level university degree in combination with professional qualifications and experience in investment management may be accepted in lieu of the advanced degree.

Job - Specific Qualification

Not available.

Work Experience

A minimum of 10 years of progressively responsible investment management experience in US securitized markets is required.    A minimum 7 years' experience as a buyside Portfolio Manager of a large and complex securitized portfolio is required.    A minimum 5 years' experience managing a securitized portfolio with assets under management of at least USD2.5 billion is required.

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 an advantage.

Assessment

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

Special Notice

• Funding for this position is subject to approval and therefore, the selection and onboarding of the successful candidate may be expected in early 2025.  •  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 31 August 2024, are strongly encouraged to apply: Andorra, Angola, Antigua and Barbuda, Bahrain, Belize, Brunei Darussalam, China, Cuba, Democratic People's Republic of Korea, Dominica, Equatorial Guinea, Germany, Grenada, Guinea-Bissau, Hungary, Indonesia, Israel, Japan, Kiribati, Kuwait, Lao People's Democratic Republic, Libya, Liechtenstein, Malta, Marshall Islands, Micronesia (Federated States of), Monaco, Nauru, Oman, Palau, Panama, Papua New Guinea, Paraguay, Qatar, Republic of Korea, Saint Lucia, Saint Vincent and the Grenadines, Sao Tome and Principe, Saudi Arabia, Singapore, Solomon Islands, Somalia, Timor-Leste, Turkmenistan, Tuvalu, United Arab Emirates, United States of America, Vanuatu.

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.

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Sector: Nonprofit/Community/Social Services/International Cooperation

Role: Other

Working hours (%): 80-100% / 100%

Job type: Staff (Permanent and Fixed Term)