The New York City Retirement Systems is seeking to hire a chief risk officer, according to a posting on the website of Scott Stringer, the city comptroller and fiduciary for the five plans within the $211.5 billion retirement system.
Miles Draycott, the incumbent chief risk officer, was hired in February 2015 as the first person to hold the job, which includes planning and implementing risk strategy, evaluating external investment managers and monitoring financial and enterprise risk.
Hazel Crampton-Hays, a spokeswoman for Mr. Stringer, declined in an email to comment on the reasons for — or the timetable of — Mr. Draycott's impending departure.
"The Bureau of Asset Management is committed to ensuring accountability, transparency and sound risk management,' wrote Ms. Crampton-Hays, referring to the department in the comptroller's office that is responsible for the oversight of the pension system's investments. "We decline comment on pending personnel changes."
The job notice didn't identify when the job would be filled or when the application period would end.
The notice described the job as "reporting to the comptroller and working with the chief investment officer" to, among other duties, analyze portfolio risks, identify risks within existing pension system investments "that require remediation," and "participate in the review of asset allocation, portfolio rebalancing and other investment functions."