SFERS is searching for an accomplished investment executive to lead this $40 billion public retirement system as both CEO & CIO, a newly created position. The dual role was created so that the System’s top executive responsible for investments and all operations reports to the Board as the single point of accountability.
It’s an exciting opportunity for a leader with a strategic mindset and vision to shape the organization to become highly efficient and positioned to adapt quickly to changing operational and investment environments. The CEO & CIO will be expected to determine the optimal organizational structure for approval by the Board to support the new dual role model.
The CEO & CIO will be expected to lead and build upon current initiatives to transform the culture, modernize the operational infrastructure, improve organizational effectiveness, and strengthen stakeholder's and constituents’ relationships.
Qualifications and Experience
The Board is seeking a strategic, forward-thinking, and innovative leader who aligns to SFERS’ mission – “Dedicated to securing, protecting, and prudently investing the pension trust assets, administering mandated benefits programs, and providing promised benefits to the active and retired members of the City and County of San Francisco.”
An investment executive with broad asset class knowledge and institutional investment experience including significant experience in portfolio construction and asset allocation is required. Additional requirements and preferences include:
- Bachelor’s degree in finance, economics, or related field of business from an accredited institution.
- Minimum of seven years of experience in a senior investment role consulting on or managing or overseeing a complex institutional investment program.
- Minimum of eight years of managerial experience of which all must include supervisory.
- In-depth understanding of global economics and capital markets, investment strategies and vehicles, the principles and practices of institutional investing, investment operations, and investment policy development.
- Positive track record of investment performance.
- Positive track record of recruiting, hiring, and retaining top talent.
- An advocate for defined benefit plans.
- Advanced degree.
- CFA or CAIA.
- Experience investing in private markets and private partnership structures.
- Experience with a co-investment program.
- A transformational leader with accomplishments in:
- Restructuring a business to meet the changing needs to position it for the future.
- Implementing processes or system changes to improve operational efficiencies and customer service.
- Leading organizational cultural change.
- Familiarity with a defined contribution plan.
- Interacting with key political leaders and stakeholders and the media.
- An understanding of actuarial science and applications as related to pension plans.
Leadership Competencies and Characteristics
The CEO & CIO must be motivated to achieve greatness and a confident and inspiring communicator and leader. An executive who delegates authority and empowers people leading with a participative and collaborative style while establishing clear goals supported by accountabilities is desired. To achieve success, the ideal candidate must have the courage to make tough decisions, have candid conversations, and have the emotional intelligence to affect positive change.
The CEO & CIO must establish positive relationships with trustees and keep them apprised of major developments affecting the System. As the System’s top executive, the CEO & CIO must be a leader with superior social and interpersonal skills and be effective at building consensus and negotiating a compromise. In addition to being visible, approachable, and a good listener, other important skills and attributes include having:
- Effective political and diplomatic skills to manage key political and stakeholder relationships.
- Confidence to put forward ideas and recommendations while being open to adjusting them based on input from others.
- Commitment to embrace innovation, best practices, and change.
- Poise and presence to expertly represent SFERS.
This is a highly visible position, and the CEO & CIO must understand and respect the requirements of operating in a public environment.