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Type of Role: Investments

Experience Level: Managing Director/CIO

Location: Tacoma, Washington

Salary: $231K - $326K

The City of Tacoma is looking for a highly qualified Chief Investment Officer (CIO) to provide investment leadership and guidance for the Tacoma Employees’ Retirement System’s (TERS) asset portfolio. The ideal candidate will be an exemplary collaborative partner with experience in financial sustainability.  The CIO must possess a strong understanding of asset allocation, risk management, and investment policy guidelines.

The City of Tacoma is looking for a highly qualified Chief Investment Officer (CIO) to provide investment leadership and guidance for the Tacoma Employees’ Retirement System’s (TERS) asset portfolio. The ideal candidate will be an exemplary collaborative partner with experience in financial sustainability.  The CIO must possess a strong understanding of asset allocation, risk management, and investment policy guidelines. Reporting to the Retirement Director, the CIO is responsible for the overall management of TERS’s $2.1 billion in assets, including portfolio construction, manager selection, implementation, rebalancing, and strategy evolution.

The Chief Investment Officer’s broad mandate includes responsibility for all aspects of portfolio construction, driving adherence to investment policy guidelines, asset allocation, risk management and striving to exceed performance benchmarks while assuming appropriate levels of risk. The CIO will work in collaboration with the TERS Board, investment consultant, and the external Investment Advisory Committee.

Responsibilities Include:

  • Manage the Tacoma Employees’ Retirement System’s investment portfolio, including portfolio construction, implementation, and rebalancing
  • Monitor performance, portfolio positions and strategy, and organizational changes of the investment fund managers
  • Complete analytical reviews to evaluate the relative performance of each fund manager on a regular basis
  • Conduct thorough due diligence on the most compelling prospective opportunities including analysis of investment strategy, process, organization, portfolio positions, and relative and absolute performance
  • Work with the investment consultant, asset managers and custodian to ensure ongoing compliance with Board approved investment policy
  • Provide oversight of investment staff

 

 

Qualifications

Minimum Education*
Bachelor’s degree in business administration, accounting, finance or directly related field

Minimum Experience*
8 years of investment portfolio administration experience including prior supervisory, managerial and/or subject-matter expert experience

*Equivalency: 1 year of experience = 1 year of education

Licensing, Certifications and Other Requirements
Chartered Financial Analyst (CFA) or Chartered Alternative Investment Analyst (CAIA)

Knowledge & Skills

Knowledge

  • In-depth knowledge of investment management principles, including asset allocation, risk management, and performance measurement methodologies
  • Understanding of investment policy guidelines and compliance, including relevant regulations and reporting requirements
  • Knowledge of the investment marketplace, including asset classes, investment strategies, and due diligence on investment opportunities
  • Familiarity with investment-related technologies and software, such as investment management systems, performance attribution tools, and financial modeling software
  • Awareness of ESG (Environmental, Social, and Governance) investing principles
  • Experience in investment portfolio management, investment strategy and analysis, retirement policy and objectives, investment fund management and performance evaluation
  • Collaboration experience with investment consultants and external investment advisory committees

Skills

  • Strong analytical, problem-solving, and organizational abilities
  • Excellent communication and interpersonal skills for conveying complex investment concepts to stakeholders and collaborating effectively with consultants and asset managers
  • Leadership and management skills to motivate and oversee investment staff, make budgetary decisions, and provide strategic guidance
  • Ability to conduct due diligence, assess risk, and develop strategies to mitigate risk for investment opportunities
  • Strategic thinking and long-term planning expertise for portfolio construction, implementation, and rebalancing, as well as guidance on retirement policy and investment objectives
  • Attention to detail and accuracy in data analysis, reporting, and compliance monitoring with investment policy
  • Collaboration with investment consultants, asset managers, and custodians
  • Oversight of investment staff and budgetary decision-making, including influence on asset management fees and custodial costs
  • Analytical review and evaluation of fund manager performance for portfolio construction and rebalancing

 

Selection Process & Supplemental Information

City of Tacoma Commitment to Diversity and Inclusion
Tacoma’s diversity is its greatest asset. Tacoma embraces its multi-cultural and multi-ethnic character. Communities of color and immigrant communities are fundamental to Tacoma’s entrepreneurial spirit, workforce, and long-term success. In Tacoma, equity and empowerment are top priorities, meaning that all Tacoma residents must have equitable opportunities to reach their full potential and share in the benefits of community progress.  One of our goals is for the City of Tacoma workforce to reflect the community it serves. We actively work to eliminate racial and other disparities and welcome candidates with diverse backgrounds and/or multicultural skill sets and experiences. Our goal is for Tacoma to be an inclusive and equitable place to live, work, and play.

The City of Tacoma is an Equal Opportunity Employer and values diversity in its workplace. Applicants are considered for positions without regard to race, color, religion, sex, national origin, ancestry, age, marital or veteran status, disability, sexual orientation, gender identity, or any other basis prohibited by federal, state, and local laws.

Why work for the City? 

The City of Tacoma is nestled along the shores of Commencement Bay in Washington State and offers many community parks, miles of beautiful waterfront, hiking & biking trails, golf courses, museums, and a world-class zoo with an aquarium. Tacoma also serves as a gateway to some of the most magnificent natural wonders in the world, such as Puget Sound, Mount Rainier National Park and the Olympic Peninsula.

The City of Tacoma provides excellent medical, dental and vision benefits for the whole family; paid holidays and personal time off; participation in Tacoma’s Public Employees’ Retirement System and a growing variety of City-sponsored health and wellness opportunities.

For more information on the City of Tacoma’s benefit package feel free to explore City of Tacoma Benefits.

To be considered for this career opportunity: 
Interested individuals should apply online and attach a detailed resume and cover letter describing your experience, training, and expertise as it relates to the responsibilities of this position. Please answer all supplemental questions fully.  Applications received without all the requested materials may not progress in the selection process.

Applicants who have the strongest background related to the responsibilities of this position may be invited to participate in an interview and work assessment.

Appointment is subject to successful completion of a background check.

Communication from the City of Tacoma:
We primarily communicate via e-mail during the application process. E-mails from Cityoftacoma.org and/or neogov.com must be placed on your safe domain list to ensure that you receive notifications in a timely manner. As a precaution, you may also want to check your junk e-mail folders.

The online application system requires you to enter a substantial amount of information. Be prepared to spend an hour or more entering the required information. In order for your application materials to be considered, all information must be submitted by the closing date and time listed on this job announcement.

For assistance with the application process or questions regarding this job announcement please contact Human Resources at (253) 591-5400 by 4:00 pm on the closing date. This will allow us to assist you before the job announcement closes.