The Deputy Chief Investment Officer (Deputy CIO), under the supervision and direction of the Chief Investment Officer (CIO), has substantial responsibility for administering SCERS’ $9 billion investment program; planning and developing recommendations for investment strategies; overseeing and evaluating investment managers, consultants, custodian, and other financial service providers; monitoring, analyzing, and reporting on investment performance and compliance; conducting complex research and analysis related to the investment program; overseeing and providing direction to the investment staff; presenting investment-related reports to the Board; and performing related duties as required.
The Deputy CIO is an exempt executive management level classification at SCERS. This position operates under the supervision and direction of the CIO and has responsibility for the implementation and oversight of the investment policies, structures, systems, and service providers in SCERS’ investment program. The Deputy CIO assists the CIO in the formulation and evaluation of investment policies and strategy, the development of the asset allocation and investment manager structures, and the risk management framework. The Deputy CIO, under direction of the CIO, is also responsible for managing assigned asset classes in the investment program at SCERS. The position provides supervision of and direction to the investment staff in carrying out responsibilities related to the monitoring, analyzing, and reporting functions of the investment program. The Deputy CIO develops recommendations regarding investment mandates, service providers, and investment management tools and systems.
The ideal candidate will be someone with a substantial and successful investment track record. The selected candidate will have a background working within a diversified institutional portfolio and across multiple asset classes. Asset classes within SCERS’ portfolio include public equities and fixed income, and alternative investments such as absolute return, real estate, and private markets (private equity; private debt, real assets). This candidate will also have exceptional communication and interpersonal skills. Lastly, this candidate will be confident and comfortable managing a team, as well as speaking in public when presenting to Board, Staff, investment managers, and the public.
Desired Knowledge, Abilities and Skills
• Knowledge set – In-depth knowledge of both established and emerging investment trends and vehicles.
• Analytical skills – Ability to skillfully analyze and interpret complex investment information, and formulate investment recommendations off this information.
• Communication skills – Ability to communicate complex investment topics, to write effective and understandable reports, and to prepare and deliver engaging presentations.
• Quantitative computer skills – Ability to design, build, maintain, and effectively use complex spreadsheets and databases. Experience with Microsoft Excel, PowerPoint, Access, and Adobe Acrobat.
• Working style – Ability to work effectively in a public environment. Ability to work independently with minimal staff assistance.
About Sacramento County Employees' Retirement System
The Sacramento County Employees’ Retirement System (“SCERS” or the “System”) is a multiple-employer, cost sharing public employee retirement system which operates under the County Employees’ Retirement Law of 1937 (Section 31450 et seq. of the California Government Code). The System was created by resolution of the Sacramento County Board of Supervisors on July 1, 1941 to provide retirement, disability, and death benefits to qualified employees of Sacramento County, Superior Court, and participating Special Districts. SCERS is governed by a nine-member Board of Retirement (Board); four are appointed by the Sacramento County Board of Supervisors, four are elected by the members of the System, and the Sacramento County Director of Finance sits as an Ex-Officio member. An alternate Safety Board member and an alternate Retiree Board member are also elected by those respective groups.
The Board has sole and exclusive fiduciary responsibility over the assets of the fund and for administering basic benefits provided by the 1937 Act, as well as optional provisions adopted by the Board of Supervisors. In order to ensure that the assets of the system are diversified and that the system i...s earning a reasonable rate of return on investments, the Board works with an investment consulting firm to establish its Investment Plan and Policy. Funding for future retirement benefits calls for a long-term outlook, and as a result, the Board’s Investment Policy has an appropriate long-term horizon.
Operating from a beautiful high-rise in downtown Sacramento, the system serves approximately 26,000 members with a fund balance of over $9 billion. The system is legally and fiscally independent of the County.