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Type of Role: Investments

Experience Level: Managing Director/CIO

Location: San Diego, California

Salary: $173K - $173K

The County of San Diego Treasurer-Tax Collector’s mission is to provide the residents, agencies and employees of San Diego County with superior financial services in terms of quality, timeliness, efficiency and value while maintaining the highest levels of customer service and satisfaction. The Treasurer-Tax Collector manages an investment pool, which hit a peak of $17.2 billion in April 2023, investing the assets of the County, 42 school districts, five community colleges, and other local government agencies in the County.

The Position: 
The Chief Investment Officer reports to the City Treasurer and is responsible for overseeing the Investments Division for the Department.  The Investments Division is responsible for the management of the City’s pooled investment fund of approximately $2.8 billion in accordance with the City Treasurer’s Investment Policy (Download PDF reader).  The investment portfolios are comprised of fixed-income investment vehicles and are managed to meet near-term cash flow needs; the Division also separately manages the investment of bond proceeds in accordance with the respective indenture agreements. The Investments Division also manages the bank services relationships for the City Treasurer banking agreements and participates in the review, implementation, and monitoring of all electronic banking services, e-commerce systems, and third-party payment processing services. The Chief Investment Officer supervises a team of three: Senior Investment Officer, Assistant Investment Officer, and Investment Assistant.  In accordance with the City’s telework policy, hybrid work options are available.

There’s no such thing as a “perfect” candidate. The City is looking for exceptional people who want to make a positive impact through their work, will serve their community proudly, and be excited to come to work every day. Education and experience studies have shown that people are less likely to apply for jobs unless they believe they can perform every task listed in the job description. The City may consider an equivalent combination of knowledge, skills, education, and experience to meet minimum qualifications and we encourage you to apply if you are interested.

Key Areas of Responsibility:
Manage and oversee all facets of the Investments Division, including:

  • Prudently manage all investment activity for the City’s operating and capital improvements funds to meet daily cash flow requirements and to meet or exceed benchmark earnings while maintaining strict compliance with the City Treasurer’s Investment Policy (IP).
  • Oversee the development and implementation of the investment strategy for the City Treasurer’s investment pool.
  • Direct the Division’s in-house credit analysis on all portfolio credit holdings and summary reports for the City Treasurer.
  • Facilitate the semi-annual meetings of the City Treasurer’s Investment Advisory Committee creating the agenda, drafting the minutes, and creating presentations on the Investment Outlook and the Pool’s performance.
  • Provide annual updates to City Council for proposed IP changes in accordance with federal, state, and local laws, and request annual delegation of authority.
  • Issue monthly reports of investments to the Council in accordance with CGC requirements.
  • Direct the preparation and analysis of short-term and long-term cash flow projections and trends.
  • Develop the annual interest earnings forecast for the City Treasurer’s pooled investment fund and mid-year revision.
  • Serve on the City’s finance team for all new bond issues, and manage the investment of bond proceeds, as requested, to meet performance return goals and budgetary earnings objectives.
  • Develop and maintain relationships with fixed-income brokers, bankers, investment software vendors, and other public finance professionals.
  • Furnish and review investment data provided in Preliminary Official Statements, Official Statements, the City’s Annual Comprehensive Financial Reports, and other reports provided to external stakeholders as requested.
  • Oversee the City Treasurer’s banking relationships and agreements, all related Requests for Proposals and contract extensions, and review monthly banking analysis for accuracy, allocating costs as appropriate citywide.
  • Participate in City’s maintenance with PCI compliance by providing ongoing training to City’s cash handlers and performing policy conformance checks for deposit locations accepting credit cards citywide.
  • Provide expert support and guidance on citywide projects related to electronic payments, e-commerce systems, and third-party payment processing services, and evaluate new payment technology to effectively collect revenue citywide.
  • Consistently review all processes for efficiencies while maintaining strong internal controls.
  • Make presentations to the City Council and council committees and at various civic, community, professional, and business forums.

Minimum Qualifications:

  • Bachelor’s degree and/or master’s degree in Finance or a related field, AND
  • At least seven (7) years of progressively responsible portfolio management experience.
  • Any combination of education and experience that demonstrates these qualifications may be qualifying.

Desirable Qualifications: 
The ideal candidate will possess the following qualifications:

  • Demonstrated success in the direct management of a fixed-income portfolio of comparable size.
  • Competency in exercising fiduciary responsibilities to protect the interests of the City, tax, and ratepayers, and the public.
  • A commitment to public service and fiscal responsibility.
  • Experience with Bloomberg or comparable systems.
  • Advanced degree and/or designation as a Chartered Financial Analyst or Certified Treasury Professional.
  • Strong quantitative analytical abilities, including a thorough understanding of common data analysis tools and programs.
  • Excellent writing and communication skills.
  • Strong interpersonal leadership skills, with the ability to successfully interact with a wide variety of stakeholders.
  • Ability to communicate complex and technical information in a simple, clear, and straightforward manner, including the use of graphs and tables as needed.
  • Ability to communicate effectively to different audiences, including elected officials, various levels of City management, and members of the public.
  • Ability to comprehend technical details and understand how they relate to and impact the “big picture”.
  • Ability to work both independently and as part of a team in a fast-paced, high-pressure environment with tight time constraints.
  • Strong leadership skills and demonstrated ability to mentor employees.
  • Interest in municipal activities and services and how they impact the community.
  • Highly ethical and objective, with the ability to navigate in a political environment without being political.
  • Motivated with the ability and desire to take initiative.

Benefits:
The City offers a robust benefits package that includes:

  • 1 floating holiday per fiscal year.
  • 10 paid holidays.
  • A wide variety of cafeteria-style health and wellness plans or in-lieu cash waiver
  • Annual tuition reimbursement.
  • Approximately 176 hours of paid annual leave for an employee’s first 15 years of service, and approximately 216 hours for 16+ years of service.
  • Child Care Annual Leave Exchange.
  • City-paid life insurance.
  • City-subsidized transit options, including transit passes, parking passes, and vanpool options.
  • Complimentary LinkedIn Learning professional development opportunities.
  • Defined retirement plan, including pension reciprocity, dependent on an employee’s eligibility status (new hire, rehire, etc.).
  • Reduced-rate fitness center memberships.
  • Up to 24 hours of annual discretionary leave per fiscal year.

For additional details, please review the Benefits Summary for Unclassified Employees (Download PDF reader) (Download PDF reader) or contact the Benefits Division of the Risk Management Department at (619) 236-5924.

The Department: 
Under the leadership of the Chief Financial Officer and general direction of the City Treasurer, the Office of the City Treasurer is comprised of five divisions, including the Investments Division, and has an annual operating budget of approximately $28 million and 133 employees.  The Department is responsible for the receipt, custody, and reconciliation of all City revenue, banking and cash management, tax administration, parking administration, and meter operations, the issuance of Short-term Residential licenses and Sidewalk Vending permits, and the collection of citywide delinquent accounts.  The City Treasurer is also responsible for the investment of all operating and capital improvement funds.  In addition, the City Treasurer serves as a member of the Funds Commission and Trustee for the City’s Defined Contribution Plans.

The City:
With more than 1.4 million residents, the City of San Diego is the eighth largest city in the United States and the second largest in California. The City of San Diego’s strong economy, diverse population, great educational institutions, unsurpassed quality of life, and world-renowned location make it the ideal place to work, live, and play. With its great weather, miles of sandy beaches, and major attractions, San Diego has something to offer for everyone.

The City’s Mission, as stated in the Strategic Plan is “Every day we serve our communities to make San Diego not just a fine city, but a great City.” The City’s Vision is “Opportunity in every neighborhood, excellent service for every San Diegan”.

As one of the region’s largest employers, the City of San Diego employs nearly 12,000 highly dedicated employees and has a combined Fiscal Year 2023 operating and capital budget of approximately $5 billion. Additional information about the City of San Diego can be found on the City’s website.

Pre-Employment Requirements and Screening Process:
Employment offers are conditional, pending the results of all screening processes applicable to the position. All the processes required by the City of San Diego must be completed before employment begins. Please refer to the City’s pre-employment requirements and screening process webpage for additional information.  Nothing in this job posting constitutes or should be construed as part of an express or implied contract for employment with the City of San Diego.

Selection Process:
To be considered for this position, you must email and attach the documents listed below to the Human Resources Department at: HumanResources@sandiego.gov
1) Resume;
2) Letter of Interest, highlighting your relevant work experience and qualifications for this position; and
3) List of three professional references.

NOTES: 

a) Attachments must be submitted in either PDF or Word Document format
b) Reference Recruitment Number U2327 in the Subject Line.
c) Candidates are encouraged to apply promptly as interviews and selection may begin upon receipt of resumes from qualified individuals. 

If you have any questions, you may email the City of San Diego Human Resources Department at: HumanResources@sandiego.gov

The City of San Diego has an active Equal Opportunity/ADA Program for employment and vigorously supports diversity in the workplace.