April 13, 2012
External Affairs Branch
Robert Udall Glazier, Deputy Executive Officer
Brad Pacheco, Chief, Office of Public Affairs
Contact: Bob Burton, Information Officer
Kathleen Webb Named CalPERS New Chief of Risk, Compliance and Ethics
SACRAMENTO, CA – The California Public Employees’ Retirement System (CalPERS) today announced the appointment of Kathleen K. Webb as the pension fund’s Chief Officer for Risk, Compliance and Ethics.
In this newly created position, Webb will be responsible for providing an independent assessment of CalPERS financial, compliance, legal, security, operational, reputational, political, and strategic risks. She will also provide day-to-day executive leadership for two key divisions within CalPERS Office of Enterprise Risk Management responsible for conducting enterprise and program risk assessments, developing an enterprise risk management framework, compliance of CalPERS retirement, health and investment programs, and cultivating a risk-intelligent culture.
Webb will also serve as an independent advisor and consultant to CalPERS Risk Committee and escalate issues to the full CalPERS Board as necessary.
She starts her new role on April 23 and will report to Russ Fong, Acting Chief Financial Officer for CalPERS.
“Kathleen comes to CalPERS with a wealth of experience in California state government,” said Fong. “We look forward to her leadership and guidance to ensure that CalPERS risk and compliance programs are strong, effective and in alignment with our strategic goals and objectives.“
Webb joins CalPERS from the California Correctional Health Care Services (CCHCS) where she served as Director of Policy and Risk Management Services with responsibility for litigation, inmate appeals, internal audits, health information privacy and program compliance for the last two years. She previously served as Chief of the Strategic Planning and Policy Branch for CCHCS coordinating the Federal Receiver’s Turnaround Plan of Action. Her prior State service also includes Deputy Director of the Department of General Services and Director of the Governor’s Office of the Insurance Advisor.
Webb has a Bachelor of Arts degree in political science and women’s studies from the University of California, Berkeley.
CalPERS, with assets of approximately $235 billion, is the largest public pension fund in the U.S. It administers retirement benefits for more than 1.6 million California state, local government, and public school employees, retirees, and their families on behalf of more than 3,000 public employers, and health benefits for more than 1.3 million enrollees. The average CalPERS pension benefit is $2,332 per month. The average benefit for those who retired in the most recent fiscal year that ended June 30, 2011, is $3,065 per month. More information about CalPERS is available at www.calpers.ca.gov.