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Type of Role: Investments

Experience Level: Managing Director/CIO

Location: Boise, Illinois

Salary: $314K - $402K

The Illinois General Assembly created the Teachers’ Retirement System of the State of Illinois (TRS or the System) in 1939 for the purpose of providing retirement annuities, and disability and survivor benefits for educators employed in public schools outside the city of Chicago.

Date:  Jul 27, 2023


Springfield, IL, US, 62702

Job Requisition ID:  29671

Agency:  Teachers’ Retirement System of the State of Illinois
Closing Date/Time:  08/10/2023
Salary:  $26,137 – $33,500 Monthly
Job Type:  Salaried Full Time
County:  Cook
Number of Vacancies:  1


****************A RESUME IS REQUIRED FOR THIS JOB POSTING****************

Please attach a DETAILED Resume/Curriculum Vitae (CV) to the MY DOCUMENTS section of your application. You WILL NOT be considered for the position if you attach a CMS100, CMS100b or any other document that is not a Resume or CV.

Position Overview

Under the direction of and in conjunction with the Executive Director and Chief Investment Officer, the Deputy Chief Investment Officer is responsible for managing and overseeing the $66 billion investment portfolio for the Teachers’ Retirement System of the State of Illinois.  The Deputy Chief Investment Officer develops and implements investment strategies and policies, manages and monitors investment activity and performance, and works with internal and external stakeholders.


This position directs the work performed by the investment team and is responsible for assigning and reviewing subordinates’ work, preparing performance appraisals, effectively recommending and managing personnel needs.

Job Responsibilities

  • Contribute to the development of investment policies and principles, asset allocation strategies, portfolio construction strategies, and risk management controls
  • Ensure resources are sufficient and properly aligned to execute and accomplish the investment strategic plan and goals
  • Review existing portfolio to identify strengths and weaknesses, and provide resulting recommendation and/or commentary as needed
  • Oversee implementation and compliance with investment policies across all portfolios
  • Oversee risk management controls across all portfolios and assist in devising plans to mitigate risk
  • Report on fund operations and adherence to administrative procedures, accounting rules, and risk management practices
  • Actively represent TRS to the investment management community and maintain positive relationships with the System’s investment partners
  • Manage, in collaboration with the Executive Director & CIO, relationships with investment managers and other external advisors and consultants engaged by TRS
  • Present reports on general market conditions/trends with implications on investment policies, operations and/or performance to the Executive Director & CIO, Internal Investment Committees, and the TRS Investment Committee/Board
  • Lead, support, and mentor TRS’s investment staff, promoting a culture of excellence, collaboration, and professional growth
  • Develop a diverse and high-caliber staff that is well prepared to meet ongoing challenges and opportunities
  • Set clear expectations and measurable goals; reward and promote high standards of performance; teach, coach, evaluate and provide feedback to improve performance and develop employees’ potential
  • Demonstrate, by example, high levels of ethics, professionalism, collaboration, communication and teamwork with all investment staff
  • Actively and meaningfully promote a commitment to diversity, equity, and inclusion
  • Recruit and retain top talent by and establishing TRS as a broadly viewed employer of choice
  • In the Executive Director & CIO’s absence, assume the CIO’s responsibilities
  • Perform other duties as required or assigned

Knowledge, Skills, and Abilities

  • Understanding of modern portfolio theory, portfolio construction, portfolio management, and risk management systems and controls
  • Demonstrated analytical skills to build models and interpret complex financial data
  • Excellent verbal and written communication skills to conduct meetings, give presentations, and write reports
  • Strong research skills to explore and evaluate new investments
  • Extensive knowledge of finance, the economy and investment markets
  • Excellent decision-making skills with the confidence to communicate opinions
  • Ability to use accounting, spreadsheet and investing software programs
  • Management skills to lead the investment team

Minimum Requirements

  • Bachelor’s degree in finance, economics, or related field of business.  A master’s degree or education beyond the undergraduate level is preferred.  Equivalent experience of five (5) years may be substituted in lieu of education requirements
  • Minimum of 5-8 years of relevant investment experience is required
  • Dedication to public service and an understanding of defined benefit plans
  • Experience managing or advising on institutional assets
  • Experience sourcing and monitoring external managers
  • Experience with a variety of private investment partnership structures
  • CFA and/or CAIA preferred
  • Investment experience working in or consulting to the public sector preferred

Work Hours:  8:30 – 4:30, Mon – Fri
Work Location: 333 W. Wacker Dr., Chicago, IL 60606
Agency Contact:
Job Family: Leadership & Management


Agency statement:

TRS provides retirement benefits for teachers who are employed by all Illinois public common and charter school districts located outside the city of Chicago. The Illinois Pension Code contains the laws relating to our creation, benefits, and administration.


The main form of communication will be through email. Please check your “junk mail”, “spam”, or “other” folder for communication(s) regarding any submitted application(s). You may receive emails from the following addresses:


Nearest Major Market: Springfield