CalPERS Chief Investment Officer Career Opportunity
Join CalPERS, a team that’s proud to serve those who serve California. We have an unwavering commitment to ensuring retirement security for those who invest their lifework in the Golden State. Make a difference for generations to come and apply for our mission-critical chief investment officer (CIO) position.
As the CIO, you’ll receive a base salary and be eligible for annual and long-term incentive award opportunities. As a CalPERS team member, you’ll also be eligible for many other generous benefits.
Job Description & Duties
The CIO plays an integral role in a large, diverse organization that administers pension benefits for 2 million members, purchases health care for 1.5 million members, and deals with a wide array of financial, economic, policy, and administrative issues. Under the policy direction of the CalPERS Board of Administration’s Investment Committee and the administrative direction of the chief executive officer (CEO), the CIO manages the fund’s investments and oversees both the administration and investment functions of the CalPERS Investment Office.
Duties include but are not limited to:
- Implement approved investment strategies and policies.
- Review and evaluate investment policies and goals with the Investment Committee and ensure transparent implementation aligned with their direction.
- Advise the board on asset allocation and the development of new, innovative, strategic, and tactical investment strategies.
- Present recommendations to the Investment Committee, and advise them on theories, styles, quantitative strategies, characteristics, and changing conditions of U.S. and international investment markets.
- Oversee Environmental, Social, and Governance (ESG) integration into the investment decision making process.
- Keep current on domestic and international economic and investment trends.
- Manage and provide leadership to a multi-functional team of over 350 multi-disciplinary investment professionals with seven direct reports.
- Establish workflow and priorities and ensure investment returns exceed established benchmarks.
- Promote teamwork, cross-functional collaboration, and communication in support of strategic goals.
- Attract, motivate, develop, and retain exceptional talent.
- Work collaboratively with the actuarial team.
- Review and monitor outside investment managers’ performance.
- Negotiate fees with investment managers and custodians.
- Travel to meet with other domestic and international public and private pension fund investment professionals.
- Act as a primary spokesperson for CalPERS at investment conferences.
- Represent CalPERS within the investment marketplace and with the Legislature and media.
Knowledge & Abilities
The CIO is a critical member of the executive team for a highly visible and complex government organization and must have:
- Investment acumen, experience, and knowledge to work with and gain the confidence of the CEO, board, and Investment Committee, and to implement prudent strategies to fulfill CalPERS’ mission.
- Expertise to build and maintain productive relationships.
- Excellent communication skills.
- A commitment to transparency.
The ideal candidate is an exceptional investor who is goal-oriented, organized, and can carry out a complicated, highly visible, fast-paced, and multi-faceted role with poise, integrity, and grace.
How to Apply
Those interested in being considered for this position may email our hiring consultant, Dore Partnership, through Catherine O’Connor at email@example.com.