INVESTMENT OFFICER The Contra Costa County Employees' Retirement Association (CCCERA) located in Concord, California is seeking an experienced and dynamic Investment Officer to join our team and oversee the management of our public markets portfolio, including global equities, credit and hedge funds.
As a senior member of the investment team, the incumbent will play a crucial role in shaping the investment strategy and ensuring the long-term financial health of the pension fund. The ideal candidate will bring a proven track of managing large, diversified investment portfolios, particularly within public markets. They should have an in-depth understanding of global financial markets, asset allocation, risk management, and investment strategies. This candidate must possess the ability to think critically and independently, with a strong capability to lead, influence and build consensus within the team and across the broader organization.
A key aspect of this role is the ability to communicate complex investment concepts and strategies effectively to a wide range of stakeholders. The Investment Officer must be adept at translating technical jargon into clear, understandable language, ensuring transparency and trust with all parties. Ethics and a strong commitment to public service are paramount in this position. The ideal candidate will have a deep appreciation for the fiduciary responsibility inherent in managing public pension funds, and will consistently demonstrate integrity, accountability and dedication to the mission of serving our beneficiaries. The Investment Officer will also be expected to foster a collaborative, inclusive and respectful work environment, helping to shape a culture that values both excellence in investment management and the highest ethical standards.
This is a unique opportunity to make a lasting impact within a prominent public pension system, and we are looking for an individual who is ready to bring vision, expertise and integrity to the role of Investment Officer.
Examples of typical job functions: - Analyze economic and financial markets on a global basis; research and analyze pension fund investment management trends and new product development.
- Assist in developing objectives and guidelines for the investment program, prepare Requests for Proposals, and participate in required due diligence.
- Review and recommend changes to the investment structure including calculating risk budgeting analytics for risk decomposition and performance attribution.
- Guide the investment consultants in performing the asset liability studies.
- Work effectively with Investment Counsel on legal issues.
- Assist in the preparation of investment-related agenda items including identifying and recommending potential subjects for investment education for the Board of Retirement.
- Perform related duties as required.
In addition, depending on the specialization listed below, the following tasks will also be assigned: When Assigned to Growth Public Markets and Diversifying Assets: - Development and implementation of interest, inflation and equity hedging strategies.
- Risk measurement of the overall investment program.
- Provide guidance regarding the selection and monitoring of investment managers.
- Review and monitor the Investment Policy Statement as they relate to public investments.
- Provide guidance and perform due diligence on investment managers, with a particular focus on public securities and the monitoring of equity and fixed income investment managers.
When Assigned to Liquidity Program and Operations: - Monitor, analyze and project cash flow for the retirement system; ensuring sufficient cash balance to meet fund expenditure requirements and properly maintain the asset allocation plan.
- Act as primary point of contact for liquidity managers.
- Responsible for designing reports to ensure robust oversight of the liquidity program.
- Act as primary point of contact for operational partners, including custodian, manage research platforms and database providers.
- Assist CIO in the design and implementation of risk oversight functions.
- Primary point of contact between the investment and accounting departments within CCCERA.
QUALIFICATIONS Knowledge of: - Institutional investment methodologies as they apply to public pension plans.
- Asset allocation and asset liability designs and how these could be applied to CCCERA
- Advanced financial modeling such as option pricing techniques and stochastic modeling.
- The behavior of pension liabilities with changes in interest rates, inflation and capital markets.
- Public security markets such as fixed income and public equities.
- The laws, rules, regulations and professional standards regarding investment of public pension funds.
- Economic and market conditions and trends and their effect on short term and long-term investment programs and strategies.
Ability to: - Analyze and interpret market and financial conditions.
- Evaluate complex investment transactions.
- Understand and interpret laws, rules and regulations governing the investment of public funds.
- Identify potential investment opportunities suitable for the institutional portfolio.
- Prepare clear and concise reports, correspondence, policies, procedures and other written materials.
- Conduct presentations with the Board, internal colleagues and external organizations.
- Analyze, interpret, summarize and present administrative and technical information and data in an effective manner.
- Interpret, apply, explain and ensure compliance with Federal, State and local policies, procedures, laws and regulations.
- Use tact and initiative, and make independent decisions within general policy, procedural and legal guidelines.
- Organize and prioritize a variety of projects and multiple tasks to meet critical deadlines.
- Effectively represent CCCERA in meetings with governmental agencies, community groups and various businesses, professional and regulatory organizations and in meetings with individuals.
- Operate modern office equipment including computers and specialized software applications relevant to work performed.
- Use English effectively to communicate in person, over the telephone, and in writing.
- Establish, maintain and foster positive and effective working relationships with those contacted in the course of work.
- Demonstrate strict confidentiality, professionalism, integrity and compliance with applicable laws and regulations at all times.
Education: Equivalent to graduation from a four-year college or university with major course work in accounting, economics, finance, public administration, business, or a closely related field
Experience: Four years of increasingly responsible professional level experience in a public agency, trust organization, investment bank, money management or financial consulting firm with direct experience in institutional portfolio management and overseeing, analyzing, or monitoring investments for a pension fund. One year of which should include supervisory responsibilities.
Special Requirement: Must be willing to work irregular hours as necessary. Travel of up to 25% is included in this position. Experience with 1937 Act Retirement systems and/or pension administration systems is desirable, but not required.
Licenses and Certifications: Chartered Financial Analyst designation, Chartered Alternative Investment Analyst, or Financial Risk Manager or equivalent are desired.
Disaster Service Worker: All Contra Costa County Employees' Retirement Association (CCCERA) employees are designated Disaster Service Workers through state and local law. Employment with CCCERA requires the affirmation of a loyalty oath to this effect. Employees are required to return to work as ordered in the event of an emergency, therefore, employees must be residing within 200 miles of Concord, CA on scheduled workdays.
Additional Information: This position has 5 steps in the salary range. CCCERA generally starts new hires at step 1, or step 2 based on qualifications. The salary increase from step 1 to step 2 is assessed at 6 months and annually thereafter.
After an initial training period, CCCERA allows employees to request to work remotely up to 2 days per week. Everyone is required to work in the office on Tuesdays.
Final Filing Date: April 14, 2025. Applications will be reviewed as they are received. Application Filing: Interested applicants are encouraged to apply on-line at and submit the required information as indicated on the job bulletin. Applicants must clearly demonstrate that they meet the minimum qualifications. Resumes may not be substituted for the official CCCERA application.
Paper, faxed or late applications WILL NOT be accepted. Equal Employment Opportunity: It is the policy of CCCERA to consider all applicants for employment without regard to race, color, religion, sex, national origin, ethnicity, age, disability, sexual orientation, gender, gender identify, gender expression, marital status, ancestry, medical condition, genetic information, military or veteran status, or other protected category under the law.
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