Director of Stewardship
MassPRIM (Pension Reserves Investment Management Board), the $90 billion Massachusetts state pension fund, is looking to add a Director of Stewardship to help support the newly established Environmental, Social, and Governance (ESG) Committee and lead MassPRIM’s current and future stewardship activities.
The Director of Stewardship will be responsible for coordinating and managing MassPRIM’s stewardship activities and initiatives. In addition, this role will work collaboratively with staff, ESG Committee members, and Board and Committee members to develop appropriate standards, policies and processes related to numerous ESG-related activities. This role requires excellent verbal and written communication skills.
Director of Stewardship Responsibilities and Duties
The duties and responsibilities of this position, consistent with the ESG Committee Charter, include, but are not limited to, working with staff and the ESG Committee to:
- Recommend to the Board a statement of investment beliefs relating to ESG engagement, and a related ESG policy statement.
- Plan regular Board education on general and emerging ESG topics, as well as periodically consult with outside experts, including the Board’s investment consultant(s), regarding relevant research and diligence, legal and regulatory issues, and peer ESG practices.
- Recommend to the Board a system or process for prioritizing ESG initiatives and issues.
- Recommend to the Board the objectives, policies, structure, and strategies governing shareholder engagement related to ESG.
- Collaborate with other like-minded investors, advocacy groups, and other capital market participants to maximize the impact of the Board’s ESG initiatives.
- Receive briefings on ESG initiatives from staff and external partners annually and review the impact of ESG related policies on business operations and provide recommendations to the Board.
- Recommend and review any annual performance goals related to ESG.
- Review and recommend proxy voting policies and engagement or stewardship practices to the Board.
- Collaborate with other standing committees that advise the PRIM Board.
Director of Stewardship Qualifications
- Demonstrate an expertise in ESG issues.
- Experience developing ESG-related strategies, policies, and procedures for asset owners.
- Minimum of 5 or more years of experience working in investment management focusing on ESG matters.
- Bachelor’s degree required.
- CPA, CFA, MBA, or JD preferred.
- Experience managing ESG engagements and/or serving on peer group advisory committees focused on ESG related topics.
- Demonstrate the ability to problem-solve and collaborate across various teams with competing priorities.
The Pension Reserves Investment Management (PRIM) Board manages the assets ($90 billion) of the Pension Reserves Investment Trust Fund for public employee pension benefits on behalf of Massachusetts State Employees, Teachers, as well as participating retirement systems throughout the Commonwealth of Massachusetts. PRIM’s mission is to generate strong risk-adjusted investment returns that help the Commonwealth meet its pensions obligations and alleviate taxpayer burden. PRIM’s highly experienced, professional investment staff seeks to maximize the return on investment with an acceptable level of risk by broadly diversifying the investment portfolio, capitalizing on economies of scale to achieve cost-effective operations, and providing access to high-quality, innovative investment strategies.
It is the policy of Pension Reserves Management Board to afford equal employment opportunity to all qualified persons regardless of race, color, religious creed, national origin, ancestry, age, military status, sexual orientation, disability, genetic information, gender identity, gender expression or gender unless based upon a bona fide occupational qualification