Description

Who We Are 

The Texas Permanent School Fund (PSF) is a constitutionally established education endowment with a 150+ year history of supporting Texas public schools. Today, PSF manages more than $57 billion in assets and invests with a long-term perspective to generate sustainable funding for Texas K–12 education. Through a diversified investment platform, along with strong operational, legal, financial, and governance functions, PSF serves as a careful steward of public capital. Our work helps secure billions of dollars in school district bonds and supports more than 5 million students across 1,000+ school districts statewide. Guided by principles of fiduciary responsibility, integrity, and service to Texans, PSF plays an enduring role in strengthening public education and investing in Texas’s future. 

Job Summary 

You will report to the CEO or DCIO of the Texas Permanent School Fund (TPSF) and be responsible for the selection, due diligence, and ongoing oversight of external investment managers and fund investments. In this role, you will lead investment analysis, performance monitoring, and portfolio construction, while also managing investment management agreements and supporting contract negotiations in partnership with legal counsel. You will play a key role in portfolio risk management, asset allocation, and process improvement by leveraging data, analytical tools, and industry best practices. You will also actively participate in investment and risk committee meetings and maintain current market and industry knowledge through continuing education and professional engagement. You will manage, develop, provide guidance and leadership to the investment team made up of analysts, officers, and AVPs. Responsible for recruiting, managing, and developing a team of investment professionals.   

Duties & Responsibilities  

• Portfolio Management and Investment Selection  
  Perform complex asset management work across a portfolio of equity and hedge fund investments, including portable alpha structures. Lead the selection of external investment managers across index, enhanced index, active equity, and low-beta absolute return hedge fund strategies, including macro, trading platforms, long/short equity and credit, and other non-correlated strategies. Define and monitor investment management agreements and related schedules, working closely with legal counsel during contract negotiations. Coordinate ongoing manager relationships and communications and oversee due diligence files and deal-flow databases related to manager selection. Analyze, evaluate and summarize financial data and prepare management reports. Apply advanced investment research and analysis techniques, conducting exhaustive evaluations of financial data and market trends using a variety of resources and tools. 
• Manager Oversight  
  Manage ongoing day-to-day oversight of external investment managers and general partners, including investment analysis, communications, and knowledge transfer. Conduct and document initial and ongoing investment due diligence, evaluate portfolio management and oversight processes, and recommend enhancements informed by data, tools, and best practices. Monitor portfolio and manager performance relative to benchmarks, manage pacing, liquidity, and cash flows, and make investment recommendations. Collaborate with the Head of Risk Management to model co-investments, thematic overlays, and risk-management strategies, maintaining accountability for portfolio risk and return outcomes in alignment with approved objectives and risk parameters. 
• Committee Participation and Governance  
  Participate in internal investment portfolio forums, including Investment Committee and Risk Committee meetings. Prepare and present investment analyses, performance reports, and recommendations for committee review. Ensure adherence to approved investment policies, guidelines, and governance requirements, maintaining thorough documentation to support audit, compliance, and fiduciary oversight.  
• Professional Development and Knowledge Sharing  
  Pursue continuing education, professional training, and industry engagement to broaden personal knowledge, skills, and expertise. Actively share knowledge and insights with team members, support the development of colleagues through mentorship, cross-training, and collaboration, and contribute to building institutional investment capabilities. Participate in industry events and forums both to enhance individual expertise and to strengthen the team’s collective understanding of markets, managers, and best practices. 

Required Minimum Qualifications 

Education 

Graduation from an accredited four-year college or university with degree in finance, accounting, economics, or related field.   

Experience 

• A minimum of fifteen (15) years’ experience in investments or related quantitative analysis work.  
• At least five (5) years’ experience recruiting, managing, and developing a team of investment professionals.
• Strong experience with financial databases and software applications to include advanced Excel skills, Word, and PowerPoint.
• Expansive relationships with Equity and Hedge Fund managers and industry work groups.  
• Experience with analysis, evaluation, and investment in equity and hedge fund investments.  
• Experience in investment research and analysis and familiarity with market tools. 
• Extensive knowledge and experience in derivative markets related to risk management and portable alpha. 
   

Preferred Qualifications 

Graduation from an accredited graduate degree program with a Master of Business Administration or advanced degree in statistics.  
Chartered Financial Analyst (CFA) and/or Chartered Alternative Investment Analyst (CAIA) designation. 
 

Knowledge/Skills/Abilities 

• Support the PSF mission - share the belief that all Texas students can achieve at high levels – college, career, military - and are deserving of exceptional public education.
• Knowledge of financial analysis, valuation principles and due diligence concepts pertaining to public market investments.  
• Knowledge of absolute return investment process, including due diligence process, investment monitoring and investment reporting.  Basic knowledge of fund accounting, procedures, and market operations; of investment banking; of statistical concepts and methods and their application to research analysis; of various financial data systems; and of macroeconomics.
• Must demonstrate initiative and ability to work in a fast-paced, changing environment.
• Must participate in the broad management of the endowment through active engagement with the Investment Committee, Board of Directors, and other relevant internal and external stakeholders.
• Ability to maintain the security or integrity of the infrastructure. 
   

Physical Requirements 

Ability to sit and work at a desk and computer for extended periods. Work requires mobility around the worksite routinely to carry out duties. This position may periodically require the ability to lift, carry, move and/or set up equipment and materials that weigh up to 15 pounds.  

Travel/Schedule Requirements 

Domestic and/or international travel up to 15% 
Hybrid office/telework schedule with majority of time spent in-office. 
Ability to work/travel outside of normal business hours. 
 

Key Benefits 

Texas PSF’s status as a special purpose governmental corporation allows for a unique opportunity to provide state employee benefits along with other company perks. Our extensive state employee benefits package includes retirement benefits, employer paid health and basic life insurance, generous paid holidays, and multiple retirement options—along with longevity pay and a range of optional insurance plans. You can find additional benefits details atwww.ers.texas.gov. Employees also enjoy various in-house training and professional development opportunities, free downtown parking, flexible work arrangements, and an office location near the Moody Amphitheater at Waterloo Park.