The New York City comptroller’s office is looking for a deputy chief investment officer to be in charge of the New York City Retirement Systems’ economically targeted investment program and have oversight over the diverse and emerging managers and brokerage programs.
The job listing is available on the website of Brad Lander, the comptroller and fiduciary of the five independent pension funds in the $274.4 billion city retirement system. Applications are due by Nov. 20.
The deputy CIO will report to CIO Steven Meier and become part of the senior leadership team at the bureau of asset management, which handles investments for the pension system.
The deputy CIO also will have oversight “over the broader ESG program,” including corporate governance and ESG due diligence,” the job listing said.
The pension system is authorized to devote 2% of the total assets, or up to $5.4 billion this year, for economically targeted investments, defined by the job listing as “investments that return an appropriate risk-adjusted rate of return while also creating collateral benefits for the residents of New York City and its surrounding counties.”
The pension system has operated this program, “focused largely on affordable housing, for many years,” the job listing said. The goal is to “invigorate and expand this work through targeted investments in affordable housing, green investments, small business lending, and more,” it said.
The pension system’s diverse and emerging managers program is now responsible for 12.7% of total assets, a percentage that Lander hopes to increase to 20% by 2029, the job listing said.
The deputy CIO will oversee the work by Taffi Ayodele, director of the diverse and emerging managers program, and work with executives of the various asset classes in the bureau of asset management to identify diverse and emerging managers, the job listing said.
