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 $90+ 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 30 countries. For more information please visit OIM’s website at https://oim.unjspf.org/. This position is located in the Real Estate Team. The incumbent reports directly to the Senior Investment Officer, Real Estate.
Responsibilities
The real estate portfolio of the UNJSPF is global and totals over $5 billion. It consists of over 125 investments in private open-ended and closed-ended real estate funds and is expected to grow significantly in the next three years. Under the overall supervision of the Senior Investment Officer (SIO), the incumbent will be responsible for the following functions: 1. Assists the Senior Investment Officer (SIO) to manage and invest the assets of the Fund in global real estate markets. Provides the SIO with analysis in pre-investment due diligence. a. Balances long-term strategic goals with short-term performance objectives to outperform return benchmarks through dedicated market research and portfolio analysis. b. Monitors the various assigned portfolio holdings and conducts appropriate security analysis at the direction of the SIO. Assists in appraising performance of external managers. c. Complies with risk control parameters as delineated in the investments Policy and Procedures Manual with a goal to produce the optimal investment return that avoids undue risk. d. Integrates Principles of Responsible Investments into investment analysis and monitors both internally and externally managed holdings, subject to OIM’s standards of fiduciary responsibility to the Fund. e. Conducts portfolio review periodically and presents in the Portfolio Review Meeting. f. Conducts portfolio analysis using risk tools and analytical tools. 2. Conducts analysis of potential real estate investments through careful and thorough investment research: a. Performs fundamental analysis through financial statements, market news, and other available information. b. Reviews and synthesizes investment research and discuss with strategists, economists, security analysts through the Advisors/Research Providers in global real estate markets. c. Uses Excel modeling to analyze and support analysis for investment recommendations. d. Attends investment conferences and Seminars to access to academia and industry experts. e. Assists in evaluating the quality of the advice of recommendations submitted by the Fund’s Advisor and appraise performance of external managers employed in the region. 3. Contributes to specific investment recommendations a. Ensures Fund’s four investments criteria, i.e. safety, profitability, liquidity, and convertibility, b. Contributes to making specific investment recommendations through analysis to achieve optimum investment performance, including interviews of fund managers and review of fund documentation, while carefully reviewing the portfolio’s investment objectives and risk tolerance, c. Presents and discusses investment recommendations to the SIO of the relevant sector /region. d. Participates in the discussions and development of investment recommendations for asset allocation for the Fund, including co-investments. 4. Reporting a. Assists in the preparation of reports accurately and timely to the Representative of the Secretary-General for the Investments of the UNJSPF and CIO of OIM when requested. b. Assists the Director of Private Markets in reporting on investments and related matters to governing bodies. c. Promotes a high standard of transparency and accountability in all respects of the management of the assets of the Fund through accurate and timely record keeping. 5. Other a. Must be able to travel domestically and/or internationally at least once monthly.
Competencies
• Professionalism: Has demonstrated ability and strong knowledge of investing in Commercial Real Estate markets private equity investment structures as well as portfolio management. Demonstrated ability and sound knowledge of applied economics, financial modeling, financial statement analysis, spreadsheet analysis and presentation creation. Has sound familiarity with valuation analysis as well as use of financial tools such as Bloomberg, Pitchbook, etc. Has strong Microsoft Excel and Power Point skills. Exhibits good familiarity and knowledge of global commercial real estate investing. Has ability to work under pressure accurately, efficiently, and effectively. Has the highest level of integrity. 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. Takes responsibility for incorporating gender perspectives and ensuring the equal participation of women and men in all areas of work. • 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.
Education
Advanced university degree (Master’s degree or equivalent) in Business and Administration (MBA), Finance, Economics or related field is required. A first-level university degree in combination with additional two years of qualifying experience may be accepted in lieu of the advanced university degree. Chartered Financial Analyst (CFA) designation or CAIA is desirable.
Job – Specific Qualification
Not available.
Work Experience
A minimum of five (5) years of progressively responsible experience of quantitative and qualitative investment analysis in commercial real estate markets is required. Investment management experience in commercial real estate is desirable. Experience working at an Institutional Investor Organization such as Pension funds, Endowments, Foundations is desirable.
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 desirable.
Assessment
Evaluation of qualified candidates may include an assessment exercise which may be followed by competency-based interview.
Special Notice
• 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 underrepresented in the UN Secretariat as of 31 May 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, Thailand, 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.