Investment Analyst/Officer, Cash Management
Agency: Minnesota State Board of Investment (SBI)
Title: Investment Analyst/Officer, Cash Management
Classification: Investment Analyst, Senior or Investment Officer
Travel Required: Minimal, up to 5%
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.
Salary Range(s):
Investment Analyst, Senior: $139,771 to $188,400 annually*
Investment Officer: $162,843 to $230,808 annually*
ā¢ The State of Minnesota offers an excellent and comprehensive benefits package. Listed salary ranges reflect total cash compensation. Note that positions are not eligible for incentive compensation.
About the SBI:
The Minnesota State Board of Investment (SBI), established by Article XI of the Minnesota Constitution, is responsible for investing all state funds. Its membership, as specified in the Constitution, consists of the Governor (who serves as chair), the State Auditor, the Secretary of State, and the Attorney General.
The SBI manages over $160 billion across the Stateās retirement funds, cash accounts, and other pools and trusts. These assets are invested across multiple strategies, including public and private equity, fixed income, real assets, and private credit. The SBI Cash Management team invests to preserve capital, maintain a high degree of liquidity, and maintain a level of current income appropriate to the level of risk in the portfolio.
About the Opportunity:
The Investment Analyst/Officer will work as part of the Minnesota State Board of Investmentās (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 Treasurerās 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 Deskās 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 Responsibilities
Research and evaluate assigned credit issuers according to SBIās credit review schedule, maintain SBIās āApproved Issuers Listā, optimize SBIās 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 SBIās 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 Deskās 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 SBIās 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 SBIās middle office via operational workflow related to order management, repo trading/collateral management, trade entry and trade settlement/clearing.
Why Work for Us:
The State of Minnesota also has over 100 state agencies, so the possibilities of serving our great state through a multitude of programs and roles are endless! The State of Minnesota also has our own Enterprise Talent Development department to keep your skills and knowledge sharp. You may also qualify for Public Service Loan Forgiveness, which forgives the remaining balance of your student loans after 120 qualifying monthly payments!
Whatās also great about this job is the competitive wage and comprehensive benefits package including low cost/high value medical and dental insurance, employer paid life insurance, retirement plan, health care savings plan, generous vacation and sick leave, paid holidays, and numerous tax-deferred benefit options (e.g., 457B investment plan, long and short-term disability plans, etc.). Benefits offered are:
Medical and dental insurance
Life insurance
11 paid holidays per year
Parental leave
Pension and retirement saving plan
Vacation and Sick leave
Long and short term disability insurance
HOW TO APPLY:
https://msbi.us/employment-opportunities#open
Posting Closes: 2/20/2026
As part of the application process, please include a cover letter detailing your interest in the position.
Apply Now
Apply Now
Title: Investment Analyst/Officer, Cash Management
Classification: Investment Analyst, Senior or Investment Officer
Travel Required: Minimal, up to 5%
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.
Salary Range(s):
Investment Analyst, Senior: $139,771 to $188,400 annually*
Investment Officer: $162,843 to $230,808 annually*
ā¢ The State of Minnesota offers an excellent and comprehensive benefits package. Listed salary ranges reflect total cash compensation. Note that positions are not eligible for incentive compensation.
About the SBI:
The Minnesota State Board of Investment (SBI), established by Article XI of the Minnesota Constitution, is responsible for investing all state funds. Its membership, as specified in the Constitution, consists of the Governor (who serves as chair), the State Auditor, the Secretary of State, and the Attorney General.
The SBI manages over $160 billion across the Stateās retirement funds, cash accounts, and other pools and trusts. These assets are invested across multiple strategies, including public and private equity, fixed income, real assets, and private credit. The SBI Cash Management team invests to preserve capital, maintain a high degree of liquidity, and maintain a level of current income appropriate to the level of risk in the portfolio.
About the Opportunity:
The Investment Analyst/Officer will work as part of the Minnesota State Board of Investmentās (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 Treasurerās 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 Deskās 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 Responsibilities
Research and evaluate assigned credit issuers according to SBIās credit review schedule, maintain SBIās āApproved Issuers Listā, optimize SBIās 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 SBIās 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 Deskās 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 SBIās 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 SBIās middle office via operational workflow related to order management, repo trading/collateral management, trade entry and trade settlement/clearing.
Why Work for Us:
The State of Minnesota also has over 100 state agencies, so the possibilities of serving our great state through a multitude of programs and roles are endless! The State of Minnesota also has our own Enterprise Talent Development department to keep your skills and knowledge sharp. You may also qualify for Public Service Loan Forgiveness, which forgives the remaining balance of your student loans after 120 qualifying monthly payments!
Whatās also great about this job is the competitive wage and comprehensive benefits package including low cost/high value medical and dental insurance, employer paid life insurance, retirement plan, health care savings plan, generous vacation and sick leave, paid holidays, and numerous tax-deferred benefit options (e.g., 457B investment plan, long and short-term disability plans, etc.). Benefits offered are:
Medical and dental insurance
Life insurance
11 paid holidays per year
Parental leave
Pension and retirement saving plan
Vacation and Sick leave
Long and short term disability insurance
HOW TO APPLY:
https://msbi.us/employment-opportunities#open
Posting Closes: 2/20/2026
As part of the application process, please include a cover letter detailing your interest in the position.
Apply Now
Apply Now