The Robert Toigo Foundation

Investment Officer III – Innovative Strategies

CalSTRS
Published
September 20, 2021
Location
West Sacramento, CA
Category
Job Type
Salary
$114,444 - $136,476, annual incentive up to 20% of base, 5% for CFA, plus benefits

Description

The CalSTRS Investments Branch is seeking an experienced individual to work as an Investment Officer III in the Investment Strategies & Risk Unit.
Established in 2019, the Investment Strategy & Risk (ISR) group’s primary goal is to improve the risk-adjusted returns of the CalSTRS portfolio through a total fund approach with smart rebalancing, risk management and the inclusion of alternative investments and overlay strategies. Due to CalSTRS being a mature pension fund with negative cash flows, tighter cash management with efficient rebalancing and total fund management are increasingly important to fund performance. The ISR team will focus on the longer-term asset liability management and shorter-term tactical fund positioning with risk budgeting.
Under the general direction of the Portfolio Manager, the Investment Officer III will recommend and implement investment strategies and policies that support the goals and objectives of the Innovative Strategies Portfolio. The incumbent is expected to perform the most complex duties requiring the highest degree of competence, independence, confidentiality, and discretionary judgement.
Responsibilities of the Investment Officer III include:
  • Sourcing investment strategies with attractive long-term risk-adjusted returns for the CalSTRS portfolio that are not part of the traditional asset classes currently used by the Investment Committee.
  • Conducting initial and ongoing due diligence and on-site visits with external investment managers.
  • Sourcing new multi-asset class strategies and private credit opportunities, which may include seeding new strategies, developing co-investment strategies, developing joint ventures with external managers, and joining syndicates of institutional investors on a direct investment.
  • Serving as a lead to mentor to investment staff, including but not limited to providing oversight to operational duties, providing guidance on improving investment analysis skills, and assisting with development of project management skills.
This position is eligible for incentive compensation and has a maximum incentive opportunity of 20% of base salary.
An Investment Officer III who possesses a professional certification as a Chartered Financial Analyst (CFA) may receive a 5% monthly base pay differential.

Desirable Qualifications

In addition to evaluating each candidate's relative ability, as demonstrated by quality and breadth of experience, the following factors will provide the basis for competitively evaluating each candidate:
  • Bachelor’s degree in finance, economics, business, or a related field
  • CAIA or CFA Designation preferred
  • Knowledge of investment industry principles and practices across multi-asset classes, primarily private asset investments
  • Experience evaluating private equity or private credit co-investment or direct investment opportunities
  • Experience sourcing, developing, or implementing investment strategies
  • Experience conducting initial or ongoing due diligence
  • Experience performing private market attribution analysis
  • Investment management experience with a financial institution, pension fund, endowment, or foundation
  • Strong interpersonal skills
  • Excellent written and oral communication skills
  • Strong quantitative analytical ability
  • Ability to analyze various data points and understand how they work together to produce larger-scale effects
  • Ability to organize research, summarize and convey complex concepts in a consistent, sensible, and approachable manner without loss of technical integrity
  • Ability to promote cross-functional collaboration and communication in support of Investments Branch goals
  • Ability to present information clearly, both orally and in writing, to a wide range of audiences
  • Ability to work effectively as an individual and as part of a team to support team, unit, and Investments Branch goals

Benefits

CalSTRS offers a competitive pay schedule and a work-life-balance for all its employees. The State of California provides comprehensive benefits packages determined by the employee’s bargaining unit and conditions of employment. Some benefits include:

  • Alternative work schedules
  • Flexible work hours
  • Remote work options
  • Medical benefits, including health, dental and vision insurance
  • Paid holidays and a defined benefit retirement program
  • More than four weeks of vacation/sick leave for leaders
  • More than three weeks of vacation/sick leave for staff
  • Health insurance in retirement
  • Employee Assistance Program
  • Loan forgiveness under the federal Public Service Loan Forgiveness Program

For the latest information on the benefits offered by the state of California, explore the Health Benefits Summary provided by CalHR.

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