Reporting to the Executive Director & Chief Investment Officer, the Risk Officer oversees all aspects of NYSTRS’ risk management program.
The duties of the Risk Officer will include, but are not limited to, the following: • Increase the System’s ability to identify; measure; aggregate; manage; report and monitor material enterprise, investment and information security risks to achieving the System’s strategic mission and vision, within predetermined tolerance levels across System activities • Design and implement a risk management framework including roles and responsibilities; risk appetite and tolerance; key risks and key risk indicators; and risk assessment, monitoring and communication procedures; for all significant risks facing the System including those related to investments, operations and information security. • Facilitate identification of risk events that may adversely affect managing assets and liabilities, meeting liquidity requirements, maintaining an appropriate funding level and ensuring proper administration of member benefits • Ensure risk tolerance levels and limits are considered in the strategic decision-making process • Measure and report on NYSTRS Fund level investment risks, especially market and liquidity risks; and key contributors to risk • Work closely with the Information Security Response Team, the Information Technology departments and Internal Audit in establishing and monitoring appropriate information security policies and procedures • Oversee the risk assessment processes for enterprise, investment and information security risks • Ensure procedures are in place to apprise senior management and the Retirement Board of significant risk exposures faced by the System and how those risks are mitigated or managed • Act as a resource and provide updates and reports to the Executive Director & Chief Investment Officer and the Risk Committee of the Board for NYSTRS’ material enterprise, information security and investment risks • Act as a resource to senior managers and facilitate setting of broad-based policies and developing the System’s risk management philosophy, risk appetite, risk tolerance and culture and may directly assist management in modifying and developing processes and controls to manage risks • Meet periodically with senior managers responsible for major functional areas to review their responsibilities as they pertain to risk management • Oversee and direct the day-to-day activities of the Enterprise and Investment Risk Management departments • Develop and maintain strong communications and relationships with all other departments • Attend and make presentations at Internal Investment Committee and Board Risk Committee meetings • Oversee special projects and research as assigned • Maintain and review the Risk Charter annually and recommend changes, if any, to the Executive Director & Chief Investment Officer
A bachelor’s degree and 10 years practical experience either directly engaged in, or in support of, enterprise, investment and/or information security risk management, investment portfolio management, or related compliance activities; at least which five of those years were served in a management role.
Substitutions: Holding a Certified Public Accountant (CPA), Chartered Financial Analyst (CFA), Certified in Risk and Information Systems Control (CRISC), Certified Information Security Manager (CISM), Certified Information Systems Security Professional (CISSP) or similar designation may substitute for one year of experience. Holding an advanced degree in finance, accounting, business administration, economics, statistics, computer science or related field of study may substitute for one year of experience. A maximum of two years of experience substitution is permitted.
• Certified Public Accountant (CPA) or similar designation • Chartered Financial Analyst (CFA) or similar designation • Certified in Risk and Information Systems Control (CRISC), Certified Information Security Manager (CISM), Certified Information Systems Security Professional (CISSP) or similar designation • Significant experience working for a public defined benefit pension plan • Five years of experience in a senior management role leading enterprise, investment and/or information security risk management programs • Significant experience developing an enterprise risk management program and risk framework, including identifying key risks, key risk indicators, risk appetites and tolerance and reporting protocols • Significant experience applying industry recognized enterprise risk management frameworks such as those developed by the Committee of Sponsoring Organizations (COSO) or National Institute of Standards and Technology (NIST), among others • Significant experience conducting enterprise-wide strategic, operational or information security risk assessments and developing risk treatment strategies in support of the organization’s strategic objectives • Significant experience determining priorities for targeted risk assessments and recommending risk treatments based on emerging needs of the organization • Significant experience developing and implementing mathematical models • Strong understanding of investment management principles, liquidity management and investment risk factors • Significant experience with multi-asset class investment risk systems • Significant experience leading an information security response team • Significant experience designing and implementing appropriate internal controls • Experience overseeing or implementing a comprehensive insurance program • Significant experience facilitating resolution of complex issues and developing action plans/ mitigating strategies • Demonstrated ability to lead complex projects from initiation to implementation • Experience developing case studies and leading workshops • Ability to establish and maintain positive working relationships with organizational staff at all levels, Board members and external parties • Ability to see big picture and set department-wide priorities to focus staff • Demonstrated ability to anticipate problems and react appropriately • Ability to assess risks and controls within a business process, identify weaknesses and recommend improvements • Strong written and verbal communication skills
Internal Number: AS104P
About New York State Teachers Retirement System
NYSTRS is the second-largest public retirement system in the state and one of the 10-largest public pension funds in the nation.
Established in 1921 by the New York State Legislature, NYSTRS provides retirement, disability and death benefits to eligible New York State public school teachers and administrators.
Our Mission: To provide our members with a secure pension.
Our Vision: To be the model for pension fund excellence and exceptional customer service.
We serve nearly 264,000 active members and over 169,000 retirees and beneficiaries.
Membership in NYSTRS is mandatory for all full-time teachers, teaching assistants, guidance counselors and administrators employed in New York State public schools (excluding New York City), Boards of Cooperative Educational Services (BOCES), and eligible charter schools that opted to participate as an employer in NYSTRS.
Membership for teachers employed less than full time is optional. Employers are required to notify part-time teachers in writing of their right to membership in the System.
Teachers employed by a New York State community college or SUNY (excluding graduate assistants or teaching assistants) may elect membership in NYSTRS or the Optional Retirement Program.