Tentative Classification Standards issued by the Division of Classification & Compensation are shared with the operating agencies of State government for their consideration and comment. Accordingly, this document that you are viewing is subject to change and will be issued in final form at the completion of the review period.

TENTATIVE

 

                                                                                                                      Occ. Code 0265100

 

                                                                         

 

REAL ESTATE INVESTMENT ANALYST 1, GRADE 23

0265100

REAL ESTATE INVESTMENT ANALYST 2, GRADE 27

0265200

 

 

New York State Department of Civil Service

 

Classification Standard

 

BRIEF DESCRIPTION OF CLASS SERIES

 

             Real Estate Investment Analysts assist in the acquisition of real estate investments and the management of those assets, consistent with systems policy and guidelines. They monitor the performance of real estate investments and take corrective action on underperforming assets.

 

            These positions exist only at the New York State Teachers Retirement System (TRS).

 

DISTINGUISHING CHARACTERISTICS

 

            REAL ESTATE INVESTMENT ANALYST 1: assists in the acquisition and asset management of investment properties.

 

            REAL ESTATE INVESTMENT ANALYST 2: directs the underwriting, acquisition, and disposition of investments; reviews appraisals; and oversees the management and operations of investment properties. 

 

RELATED CLASSES

 

            Teachers Retirement System Investment Officers plan, monitor, and evaluate investments of TRS pension fund.  Incumbents analyze data pertaining to the investments of the fund, monitor investments and review the performance of investments in a broad range of classes, including domestic stocks and bonds, private equity, and real estate.

 

ILLUSTRATIVE DUTIES

 

            REAL ESTATE INVESTMENT ANALYST 1

 

Assists in the acquisition of investment properties as permitted by law and in accordance with policy guidelines established by the board and set forth in the real estate policy manual.

 

 

Assists in the review of TRS practices, operations, and procedures relating to investments.

 

 

Maintains relationships with officials and employees of TRS, real estate consultants, real estate advisory committee members, and individuals and organizations outside of TRS. 

 

 

            REAL ESTATE INVESMENT ANALYST 2

 

            In addition to the duties of a Real Estate Investment Analyst 1, a Real Estate Investment Analyst 2 performs the following duties:

 

·       Recommends changes in department practices, operations, and procedures.

·       Reviews lease and service contracts in conjunction with legal and arranges for their execution.

·       Oversees third party managers in implementing TRS real estate policy and monitors the performance of third party managers.

·       Coordinates the activities of third party asset managers, property managers, and TRS departments such as finance as they relate to all maintenance and repair items, including tenant improvements, service contracts, financial reporting, and analysis of investment properties.

·       Forms exit strategies, prepares informational packages, and selects and negotiates contracts with real estate brokers in connection with the sale of other real estate owned properties.

·       Submits mortgage modifications, defaults, and other real estate matters to the real estate advisory committee for their review and recommendation.

 

MINIMUM QUALIFICATIONS

 

            REAL ESTATE INVESTMENT ANALYST 1

 

Promotion:  one year of service as a Senior Accountant, Grade 18, or Teachers Retirement Investment Officer 1, Grade 18 at the New York State Teachers Retirement System.


            REAL ESTATE INVESTMENT ANALYST 2

 

Open Competitive:  bachelors degree, a masters in business administration*, and five years of commercial mortgage lending/mortgage administration experience. 

 

*Two years of additional qualifying experience may be substituted for the masters in business administration.

 

 

Date:  5/13

 

NOTE: Classification Standards illustrate the nature, extent and scope of duties and responsibilities of the classes they describe. Standards cannot and do not include all of the work that might be appropriately performed by a class. The minimum qualifications above are those which were required for appointment at the time the Classification Standard was written. Please contact the Division of Staffing Services for current information on minimum qualification requirements for appointment or examination.