Chief Actuary position open at the California Public Employees’ Retirement System (CalPERS). Search underway for a new Chief Actuary to lead its Actuarial Office. Incumbent will provide independent counsel to CalPERS leadership and Board on actuarial valuations, assumptions and policies, rate structure, and funding of the CalPERS System and related funds.
This search is being led by New York-based Heidrick & Struggles. View a full description of the Chief Actuary career opportunity, including the ideal candidate profile and professional competencies.
Interested parties may contact:
Heidrick & Struggles
c/o Mary MacDonald, Principal
233 S. Wacker Drive, Suite 4900
Chicago, IL 60606
Chief Actuary: Duties
Under the direction of the Chief Executive Officer, the Chief Actuary promotes the sound and secure operation of all CalPERS enterprises through a number of activities, including:
- Oversight of all the various units and functions within the Actuarial Office (ACTO) and the planning, organization, direction, and evaluation of work of the actuarial staff
- Evaluation, development, and implementation of actuarial policies and procedures
- Ensuring that all actuarial functions are performed with independence and in conformance with professional standards
The Chief Actuary provides briefings and independent, expert consultation and advice to executive management, the Board’s Finance & Administration Committee, and the Board of Administration, and participates in the development, implementation, and review of CalPERS’ strategic plans.
The CalPERS Chief Actuary represents the organization to a wide variety of external audiences, including the state Legislature, external auditors, compliance agencies, and stakeholders, advocating for sensible policies that affect public pension plans.
Chief Actuary: Hot Seat
Any new Chief Actuary will certainly be on the hot seat, given the fund’s poor return last year and its current actuarial assumptions. I think it is still a great opportunity.
- CalPERS returns 0.61% for latest fiscal year
- CalPERS’ unfunded liabilities grow as its investment earnings lag
- Calpers Reports Lowest Investment Gain Since Financial Crisis
- CalPERS Announces Preliminary Returns of 0.6% When Target is 7.5% (Updated)
For more than eight decades, CalPERS has built retirement and health security for state, school, and public agency members who invest their lifework in public service. Our pension fund serves more than 1.8 million members in the CalPERS retirement system and administers benefits for more than 1.4 million members and their families in our health program, making us the largest defined-benefit public pension in the U.S. CalPERS’ total fund market value currently stands at more than $302 billion. Not an actuary? There are plenty of other job openings at CalPERS.