UCI-OC Alliance
Investment Fellow at NYS Teachers' Retirement System
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Investment Fellow
NYS Teachers' Retirement System
Position Summary
The New York State Teachers’ Retirement System (NYSTRS) Investment Fellows program is a 2-year program during which Investment Fellows move between the various asset classes at 6-month intervals. During the two years, Fellows will be provided hands-on training in each asset class: Fixed Income, Real Estate, Private Equity, and Public Equities. They will work closely with experienced professionals in the finance field and will be paired with a mentor for the duration of the program. The program provides selected Fellows with many benefits including: a hybrid work schedule, flexible working hours, paid time off, state pension, tuition assistance, CFA study time & exam fee support, and more. There will be networking opportunities with executives and senior-level staff as well as professional development programs and participation in system-wide events and activities.
We are seeking to fill two positions for the period of July 2027 through June 2029.
Minimum Qualifications
Applicants must be a bachelor’s or master’s degree student who will receive a bachelor’s or master’s degree between December 2026-May 2027.
Preferred Qualifications
- A bachelor's degree or master's degree in Finance, Accounting, Business Management or a closely related field
- Possess analytical and quantitative skills
- Demonstrate an interest in investments and the pursuit of an exciting and rewarding career
- Some familiarity with capital markets and/or investment theory
- Interest in, or progression towards, industry certifications such as the CFA, CAIA or other relevant certifications
- Competency with Microsoft Office Applications with an emphasis on Excel, Outlook, Power Point, and Word
- Strong written and verbal communication skills
- Ability to work independently and in team settings
- Demonstrate initiative and a curiosity for learning
- Excellent interpersonal skills
Work Modality
Currently we have a hybrid work schedule which may be subject to change in the future.
Job Duties
Private Equity
- Review, analyze, and evaluate domestic and international private equity and private debt investment opportunities
- Conduct quantitative and qualitative due diligence and present findings to the internal private equity team and selectively to the internal investment committee
- Draft investment memos as directed by senior internal Private Equity team staff
- Generate monitoring reports for funds each quarter based on analysis of quarterly financial reports, recent manager interactions, and other funds updates from the System’s private equity and private debt partnerships
- Support senior internal Private Equity team staff in the review of cash flows, market values, and build out of cash flow models as directed
- Participate and take notes at meetings with the System’s private equity and private debt managers, consultants, and peers using a CRM system
- Provide support in the generation of quarterly board reports and other projects as directed
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Real Estate
- Participate in the underwriting of new property /mortgage acquisitions and fund investments
- Monitor the commingled fund universe and evaluate existing System portfolio fund investment performance against comparable peer set
- Participate in on-site diligence inspections for direct real estate acquisition/origination opportunities
- Work with external service providers including separate account advisors, joint venture partners, property managers, leasing agents, accountants, attorneys, appraisers, etc.
- Monitor commingled fund performance to identify drivers of performance, conflicts and concerns
- Present on acquisition and origination activity and investment recommendations at internal department, Internal Investment Committee, Real Estate Advisory Committee and Board meetings (as needed)
- Represent NYSTRS at advisory board meetings as needed
- Stay abreast of real estate market conditions and trends through discussions with industry participants and attendance at industry conferences and trainings
- Participate in the preparation of the portfolio strategic plan
Fixed Income
- Perform assigned fixed income related quantitative and qualitative research and analyses, as well as prepare and develop periodic monthly and quarterly reports (e.g., for Board meetings) as requested
- Perform due diligence and financial analysis on bond issuers being considered for purchase and/or sale in the short- and long-term bond portfolio
- Perform administrative duties as necessary including: preparation, dissemination, follow up for receipt and review of the: annual broker/dealer updates, and five-year broker/dealer questionnaire; annual No Gift policy letter; QIB document; and any counter party related documents that require completing.
- Participate in the active monitoring, due diligence and or research of external fixed income managers
- Assist with the coordination and execution of foreign currency trades in support of externally managed accounts across various System departments
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Public Equities
- Daily monitoring of internal portfolios for consistency with stated objectives.
- Validate the daily investment process; check daily holdings reconciliation reports and facilitate resolution of any position discrepancies and other data related issues.
- Review index changes and corporate action events for impact on internal portfolios and generate recommendations for specific actions resulting from such events.
- Rebalance internal portfolios according to investment guidelines and cash-flow instructions; run optimizations, review optimal portfolio characteristics, and communicate trade instructions to trader
- Generate data/reports as necessary for monthly internal investment committee, investment advisory committee, quarterly board packages, investment policy manual, ACFR
- Participate in relevant conferences and educational sessions to gain exposure to market insights and develop industry awareness through networking with peers
Salary Grade
- Grade 14 (First year of the program)
- Grade 16 (Second year of the program)
Starting Salary
- Grade 14 -$64,966 (First year of the program)
- Grade 16 -$74,785 (Second year of the program)
Job Type
- Temporary
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