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Type of Role: Investments

Experience Level: VP/Principal/Director

Location: Sacramento , California

Salary: $172K - $258K

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.

This position is eligible for incentive compensation and has a maximum incentive opportunity of 125% of base salary.
The CalSTRS Investments Branch is seeking an experienced individual to work as a Portfolio Manager on the Sustainable Investment & Stewardship Strategies (SISS) team.
The Sustainable Investment & Stewardship Strategies (SISS) unit was initially established in 1978 to protect assets through good governance and operational accountability. Today the unit focuses on three primary strategies: managing a portfolio of sustainability-themed investments across public and private markets that are additive to the Total Fund; leading CalSTRS stewardship activities focused on corporate engagement and proxy voting; and supporting strategic relationships with CalSTRS members and partners. The SISS unit also leads multiple efforts across the Investments Branch, including the Net Zero Portfolio Emissions Strategy, which includes reducing financed emissions, increasing investment in low-carbon solutions, and using CalSTRS influence to accelerate the transition to a net zero global economy.

Under the direction of the Senior Portfolio Manager (SPM) of Sustainable Investment & Stewardship Strategies (SISS), the Portfolio Manager (PM) manages and provides a high level of expertise and leadership to the SISS team and Investment Branch. This position provides expert knowledge, analysis and research that supports the CalSTRS Stewardship Program, the SISS Public and Private Portfolios and provides critical subject matter expertise on a wide variety of sustainability considerations affecting the CalSTRS fund, with a focus on the net zero transition.

The ideal candidate will possess the following skills:
  • Strong understanding of market trends, ability to research and provide analysis based on organization’s needs
  • Demonstrated commitment to creating and sustaining a diverse, inclusive and equitable workplace.
  • Strong connections within the sustainable investment industry with peers and partners.
  • Ability to manage and build new strategic relationships and partnerships.
  • Ability to foster diversity and inclusion while empowering a team to achieve professional growth and business objectives.
  • Ability to collaborate with CalSTRS senior management to implement Investment Branch strategic initiatives.
  • Ability to work cross functionally with other CalSTRS business areas and asset classes.
  • Ability to work independently, as well as a member of a team.
  • Ability to build and maintain relationships with internal employees and external parties.
  • Ability to adapt to changes in priorities, assignments, and other interruptions which may impact pre-established timelines and courses of action.
  • Ability to demonstrate a high degree of initiative, professionalism, confidentiality, and ability to work well under pressure in a fast-paced environment.
  • Excellent written and verbal communication, attention to detail, and organizational skills.
An incumbent who possesses a professional certification in one of the following designations: Chartered Financial Analyst (CFA), Certified Commercial Investment Member (CCIM), Financial Risk Manager (FRM), Certified Investment Management Analyst (CIMA) or Chartered Alternative Investment Analysts (CAIA) may receive a 5% monthly base pay differential. Only one 5% base pay differential is eligible regardless of the number of certifications.
Relocation benefits may be available.

ESSENTIAL FUNCTIONS

Provide research and fundamental analysis that assists CalSTRS net zero investment strategy, including the Stewardship Program, the SISS Public and Private Portfolios and the CalSTRS Total Fund priorities. Contribute analysis and research supporting CalSTRS net zero action plan to reduce portfolio emissions and manage emissions-related investment risks. Provide subject matter expertise and financial analysis for investments in low-carbon solutions.

Collaborate with the SPM and PM leading CalSTRS Stewardship Program to support the objectives of CalSTRS Stewardship Priorities with a focus on fundamental analysis relating to the transition to a low-carbon economy, CalSTRS net zero portfolio emissions commitments, and net zero trends relating to corporate engagement. This includes, serving as a lead when engaging portfolio companies to promote sustainable business practices that drive and support long-term value creation.

Manage the building of strategic relationships and the development of partnerships with aligned interests to advance CalSTRS goals and strategic priorities by serving as a catalyst to the investment management marketplace.

Maintain professional contacts in the investment industry, with peers, partners and industry analysts and represent CalSTRS on advisory bodies, investment forums and regulatory forums on sustainability issues affecting the investment portfolio.

Leads as the subject matter expert to other investment staff on net zero-related strategies and industry-wide developments. Mentor, train and guide investment staff on fundamental analysis that supports CalSTRS’ progress toward net zero goals. As needed, supervise staff and participate in the personnel processes including recruitment, hiring, training, in accordance with CalSTRS practices and State Personnel Board laws, regulations and policies and procedures. This includes but is not limited to, mentoring and developing staff.

Support the SISS Director and collaborate with the SISS leadership team in overseeing the SISS team’s strategy across its three primary areas of activity: Investment Portfolio, Stewardship and Strategic Relations and in supporting the Investment Branch’s strategic priorities: The Path to Net Zero, Diversity in Investment Management and the Collaborative Model.

MARGINAL FUNCTIONS
Serve as a senior manager representative for the SISS team, organization-wide forums and project teams. Act on behalf of the Director SISS, in his/her absence.
COMPETENCIES
Core Competencies. All employees are responsible for understanding and demonstrating CalSTRS’ core competencies:
• Adaptability/Flexibility
• Communication
• Customer/Client Focus
• Teamwork
• Work Standards/Quality Orientation
Classification Competencies. All employees are expected to understand and demonstrate their position’s CalSTRS class competencies:
• Adaptability and Change Leadership
• Investment Focus and Component Performance
• Communication, Negotiation and Relationship Development
• Teamwork and Team leadership
• Quality Work Standards and Initiative
• Ethical Decision Making and Risk Management
• Strategic Thinking and Implementation
• Investment Landscape and Organizational AwarenessCONDUCT AND ATTENDANCE EXPECTATIONS
• Communicate effectively with individuals from varied experiences, perspectives and backgrounds
• Deal with individuals in a tactful, congenial, personable manner
• Must maintain consistent and regular attendance
• Adhere to CalSTRS policies and procedures
• Ability to support and model CalSTRS Core Values