The United Nations Secretariat has announced a call for applications for the prestigious position of Representative of the Secretary-General for the investment of the assets of the United Nations Joint Staff Pension Fund (UNJSPF). This high-level role, at the Assistant Secretary-General level, is based at UN Headquarters in New York and is central to the financial security of over 200,000 current and former UN staff and their families worldwide. The UN is especially encouraging applications from women candidates, in line with its commitment to gender parity and inclusive leadership.
The United Nations Joint Staff Pension Fund: A Pillar of Security
Purpose and Importance
Established in 1949 by the UN General Assembly, the UNJSPF is a defined benefit pension fund designed to provide retirement, death, disability, and related benefits to staff of the United Nations and 24 other member organizations. For many international civil servants, the Fund is the sole source of post-retirement income, making it a cornerstone of the UN employment package and a critical tool for attracting and retaining global talent
Size and Reach
As of the end of 2024, the UNJSPF managed approximately $95.78 billion in assets, serving over 150,000 participants and nearly 90,000 beneficiaries in 190 countries. The Fund pays out more than $3.8 billion in benefits annually and receives a similar amount in contributions, reflecting its scale and global impact
Investment Performance and Sustainability
The Fund’s investment portfolio is globally diversified, with allocations across public equities (44.3%), fixed income (38.2%), real estate, private equity, and cash. The Fund has consistently outperformed its long-term real rate of return objective (3.5% per year over 15 years), with a 5-year net total return of 7.9% as of 2024. Its funding ratio stands at a robust 111%, indicating strong long-term sustainability .
The Role: Representative of the Secretary-General for UNJSPF Investments
Historical Context and Significance
The management of the UNJSPF’s assets is a fiduciary responsibility of the UN Secretary-General, as established in Article 19(a) of the Fund’s Regulations. Over time, the growing complexity and size of the Fund led to the creation of a dedicated, full-time Representative of the Secretary-General (RSG) for investments at the Assistant Secretary-General level (General Assembly resolution A/RES/68/247 B)
.The RSG acts as the Secretary-General’s delegate, exercising discretionary authority over the Fund’s investments, and is responsible for the overall investment policy, strategy, and risk management. This role is pivotal in ensuring the Fund’s solvency, sustainability, and alignment with the highest standards of fiduciary responsibility
Key Responsibilities
The RSG reports directly to the Secretary-General and works in close consultation with the Investments Committee and the Pension Board. The main responsibilities include:
- Strategic Leadership: Defining and overseeing the Fund’s investment policy, strategic and tactical asset allocation, and main investment strategies for a globally diversified portfolio.
- Operational Oversight: Leading the Office of Investment Management (OIM), ensuring all investment operations—from portfolio management to back-office functions—are coordinated and aligned with the Fund’s objectives
- Risk and Compliance: Establishing and maintaining robust internal controls and risk management systems to safeguard the Fund’s assets.
- Governance and Accountability: Liaising with intergovernmental and oversight bodies, including the Pension Board, Advisory Committee on Administrative and Budgetary Questions, General Assembly, Board of Auditors, and Office of Internal Oversight Services.
- Collaboration: Working closely with the Chief Executive of Pension Administration to ensure optimal asset/liability management.
- Reporting: Providing regular updates on investment performance, policy, and compliance, and responding to queries from governing and oversight bodies
The RSG is appointed for a term of up to five years, with the possibility of reappointment for a maximum of ten years.
The Office of Investment Management (OIM): Professional Stewardship
The OIM is the operational arm responsible for managing the Fund’s assets. It employs a disciplined investment process, combining top-down macroeconomic analysis with bottom-up security selection, and manages a diversified portfolio across public equities, fixed income, private markets, and real assets. The OIM leverages advanced data analytics, technology, and transparent reporting to ensure the Fund’s long-term financial health
Qualifications and Competencies
The UN is seeking an individual with:
- Education: Advanced university degree (master’s or equivalent) in business management, economics, finance, banking, or portfolio investment management.
- Experience: Over 20 years of progressively responsible experience in managing economic, social security, or financial policies and activities for governmental, intergovernmental, or substantial private organizations. This includes a proven track record in managing complex, diversified investment portfolios, particularly pension funds, and in financial markets.
- Technical Expertise: Direct knowledge of investment policy, strategic asset allocation, risk management, and the ability to oversee research on economic and financial market trends.
- Leadership: Demonstrated ability to lead interdisciplinary and internationally diverse teams, with a commitment to gender balance and inclusion.
- Professionalism and Integrity: Impeccable personal and professional integrity, adherence to the highest standards of conduct, and a strong commitment to the values and guiding principles of the United Nations.
- Communication: Excellent oral and written communication and negotiation skills, with the ability to explain complex issues to senior officials and governing bodies.
- Languages: Fluency in English is required; knowledge of another official UN language is desirable.
UN Values and Leadership Framework
The RSG is expected to serve as a role model for the United Nations Values—Inclusion, Integrity, Humility, and Humanity—and to embody the behaviors outlined in the UN System Leadership Framework: Connect and Collaborate, Analyse and Plan, Deliver Results with Positive Impact, Learn and Develop, and Adapt and Innovate
. These frameworks emphasize ethical, inclusive, and transformational leadership, and are central to the culture and operational effectiveness of the UN, especially in high-stakes roles such as this
Screening and Ethical Standards
All applicants will undergo rigorous assessment, including reference and background checks, human rights screening, and conflicts of interest screening. Senior leaders are expected to uphold the highest standards of efficiency, competence, and integrity, and to proactively disclose any real or perceived conflicts of interest
Global Context: Best Practices and Comparisons
The RSG role is comparable to high-level financial positions in other major international organizations, such as the Chief Investment Officer at the World Bank or the Director of Investment Management at the IMF. These roles require stewardship of large, globally diversified portfolios, strategic asset allocation, risk management, and alignment with the organization’s mission and governance
.Best practices in global pension fund management emphasize strong governance, diversification, transparency, and continuous improvement—principles that are embedded in the UNJSPF’s operations and the expectations for its leadership
Application Process
Applications must be submitted through the Senior Leadership Vacancies online form at https://www.un.org/sg/en/vacancies/index.shtml by Monday, 17 November 2025 (midnight New York time). All applications will be treated with the strictest confidence.
For more information on the UNJSPF, visit http://www.unjspf.org/.
Conclusion
The position of Representative of the Secretary-General for the investment of the assets of the UNJSPF is one of the most significant financial stewardship roles in the international public sector. It offers a unique opportunity to shape the future of a globally important pension fund, safeguard the retirement security of thousands of UN staff and their families, and contribute to the financial integrity and reputation of the United Nations system. The UN welcomes applications from highly qualified, values-driven leaders ready to take on this vital responsibility.
