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Type of Role: InvestmentsRisk

Experience Level: VP/Principal/Director

Location: Sacramento, California

Salary: $121K - $145K

The California State Teachers’ Retirement System (CalSTRS) has $309 billion in AUM and provides retirement, disability and survivor benefits for California’s 965,000 prekindergarten through community college educators and their families. Details below.

The CalSTRS Investments Branch is seeking an experienced individual to work as an Investment Officer III on the Investment Strategy & Risk team.

The Investment Strategy & Risk (ISR) team’s primary goal is to improve the risk-adjusted returns of the CalSTRS portfolio through a total fund approach with smart rebalancing, risk management and the inclusion of alternative investments and overlay strategies. Due to CalSTRS being a mature pension fund with negative cash flows, tighter cash management with efficient rebalancing and total fund management are increasingly important to fund performance. The ISR team focuses on the longer-term asset liability management and shorter-term tactical fund positioning with risk budgeting.

Under the general direction of the Portfolio Manager, the Investment Officer III will recommend and implement investment strategies and policies that support the goals and objectives of the Innovative Strategies Portfolio. The incumbent is expected to perform the most complex duties requiring the highest degree of competence, independence, confidentiality, and discretionary judgement.

The ideal candidate will possess the following skills:

  • Knowledge of investment industry and various private asset investments
  • Ability to analyze private asset investments, including but not limited to cash flow modeling and investment pacing
  • Experience evaluating private equity or private credit co-investment or direct investment opportunities
  • Investment management experience with a financial institution, pension fund, endowment or foundation
  • Strong interpersonal skills with the ability to communicate effectively with individuals across a broad spectrum of disciplines and promote cross-functional collaboration efforts
  • Ability to organize research, summarize and convey complex concepts in a consistent, sensible and approachable manner without loss of technical integrity
  • CAIA (Chartered Alternative Investment Analyst), CAA (Chartered Asset Allocator), or CFA (Chartered Financial Analyst) designation preferred
  • Advanced Excel, PowerBI or R experience preferred

An incumbent who possesses a professional certification as a Chartered Asset Allocator (CAA) or Chartered Financial Analyst (CFA) designation may receive a 5% monthly base pay differential.


Every 12 months, based on performance evaluation, employees may receive a 5% salary increase until they reach the maximum salary for the position.

Does this opportunity seem right for you? If so, see the Application Instructions section below and apply now.

You will find additional information about the job in the Duty Statement.