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VP Chief Investment Officer

Company: USAA
Location: El Paso
Posted on: February 16, 2020

Job Description:

Purpose of JobThe Vice President, Investment Officer, oversees USAAs investment strategy and portfolios, managing funds whose underlying assets are managed by third-party/unaffiliated investment companies or several internal investment teams. The executive is responsible for functions that encompass both asset allocation and manager selection decision-making and is accountable for appropriately assessing and managing all risks associated with USAAs investment strategy, including financial risk.

The executive leads a team responsible for investment policies and strategies, asset allocation, benchmark construction, manager research and selection, and performance attribution for USAA's insurance, bank, pension, 401(k), and foundations portfolios. The executive selects, monitors and manages relationships with the investment managers/teams. The executive also creates risk and investment guidelines, develops due diligence standards, and executes USAAs investment objectives in a risk-conscious manner.Job RequirementsManagerial Responsibilities

  • Leads design and oversees implementation of USAAs investment strategy, considering USAAs business strategy and nuanced supervisory expectations, including how they apply in a matrixed commercial environment.
  • Role models USAAs mission, core values, culture and desired behaviours including a sound risk culture.
  • Develops talent in the investment department to deliver performance and results including the identification, development and retention of talent with requisite investment strategy capabilities as well as providing leadership and overseeing performance management and staff development activities.
  • Supervises and drives operational planning of the investment department including core business processes and technologies.
  • Oversees funding, budgeting and execution of investment initiatives and projects across the businesses and legal entities.
  • Holds self and others accountable for meeting commitments by setting and clearly communicating expectations and roles and responsibilities relative to investment strategy.Technical and Risk Responsibilities
    • Provides strategic intent and directional guidance to the finance organization in support of CIO and Investment Strategy operations.
    • Selects, monitors and manages relationships with the underlying investment managers/teams.
    • Provides overall direction on strategic asset allocation for client assets and works closely with the client teams to design investment policy and design asset allocation modelling tools to automate the portfolio management function.
    • Maintains effective and efficient investment processes and explores innovative and new approaches to the investment process at USAA.
    • Creates risk and investment guidelines and develops and implements controls to safeguard the assets of funds.
      • Develops, communicates, and reinforces, risk appetite and risk tolerance throughout the investment department in a manner that causes all employees to align their risk-taking decisions.
        • Develops due diligence standards and oversees the development of functional policies, procedures and guidelines.
        • Identifies opportunities and facilitates transformative improvements to operating models and systems.
        • Builds analytical frameworks for asset allocation and manager selection including intensive quantitative and qualitative fund research processes.
          • Identifies, assesses, measures, monitors, and controls material risk consistent with the risk appetite and risk tolerance, including the development, adherence, monitoring, reporting on risk limits and risk limit utilization in the investment department.
          • Notifies 2nd line of defense risk managers when investment portfolio limits are breached and collaborates with them to determine corrective actions. Responds to 2nd line of defense risk management inquiries on investment portfolio strategy, performance, and risk measurements.
          • Serves as a subject matter expert to support 2nd line of defense challenge ALM and balance sheet management strategies.
          • Engages with internal audit during periodic reviews of the risk governance framework.
            • Maximizes return on invested funds by identifying investment opportunities and maintaining strong relationships with the investment community of USAA.
              • Manages the investment portfolio of the corporation and balances portfolio risk and return with corporate objectives.
                • Provides regular communication to executive management regarding changes in regulations, risks, portfolio performance and market factors affecting valuation of related financial instruments under management.Governance CommitteesInteracts with or participates in enterprise governance committees, such as:
                  • USAA Investment Committee
                  • Asset Liability Management Steering Committee
                  • Corporate Asset Liability Management Committee
                  • FSB Asset Liability Management Committee
                  • Enterprise Market and Credit Risk CommitteeEducation
                    • Bachelors degree is required.
                    • Advanced degree such as MBA or Finance is preferred.Experience
                      • A minimum of 12 years of experience in technical discipline (e.g. portfolio management) with a proven track record leading comparable operations and programs is required.
                      • A minimum of 8 years of people leadership experience in building, managing and/or developing high-performing teams is required.
                      • A minimum of 8 years of relevant experience in a large financial institution ($100 billion +), including 5+ years post-Dodd Frank, in a senior staff role within an investment or finance department is preferred.Regulatory Understanding*Demonstrated understanding of the full spectrum of regulatory actions, including examinations and other supervisory engagement and processes, such as:
                        • OCC rules and regulations, including the heightened standards guidelines
                        • Regulations related to management of investment securities, and as overseen by Federal Reserve, OCC, FDIC, NAIC and State RegulatorsCertificationsIndustry certification such as Chartered Financial Analyst (CFA) certification is preferred.Preferred ExperienceChartered Financial Analyst, CFADemonstrated experience interacting with regulatory agenciesDemonstrated experience operating across insurance and banking regulatory environmentsDemonstrated experience implementing or operating with appropriate Risk, Controls and frameworksThis position will be posted internally stating January 6, 2020 and will end on January 13, 202 at 11:59PM CST

Keywords: USAA, El Paso , VP Chief Investment Officer, Executive , El Paso, Texas

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