Finance Analyst III, LACERA (Real Estate)

  • LACERA
  • Pasadena, California
  • Nov 29, 2023
Full Time Accounting and Finance Administrative Analysis and Research Real Estate
  • Salary: $181,224.24 - $274,296.84 Annually USD Annually
  • Salary Top: 274296 USD Annually

Job Description

POSITION INFORMATION

This examination will remain open until the needs of LACERA are met and may close without prior notice.

TYPE OF RECRUITMENT: Open Competitive Job Opportunity

EXAMINATION INFORMATION: Examination Number: 9-0769-CC Job Bulletin Number: 23-15

Annual Salary:
$181,224.24 - $274,296.84

Placement within this salary range depends on qualifications. This position is subject to the provisions of the County's Management Appraisal and Performance Plan (MAPP).

A 3% salary increase is approved effective January 1, 2024.

The Los Angeles County Employees Retirement Association (LACERA) administers and manages the $73 billion retirement fund for the County of Los Angeles. We provide retirement, disability, and death benefits to eligible County Employees and their Beneficiaries, and collect, deposit, invest, and manage retirement funds collected from the County, Outside Districts, and County Employees. LACERA is one of the largest county retirement associations in the United States with over 184,000 Members. Our Membership is comprised of individuals from a diverse range of careers, age groups, and ethnicity - all contributing to the greater welfare of Los Angeles County.

LACERA is located in Gateway Plaza at 300 North Lake Avenue in the beautiful City of Pasadena. The building is easily accessible from the Foothill Freeway (210) and the Metro Gold Line Lake Station. We offer convenient free parking in our secure structure adjacent to the building in addition to a robust rideshare program providing commuting alternatives such as ride-matching, vanpool, carpool, parking services and more. Prioritizing health, well-being, and sustainability, Gateway Plaza is a Class “A” office building, LEED Gold Certified and EPA Energy Star Certified. With a Walkability Score of 91, LACERA staff members are able to easily enjoy the approximately 150 shops, food, and dining options that make up the popular South Lake Avenue District.

Our Members dedicate their careers contributing to the welfare of Los Angeles County. For their service, the County contributes to their promised benefits, and LACERA is dedicating to serving them in return throughout their career and their life afterwards. If you are interested in being part of this rewarding team, LACERA invites you to apply!

Benefits include a cafeteria benefit plan (14.5%-17% of monthly salary), annual leave, defined benefit retirement plan, Savings Plan (401k), Deferred Compensation Plan (457), 13 paid holidays per year, savings plan, a hybrid work schedule, and a ride share program.

LACERA Mission: To produce, protect, and provide the promised benefits to our members.

LACERA Vision: Empowering our members to enjoy a healthy and secure retirement.

LACERA Values: Our Core Values serve as our cultural guide and foundation in meeting our mission. As a member-focused government agency, we abide by our core values to ensure the public's trust, operate efficiently and cost effectively, and provide our members their promised benefits.

LACERA Core values include - Accountability, Innovation, Collaboration, Integrity, Inclusivity, and Transparency.

ABOUT THE POSITION: The Investments Division is comprised of the following asset classes: Public Equities, Private Equity, Real Assets (Infrastructure, Natural Resources, Commodities), Real Estate, Fixed Income, Hedge Funds, Illiquid Credit, Direct Investments (Private Markets), Portfolio Analytics (Risk Management) and Environmental, Social and Governance (Stewardship).

The position entails working on the team responsible for planning and monitoring LACERA’s Real Estate Portfolio investments. Core Real Estate represents 6% of LACERA’s Total Fund strategic asset allocation as part of the Real Assets and Inflation Hedges risk category and Non-Core Real Estate represents 4% of LACERA’s Total Fund strategic allocation as part of the Growth risk category. The position involves all aspects of real estate investment management including program structure, implementation, the diligence of managers/funds, preparation of recommendations, negotiating agreements, and developing and implementing Board-approved plans. The Real Estate portfolio consists of both private commingled funds and direct real estate holdings currently entirely managed by external advisors. The position also works with other areas of the Investment office on cross-asset projects and functions. The position includes involvement with the areas of environmental, social, governance (ESG) considerations, risk management, asset allocation, and performance reporting.

Vacancy Information: The current vacancy is in the Real Estate Section; however, the resulting eligible register can be used to fill both current and future vacancies throughout the Investment Division.

Work Schedule: This full-time position is required to work a 5/40 schedule (e.g. an eight (8) hour day, Monday through Friday), with occasional nights and weekends in emergent situations. LACERA offers a hybrid work environment, and this position may be eligible to telework up to three (3) days per week.

This position is an exempt position as defined by the Fair Labor Standards Act and not eligible for overtime.

CERTIFICATION BONUS: Any permanent, full-time employee working in this classification possessing a valid Chartered Financial Analyst (CFA) certification from the CFA Institute is entitled to a Certification Bonus equal to two (2) salary schedules (approximately 5.5%) as provided by the Los Angeles County Step Pay Plan.

Benefits: LACERA offers a comprehensive benefits package that includes medical and dental coverage, 401k Plan, 457 Plan, defined benefits pension plan, retirement healthcare benefits, tuition reimbursement program, paid holidays, and annual leave.

EXAMPLES OF ESSENTIAL JOB FUNCTIONS

The following examples are intended to describe the general nature and level of work performed by persons assigned to each classification. Depending on the assignment, duties may include, but are not limited to the following:

Prepares recommendations regarding investment policy, portfolio investment strategies, new investment vehicles, and trading practices.

Participates in the process of review, selection, and retention of outside investment managers.

Negotiates contracts for Board approval for investment managers and other investment related services.

Monitors capital markets, economic forecasts, and provides the Board with ongoing analyses of the state of the global economic situation as it relates to LACERA's investment program.

Develops and implements, under the direction of the Senior Investment Officer, LACERA, Principal Investment Officer, LACERA, and the Chief Investment Officer, investment strategies in accordance with goals and guidelines adopted by the Board of Investments.

Directs the preparation of recommendations for the Senior Investment Officer, LACERA, Principal Investment Officer, LACERA, and the Chief Investment Officer regarding potential impact of pending legislative changes to LACERA's investment program.

Votes or votes by proxy on matters of corporate governance at annual and special meetings of corporations in which LACERA holds an equitable interest in conformance with Board of Investments stated policies and consultants recommendations; and directs the analyses and recommendations for changes to such policy as new issues appear in corporate governance.

Recommends appropriate investment procedures which ensure proper due diligence review and appropriate written documentation for all investment actions.

Recommends reporting mechanisms to properly inform the Senior Investment Officer, LACERA, the Principal Investment Officer, LACERA, the Chief Investment Officer and the Board of Investments as to the status of the asset class.

Recommends and maintains operational procedures with custodial banks, investment managers and related parties to ensure the smooth operational function of transactions and business.

Recommends a system of records and files for pertinent documents, records, and instruments to ensure the integrity of the program.

Reviews real estate acquisitions, appraisals, cash flows, and expenses; provides reports and information to the Senior Investment Officer, LACERA, the Principal Investment Officer, LACERA, the Chief Investment Officer and the Board of Investments regarding the state of LACERA's real estate investment program and the general condition of the real estate market.

May assist in directing, planning and supervising the activities of professional staff assigned to an asset class of LACERA's investment portfolio.

May act in the absence of the Senior Investment Officer, LACERA as required.

REQUIREMENTS

SELECTION REQUIREMENTS:
A Bachelor's degree from an accredited college or university in Finance, Economics, Business Administration or a related field -AND- Four (4) years' responsible investment management experience assisting in the continuing supervision and review of an extensive investment program for a large financial institution or governmental agency.

-OR-
A Master's Degree in Business Administration or a related field and two (2) years' of responsible investment management experience assisting in the continuing supervision and review of an extensive investment program for a large financial institution or governmental agency.

-OR-
Two (2) years' of experience at the level of Los Angeles County's position of Finance Analyst II, LACERA.

LICENSE:
A valid California Class C Driver License or the ability to utilize an alternative method of transportation when needed to carry out job-related essential functions.

PHYSICAL CLASS II Light: Light physical effort which may include occasional light lifting to a 10 pound limit, and some bending, stooping or squatting. Considerable walking may be involved.

ADDITIONAL INFORMATION

DESIRABLE QUALIFICATIONS:

  • Demonstrated experience in developing and implementing investment policies (e.g. Investment Policy Statement), procedures, asset category investment structures, and guidelines (e.g. Investment Program Guidelines) related to real estate investments in separate accounts and private fund vehicles in the achievement of broader portfolio strategic asset allocation objectives.
  • Demonstrated success in an institutional investment portfolio management position for a real estate portfolio achieving superior returns relative to a relevant market benchmark within risk expectations and recommending investment decisions, selecting investments, funds, or managers, or making redemptions or asset dispositions.
  • Demonstrated experience executing co-investments in real estate.
  • Demonstrated experience in researching, evaluating, and monitoring existing public and private real estate investments at an in-depth level across a broad number of investments. Proficiency in analyzing data, using investment performance and risk analytics systems that include real estate, developing an in-depth understanding of sources of relative performance and risks and synthesizing and summarizing historical performance results, and working with service providers such as custody banks, administrators, and investment consultants.
  • Demonstrated knowledge of real estate investment strategies and markets gained by five (5) or more years of investment industry experience.
  • Demonstrated experience in researching, evaluating, participating in the due diligence of, negotiating terms for, and establishing guidelines for external real estate managers at an in-depth level across a broad number of potential investment strategies considered. Experience working with legal counsel on real estate investments.
  • Excellent oral and written communication skills with demonstrated experience presenting formal reports and recommendations to a Board or Investment Committee for informed, actionable decisions.
  • Demonstrated ability to work independently, meet project deadlines, assist in the development of actionable, achievable, results-oriented work plans and help achieve team objectives at an institutional investment organization.

Knowledge of: Conducting due diligence on real estate investment strategies; creating tailored reports, analyses, and presentations; building and maintaining an institutional portfolio, including developing investment structures and guidelines; correct English usage, grammar, spelling, punctuation, and vocabulary; analytical skills; interpersonal skills; principles and applications of Microsoft Applications including Word, Excel, and PowerPoint.

Ability to: Communicate clearly and effectively, orally and in writing, present recommendations to internal review groups and LACERA Board; maintain effective working relationships with investment managers, investment consultants, other external advisors, and LACERA staff; understand and follow oral and written directions; provide leadership; work with minimum supervision; plan and organize their work and the work of others; and operate a personal computer utilizing Microsoft applications such as Word, Excel, and PowerPoint.

EXAMINATION CONTENT: This selection process will consist of:

Part I: A qualifying evaluation of application information, desirable qualifications and supplemental questionnaire.

Only the highest qualified applicants as determined under Part I, will be invited to continue in the selection process under Part II.

Part II: An Appraisal (Oral) Interview weighted 100%.

The appraisal (oral) interview will assess the applicant's knowledge, experience, and general ability to perform the essential functions of the position.
Those candidates which are determined eligible for hire under the Los Angeles County's Civil Services Rules may be invited to the selection process which may be comprised of a selection interview and/or job-related assessments.
APPLICANTS MUST MEET THE REQUIREMENTS AND ACHIEVE A PASSING SCORE OF 70% OR HIGHER ON THE WEIGHTED PORTIONS OF THE EXAMINATION IN ORDER TO BE PLACED ON THE ELIGIBLE REGISTER.

All notifications including invitation letters will be sent electronically to the email address provided on the application. It is important that you provide a valid email address. Please add snorton@lacera.com and info@governmentjobs.com to your email address and list of approved senders to prevent email notifications from being filtered as spam/junk/clutter mail. Test scores/results cannot be given over the telephone.

DO NOT select "Off" under Email Preferences within your profile or click "Unsubscribe" on our notices if you would like LACERA to notify you regarding your application status, test schedules, and other important information pertaining to your candidacy for this position.

LACERA will not consider claims of not viewing or receiving notification to be a valid reason for late test administration or rescheduling of a test component.

ELIGIBLE INFORMATION
The names of candidates receiving a passing grade will be placed on the eligible register in the order of their score group for a period of twelve (12) months following the date of promulgation.APPLICATION AND FILING INFORMATION:

Application must be submitted online. Applicants can check the status of their applications at any time by logging into their account on www.governmentjobs.com.


The acceptance of an employment application depends upon whether or not an applicant has provided adequate information that clearly demonstrates meeting the Selection Requirements for the position as stated above. Please complete the application and supplemental questionnaire thoroughly and completely. Information provided in the supplemental questionnaire must be reflected in the application to be considered.

Failure to provide complete information on the employment application and on the supplemental questionnaire will impact the assessment of an applicant's qualifications and acceptance in the selection process.

Applications submitted without the complete work history and the supplemental questions completed in their entirety will be rejected as incomplete. "See application" or "See resume" or copy and paste of work experience is not sufficient or qualifying responses.

Resumes will not be accepted in lieu of the completed application or supplemental questionnaire.


In the space provided for education, include the names and addresses of schools attended, and number of credits, degree, and/or certificate(s) earned.

In order to receive credit for any college course work, or college degree, such as an Associate, Bachelor, Master, Doctorate degree, or for completion of a certificate program, you must include a legible copy of the official diploma, official and/or unofficial transcripts, or an official letter from the accredited institution which shows the area of specialization or official certificate(s) at the time of filing or within ten (10) business days from application submission date.

Applicants must provide the appropriate attachments during application submission, email the documentation to humanresources@lacera.com within ten (10) business days of filing. Please include the examination title and number on the documentation.

Failure to provide the appropriate documentation may result in your application being rejected as incomplete and will be removed from consideration.

Your employment history should be listed in order beginning with the most recent.

For each job held, provide the name and address of your employer, your job titles, beginning and ending dates, description of work performed, and reason for leaving.

If you have worked in more than one position for one employer, list each job title and/or area of assignment separately on the application to demonstrate your experience in various assignments/occupational areas.

Part-time experience will be evaluated on the basis of its fractional equivalent of a 40-hour workweek.

All required experience must be paid.

This position may require working evenings, weekends, and holidays.

TO APPLY ONLINE GO TO: www.lacera.com and click on the Careers link.

Faxed, emailed, or hardcopy (paper) applications will not be accepted.

COMPUTER AND INTERNET ACCESS AT PUBLIC LIBRARIES: For candidates who may not have regular access to a computer or the internet, applications can be completed on computers at public libraries throughout Los Angeles County.

Candidate(s) who complete examination process with acceptable results will be considered by the Department hiring authority. Upon an offer of employment, a comprehensive background investigation will be conducted, which includes verification of experience, and/or education, credit history, and fingerprinting through the California Department of Justice and the Federal Bureau of Investigation.

IMPORTANT NOTE:
Please note that
ALL information included in the application materials is subject to VERIFICATION at any point during the examination and hiring process, including after an appointment has been made. FALSIFICATION of any information may result in DISQUALIFICATION or RESCISSION OF APPOINTMENT .

Utilizing VERBIAGE from the Classification Specification, Minimum Requirements, and/or Desirable Qualifications serving as your description of duties WILL NOT be sufficient to demonstrate that you meet the requirements. Doing so may result in an INCOMPLETE APPLICATION and you may be DISQUALIFIED . Applications may be rejected at any stage of the examination process.

SPECIAL INFORMATION:
Anti-Racism, Diversity, and Inclusion (ARDI)
LACERA recognizes and affirms that all people are created equal and are entitled to all rights afforded by the Constitution of the United States. LACERA is committed to promoting Anti-racism, Diversity, and Inclusion efforts to address the inequalities and disparities amongst race. We support the ARDI Strategic Plan and its goals by improving equality, diversity, and inclusion in recruitment, selection, and employment practices.


Fair Chance Initiative for Hiring Ordinance (FCIHO)
LACERA is a Fair Chance employer. Except for a very limited number of positions, you will not be asked to provide information about a conviction history unless you receive a contingent offer of employment. LACERA will make an individualized assessment of whether your conviction history has a direct or adverse relationship with the specific duties of the job, and consider potential mitigating factors, including, but not limited to, evidence and extent of rehabilitation, recency of the offense(s), and age at the time of the offense(s). If asked to provide information about a conviction history, any convictions or court records which are exempted by a valid court order do not have to be disclosed.

Requests for accommodation: humanresources@lacera.com
Teletype Telephone: (800) 899-4099
Department Contact Name: Sharon Norton
Department Contact Telephone: (626) 553 -7030
Department Email: humanresources@lacera.com

The Los Angeles County Employees Retirement Association (LACERA) recognizes excellence and performance by providing comprehensive and competitive benefit programs to its employees. Emphasis is directed toward offering you and your family a variety of benefits that help meet your needs and balance your career with your personal life. The main theme of all of the programs is flexibility.

MegaFlex Benefit Plan - Benefits may be purchased using a tax free monthly benefits allowance of 14.5% - 17% of the Staff Member's monthly salary. If the monthly cost of the benefits selected is less than the monthly allowance, the Staff Member receives the difference as additional taxable pay.

Medical, dental, disability, life and AD&D insurance, annual leave, and health and dependent care spending accounts are available in MegaFlex.

Defined Benefit Retirement Plans - to learn more about these plans, contact us at (800) 786-6464.

Savings Plan (401k) - Optional tax-deferred income plan that includes a County match up to 4% of employee's salary.

Deferred Compensation Plan (457) - Optional tax-deferred income plan that includes a County match of up to 4% of employee's salary.

Leave Time - Instead of traditional sick and vacation leave, employees earn 10 days of annual leave per year and may buy up to 20 additional days of annual leave.

Holidays - 13 days per year.

Bereavement leave

Flexible Spending Accounts - Employees may contribute up to $400 per month tax-free, to Health Care and Dependent Care Spending Accounts. The County contributes $75 per month to the Dependent Care Spending Account.

Rideshare Benefits - Monthly transit subsidy, pass purchase program, monthly vanpool subsidy, commuter choice subsidy.

Tuition Reimbursement subject to availability of funds.

This information is intended to provide a general summary of benefits available to staff members of LACERA and is not legally binding.

Base Pay

181,224

Job Address

Pasadena, California United States View Map