Chief Investment Officer, Public Employees Retirement System

Join the California Public Employees’ Retirement System (CalPERS), a team that is proud to serve those who serve California. We’re committed to ensure retirement security for those who invest their lifework in the Golden State. Make a difference for generations to come – – – apply for our mission critical Chief Investment Officer (CIO) position.

As the CIO, you’ll receive a base salary and will be eligible for annual and long-term incentive award opportunities. As a CalPERS team member, you’ll be eligible for many other generous benefits.

The CIO plays an integral role in a large, diverse organization that administers pension benefits and purchases health care for 2 million members. As the CIO, you’ll be a critical member of the Executive Team in a highly visible and complex governmental organization where you’ll deal with an array of financial, economic, policy, and administrative issues. The ideal candidate is an exceptional investor who is goal-oriented, organized, and can carry out a complicated and multi-faceted role with poise, integrity, and grace. Excellent communication skills are essential, as is transparency and productive relationship building.

The CIO works under the policy direction of the Board of Administration Investment Committee and the administrative direction of the Chief Executive Officer. As the CIO, you’ll manage the fund’s investments and oversee both the administration and investment functions of the CalPERS Investment Office. This includes but is not limited to: advising the Board on asset allocation and the development of new and innovative investment strategies; implementing approved investment strategies and policies; leading a team of seven direct reports and over 350 multi-disciplinary investment professionals; establishing priorities to ensure investment returns exceed established benchmarks. The CIO must have investment acumen, experience, and knowledge to work with and gain the confidence of the CEO and CalPERS’ Board of Administration and their Investment Committee, and to implement prudent strategies to fulfill CalPERS’ mission.

Duties include but are not limited to:

• Formulate and oversee implementation of strategic and tactical investment strategies
• Present recommendations to the CalPERS Investment Committee
• Review and monitor asset allocation strategy; recommend appropriate changes
• Review and monitor outside investment managers’ performance
• Advise the Investment Committee on investment theories and investment styles, quantitative strategies, and characteristics and changing conditions of U.S. and international markets
• Review and evaluate investment policies and goals with the Investment Committee and ensure transparent implementation aligned with Investment Committee direction
• Manage and provide leadership to a multi-functional; attract, motivate, develop, and retain exceptional talent
• Work collaboratively with the CalPERS actuarial team
• Promote teamwork, cross-functional collaboration, and communication in support of CalPERS strategic goals
• Oversee implementation of Environmental, Social, and Governance integration into the investment decision making process
• Act as a primary spokesperson for CalPERS at investment conferences

You will find additional information about the job in the Duty Statement.