Investment Manager

This position is a flexible/hybrid position classified as Primary in Office with the expectation of being in office three days a week. 
Posting:  Open until filled with first application review taking place October 19, 2026. 

The Investment Manager performs specialized financial management and investment functions in support of the League of Minnesota Cities and the League of Minnesota Cities Insurance Trust (LMCIT). This position is responsible for overseeing investment activities, ensuring compliance with applicable policies and standards, and supporting financial reporting and analysis related to investment portfolios. The role also provides advanced financial analysis and modeling in support of LMCIT’s surplus and reserve management, including evaluation of adequacy, long-term sustainability, and strategic capital considerations. The role requires independent judgment, technical expertise in governmental and insurance-related investment practices, and the ability to manage multiple priorities under tight deadlines.Investments

• Invests League and LMCIT funds in accordance with established investment policies and state statute, and monitors short- and long-term performance against benchmarks
• Oversees financial reporting of League and LMCIT investment activities, including review of documentation from third-party investment managers
• Monitors developments in governmental and insurance accounting standards, including GASB pronouncements, and assesses implications for investment reporting
• Proposes updates to financial policies and procedures related to investment activities and internal controls
• Collaborates with internal and external stakeholders to identify and implement best practices in investment management and insurance financial reporting

Audit

• Supports the preparation of annual and intra-year investment-related reports and audit documentation
• Conducts complex financial analysis related to investment performance, asset allocation, and cash flow forecasting
• Maintains documentation and records to support compliance with audit standards and regulatory filings

4M Fund

• Serve as staff representative to the 4M Advisory Committee, recruits committee members, regularly report on Fund highlights and performance, organize regular meetings of the committee, report to the 4M Board of Trustees as needed.
• Provide oversight of the 4M Fund through regular communication with the Fund Administrator.
• Coordinate periodic external review of 4M Fund investment advisor, administrator, and banking partner/custodian; address findings; and implement recommended improvements.
• Participate in annual goal setting with the fund administrator; develop annual member survey; and recommend follow up actions. 

Insurance Pool Financial Analysis

• Provides financial analysis and recommendations to the CFO and LMCIT leadership regarding surplus targets, dividend considerations, and reserve strategies, incorporating actuarial input and organizational risk tolerance.
• Oversee and collaborates with external investment advisors to ensure their strategies, reporting, and portfolio decisions align with LMCIT’s investment policy, risk parameters, and long-term performance objectives.
• Works with external investment advisors to ensure alignment between investment strategy and surplus management goals.

Other

• Prepares and updates various financial (internal and external) policies as necessary or as assigned by the CFO.
• Works on special projects related to high level financial issues related to Board communications and financial planning for the League and Trust.
• Works with IGR staff in drafting recommended legislative positions and/or testifying at the legislature on bills that could have an impact on member’s finances.
• Provides technical guidance and customer service to internal departments on investment-related financial matters.
• Performs other duties as assigned.

• Bachelor’s degree in accounting, finance, public administration, or related field or equivalent experience.
• Five years of experience in investment management, governmental finance, or insurance-related financial reporting.
• Knowledge of governmental accounting standards and insurance financial reporting practices.
• Strong understanding of investment principles, portfolio management, and performance benchmarking.
• Ability to interpret and apply financial policies, regulations, and internal controls.
• Experience working with third-party investment managers and institutional portfolios preferred.
• Strong analytical, organizational, and communications skills.
• Ability to work independently and manage multiple projects with competing deadlines.

Desirable Qualifications

• Advanced degree or professional certification (e.g., CFA, CPA).
• Public sector experience.
• Familiarity with insurance pools and insurance investments.
• Understanding of insurance pool financial structures, including surplus management and reserve adequacy.

• Contributes to a teamwork environment, sharing information and assisting others as appropriate.
• Strives for excellent customer service to all external and internal customers by providing quick and accurate responses and maintaining a helpful, friendly and positive demeanor.
• Demonstrates ability to communicate professionally and effectively, verbally and in writing, and can effectively present on investment topics to stakeholders with a limited understanding of investing.
• Demonstrates ability to use computer software efficiently.
• Demonstrates knowledge of state statutes relating to governmental entities, as well as knowledge of fund/governmental accounting, finance, GASB, and business practices.
• Works independently, prioritizes, and provides timely follow-through on multiple ongoing projects effectively.  
• Demonstrates ability to develop and maintain positive and effective working relationships with League staff, member cities, both Boards and the public.
• Uses good judgment in decision making.
• Demonstrates the ability to interpret and apply policies and procedures and identify and analyze problems and alternative solutions.
• Maintains the highest level of confidentiality in dealing with information of a sensitive, private or confidential nature. Operates within guidelines provided by CFO.
• Meets or exceeds League Empowerment and Performance Program (LEAPP) results/timelines and other department performance measures.
• Promotes diversity and inclusion objectives, including race equity objectives, defined by the League and continually examines own performance to eliminate implicit bias in carrying out duties and interacting with the public, coworkers, and members.