City of Milwaukee Employes' Retirement System began seeking applications for a CIO, according to a posting Wednesday on the city's website.
The retirement system, which oversees $4.5 billion, seeks a successor to Thomas Rick, who died May 13. It is not using an executive recruiting firm.
Qualifications for the position include “five years of progressively responsible experience in analyzing investment and financial information” as well as a master's degree in accounting, finance, business administration, or a related field, or a comparable combination of experience and education, the posting states.
The position's pay ranges between $101,294 and $141,815, according to the posting.
Applications, due July 19, should be sent to Jerry Allen, executive director, CMERS, City of Milwaukee, 798 N Water St., Suite 300, Milwaukee, WI 53202.
CMERS could extend the due date depending on the responses, Mr. Allen said in an interview.
“It's a big job,” he said of the CIO position. “It's about people, money and ideas. What could be more rewarding than that in terms of fulfillment?”
David Silber, a CMERS investment analyst who was named temporary acting chief investment officer in May, is a potential candidate, Mr. Allen said.
“He has to apply” like any other candidate, Mr. Allen said, adding the board will consider all candidates fairly.
CMERS hopes to fill the position by September.