It is inspiring to work in an organization where individuals are deeply committed to the mission and values that drive our success.
We are dedicated to delivering expert pension service to Illinois public educators as they earn their promised retirement security.
About TRS:
Founded in 1939 by the Illinois General Assembly, the Teachers’ Retirement System of the State of Illinois (TRS) is one of the largest pension systems in the United States. We provide retirement, disability and survivor benefits to teachers, administrators and other public-school personnel employed outside the city of Chicago. The System serves over 456,000 members and had assets of approximately $75.7 billion as of May 31, 2025. TRS is governed by a 15-member Board of Trustees.
Mission Statement:
Delivering expert pension service to Illinois public Educators as they earn their promised retirement security.
The Investments Team:
An investments career with TRS is an opportunity to help Illinois public educators achieve their promised retirement security. The Investments team at TRS serves a critical role within TRS’ mission, as the team collectively manages and monitors over $75.7 billion in retirement assets on behalf of the System as of May 31,2025. The team consists of over 38 professionals that are responsible for evaluating and selecting external investment managers for the investment portfolio. Investing in a variety of strategies spanning equity, fixed income, real assets, hedge funds, and private markets asset classes, the team’s investment process includes significant qualitative and quantitative diligence. Investment professionals meet with existing and prospective managers to evaluate manager returns, risk, and fit within the portfolio. Manager exposures, track record, and other data are thoroughly analyzed within multiple systems throughout the investment process.
Job Summary:
Under the direction of the Director of Risk & Investment Operations, the Senior Risk Analyst will measure and monitor risk in the TRS investment portfolio using various risk models and metrics and ensure the System’s investment strategy is aligned with established statutes, internal and board-approved policies and contracts. The position will also be responsible for implementing the investment compliance program.
This position requires a thorough knowledge of general investment principles, with particular emphasis on risk management processes and theory. The incumbent must possess a thorough knowledge of the structure and characteristics of various asset classes and economic risk models. The Senior Risk Analyst serves as an advisory specialist to assure compliance with the TRS mission and investment policy guidelines. The incumbent must be able to operate independently and must routinely exercise discretion in performance of the duties of the position.
The incumbent will utilize internal and external risk management tools to perform quantitative and qualitative assessment of the health of the TRS investment portfolio. In addition, the position will be responsible for the evaluation and oversight of investment department policies, asset class plans and structures, and investment manager guidelines, and will ensure processes are established to assess continuous compliance. The incumbent must possess strong quantitative and technical analysis skills and be proficient in the use of Microsoft Office and industry standard risk tools.
The incumbent must be able to work effectively with TRS staff, consultants, managers and the Board of Trustees. Superior written and oral communication skills are essential. In addition, the incumbent must exercise significant independent judgment when evaluating, reaching conclusions and reporting the risk level associated with investment strategies.

MINIMUM REQUIREMENTS:

• Bachelor’s degree in finance, economics, mathematics, statistics, or related field
• Minimum of five (5) years of investment experience
• Experience in statistical modeling, quantitative analysis, and reporting visualization tools
• Prefer advanced degree in a related field, Chartered Financial Analyst (CFA), or Financial Risk Manager (FRM) designation

• Responsible to establish, revise, implement and monitor the process that measures and evaluates the risk-adjusted performance of the TRS investment portfolio. Assess overall investment risk and report findings to the Director of Risk & Investment Operations and, as necessary, the Board of Trustees.
• Assist with developing and monitoring an integrated and comprehensive risk management framework that aggregates risk across all asset classes and strategies and performs stress testing and counterparty monitoring, as necessary.
• Monitor investment strategy and processes to ensure alignment with applicable statutes, investment policies and vendor contracts, including consultant contracts and investment manager agreements.
• Identify risk in specific asset classes, strategies and implementation methods to ensure they do not exceed investment policy guidelines.
• Participate in internal investment and risk operating committee meetings and communicate risk-related concerns to the Director of Risk & Investment Operations and investment staff, as appropriate.
• Prepare risk-related reports for staff and internal investment and risk operating committees. Review statistical and narrative compliance reports prepared by staff for internal staff and the TRS Board of Trustees. Assist in the preparation of applicable risk report materials for Board meetings.
• Engage staff and consultants by questioning proposals and strategies to enhance the investment portfolios, paying close attention to risk mitigation and hedging recommendations.
• Participate in the development of investment program strategic planning initiatives, asset allocation reviews and asset class strategy.
• Maintain and ensure accuracy and consistency of the Blackrock risk system by reviewing and analyzing reports. Utilize other industry standard risk tools.
• Maintain awareness of current and potential legislation affecting the Investment Department. Provide education to staff and trustees in support of developing a risk-aware culture at TRS.
• Provide information and documentation to internal audit, when requested, and analyze the results of investment-related audits.
• Develop, update and monitor investment department policies when needed.
• Assist with special projects.
• Perform other duties as assigned.