Description

About the SBI:

The Minnesota State Board of Investment (SBI), established by Article XI of the Minnesota Constitution, is responsible for investing all state funds. Its membership, as specified in the Constitution, consists of the Governor (who serves as chair), the State Auditor, the Secretary of State, and the Attorney General. 

The SBI manages over $170 billion across the State’s retirement funds, cash accounts, and other pools and trusts. These assets are invested across multiple strategies, including public and private equity, fixed income, real assets, and private credit. The SBI invests primarily through external managers, with the goal of generating attractive long-term returns without taking undue risk.

About the Opportunity:

Classification: Investment Analyst, Intermediate or Investment Analyst, Senior

Travel Required: up to 5%

Salary Range(s): 
Investment Analyst, Intermediate: $106,592 – $137,370 annually* 

Investment Analyst, Senior:  $143,821 – $193,871 annually*

Telework Eligible: SBI currently utilizes a hybrid model, with weekly anchor days required. This is subject to change at the discretion of the SBI Executive Director.

The SBI is conducting a search for a detail-oriented and mission-driven Investment Analyst, Performance Analytics, to support its Investment Performance function. This position offers a strong opportunity for an investment professional with experience or interest in investment performance calculation and reporting to contribute to a leading public pension fund.

Reporting to the Head of Performance Analytics, this position is responsible for leading the generation of internal and external performance reporting, calculation, and monitoring, as well as daily validation and reconciliation of performance records. The successful candidate will work closely with investment staff and external service providers to maintain the integrity of performance measurement, risk management, and reporting.

The position requires familiarity with institutional investment concepts and the ability to work with information related to portfolio strategy, asset allocation, investment performance, benchmarks, and composite construction. The successful candidate will ensure that the SBI’s performance is consistently and accurately communicated to all stakeholders and constituents.

Primary Responsibilities:

• Calculate and report portfolio and composite performance across the many line items and asset classes in SBI’s investment program, including results at the total-plan level
• Generate internal and external reporting to support SBI staff, including daily performance monitoring, quarterly board books, annual reports, and attribution and risk analysis
• Maintain data quality, consistency, and accuracy across custodial, accounting, and internal platforms for performance measurement and reporting purposes
• Contribute to ongoing and ad hoc projects such as asset allocation studies, system and/or process enhancements, and performance measurement and reporting enhancements

Why Work for Us: 

The State of Minnesota also has over 100 state agencies, so the possibilities of serving our great state through a multitude of programs and roles are endless! The State of Minnesota also has our own Enterprise Talent Development department to keep your skills and knowledge sharp. You may also qualify forPublic Service Loan Forgiveness, which forgives the remaining balance of your student loans after 120 qualifying monthly payments!  

What’s also great about this job is the competitive wage and comprehensive benefits package including low cost/high value medical and dental insurance, employer paid life insurance, retirement plan, health care savings plan, generous vacation and sick leave, paid holidays, and numerous tax-deferred benefit options (e.g., 457B investment plan, long and short-term disability plans, etc.). Benefits offered are:  

      Medical and dental insurance 

      Life insurance 

      11 paid holidays per year 

      Parental leave 

      Pension and retirement saving plan 

      Vacation and Sick leave  

      Long and short term disability insurance 

* The State of Minnesota offers an excellent and comprehensive benefits package. Listed salary ranges reflect total cash compensation. Note that positions are not eligible for incentive compensation. 

HOW TO APPLY: 

https://www.msbi.us/employment-opportunities#open

Posting Closes: 10/23/2026

As part of the application process, please include a cover letter and specifically address the following questions:

•       Why do you want to work for the SBI, and what interests you about public pension investment management?
•       What interests you most about investment performance measurement and why?

Requirements

Minimum Qualifications

Candidates must meet all of the following minimum qualifications to be considered for this position:

Education: 

Bachelor's degree

Experience: 

• At least three (3) years of professional experience at a financial services firm or in a comparable role
• Working knowledge of institutional investment concepts, including asset allocation, investment performance, portfolio benchmarks, investment vehicles, and the objectives of major asset classes
• Proficiency in Microsoft Excel and other Microsoft Office applications
• Demonstrated attention to detail, strong organizational skills, and the ability to prioritize multiple tasks, projects, and deadlines
• Experience communicating effectively with professionals across functions and at different organizational levels
• Willing participation in and desire to make continuous progress toward completion of the Chartered Financial Analyst (CFA) program

Preferred Qualifications 

Experience:

• 5+ years of professional experience at a financial services firm, or equivalent 
• Experience in investment performance measurement, reporting and analysis, or related field
• Experience working with an asset allocator such as a public or corporate plan sponsor, endowment, or foundation
• Advanced Excel skills (Macros/PivotTables/Advanced formulas) and/or experience with Power BI, Tableau, or other business intelligence tools
• Advanced analytical, technical, and problem solving skills applicable to process enhancements, operational optimization, and data management
• Completion or progress toward the Chartered Financial Analyst (CFA) program and/or the Certificate of Investment Performance Measurement (CIPM) program

Additional Requirements: 

It is the policy of the State Board of Investment that all employees submit to a background investigation prior to employment. The background check may consist of the following components: 

•       SEMA4 Records Check (applies to current and past State employees only) 
•       Criminal History Check 
•       Employment Reference Check 
•       Social Security and Address Verification 
•       Education Verification
•       Driver's License Check

The State Board of Investment does not sponsor applicants for work visas. All applicants must be legally authorized to work in the US.