Careers At Dormitory Authority of the State of New York

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Assistant Director, Investments

Department: Investments
Location: Albany, NY

Position Title:                    Assistant Director, Investments
Grade/Classification:        7(D1) Manager or Equivalent
Bargaining Unit:                CSEA Local 698
FLSA Status:                      Exempt
Hiring Rate:                        $107,170


Primary Purpose

The Assistant Director, Investments oversees the day-to-day operations of the Investments Unit and  manages DASNY's investment portfolio.

Essential Functions

  • Recommend, design, develop and implement policies, procedures, strategies, investment systems, including related applications, databases and reports relative to the daily operations of the Investment Unit.
  • Prepare various financial reports for management, the DASNY Board of Directors and external entities.
  • Liaise with senior staff, external auditors, financial institutions, clients and various government entities.
  • Monitor and report on the performance of external service providers including the evaluation of broker dealer performance, replacing non-performing broker dealers when appropriate and reporting such performance to the Board as stipulated.
  • Participate in the negotiation of various client Memoranda of Understanding.
  • Maintain DASNY's Investment Guidelines and recommend changes as appropriate while ensuring compliance by broker dealers, banks, trustees and other third parties.
  • Oversee the monitoring of DASNY investments in accordance with DASNY's investment guidelines, policies and procedures.
  • Oversee the day-to-day operations of the Investments unit including the purchase, sale and re-investment of securities, monitoring of cash balances, transfer of cash for scheduled and off-cycle check runs, opening and closing of bank accounts and report preparation.
  • Review and approve various financial transactions/documents such as re-investments, wire transfers, bid sheets, asset reconciliations and daily investment collateral transactions.
  • Perform/review complex financial calculations and analyses, such as account reconciliations, allocations and projections.
  • Oversee each institution's compliance with certain covenants of the bond documents, i.e. reserve fund requirements, restricted debt accounts, etc.
  • Oversee the design/development, implementation and maintenance of an electronic investment trading system.
  • Manage the RFP/selection process as may be required, lead the evaluation of banking relationship, implement latest technological solutions available as practical to DASNY (remote deposit, epayables, master /subaccounts arrangements, etc.)
  • Develop, design and implement new programs such as MWBE Surety Bond program, DASNY LOC program and investment programs (including investment agreements and third party investment advisory agreements) that are responsive to ever-changing market conditions.
  • Develop and monitor performance measures and unit goals and objectives.  

Other Duties and Responsibilities

  • Train and evaluate employees.
  • Assess, develop and implement internal controls, and oversee the review and testing of same.
  • Undertake special assignments as directed.
  • Maintain regular, consistent attendance and punctuality in accordance with DASNY policy.
  • Must adhere to the NYS Information Security Policy Standards established and issued by the NYS Office of Information Technology Services.  (Standards can be found on the Intranet).


Supervision of employees is required. Details to be provided at time of posting notice.  

Physical/Mental/Visual Demands

Occasional travel is required using public transportation, DASNY vehicle, rental vehicle or personal vehicle.  This travel may include overnight stays at public accommodations and related establishments.  Requires complex and time-pressured decision-making. Must be able to work overtime or extended work hours as needed. 

Work Environment

Standard office environment, including the use of one or more of the following:  PC, telephone, fax machine, printer, copier, electronic stapler/hole punch/date stamp, shredder.

Minimum Qualifications

Bachelor's degree plus seven years relevant investment experience, including four years supervisory experience.

Preferred Qualifications

Bachelor's or Master's degree in Finance or other relevant field plus seven or more years experience in the management and oversight of investment activities.  Management experience.  Knowledge of investments, public finance and financial management systems, preferably JD Edwards and SunGard.

Essential Skills

  • Demonstrated ability to work independently and exercise sound judgment.
  • Excellent oral and written communications skills.
  • Demonstrated analytical and conceptual skills.
  • Excellent mathematical skills.
  • Demonstrated accuracy and attention to detail. 
  • Demonstrated organizational skills and ability to prioritize.
  • Comprehensive knowledge of management principles.
  • Demonstrated record of taking initiative.
  • Strong interpersonal skills.
  • Proficiency in PC applications such as Outlook, Excel, Access, Word and PowerPoint.
  • Advanced working knowledge of various fixed income investments and related financial markets.

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