Investment Analyst

Minnesota State Board of Investment; Saint Paul (MN); Hybrid; USD 120,000 - 190,000; Full time

Job summary

The Minnesota State Board Of Investment (SBI) is seeking a motivated analyst to support investment lineups for non-retirement plans and related programs. You will conduct investment manager due diligence, monitor fund performance, and prepare client reports while collaborating with investment professionals across the organization.

Reporting to the Director of Participant Directed and Non-Retirement Investments, you will work with teams in financial services, risk management, public and private

Qualifications

• Bachelor's degree in business or related field.
• Minimum of three (3) years of professional experience at a financial services firm or in a comparable role.
• Proficiency with Microsoft Office applications, particularly Excel, Word, and PowerPoint.
• Demonstrated attention to detail, strong organizational skills, and ability to prioritize multiple tasks.
• Willing participation in and desire to make progress toward CFA.

Responsibilities

• Monitor and Evaluate Investment Options: maintain understanding of investment vehicles and asset class strategies within defined contribution and tax-advantaged savings plans.
• Coordinate Data, Develop Reports, and Distribute Materials: collect, organize, and report investment data; produce team materials and reports.
• Engage with External Stakeholders on Investment Options: represent SBI professionally when engaging with external stakeholders.
• Contribute as a Collaborative Team Member: uphold SBI values; collaborate on plan lineup initiatives and cross-functional projects.

Skills

Attention to detail

Analytical skills

Organization skills

Communication skills

MS Office proficient

Education

Bachelor's degree in business or related field

Pursuing CFA certification

Tools

Excel

Word

PowerPoint

Factset

Bloomberg

Morningstar

Job description

• Division/Unit: State Board Of Investment(SBI) / Part Direct & Non-Retirement
• Education Verification

• Job ID: 97515
• Location: St. Paul
• Telework Eligible: SBI currently utilizes a hybrid model, with a minimum of two anchor days in office per week. This is subject to change at the discretion of the SBI Executive Director.
• Full/Part Time: Full-Time
• Regular/Temporary: Unlimited
• Who May Apply: Open to all qualified job seekers
• Date Posted: 10/08/2026
• Closing Date: 10/26/2026
• Hiring Agency/Seniority Unit: Investment Board / Investment Board-Excluded
• Division/Unit: State Board Of Investment(SBI) / Part Direct & Non-Retirement
• Work Shift/Work Hours: Day Shift
• Days of Work: Monday - Friday
• Travel Required: 0-10%
• Investment Analyst Intermediate Salary Range: $51.05 - $65.79 / hourly; $106,592 - $137,369 / annually
• Investment Analyst Senior Salary Range: $68.88 - $92.85 / hourly; $143,821 - $193,870 / annually
• Classified Status: Unclassified
• Bargaining Unit/Union: 221 - Excluded All Others/Unrep
• FLSA Status: Exempt - Professional
• Designated in Connect 700 Program for Applicants with Disabilities: No

The work you'll do is more than just a job.

At the State of Minnesota, employees play a critical role in developing policies, providing essential services, and working to improve the well-being and quality of life for all Minnesotans. The State of Minnesota is committed to equity and inclusion, and invests in employees by providing benefits, support resources, and training and development opportunities.

The SBI is seeking a motivated, mission-driven individual to support the investment lineups for fire relief plans, tax-advantaged and state-sponsored savings plans, and other non-retirement investment programs. This analyst role provides an opportunity to conduct investment manager due diligence, monitor fund performance, contribute to client reporting, and collaborate with investment professionals across the organization.

Reporting to the Director, Participant Directed and Non-Retirement Investments, the position works collaboratively with teams across financial services, performance, risk management, public markets, and private markets. The analyst will play an important role in advancing the team’s objectives and supporting the SBI’s broader investment mission.

Working together to improve the state we love.

Primary Responsibilities

• Monitor and Evaluate Investment Options: Develop and maintain a strong understanding of the investment vehicles and asset class strategies available within defined contribution and tax-advantaged savings plans. Support the ongoing evaluation of investment options, including maintaining investment manager shortlists, monitoring industry developments and market trends, and assessing the potential implications of changing market environments. Contribute to investment plan menu design and continue to build knowledge and expertise in the role.
• Coordinate Data, Develop Reports, and Distribute Materials: Coordinate the collection, organization, and reporting of investment and plan data, ensuring information is accurate, timely, and accessible to internal and external stakeholders. Lead the development, production, and distribution of team materials and reports. Play a key role in maintaining efficient processes and supporting the team’s overall organization and effectiveness in managing and reporting on its Plans.
• Engage with External Stakeholders on Investment Options: Represent the SBI with professionalism and a high level of service when engaging with external stakeholders. Support outreach and communication efforts with Fire Relief Plans and other public retirement funds, including meeting with self-administered plans to provide information about available investment options, as appropriate. Build strong relationships by communicating investment information clearly and effectively.
• Contribute as a Collaborative Team Member: Demonstrate the SBI’s core values of integrity, professionalism, and collegiality while contributing to an inclusive and collaborative workplace. Serve as a resource to colleagues and peer groups, build effective working relationships across teams, and collaborate on investment plan lineup initiatives. Lead or contribute to cross-functional projects and initiatives that advance the team’s priorities and workplan.

Minimum Qualifications

• Bachelor's degree, with a preference in business or related field
• Minimum of three (3) years of professional experience at a financial services firm or in a comparable role.
• Demonstrated attention to detail, strong organizational skills, and the ability to prioritize multiple tasks, projects, and deadlines.
• Demonstrated ability to analyze, synthesize, and communicate complex financial or investment information accurately for audiences with differing levels of technical expertise, in both written and verbal formats.
• Proficiency with Microsoft Office applications, particularly Excel, Word, and PowerPoint.
• Willing participation in and desire to make continuous progress toward completion of the Chartered Financial Analyst (CFA) program.

Preferred Qualifications

• Bachelor's degree in business or a related field, with demonstrated interest in investments, financial markets, data analysis, or institutional investing.
• Experience working with an asset allocator such as a public or corporate plan sponsor, endowment, or foundation.
• Familiarity with investment-related analytical tools and software such as Factset, Bloomberg, and Morningstar, or comparable tools.
• Proficiency with Microsoft Office applications, particularly Excel and PowerPoint, to manage data and prepare reports, performance tables, presentations, and other professional communications.

Additional Requirements

The State Board of Investment does not sponsor applicants for work visas. All applicants must be legally authorized to work in the US.

• SEMA4 Records Check (applies to current and past State employees only)
• Criminal History Check
• Employment Reference Check
• Social Security and Address Verification
• Education Verification
• Driver's License Check

Benefits

As an employee, you'll have access to one of the most affordable health insurance plans in Minnesota, along with other benefits to help you and your family be well.

Your benefits may include:

• Paid vacation and sick leave
• 12 paid holidays each year
• Low-cost medical, dental, vision, and prescription drug plans
  • Fertility care, including IVF
  • Diabetes care
  • Dental and orthodontic care for adults and children
• 6 weeks paid leave for parents of newborn or newly adopted children
• Pension plan that provides income when you retire (after working at least three years)
• Employer paid life insurance to provide support for your family in the event of death
• Short-term and long-term disability insurance that can provide income if you are unable to work due to illness or injury
• Tax-free expense accounts for health, dental, and dependent care
• Resources that provide support and promote physical, emotional, social, and financial well-being

Support to help you reach your career goals:

• Training, classes, and professional development
• Tuition reimbursement
• Federal Public Service Loan Forgiveness Program (Some positions may qualify for the Public Service Loan Forgiveness Program. For more information, visit the Federal Student Aid website at studentaid.gov)

Employee Assistance Program (EAP) for work/life support:

• A voluntary confidential program that helps employees and their families with life challenges that may impact overall health, personal well-being, or job performance
• Common sources of stress can be addressed through the EAP: mental health, relationship challenges (personal and work), grief and loss, finances, and legal issues
• Daily Living/Convenience Services: Chore services, home repair, trip planning, child/elder care

Programs, resources and benefits eligibility varies

based on type of employment, agency, funding availability, union/collective bargaining agreement, location, and length of service with the State of Minnesota.

EQUAL OPPORTUNITY EMPLOYERS

Minnesota state agencies are equal opportunity, affirmative action, and veteran-friendly employers. State agencies are committed to creating a workforce that reflects the diversity of the state and strongly encourages persons of color and Indigenous communities, members of the LGBTQIA2S+ community, individuals with disabilities, women, and veterans to apply. The varied experiences and perspectives of employees strengthen the work we do together and our ability to best serve Minnesotans.

All qualified applicants will receive consideration for employment without regard to race, color, creed, religion, national origin, sex (including pregnancy, childbirth, and disabilities related to pregnancy or childbirth), gender identity, gender expression, marital status, familial status, age, sexual orientation, status regarding public assistance, disability, veteran status or activity in a local Human Rights Commission or any other characteristic protected by law.

Applicants With Disabilities

Minnesota state agencies make reasonable accommodations to their employees and applicants with disabilities. If you have a disability and need assistance in searching or applying for jobs with the State of Minnesota, call the Careers Help Desk at 651-259-3637 or email [e-mail] and let us know the support you need.

Contact

If you have questions about this position, contact Sally Spreeman at [e-mail] or 651-284-7879.