Working Title: Investment Analyst/Officer, Cash Management
Job Class: Investment Analyst, Senior or Investment Officer
Agency: Minnesota State Board of Investment (SBI)
Job ID : 91930
Location : St. Paul
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.
Full/Part Time : Full-Time
Regular/Temporary : Unlimited
Who May Apply : Open to all qualified job seekers
Date Posted : 02/04/2026
Closing Date : 02/20/2026
Hiring Agency/Seniority Unit : Investment Board / Investment Board-Managerial
Division/Unit : State Board Of Investment(SBI) / Public Markets
Work Shift/Work Hours : Day Shift
Days of Work : Monday - Friday
Travel Required : Minimal, up to 5%
Salary Range:
Investment Analyst, Senior: $139, 771 to $188,400 annually
Investment Officer: $162,843 to $230,808 annually
Classified Status : Unclassified
Bargaining Unit/Union : 220 - Manager/Unrep
FLSA Status : Exempt - Executive
Designated in Connect 700 Program for Applicants with Disabilities (https://mn.gov/mmb/careers/diverse-workforce/people-with-disabilities/connect700/) : No
The work you'll do is more than just a job.
At the State of Minnesota, employees play a critical role in developing policies, providing essential services, and working to improve the well-being and quality of life for all Minnesotans. The State of Minnesota is committed to equity and inclusion, and invests in employees by providing benefits, support resources, and training and development opportunities.
The Investment Analyst/Officer will work as part of the Minnesota State Board of Investment's (SBI) Internal Cash Desk. The Internal Cash Desk is responsible for conducting day-to-day trading of fixed income securities, formulating portfolio management in accordance with return and risk objectives, and executing the strategy across the Invested Treasurer's Cash (ITC) Pool, Debt Service and other accounts. As a member of the investment team, this position will conduct fixed income credit research in support of the Desk's approved issuer list, prepare and present written reports to the SBI cash team and senior management, and contribute to portfolio risk management and process improvement efforts. The Analyst/Officer will work closely with portfolio managers to learn all aspects of the portfolio management process to develop the knowledge to trade and manage the ITC portfolio in a back-up capacity, with the goal of assuming greater ongoing primary portfolio management responsibility over time.
Primary Responsibility:
Research and evaluate assigned credit issuers according to SBI's credit review schedule, maintain SBI's 'Approved Issuers List', optimize SBI's use of rating agency information, and prepare in-depth research reports for presentation to the team and senior management.
Integrate data in reports by using technology from other vendors (Bloomberg, rating agencies, broker/dealer websites, etc.) into research reports and portfolio reports to improve data flow and support consistent data updates and refresh of credit research reports.
Using technology, assist in developing and supporting SBI's internal cash team analytical efforts related to macroeconomic data, portfolio metrics, trading calculations, and Asset Liability Management (ALM) via dashboard or another end user interface.
Actively participate in the Internal Cash Desk's portfolio strategy meetings, develop knowledge around the process of formulating overall near-term and longer-term investment strategy and risk management parameters, given near-term cash flow needs and projections, and relative value considerations in each market environment.
Shadow/train on day-to-day Internal Cash portfolio strategy through trading of securities via approved broker/dealer counterparties, Bloomberg trading interfaces or other electronic trading systems.
Contribute to SBI's market knowledge, investor presence and reputation among the fixed income investor community/street and peer organizations by representing SBI at trade shows, industry conferences and events, both in person and remotely.
Support SBI's middle office via operational workflow related to order management, repo trading/collateral management, trade entry and trade settlement/clearing.
Minimum Qualifications:
Education: Bachelor's degree in a finance-related or analytical discipline (e.g. Finance, Economics, Accounting, Business, Mathematics, Statistics, Engineering, or Computer Science)
Experience: 2-5 years of relevant experience within an investment management environment (e.g. trading, security analysis, economic analysis, and/or portfolio management support).
Investment Knowledge: Core understanding of financial markets, including basics of fundamental analysis with a natural curiosity to expand understanding.
Core technical skills: Intermediate-to-advanced proficiency in Excel; comfort working with Microsoft Word and PowerPoint, or similar productivity tools.
Development: Willing participation in and desire to make continuous progress toward completion of the Chartered Financial Analyst (CFA) program.
Communication: Excellent organizational skills, with the ability to manage and prioritize multiple tasks and deadlines in a structured manner.
Attention to detail: Demonstrated ability to maintain high degree of accuracy in work product.
Ability to work well under deadlines and under pressure: Demonstrated ability to thrive under tight deadlines and excel in a fast-paced trading and portfolio management environment.
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 will not sponsor applicants for work visas. All applicants must be legally authorized to work in the US.
AN EQUAL OPPORTUNITY EMPLOYER
Minnesota State Colleges and Universities is an Equal Opportunity employer/educator committed to the principles of diversity. We prohibit discrimination against qualified individuals based on their race, sex, color, creed, religion, age, national origin, disability, protected veteran status, marital status, status with regard to public assistance, sexual orientation, gender identity, gender expression, or membership in a local commission as defined by law. As an affirmative action employer, we actively seek and encourage applications from women, minorities, persons with disabilities, and individuals with protected veteran status.
Reasonable accommodations will be made to all qualified applicants with disabilities. If you are an individual with a disability who needs assistance or cannot access the online job application system, please contact the job information line at 651-259-3637 or email careers@state.mn.us . Please indicate what assistance is needed.
