Investment Officer, Small Cap & Asset Allocation Manager Equities

United Nations Joint Staff Pension Fund (UNJSPF); New York (NY); On-site; USD 150,000 - 210,000; Full time

Job summary

United Nations Joint Staff Pension Fund (UNJSPF) is hiring an Investment Officer for Global Small Cap Equities in New York. You will manage global small-cap mandates, contribute to strategic asset allocation, and oversee external manager research and due diligence to support the Fund's long-term objectives.

The role involves portfolio oversight, risk management, and collaboration with senior leadership across internal and external teams to ensure safety, profitability, liquidity, and compliance

Qualifications

• Seven years minimum experience in asset allocation and portfolio management in global long-only equities.
• CFA designation is desirable.
• Experience in external manager research and IMA negotiations is desirable.
• Experience coordinating due diligence meetings and drafting investment recommendations is desirable.
• ESG compliance and governance experience in institutional investments desirable.

Responsibilities

• Manage a portfolio of global small-cap, long-only public equity mandates, including passive and active strategies.
• Develop and implement strategic and tactical asset allocation and portfolio rebalancing decisions.
• Provide investment recommendations on small-cap vs large-cap allocations and regional exposures.
• Monitor portfolio performance against risk limits and benchmarks and implement manager changes.
• Lead external investment manager research, selection and due diligence with the External Management Team.
• Conduct portfolio and manager analysis, review disclosures, and assess market developments.
• Apply quantitative portfolio analysis, factor analysis and risk management tools.
• Engage with external managers, strategists, economists, analysts, and providers to assess opportunities.
• Collaborate on IMA negotiations and ensure investment guidelines and ESG requirements are met.
• Present investment performance and risks at quarterly reviews and prepare reports for senior management and governance bodies.

Skills

Quantitative analysis

Asset allocation

Portfolio management

Due diligence

External manager research

Risk management

Education

MBA or equivalent

Bachelor’s degree in related field

Tools

eVestment

Factset

Morningstar

Bloomberg

MSCI

Job description

Investment Officer, Small Cap & Asset Allocation Manager Equities, P4 (Job Opening No. 287379)- Deadline to apply: 13 December 2026

Job Summary

Join the Office of Investment Management (OIM) of the United Nations Joint Staff Pension Fund (UNJSPF) as a Investment Officer – Global Small Cap Equities and play a key role in managing global small-cap equity portfolios and advancing the Fund's long-term investment objectives. This position offers an opportunity to contribute to strategic and tactical asset allocation, external manager selection, portfolio performance, and risk management within a globally recognized institutional investment organization.

OIM manages a $100+ billion multi-asset class global investment portfolio, approximately 85% of which is actively managed in-house across global equities, fixed income, foreign exchange, private equity, real estate, infrastructure, timber, and commodities. OIM brings together investment and operational professionals from more than 45 countries, working collaboratively to support the Fund's long-term investment objectives.

This position is based in New York within the Equities Small Cap Manager Team of the Public Equities Section and reports directly to the Director of Public Equities. The Investment Officer is responsible for managing a portfolio of global small-cap, long-only public equity mandates, encompassing internally and externally managed passive funds, active fundamental strategies, and quantitative investment strategies.

The incumbent is responsible for implementing strategic and tactical asset allocation decisions, monitoring portfolio performance against benchmarks and risk limits, conducting external manager research and due diligence, and overseeing portfolio rebalancing and manager changes. Working closely with investment, quantitative, risk, and external management teams, the Investment Officer will contribute to investment recommendations, strengthen portfolio oversight, and support the Fund's objectives of safety, profitability, liquidity, and convertibility.

Job Responsibilities

• Manage a portfolio of global small-cap, long-only public equity mandates, including internally and externally managed passive funds, active fundamental strategies, and quantitative strategies, to support overall portfolio performance objectives.
• Develop and implement strategic and tactical asset allocation and portfolio rebalancing decisions, considering market conditions, investment objectives, and risk parameters in consultation with the Director of Public Equities.
• Provide investment recommendations on small-cap versus large-cap allocations, regional exposures, and investment styles to support asset allocation decisions across the broader equity portfolio.
• Monitor portfolio and benchmark performance, ensuring investments remain within established risk limits, tracking-error targets, and performance objectives, and implement manager changes and rebalancing as required.
• Lead and coordinate external investment manager research, selection, and due diligence, working closely with the External Management Team to assess existing managers and identify potential new investment opportunities.
• Conduct comprehensive portfolio and manager analysis, reviewing financial and corporate disclosures, market developments, investment strategies, and publicly available research to support investment decisions.
• Apply quantitative portfolio analysis, factor analysis, and risk management tools to evaluate portfolio exposures, investment strategies, and manager performance.
• Engage with external investment managers, strategists, economists, security analysts, research providers, and industry experts to assess market developments and investment opportunities.
• Collaborate with the External Management Team on Investment Management Agreement (IMA) negotiations and implementation, ensuring appropriate investment guidelines and operational requirements are considered.
• Ensure portfolio investments comply with applicable investment policies, guidelines, and Environmental, Social and Governance (ESG) requirements, while supporting the Fund's investment principles of safety, profitability, liquidity, and convertibility.
• Conduct periodic portfolio assessments and present investment performance, risk exposures, manager evaluations, and recommendations at quarterly Portfolio Review Meetings.
• Prepare timely and accurate investment reports, presentations, and recommendations for senior management and support reporting to governing and oversight bodies, including the UNJSPF Pension Board, Fifth Committee, Board of Auditors, and Office of Internal Oversight Services (OIOS).
• Maintain professional investment expertise by monitoring developments in global equity markets, portfolio management techniques, quantitative investment strategies, and institutional investment practices.
• Perform other related duties as required.

Required Qualifications, Capabilities, and Skills

• Advanced university degree (Master's or equivalent) in Business Administration (MBA), Finance, Economics or related field is preferred.
• A first level university degree in combination with academic qualifications and experience in investment management may be accepted in lieu of the advanced degree.
• Chartered Financial Analyst (CFA) designation is desirable.
• A minimum of seven years of progressively responsible experience in asset allocation and portfolio management in global long only equities, implementing asset allocation and investment strategies, ability to analyze external fundamental and passive strategies is required.
• Quantitative analytical experience in portfolio management, including factor analysis is required.
• Participation in due diligence of manager searches, monitoring IMA negotiation process, monitoring the compliance and ESG aspects of the IG, oversight of portfolio of external managers and global public equity investment analysis in an institutional investment environment is desirable.
• Experience of external manager databases and other quantitative tools and system - such as eVestment, Factset, Morningstar, Bloomberg, MSCI etc. is desirable.
• Experience in coordinating due diligence meetings and drafting investment recommendations is desirable.
• Five or more years of experience in fund management in equity investments at a Pension Fund or large sized institutional investor is desirable.
• Experience in drafting Investment Management Agreements is desirable.
• Opportunity to manage global small-cap equity investment mandates within a globally recognized institutional investment organization overseeing a $100+ billion investment portfolio.
• Play a key role in strategic and tactical asset allocation, portfolio construction, external manager selection, and investment performance management.
• Work closely with senior investment leadership, portfolio managers, quantitative analysts, risk professionals, and external investment managers on high-impact investment decisions.
• Gain exposure to global equity markets, fundamental and quantitative investment strategies, portfolio risk analytics, and institutional investment governance.
• Work in a diverse, multicultural, and mission-driven international environment representing more than 45 countries.
• Contribute to the Fund's long-term investment objectives through disciplined portfolio management, investment research, and effective oversight of global small-cap equity strategies.