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Type of Role: Investments

Experience Level: Managing Director/CIO

Location: Falls Church, Virginia

Salary: $180K - $250K

The Educational Employees’ Supplementary Retirement System of Fairfax County (ERFC or “the System”) is a legally separate single-employer retirement system and fund established under Virginia code to provide pension benefits to all full-time educational and administrative support employees who are employed by the Fairfax County Public Schools. ERFC is a component unit of Fairfax County Public Schools (FCPS). As of December 31, 2021, ERFC achieved a funded ratio of 78.0%, as determined by the System’s actuarial consultant, AON Retirement & Investment. The System’s assumed rate of return is 7.0%. As of June 30, 2021, ERFC was entrusted with assets under management of $3.0 billion.

The Executive Director reports to the Board of Trustees and leads and directs all development, management, evaluation, and modification of the multifaceted activities, programs, projects, personnel, and fiscal resources of ERFC. The Executive Director develops, manages, supervises, evaluates, and modifies all activities, programs, projects, personnel, and physical and fiscal resources of the office. The Executive Director will serve as a spokesperson to the Fairfax County School Board, Division Superintendent, and Leadership Team.

The Executive Director role will oversee a staff of 36 through 4 direct reports comprised of: an Investment Officer; a Deputy Executive Director, IT & Finance; a Deputy Executive Director, Operations; and an Administrative Assistant. The Executive Director will oversee an operating budget of approximately $7.5 million.

Key near-term initiatives that will be driven by this role is a major upgrade/modernization of the System’s website, the automation of retirement/refund disbursements, issuing an RFP for the investment consultant, and working closely with the Board on the 2025 to 2027 Strategic Plan.

Essential Duties and Responsibilities of the role include:
• Leads in the development of strategies for achieving short- and long-term goals and monitors the results with accountability to the Board of Trustees.
• Directs and ensures the development of appropriate reports, regulations, and related directives for the Board of Trustees, the School Board, or FCPS Leadership Team consideration and action.
• Creates development and implementation action plans, with measurable metrics, to ensure that services and programs are aligned with goals and objectives.
• Participates in activities with bank custodians, legal counsel, consulting actuaries, medical consultants, auditors, and other plan professionals.
• Oversees and coordinates the analysis of retirement system fund performance and reports the findings to the Board of Trustees.
• Directs the creation and dissemination of internal and external communications, approves strategic communication initiatives as directed by the Board of Trustees.
• Monitors member services and benefits; recommends new and/or revised policies and procedures to the Board of Trustees that improve service to members or retirement system operations.
• Oversees systems development initiatives for required functionality; monitors related professional development training for staff.
• Manages risk and matters of compliance related to local, state, and federal laws and regulations, policies, and mandates.
• Analyzes existing and proposed federal and state legislation for impact on ERFC; directs the implementation and compliance with current and newly enacted legislation.
• Monitors ERFC compliance with all relevant administrative policies and procedures, including, but not limited to, fiscal reporting, personnel administration, and budgeting.
• Projects need for, manages, and is accountable for human, physical, and financial resources with the goal of maximizing the efficiency and effectiveness of the office.
• Analyzes, identifies, and resolves budgetary issues and provides recommendations and advice related to budget development and forecasting.
• Develops and submits an annual budget to the Board of Trustees; monitors the implementation of the approved budget.
• Negotiates and/or manages contracts and/or memoranda of understanding/agreements.
• Represents ERFC in negotiating or facilitating resolution regarding matters of significance.
• Oversees and prepares Board of Trustee meeting agendas and reports; ensures that all documentation, including, but not limited to, minutes, consultant reports, investment reports, and custodial statements, related to each Board of Trustees’ meeting is accurate and complete.
• Ensures that ERFC complies with VA FOIA and maintains records consistent with applicable law.
• Meets with, presents to, and/or makes recommendations to high-level officials or the School Board consistent with the direction of the Board of Trustees.
• Develops and maintains relationships with key stakeholders, including government agencies, community organizations, elected officials, and other relevant entities.
• Performs related duties as required or assigned.

EDUCATION AND EXPERIENCE
• Any combination of education and experience equivalent to a master’s degree in business administration, finance, accounting, economics, or related field.
• Eight (8) years of progressively more responsible experience, some of which shall have been in a supervisory or leadership capacity in a related field.
• Experience in management principles and techniques, investment management, retirement and pension fund administration, qualitative and quantitative analysis, and accounting principles.
• Knowledge of federal and state law governing public employee retirement systems and retirement accounting.
• Ability to coordinate a variety of policy and pension plan matters between political leaders, boards, and trustees.
• Ability to manage a variety of administrative, operational, and fiscal issues by analyzing information, evaluating results, and choosing the best approach to short- and long-term problems.
• Ability to act as a skilled change agent and utilize negotiating skills to manage confidential information and navigate sensitive organizational situations.
• Ability to budget, plan, organize, direct, and supervise work of personnel.
• Ability to design and implement continuous process improvement projects to ensure the highest quality service is provided to members and other stakeholders.
• Ability to communicate effectively through public speaking and presentations, business and technical writing, and strong interpersonal skills.
• Previous experience working for a board is highly preferred.
• Previous experience working with external service providers (i.e., external legal counsel, consultants, auditors, etc.) is preferred.

PERSONAL CHARACTERISTICS
• A commitment to continuous process improvement to ensure highest quality service is provided to members and other stakeholders
• Projects confidence but with humility; a servant leader
• Open and welcoming; approachable and visible to board, staff, and members; empathetic, with strong emotional intelligence
• A thoughtful decision-maker who values both people and process
• Integrity and backbone; will do what’s right for ERFC and its members
• High energy level and strong work ethic
• Commitment to the mission and vision of ERFC
• Flexible, versatile, persuasive, and influential; well-developed negotiating skills