IMD Student Intern - Public Markets

WHO WE ARE:

With the Investment Management Division (IMD) you will be joining a diverse group of achievers who celebrate the unique value individuals bring to support our shared cause: earning trust and contributing to the financial future of 1.9 million public education employees and retirees throughout Texas.

Navigating the current market environment takes innovation and we’re passionate about stewarding the right investments to make an impact both in the lives of our members and all Texans. We invite you to partner with the best financial minds in the business to manage a global portfolio of over $200 billion in public and private investments. Our success starts with you.

IMD Student Intern – Public Markets

The IMD Student Intern – Public Markets performs entry level investment research and analysis work. The incumbent will assist investment staff with investment related research and analysis and perform special projects, with a primary focus on gaining practical work experience for personal development or to satisfy educational requirements. This position will proactively work with the Public Markets team and IMD staff.

Note: This position is a paid, full-time, limited term assignment that offers interns the opportunity to gain substantive hands-on experience. Interns enjoy the opportunity to get training and mentoring from experienced professionals in one or more areas.

The Intern position is scheduled for 10 weeks from June to August 2025. We require that all IMD interns live in Austin, Texas for the duration of their internship.

Salary will be dependent upon education level:

Undergraduate Student (Senior) - $36.75/hour
5 Year Master’s Student - $42/hour

WHAT YOU WILL DO:

Research and Analysis
• Assists in performing fundamental and statistical investment analysis for potential investment opportunities, including investment computations (i.e., returns, valuation multiples, correlations, volatility analysis, attribution analysis, etc.), using any reliable printed or electronic media, and contact with external managers.
• Assists investment managers in conducting quantitative investment research.
• Assists in conducting investment research on various companies, industries, or countries.
• Assists investment managers in performing due diligence research and analysis for potential investment opportunities.

Projects and Communication
• Conducts projects with support from Public Markets team in the following areas: internal global equity portfolios, both quantitative and discretionary fundamental; external manager global equity and hedge fund portfolios; credit and special situation portfolios.
• Participates in group projects as assigned.
• Consults or coordinates with investment managers, analysts, investment accounting, legal counsel, custodian, and third-party advisors and consultants.
• Provides timely written or oral reports of analysis and recommendations to investments staff and management.
• Ensures that the agency Ethics Policy is adhered to in relationships with general partners, external managers, brokers, research suppliers, and other vendors.
• Performs related work as assigned

WHAT YOU WILL BRING:

Required Education
 
Must meet one of the following criteria:
• Currently enrolled in and actively attending an accredited college or university as an undergraduate student with a declared  major in business administration, finance, accounting, operations research, math, information technology, liberal arts or a related area. Must complete their junior year (90 hours) by the start of the internship. This includes candidates considering a 5-year master's program; OR 
• Currently enrolled in and actively attending a graduate program in finance, accounting, business administration, or closely related area.
• GPA at or above 3.25.
• Applicant will be required to submit a copy of official college transcripts.

Experience:
• None.

 Registration, Certification, or Licensure:

• None.

Preferred Qualifications

• Experience or education in institutional investment research, accounting, financial analysis, statistical analysis or a related field.
• Familiarity with basic coding in Python or similar language.


Knowledge, Skills, and Abilities 

Knowledge of:
• Investment concepts, terminology, styles, models, strategies, and fundamental investment factors.
• Statistical concepts, methods, and models, and their application to investments.

Skill in:

• Using a computer in a Windows environment with word processing, spreadsheet, presentation, database, and other business software to prepare correspondence, spreadsheets, charts, and reports.

• Conducting data searches and evaluations of large amounts of information, performing complex statistical analysis of the data, and preparing concise and accurate reports and written/oral recommendations.

• Planning, organizing, and prioritizing work assignments to manage a high-volume workload in a fast-paced and changing environment, and in completing detailed work with a high degree of accuracy.

• Verbal and written communication of complex information that is accurate, timely, and based on sound judgment 

 Ability to:

• Establish and maintain harmonious working relationships with co-workers, agency staff, and external contacts.

• Work effectively in a professional team environment.