Chief Investment Officer

Company:Arizona Public Safety Personnel Retirement System

Exempt Position

The Chief Investment Officer (CIO), who reports to the Administrator, is responsible for the Systemís investments, leading the development and implementation of the Trustís investment policies and strategies and working in close partnership with the Investment Committee of the Board of Trustees. As such, the CIO will evaluate and propose modifications to the existing investment strategy and asset allocation, identify research and propose investment managers, hire and manage an investment team, and drive investment performance. In addition to these roles, the CIOís responsibilities also encompass those of a Lead Portfolio Manager, with primary responsibility for major asset classes. Subject to the supervision of the Administrator and Board of Trustees, the specific duties of the CIO include:


- Management of all trust assets for all of the Systemís pension plans, as well as the Firefighters Cancer Insurance Fund
- Serve as senior investment executive, a fiduciary, and expert in all aspects of investments
- Serve as key member of the PSPRS executive team and as the primary staff expert and point of coordination for the PSPRS Investment Team and ensure efficient operation
- Direct ongoing research, review, and oversight for multi asset-class portfolio
- Maintain awareness of trends and events impacting the institutional investment field
- Provide effective input to the development and maintenance of guiding documents including the strategic plan, budget documents, and policy and process statements
- Attend meetings of the Investment Committee and Board of Trustees as required
- Act as liaison to the investment community; informing and advising the Administrator and Trustees on financial, economic, and political developments that may affect the System.
- In coordination with the Administrator, attend necessary meetings with state legislators
- Attend educational seminars and conferences
- Supervise Investment Officers and related support staff
- Recommend position classifications, hire and discipline staff, complete performance evaluations on an annual basis, approve leave and travel requests
- Assign work and special projects
- Develop detailed budget for the Investment Department
- In concert with Chief of Staff, develop and implement training and professional development plans for investment staff
- Assist the Administrator as needed.


- Create and implement the portfolio mix in accordance with the Investment Guidelines, Statement of Investment Policy, and Fund Objective and directives promulgated by the Board of Trustees
- Act for the PSPRS Board of Trustees as directed in authorizing, conducting and directing investments of trust assets.
- Evaluate and review asset allocation, risk budget, investment strategy on an ongoing basis to ensure optimal performance
- Direct Investment Manager searches and ensure qualified candidates are selected
- Oversee investment contract negotiations
-Oversee investment manager performance and compliance including taking/or recommending any corrective action
- Meet regularly with Investment Staff to discuss trends within asset-classes and discuss manager performance
- Provide investment performance summaries to Board of Trustees and other important stakeholders
- Represent the system through speaking engagements both within and outside Arizona
- When directed, respond to public information requests from the media
- Develop and present sound investment policy recommendations with investment consultants
- Assist the board in establishing investment policies consistent with fiduciary standards
- Assure the Board is provided with substantive reports on portfolio performance, manager performance, and information related to the Board agenda in a timely manner
- Assure quality and timeliness of materials provided to the Board
- Manage Board meeting schedule, including emergency meetings

As Lead Portfolio Manager

- Identify key technical and fundamental trends within asset classes, making appropriate recommendations to the Investment Staff as necessary
- Review qualitative and quantitative data regarding portfolio performance, risk structure and operations
- Together with the Trustís Specialty Consultant, review investment opportunities, including fund commitments, direct investments, co-investments and other strategic and/or tactical positions and make necessary recommendations to Investment Staff
- Formally review all external relationships on a quarterly basis, informing the Investment Staff of material developments
- Compile, assemble, and summarize various data, metrics, market information, industry analysis, economic analysis (macro-micro) concerning the Fundís investments and prospective investments and present such along with conclusions and recommendations, in an accurate, articulate and efficient fashion to Senior Staff and others as directed

Knowledge of:
1. Advanced portfolio theory and its applications to a globally diversified portfolio
2. Asset types and their characteristics
3. Principles of diversification across liquid and illiquid markets
4. Intermediate to Advanced Statistical processes
5. Macroeconomic trends and the potential impact on major asset classes
6. Working knowledge of derivatives, including; options, swaps, futures, and forwards
7. Institutional best practices in fund manager underwriting, monitoring and reporting
8. Alternative asset classes such as Hedge and Private Equity funds
9. Defined Benefit Plans and related legislation

Skills in:

1. Portfolio Optimization
2. Risk Management
3. Strategic Asset Allocation
4. Statistical Analysis
5. Alternative Asset Class due diligence
6. Direct Investing
7. Executive Leadership/Management
8. Drafting and reviewing investment communications, including investment policies

Ability to:

1. Synthesize and distill complex information into actionable information
2. Communicate relevant portfolio matters to key constituent groups orally and in writing
3. Work in a fluid and changing environment that is highly scrutinized
4. Provide strategic direction for multi-class portfolio
5. Be an outstanding team player and team leader with high levels of intellect and energy
6. Represent the Trust within the public and investment community

Minimum Qualifications:

Bachelorís degree from an accredited college or university in finance, economics, business or related field and 10 years of progressively higher full-time experience in investment management with broad asset class exposure.

Preferred Qualifications:

Advanced degree from an accredited college or university and/or CFA, CAIA, FRM or other related industry licensures and certifications. Experience managing multiple disparate asset classes at public pension funds. Proven track record of leading high-performing teams.

For more information or to apply, please contact:
Patricia Shaner, Human Resources Director
602-255-5575 extension 2020

PSPRS is an Equal Opportunity Employer