Telework Eligible: Yes

Division/Unit: State Board Of Investment (SBI) / Legal

Education Verification

Working Title: Investment Analyst Sr/Investment Officer, Legal and Policy Services Job Class: Investment Analyst Sr/Investment Officer Agency: Investment Board

Job ID: 97863

Location: St. Paul

Telework Eligible: Yes

Full/Part Time: Full-Time

Regular/Temporary: Unlimited

Who May Apply: Open to all qualified job seekers

Date Posted: 10/23/2026

Closing Date: 11/12/2026

Hiring Agency/Seniority Unit: Investment Board / Investment Board-Managerial

Division/Unit: State Board Of Investment (SBI) / Legal

Work Shift/Work Hours: Day Shift

Days of Work: Monday - Friday

Travel Required: 10%

Investment Officer Salary Range: $80.25 - $113.75 / hourly; $167,562 - $237,510 / annually

Investment Analyst Senior Salary Range: $68.88 - $92.85 / hourly; $143,821 - $193,870 / annually

Listed salary ranges reflect total cash compensation. Note that the SBI compensation structure features a fixed, cash-based model that does not include incentive compensation.

Classified Status: Unclassified

Bargaining Unit/Union: 220 - Manager/Unrepresented

FLSA Status: Exempt - Skilled

Designated in Connect 700 Program for Applicants with Disabilities: No

The work you'll do is more than just a job.

At the State of Minnesota, employees play a critical role in developing policies, providing essential services, and working to improve the well‑being and quality of life for all Minnesotans. The State of Minnesota is committed to equity and inclusion, and invests in employees by providing benefits, support resources, and training and development opportunities.





The SBI is conducting a search for an experienced and mission‑driven Investment Analyst Senior or Investment Officer to support its Legal and Policy Services Division.

This position reports to the General Counsel and delivers legal advice, analysis, and support on a wide range of investment matters such as reviewing and negotiating investment agreements, guiding investment manager compliance, and analyzing certain elements of investment risk. This position will also provide legal support for assigned proxy voting matters, shareholder engagement initiatives, and legislative matters.

Primary Responsibilities

Private Markets Investment Management: The Investment Analyst/Officer will support private markets staff by conducting investment diligence, assessing governance and risk issues, and providing recommendations to relevant deal team members. Responsibilities include reviewing and negotiating relevant transaction documents; evaluating the legal elements of investment risks; participating in diligence to address governance, risk, and opportunities, and engaging with managers throughout the life of each fund.

Public Markets Investment Management: The Investment Analyst/Officer will work closely with public markets managers on investment strategy, contractual terms, and ongoing diligence, providing informed recommendations to relevant team members.



The role includes drafting investment management agreements that address key risks and opportunities, monitoring compliance with SBI’s public markets policies and guidelines, and supporting the drafting, monitoring, and development of SBI investment policy at the direction of the Executive Director/CIO.

Proxy Voting Advisement: The Investment Analyst/Officer will be required to review proxy voting adviser reports and help develop summaries of the investment implications of proxy votes. The role will stay current on governance issues affecting SBI-managed assets.

General Legal Matters: The Investment Analyst/Officer will provide general legal guidance to SBI staff and review a wide range of investment documents and negotiating terms with minimal supervision. The role includes reviewing vendor agreements for compliance with Minnesota and other applicable laws, ensuring the legal sufficiency of agency forms and publications, and advising on administrative policies and procedures to meet federal and state requirements. The Investment Analyst/Officer will assist with obtaining necessary approvals from the Attorney General’s Office and other state agencies, monitor securities and class‑action litigation as assigned, and advise on data practices requirements, public disclosure of investment materials, and related policies and procedures.

Legislative Matters: The Investment Analyst/Officer will assist in developing proposed legislation to advance SBI policy and meet agency needs under the direction of the General Counsel and will help secure passage of SBI legislation by arranging and attending meetings with legislators as requested by the Executive Director and Chief I

📌 Investment Analyst Sr/Investment Officer, Legal and Policy Services (St Paul)
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📍 St Paul