Teacher Retirement System of Texas (TRS) is developing groundbreaking solutions to manage retirement & healthcare services as well as maximizing investment returns for the state’s public education employees. Succeeding in life is about commitment and hard work—maybe a favorite school teacher imparted that idea to you along the way. At TRS, we take that to heart and believe life can also be a balance between giving back while excelling professionally.
The Senior Manager of Investment Audit Services performs highly advanced (senior-level) managerial internal auditing work. Work involves overseeing the division’s consulting and advisory services for investment operations, managing complex internal audit assurance projects for investment and financial divisions, and assisting the Chief Audit Executive with internal audit administration. Works under minimal supervision with extensive latitude for initiative and independent judgment. Plans, assigns, and supervises the work of others.
State Classification: 1605/Manager VI/B28
WHAT YOU WILL DO:
Consulting and Advisory Services
• Manages and oversees the department’s consulting and advisory services related to investment processes, activities, and financial accounting and reporting.
• Provides input to management on investment policies, securities lending policies, soft dollar policies, and trading policies to ensure that they are consistent with state and federal securities laws and relevant industry practices.
• Provides advice on the front-end of programs or new investment portfolios so that risk may be managed and internal controls designed at the beginning of a program or portfolio.
• Provides advice on additional policies, procedures, and internal controls.
• Participates in various committees in a non-voting capacity.
• Improves the consulting and advisory service process, including researching benchmark information and industry best practices and developing standard policies and procedures based on research.
• Prepares the annual Investments audit plan using a risk assessment methodology and input from stakeholders in accordance with auditing standards.
• Manages complex performance, financial, or compliance audit projects, primarily in the investment and finance areas.
• Manages audit staff in planning, organizing, conducting, and monitoring audit projects.
• Ensures that audit work (including agreed-upon procedures) conforms to quality control standards.
• Prepares, reviews, or approves audit objectives, scope, and testing procedures for assigned projects.
• Counsels and guides staff to see that approved audit objectives are met and that adequate coverage is achieved.
• Procures, directs, and supervises the work of external firms that provide specialized services in investment and information technology areas, including asset allocations, private and public markets, energy and natural resources, manager due diligence, hedge funds, emerging managers, and information technology systems.
• Communicates results of audits to management, the Audit Committee, and the Board of Trustees.
• Reviews and approves quarterly investment compliance reports presented to the Audit Committee and/or the Risk Management Committee of the Board.
Internal Audit Administration
• Manages or provides significant input to the development of the Annual Audit Plan and the Internal Audit Annual Report with special emphasis on investment audits.
• Assists the Chief Audit Executive in preparing for Audit Committee meetings and developing requests for contracted services.
• Researches audit tools and leading audit practices for recommendation to the Chief Audit Executive.
• Represents Internal Audit at management and Board meetings and with external organizations.
• Serves as acting audit executive in the Chief Audit Executive's absence as delegated.
Performs related work as assigned
WHAT YOU WILL BRING:
• Bachelor’s degree from an accredited college or university.
• Preferred Master’s degree or a second certification may substitute for one (1) year of the required experience. Preferred Master’s degree and a second certification may substitute for two (2) years of the required experience.
• Six (6) years of full-time, progressively responsible investment management, investment auditing, and/or compliance monitoring experience, including five (5) years directly managing professional staff.
• Three (3) years of experience in auditing or managing investment operations and processes.
Registration, Certification, or Licensure:
• Certified Public Accountant (CPA), or Chartered Financial Analyst (CFA), or Certified Internal Auditor (CIA) or ability to obtain within 12 months of hire.
• Master’s degree in business administration or a related field.
• Experience in managing teams of investment managers or managing investment compliance personnel or managing audits in investments and providing advisory services for business process and control analysis.
• Certification as a Chartered Financial Analyst (CFA).
• Certification as a Certified Public Accountant (CPA).
Internal Number: REQ 170
About Teacher Retirement System of Texas
The Teacher Retirement System of Texas is responsible for investing funds under its stewardship and for delivering benefits to members as authorized by the Texas Legislature. TRS is a defined benefit plan, with retirement benefits determined by a pre-established formula. The trust fund is sustained principally by three sources -- contributions by members during their working careers, contributions by the state and investment revenues.
TRS was founded over 80 years ago. With assets at $154 billion, the Trust is the largest public retirement system in Texas in both membership and assets. It is the sixth largest public pension plan in the U.S. and is among the 20th largest in the world. The agency serves more than 1.5 million people. Over 1 million are public and higher education members and over 400,000 are retirement recipients and beneficiaries. As of FY 2017, pension benefits totaling nearly $10 billion were paid to retirees and their beneficiaries.