UN scheme looks to hire chief risk officer
GLOBAL – The in-house investment management firm of the $32bn (€26.5bn) United Nations Joint Staff Pension Fund (UNJSPF) is looking to appoint a chief risk officer, and a senior investment officer to its alternative investment portfolio.
The Investment Management Service (IMS) – headed by director Chieko Okuda – manages all assets for the scheme. The pension fund is headed by chief executive Bernard Cochemé.
The chief risk officer role, based in New York, includes responsibility for risk control of all scheme assets in terms of portfolio risk, operational risk and compliance risk.
Suitable candidates would have demonstrated flexible leadership abilities and have a proven track record of building and managing teams. The UN also demands good judgement-, negotiating- and decision-making skills.
Candidates should have “at least” ten years of “progressive responsible professional experience” in investment risk management and analysis operations.
IMS is also looking to appoint a senior investment officer to its alternative investment portfolio. The position is also based in New York.
Suitable applicants will also have “at least ten years” of practical experience in the management and investment of alternative asset classes.
Competencies will include a demonstrated ability and sound knowledge of applied macroeconomics, ability to work under pressure, and the ability to build and manage teams.
Responsibilities include balancing long-term strategies and short-term tactics to achieve results above benchmark, and the selection and monitoring of alternative asset class funds.
The closing date for both applications is May 5.
A spokesperson for the scheme based in Geneva told IPE that the UNJSPF year-end results for 2005 would be released in July.
The UNJSPF in New York did not respond to questions posed by IPE.
In November 2005, IPE reported the UN pension fund could be reviewing its investment strategy to bring it more in line with the UN’s humanitarian-based mission and objectives.
This followed allegations of the scheme ignoring the UN’s own responsible investment principles.
It emerged that at least a dozen of the 400 companies invested in by the fund didn’t comply with the UN’s “Global Compact” for corporate behaviour. These included mining giants Anglo American and the Rio Tinto Group, and a $275m investment in Exxon Mobil Corp, which opposes the Kyoto Protocol on climate change.