Retirement Investment Officer

San Joaquin County Employees’ Retirement Association (SJCERA)

SJCERA is a $4.6 billion multi-employer public employee retirement system that provides retirement, disability, and survivors’ benefits to eligible employees of San Joaquin County and nine other participating employers. SJCERA has constructed a diversified portfolio that invests across public and private markets, including a risk mitigation component, designed to meet the annual assumed rate of return of 6.75%. SJCERA is responsible for maximizing investment returns on member and County contributions and minimizing expenses for administration.

The Position
The Retirement Investment Officer assists the Retirement Administrator in administering, monitoring and evaluating SJCERA’s $4.6 billion investment program. This position serves as liaison with SJCERA’s investment consultants, oversees the development of comprehensive investment agreements with investment managers, monitors and analyzes investment performance, and maintains asset allocation and risk-limits through rebalancing.

Typical Duties

1. In collaboration with the investment consultants, monitors existing, and explores and evaluates new strategies across all asset classes to analyze and propose those suitable for SJCERA.
2. Monitors the investment portfolio, including underlying portfolio investments’ performance relative to expectations; obtains explanation of anomalies from the investment consultant to report to the Retirement Administrator.
3. Assists the Retirement Financial Officer with monitoring and analyzing cash flow projections. Reviews and approves capital calls.
4. Serves as liaison between SJCERA and investment consultants in the development of Board and Committee meeting agendas, materials, policies and annual plan. Participates in Board of Retirement meetings. Manages investment inquiries from Board members, SJCERA staff, public officials, the public, and the trade press; researches and complies with investment-related public records requests in compliance with legal deadlines.
5. Assists the investment consultant with rebalancing assets to maintain Board-approved asset allocation.
6. Assists legal counsel in overseeing contract process. May assist in monitoring contract compliance and oversee remedy of violations.

Ideal Candidate
The Retirement Investment Officer for San Joaquin County will possess the following leadership qualifications:

• A high level of integrity and strong professional work ethics.
• Fiscally sound leadership and advising, professional accountability, the ability to make sound business decisions as a fiduciary for members.
• Strong and articulate communications skills.
• Demonstrated analytical skills, seasoned judgement and a proven ability to effectively collaborate with multiple entities to attain common goals.

Desirable Qualifications
Possession of a master’s degree in economics, finance, accounting, business/public administration (with an emphasis in investment, economics, finance, accounting, or real estate) or a closely related field.
Three years of recent professional investment experience with the primary responsibility of assisting in the management of a multi-million dollar investment portfolio in a public agency or financial institution.
Current designation as a Chartered Financial Analyst (CFA) by the CFA Institute is highly desired.

Compensation and Benefits
Approximate Annual Base Salary: $126,975 - $154,336
In addition to base salary, the County offers an excellent compensation and benefits plan which includes a county contribution to health insurance, dental, and vision insurance plans.
The County provides a competitive Senior Management benefit package that includes:

• Defined benefit retirement plan with reciprocity with most other California public retirement plans.
• 15 days of vacation leave a year (20 days after 10 years, 23 days after 20 years).
• 12 days of sick leave annually with unlimited accumulation.
• 14 paid holidays per year.
• 80 hours of administrative leave annually.
• 125 Flex Benefits Plan.
• 2% employer contribution to Deferred Compensation plan.

Recruitment Incentives
Reimbursement of qualifying moving expenses up to $5,000.
Vacation accrual rate consistent with candidate’s total years of public service.
Sick leave credit up to 160 hours of unreimbursed sick leave from prior public sector employer.

A hybrid work schedule is potentially available for this position.

Application Procedure
Applications including resume, cover letter, and answers to supplemental questions must be received by the final filing date: Friday, November 22, 2024 .

For more information or to apply online, visit the San Joaquin County HR page at .
For questions, please contact: Nicole Devencenzi, Principal Personnel Analyst at (209) 468-9755.

Selection Process
If warranted by the number of candidates, applications may be reviewed by a screening panel. If utilized, the screening panel will select those most qualified to be considered to participate in interviews with the Chief Executive Officer, tentatively scheduled for the week of December 9, 2024. Final candidates will be subject to a background investigation and reference check prior to final selection. Offers of employment will be conditional on clearing a background check, criminal records verification with the DOJ, and pre-employment drug screening.