The open portfolio manager positions, posted yesterday, pay $126,000 to $190,000 annually and work in asset allocation full time at the CalPERS headquarters in Sacramento.
Announcements were tweeted yesterday @calpers. Applications for Investment Office seeks Portfolio Manager in Global Fixed Income are due by July 10; in Asset Allocation. Closing Date: June 20, 2013. Other positions as well.
Portfolio managers plan, direct, and evaluate the work of subordinate investment staff; develop and implement, or advise on a variety of sophisticated investment and portfolio management strategies, programs, and models; determine asset allocation among various investment types, classes, strategies, and/or structures; prepare and present reports to the CalPERS Board of Administration, its Investment Committee, and its Policy Sub-committee, and oversee preparation of such reports by others; manage external investment programs, including selecting external investment managers, setting their investment parameters and objectives, and coordinating and evaluating their performance; identify investment vehicles and opportunities, and evaluate their terms, legal documents, agreements, risks, potential returns, and economic characteristics; assist in the recruitment, selection, and development of investment staff; develop, oversee, and conduct investment-oriented research; monitor existing investments, review and approve contract revisions, and recommend changes in commitments of funds based on investment performance; evaluate, select, negotiate, and enter into investment partnerships, and oversee CalPERS participation in these partnerships; and conduct due diligence review for proposed investments.
Portfolio managers also execute or supervise the execution of investment transactions; represent the CalPERS Board in various investment settings, and before the investment community; analyze, recommend, develop, and implement investment policies, guidelines, and standards; prepare strategic investment plans; develop assumptions and projections regarding current and future investment returns, risks, and correlations for whole asset classes or major investment sectors within asset classes; work with investment staff, external partners, and consultants to reach decisions on the valuation, purchase, and sale of investments; as necessary, lead on-site reviews of current and prospective investment holdings; recommend, develop, and implement a variety of systems and strategies for office-wide investment management, including ones relating to order/transaction management, portfolio performance, construction and analysis, asset allocation, and risk management; oversee response to legal, regulatory, management, environmental, and other issues affecting CalPERS investments; manage the investment program’s capital calls, cash transfers, and receipts; and do other related work.
Basic requirements: One year of experience in the California state service performing the duties of an Investment Officer III, Retirement Systems, or two years of experience in the California state service performing the duties of an Investment Officer II, Retirement Systems. OR Five years of broad and extensive investment management experience for a major financial institution or firm, or governmental agency, including some experience in leading or coordinating professional staff, and review of a large and varied investment portfolio. Qualifying State experience must be at a level comparable to that of an Investment Officer II, Retirement Systems.
(Possession of an advanced degree in one of the fields included above in the education requirement, or a closely related field; or certification as a Chartered Financial Analyst or other equivalent financial or accounting certification such as a Certified Public Accountant, may be substituted for one year of the required experience.)
The nation’s largest public pension fund, CalPERS manages assets of more than $260 billion.