Employment Opportunities

  

 

 

1. Cash Management Director - Recruitment #210406-1499MP-001
Introduction

The Office of the State Treasurer exists to provide and ensure effective financial management of public resources, high standards of professionalism and integrity, and expanding opportunity for State of Connecticut residents and businesses.

Under the leadership of Connecticut's State Treasurer Shawn T. Wooden, the Office of the Treasurer (OTT) is dedicated to safeguarding the state's financial resources and taxpayers' dollars, while maximizing returns, minimizing risks and operating at the highest professional and ethical standards.  Through investments and disbursements, the office continues to enhance the state's fiscal stability, financial literacy, college savings, and its approach to leveraging business partnerships to combat social issues such as gun violence, climate change, and equal opportunity in economic growth.

We are recruiting for a Cash Management Director to work full-time, 40 hours per week in the Cash Management Division, located in Hartford, CT, with a Monday to Friday schedule.

Division Overview

The Office of the Treasurer, through its Cash Management Division, is responsible for managing the state’s cash movements, banking relationships and short-term investments, including: Maintaining maximum investment balances by ensuring more timely deposits, controlling disbursements, minimizing bank balances and banking costs, and providing accurate cash forecasts; Earning the highest current income level in the Short-Term Investment Fund (STIF), providing for the safety of principal, first, and the provision of liquidity, second;  Providing responsive services to STIF investors;  Prudently investing more stable fund balances for longer periods and higher yields, including banks that meet standards for financial strength and community support;  Protecting State deposits through well-controlled internal operations and use of banks that meet standards for financial strength;  Improving operating efficiency by increased use of electronic data communication and funds processing; and Providing State agencies with technical assistance on cash management and banking issues.

The Cash Management Division consists of 18 employees under the direction of an Assistant Treasurer, organized into three areas of specific responsibility: The Bank Control and Reconciliation unit maintains accountability for the State’s internal and external cash flow. The unit tracks the flow of funds through 18 Treasury bank accounts and authorizes the release of State payroll, retirement and vendor checks. More than three million transactions are accounted for and reconciled annually. The unit also processes stop payments and check reissues. In addition, the unit works with state agencies to speed the deposit of funds and identify mechanisms to reduce banking costs, reviews state agencies’ requests to open new bank accounts, maintains records of the State’s bank accounts held by individual banks, reviews bank invoices and compensation, and manages the Division’s procurement efforts for new bank services. The unit also manages the insurance collateral program in conjunction with the Department of Insurance, which requires companies writing insurance policies in the State to deposit securities and funds totaling a fixed percentage of the policies’ value. On June 30, 2020, approximately $359 million in securities were pledged to the program.

Selection Plan

All applicants must include a resume within the "Resume Tab" of their application.  Applicants invited to interview may be required to submit additional documentation, which supports their qualification(s) for this position.  These documents may include:  performance reviews, supervisory references, college transcripts, licensure, etc., at the discretion of the hiring agency.

Should you have questions pertaining to any phase of this recruitment, please contact:  Lorna Reid, lorna.reid@ct.gov.

Purpose of Job Class (Nature of Work)

In the Office of the Treasurer Cash Management Division this class is accountable for direction of staff and the operations of a major sub-division.

Examples of Duties

Recommends, implements and evaluates division policies, goals and objectives; designs and develops division programs and activities; implements new procedures and makes procedural revisions; directs management and coordination of unit staff; participates in preparing the division budget.

BANK CONTROL AND RECEIPT UNIT: Directs staff in operation of recording receipts, disbursements, account adjustments of all State of Connecticut Funds; directs the recording of all civil list deposits for State of Connecticut as well as all payroll, lottery and vendor disbursements for State of Connecticut; recommends new legislation; monitors pending legislation and implements new legislation; performs related duties as required.

CASH CONTROL AND FORECASTING UNIT: Directs staff in maintenance of sufficient cash balance in State bank of deposit to cover items presented for collection; monitors daily cash receipts and disbursements from depository banks and directs reserves to a bank of concentration for immediate investment; prepares and monitors detailed cash projections in time frames appropriate to realize maximum investment return on State common cash; performs related duties as required.

CASH REPORTING, ACCOUNTING AND RECONCILIATION UNIT: Directs staff in reconciliation on bank accounts maintained by State Treasurer; develops, recommends, evaluates and implements reconciliation policies and procedures; directs preparation of monthly and annual financial reports; provides assistance to other state agencies on Federal Reserve Regulations; performs related duties as required. 

Knowledge, Skill, and Ability

Considerable knowledge of and ability to apply management principles and techniques; considerable knowledge of accounting principles and practices; considerable knowledge of cash management practices and procedures; interpersonal skills; oral and written communication skills; considerable ability to interpret and apply complex statutes and accounting procedures; considerable ability in preparation and analysis of financial statements and statistical reports. 

Minimum Qualifications - General Experience

Ten (10) years' experience in accounting, auditing or public finance. 

Minimum Qualifications - Special Experience

Two (2) years of the General experience must have been in cash management at the professional level in a supervisory capacity.

Notes:

  1. Professional level accounting work is interpreted as work performed as a professional accountant, auditor, examiner or financial officer with responsibility for the exercise of independent analysis and judgement in the application of accounting principles and practices.
  2. For state employees this is the level of a Supervising Accountant.
Minimum Qualifications - Substitutions Allowed
  1. College training may be substituted for the General Experience on the basis of fifteen (15) semester hours equaling one-half (1/2) year of experience to a maximum of four (4) years for a Bachelor's degree.
  2. A Master's degree in business administration or a closely related field may be substituted for one (1) additional year of the General Experience.

 

2. Investment Officer - Private Markets - Recruitment #210405-1224MP-001

 

 

Introduction

The Office of the State Treasurer exists to provide and ensure effective financial management of public resources, high standards of professionalism and integrity, and expanding opportunity for State of Connecticut residents and businesses.

We are accepting applications for the position of Investment Officer, to work in the Pension Funds Management Division at our location in Hartford, CT.  This is an unclassified position, and is appointed in accordance with Section 3-13a of the Connecticut General Statues (CGS).  The position is full-time (40 hours per week), with a Monday - Friday schedule.

The Pension Funds Management Division assists the State Treasurer, as principal fiduciary, in the administration of the $41 billion Connecticut Retirement Plans and Trust Funds (CRPTF). The CRPTF consists of six State Pension Funds and nine State Trust Funds.  The funds are invested in a diversity of asset classes and exist to sustain 219,000 teachers, state and municipal employees. 

The incumbent in the role of Investment Officer - Private Markets will assist in overseeing the CRPTF Private Market investments, including the Real Assets Fund (RAF), the Private Investment Fund (PIF) and the Private Credit Fund (PCF) that collectively have a target asset allocation of 34% of the CRPTF's total market value.  Under the general direction of the Principal Investment Officers of each private market fund, responsibilities include, but are not limited to, the following:

Research and Manager/Investment Selection

·  Assist in the identification and selection of appropriate private investments across various sub-strategies including private equity, private credit, real estate, infrastructure, and natural resources

·  Monitor the investable universe and maintain a database of opportunities across the spectrum of private investments

·  Assist in the evaluation and selection of external investment managers and a variety of investment vehicles – including fund investments, direct investments and co-investments

·  Review and evaluate investment ideas, trends and strategies across all private investment asset classes

·  Stay abreast of capital market conditions and pro-actively identify and research new strategic initiatives and tactical investment opportunities

·  Conduct independent research and analysis of potential investments and investment managers

·  Determine consistency with established investment objectives and criteria and clearly articulate findings and recommendations to the PIO

·  Assess risk factors associated with assigned investment opportunities

 Monitoring and Risk Management

·  Perform ongoing monitoring, analysis, and reporting of investments as well as the aggregate portfolios

·  Attend annual meetings as needed, conduct quarterly calls and/or meetings each quarter with each manager and provide written overview of communications with managers

·  Review quarterly reports and financial statements and communicate significant team, valuation or policy changes

·  Monitor existing investments for compliance with established objectives, guidelines; and parameters

·  Prepare a variety of reports including special project reports, reports on investment performance, and correspondence

·  Establish and maintain investment databases and prepare spreadsheets and other presentations of investment information

·  Discuss investment issues and problems with external investment managers and recommend appropriate action

Reporting

·  Prepare portfolio reviews summarizing performance, portfolio analytics and market data

·  Prepare and maintain investment reports on fund managers in the portfolios, as well as those under consideration

NOTE:  The successful candidate will receive an attractive and commensurate salary, based upon applicable work experience.

Selection Plan

Candidates should have a Bachelor’s degree from an accredited four-year college or university with major coursework in business administration, finance, accounting, economics, or a related area, along with:

  • A minimum of 7 years of investment, finance, accounting or related business experience required.
  • Investment experience related to foundations, endowments, plan sponsors, private banks or insurance companies.
  • Private markets institutional experience preferred, including familiarity with terms and structures.
  • Demonstrated analytical and quantitative skills and proficiency with excel preferred.
  • Experience with privatei, eFront, Investran or other private equity software.
  • Ability to work both independently and as a team member.
  • Ability to generate both qualitative and quantitative independent analysis.
  • Ability to independently prioritize multiple tasks, plan and manage projects in their entirety and ensure they are delivered on time.
  • Excellent verbal and written communication and presentation skills, including the demonstrated ability to articulate ideas and issues clearly to a variety of audiences.
  • Ability to prepare and/or edit complex reports involving logical and quantitative analysis.

All applicants must include a resume within the "Resume Tab" of their application.  Applicants invited to interview may be required to submit additional documentation, which supports their qualification(s) for this position.  These documents may include:  performance reviews, supervisory references, college transcripts, licensure, etc., at the discretion of the hiring agency.

Should you have questions pertaining to any phase of this recruitment, please contact:  Lorna Reid, lorna.reid@ct.gov.

Purpose of Job Class (Nature of Work)

In the Investment Division of the Office of the State Treasurer, this class is accountable for managing one or more investment programs or trust funds (e.g., real estate, short term, equities, international trade, etc.).

Examples of Duties

Plans, directs and coordinates the implementation and operation of an investment program or trust fund (e.g., real estate, short term, equities, international trade etc.); maintains close contact with government and private sector officials (e.g., investment banking firm employees, external investment advisors, financial consultants, bank officials, corporate treasurers, clients of the Investment Division, etc.); conducts periodic reviews of on-going investment programs and recommends changes in strategy as required; stays informed on events and other factors which could affect investment programs; conducts feasibility reviews of potential investments and makes appropriate recommendations; analyzes economic indicators in investment markets; decides priorities of investment options; maintains appropriate performance records; prepares reports requested by the State Treasurer; performs related duties as required.

Knowledge, Skill, and Ability

Considerable knowledge of investment practices and procedures; considerable knowledge of specific disciplines required for performance of duties (real estate, short term, etc.); considerable oral and written communication skills; considerable ability to analyze and evaluate investment alternatives; considerable ability to prepare financial and analytical reports; considerable ability to plan and maintain appropriate controls and records of investment transactions; supervisory ability.

Preferred Qualifications

An advanced degree in finance, economics, or a related field as well as a CAIA or CFA designation is preferred.

 

3. Claims Analyst - Recruitment #210407-0399AR-001

 

Introduction

The Office of the State Treasurer exists to provide and ensure effective financial management of public resources, high standards of professionalism and integrity, and expanding opportunity for State of Connecticut residents and businesses.

Under the leadership of Connecticut's State Treasurer Shawn T. Wooden, the Office of the Treasurer (OTT) is dedicated to safeguarding the state's financial resources and taxpayers' dollars, while maximizing returns, minimizing risks and operating at the highest professional and ethical standards.  Through investments and disbursements, the office continues to enhance the state's fiscal stability, financial literacy, college savings, and its approach to leveraging business partnerships to combat social issues such as gun violence, climate change, and equal opportunity in economic growth.

We are recruiting for a Claims Analyst to work full-time, 40 hours per week in the Unclaimed Property and Second Injury Fund Division, located in Hartford, CT, with a Monday to Friday schedule.  NOTE:  Candidates are required to submit proof of current adjuster license. Applicants will be required to travel, attend workers compensation hearings and manage a case load.

The Claims Analyst will be responsible for reviewing each request based on state law, any orders and/or memoranda issued by the Workers’ Compensation Commission (WCC) and documentation submitted in support of the request. They will then submit the request to the Claims Manager for review and submission to the Accounting unit for payment.

About the Second Injury Fund

The Second Injury Fund ("SIF" or "the Fund") is a state operated workers' compensation insurance fund established in 1945 to discourage discrimination against veterans and encourage the assimilation of workers with a pre-existing injury into the workforce. Public Act 95-277 closed the Fund to new "second injury" claims for injuries sustained on or after July 1, 1995 and expanded enforcement, fines and penalties against employers who fail to provide workers' compensation coverage. Prior to July 1, 1995, the Fund provided relief to employers where a worker, who already had a pre-existing injury or condition, was hurt on the job and that second injury was made "materially and substantially" worse by the first injury (thus the term "Second Injury Fund"). Such employers transferred liability for these workers' compensation claims to the Fund, if certain criteria were met under the Connecticut Workers' Compensation Act.  

The Fund seeks to provide quality service both to the injured workers and employers of Connecticut, whom it jointly serves, and accomplishes this by adjudicating qualifying workers' compensation claims fairly and in accordance with applicable law, industry standards and best practices.   In addition, The Fund currently has almost 2,400 open claims and more than 2,800 Workers’ Compensation hearings annually. 

The Fund’s book of business has steadily changed over the years.  During the last several years, the Fund has been required to meet new Medicare quarterly reporting requirements which follow stringent guidelines; closely monitor claims for prescribed medications; monitor the legalization of medical marijuana in states where claimants live and determine the impact to The Fund; implement a new web-based computer system; and process the continuously increasing number of requests for reimbursement.

Selection Plan

All applicants must include a resume within the "Resume Tab" of their application.  Applicants invited to interview may be required to submit additional documentation, which supports their qualification(s) for this position.  These documents may include:  performance reviews, supervisory references, college transcripts, licensure, etc., at the discretion of the hiring agency.

Should you have questions pertaining to any phase of this recruitment, please contact:  Lorna Reid, lorna.reid@ct.gov.

Purpose of Job Class (Nature of Work)

In the Office of the State Treasurer, this class is accountable for independently performing a full range of professional tasks in the review and analysis of workers’ compensation claims and coordination of other related program activities.

Example of Duties

Reviews legal and medical documentation relevant to pending workers’ compensation claims to determine liability and/or eligibility; acts as liaison between attorneys, insurance carriers and others to obtain information necessary to determine liability, eligibility and/or compensability; analyzes claim information and identifies issues regarding liability and/or eligibility; monitors cases to ensure accuracy of continued benefit; recalculates benefit payments to determine accuracy of amounts and duration; determines action plan to facilitate employee return to work or settlement of claim; negotiates settlements; identifies and works to recover payments; prepares demand letters and liens; processes requests for reimbursement from carriers and self-insurers for payments made to claimants; submits recommendations on claim transferability or contested liability to Special Funds Administrator; drafts transfer agreements; schedules pre-hearing conferences on contested transfer claims; assists Office of the Attorney General in case hearing preparation; prepares files for transfer to Second Injury Fund Claims Examination Unit; assists in establishment of policies and procedures; trains new employees as necessary; may represent, attend or assist in preparation of informal or formal hearings; performs related duties as required.

Knowledge, Skill, and Ability

Considerable knowledge of and ability to interpret and apply workers' compensation statutes and regulations; knowledge of medical terminology; considerable oral and written communication skills; interpersonal skills; ability to read, understand and interpret legal documents and other written materials; ability to utilize computer software.

Minimum Qualifications - General Experience

Six (6) years of experience in the case management of workers' compensation claims.

Minimum Qualifications - Substitutions Allowed

  1. College training may be substituted for the General Experience on the basis of fifteen (l5) semester hours equaling one-half (l/2) year of experience to a maximum of four (4) years for a Bachelor's degree.
  2. Certification as a Workers' Compensation Claims Law Associate (WCCLA) may be substituted for 2 (two) years of the General Experience.
  3. Possession of a current State of Connecticut Workers' Compensation Casualty Adjuster License may be substituted for one (1) year of the General Experience.
Preferred Qualifications
  • Experience in case management of Worker's Compensation Claims
  • Must possess a current State of CT Worker's Compensation Casualty Adjuster License
  • Experience with case hearings preparation
  • Knowledge of medical terminology

 

4. Chief Investment Officer - Pension Fund Management Division

 

The State of Connecticut Treasurer's Office, Pension Fund Management Division is hiring a strategic senior investment professional to lead the Division as Chief Investment Officer (CIO) responsible for day-to-day administration and advising the Treasurer on the investment of approximately $41 billion in assets.

 

For more information, including how to apply, click here.

 

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CONNECTICUT IS AN AFFIRMATIVE ACTION/EQUAL OPPORTUNITY EMPLOYER

The State of Connecticut is an equal opportunity/affirmative action employer and strongly encourages the applications of women, minorities, and persons with disabilities.