Investment Committee Member

2 months ago


Edmonton, Canada City of Edmonton Full time

**Job Number**:50766**

The Investment Committee assists in the development of the Investment Policy and monitoring compliance with that Policy relating to the management of various funds controlled by the City of Edmonton. These funds, which total $4 billion, are invested to achieve the highest possible rate of return at a prudent level of risk. The Investment Committee recommends to the Chief Financial Officer an overall Investment Policy for each fund. The Committee will monitor the funds to ensure they are invested to fulfill their purpose and financial objectives. The Committee assists in guiding the investment structure and implementation strategies.

**Committee Responsibilities**:

- Review Investment Policy regularly and recommend changes to the Chief Financial Officer
- Review Terms of Reference for the Investment Committee and recommend changes as necessary to the City Manager
- Examine investment strategies and philosophies (asset class, investment sectors and security types)
- Analyze capital market review assumptions and investment implementation strategies
- Monitor services of external managers, performance measurement service provider, custodian and other consultants
- Meet the high standards required to oversee a complex pension plan and must fully accept their fiduciary responsibility to the Corporation
- Monitor City Policy and statutory compliance and advise the City Manager of any non-compliance issues
- Monitor the investment performance of all City funds against benchmarks, funded status, mandates and advise as appropriate
- Review actuarial studies and simulations with investment consultants
- Meet with investment managers, performance measurement advisors, custodians and external auditors
- Assist the Chief Financial Officer in preparing an Annual Report on investment performance and policy and statutory compliance for recommendation to the City Manager and City Council
- Receive reports, evaluate performance and provide advice
- Confirm and report to the City Manager on policy and statutory compliance issues on a quarterly basis

**Qualifications**:

- Related post-secondary education; preferably a degree in business, administration or a related discipline
- Chartered Financial Analyst (CFA) designation would be considered an asset
- Extensive portfolio management experience acquired through working in an investment operation of a large municipality, corporation, or investment management firm
- Significant executive leadership experience in a government environment
- Considerable background in board governance and senior oversight responsibilities
- Highly sophisticated risk management skills and related strategic decision-making experience
- Significant background in asset liability management, its impact to investment strategies, the development of investment policies and portfolio management
- Ability to analyze and evaluate data, document findings, and recommend changes
- Present complex ideas to diverse audiences, build positive relationships and establish clear expectations
- Communicate with strong political acumen, strategic planning, issue resolution and decision-making skills
- Ability to evaluate important decisions with respect to significant investment activity
- Service excellence, embracing diversity and promoting inclusiveness and a respectful workplace
- Ability to incorporate an equity perspective, including GBA+ or other similar processes

**Terms of Office**:

- The term for external committee members is to be set at three years or less, with no external member serving more than two consecutive terms, unless otherwise approved by the City Manager.

**Time Commitment**:

- Meetings will be held at least quarterly and monthly when possible.

**Conditions of Employment**:

- Hire is dependent on Criminal Information Check satisfactory to the City of Edmonton. There may be a cost associated with this requirement.
- Talent sourced through this process may be considered for similar opportunities within the City of Edmonton._

**Posting Expiry**: Oct 24, 2024 11:59:00 PM (MDT)

IND123

**Classification Title**: Investment Committee Member

**Posting Date**: Oct 3, 2024

**Closing Date**: Oct 24, 2024 11:59:00 PM (MDT)

**Number of Openings (up to)**: 1 - Ongoing Part-time

**Union**: Management

**Department**: Agencies, Boards, Committees and Commissions



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