Job Description
The Fonds de Réserve pour les Retraites (FRR) is a public administrative establishment created in 2001. Its mission is to invest on behalf of the community the sums entrusted to it by the public authorities to help finance pensions.
Its investment policy aims to optimise the return on investments made under the best possible security conditions. It must be consistent with respect for a number of collective values conducive to balanced economic, social and environmental development.
For the management of its assets, the FRR uses investment service providers, who provide portfolio management services on behalf of third parties and gradually invest the FRR’s reserves according to a determined strategic allocation, depending on market conditions.
The FRR had EUR 21.5 billion in assets under management at the end of December 2022.
The FRR has an Executive Board that manages the establishment and exercises the powers necessary for its proper functioning. It regularly reports to the Supervisory Board on its management, detailing how the investment policy guidelines have taken social, environmental and ethical considerations into account. It is composed of three members and is chaired by the Director General of the Caisse des Dépôts.
A team of around fifty people today contributes to defining the FRR’s investment policy, selecting, evaluating and monitoring external managers, developing and steering contracts, measuring and attributing performance, analysing risks and producing various reports.
More information on our website: www.fondsdereserve.fr
Working Environment
The intern will report to the FRR’s Legal Department, which also handles the FRR’s external communications.
This department is responsible for the legal security of FRR operations and also carries out the FRR’s external communication activities.
The team works in close coordination with the Finance Department, the Investment Strategy and Allocation Steering Department, Middle Office and the FRR’s Risk Department.
Intern Responsibilities
Working with the legal and communications team, the intern will be responsible for the following tasks:
1) Monitoring public procurement procedures for the selection of portfolio management companies for the FRR, in liaison with the various departments,
2) Legal assistance in setting up portfolio management mandates and monitoring legal relations with management companies during the life of mandates,
3) Negotiating the legal documentation for FRR investments in investment funds (funds of all legal forms and all types of underlying assets) and monitoring them throughout the life of the funds,
4) Monitoring contracts and agreements entered into with the FRR’s financial and non-financial service providers,
5) FRR legal monitoring – tracking regulations affecting FRR activities: institutional investors, portfolio management (individual or collective) on behalf of third parties, provider selection processes, custody and account keeping, financial instruments and AIFM/UCITS/MiFID regulations, etc.,
6) Participating in the monitoring and preparation of FRR external communication materials (website updates, press releases, coordination and publication of the annual report and sustainability report, etc.).
Duration of internship: 6 months
Contact: Sidonie Freoa Dhekaier, Director of Legal Affairs and Communications
Sidonie.freoa-dhekaier@fondsdereserve.fr
Required Profile
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The ideal candidate should combine:
• A postgraduate legal education (Master 2 or equivalent) in financial law.
• Strong communication skills, teamwork ability and rigour are essential qualities for success in this position.
• Fluency in English and proficiency in office tools.