Job Description

The Chief Investment Officer (CIO) is responsible for overseeing the investment and management of the City and County’s $16+ billion Treasurer’s Investment Pool, ensuring compliance with legal and fiduciary obligations while maximizing returns within risk parameters. The CIO manages and implements an asset/liability investment strategy with a focus of matching asset maturities to know portfolio outflows within the maximum asset maturity limit of 5 years per the California Investment code, monitors and oversees the Treasurer’s Investment Pool cashflow profile and cash forecasting models, monitors market conditions, and ensures the safety, liquidity, and performance of portfolio funds in alignment with statutory requirements and the City and County’s investment policies.

** Essential Duties and Responsibilities**

Investment Strategy & Management

• Maintain and execute an investment strategy of asset/liability management that aligns with the City & County’s investment mandates of safety of principal, liquidity needs, and risk tolerance.
• Manage a diversified portfolio, ensuring prudent asset allocation and risk management.
• Monitor market conditions, interest rate trends, and economic indicators to make informed investment decisions consistent with the asset/liability strategy as well as consideration of their impact on the City and County’s cashflow profile and potential changes to liquidity needs.
• Develop and maintain the Treasurer’s Investment Pool cashflow profile and five-year cash forecasting models using historical data as well as information provided by the various Pool participants.
• Manage the Pool’s duration/average maturity consistent with its liquidity needs through utilization of the duration optimization methodology.
• Conduct performance analysis and identify potential opportunities to optimize portfolio returns while maintaining the asset/liability strategy and minimizing overall portfolio risk.
• Maintain applicable securities broker and dealer relationships to affect efficient securities trade execution defined as lowest cost as well as ensuring proper and adequate coverage of the fixed income markets.
• Understand trading costs and employ a trading strategy consistent with trade and portfolio size in achieving best execution of lowest cost to the City and County.
• Provide expert knowledge to other City agencies, including the investment of funds outside of the City’s Pool for other City departments on projects involving investment services.

Governance, Compliance & Risk Management

• Ensure investments comply with federal, state, and local laws governing public funds, as well as the internal investment policies of the City and County.
• Maintain fiduciary oversight of treasury investments, upholding ethical and legal obligations.
• Prepare and present investment reports to the City and County’s Credit and Investment Committee, Treasury Oversight Committee, the Board of Supervisors, and the Pool’s participants as requested.
• Develop and maintain the City and County’s investment policies and procedures for investment risk management, including credit, liquidity, and market risks.
• Advise the Investment and Credit Committee of any events or development that potentially may impact the Pool’s liquidity needs and threats to maintaining safety of the Pool’s principal.

Stakeholder Communication & Reporting

• Provide regular updates on portfolio performance, market conditions, and an explanation of the investment strategy to participants of the Pool.
• Collaborate with auditors, legal advisors, and financial consultants to ensure transparency and regulatory compliance.
• Present investment recommendations and risk assessments to government boards and committees.
• Ensure the timeliness and accuracy of the various reports necessary for audit purposes, pool participant requests, and GASB requirements.

Leadership & Team Management

• Foster relationships with external financial institutions, investment advisors, and banking partners.
• Lead the development of technology and systems to enhance investment monitoring and reporting.
• Direct activities of staff: delegating transaction authority, preparing investment management reports, investment analysis, credit research, including promotion of a team environment and staff development (e.g., directs cross-training).
• Consult with various stakeholders (City and County representatives, outside governmental agencies, banking institutions, rating agencies, and investment brokerage firms) in connection with investment policies, pooled portfolio treasury management services, financial issues, and technology or system changes and improvements.
• Manage contracts and negotiate with vendors; partner with external financial management consultants.
• Serve as a leader in the field of managing public funds and an active member in the various professional educational organizations pertaining to the management of public funds.

Ideal Experience

• Chartered Financial Analyst (CFA), Certified Treasury Professional (CTP), or equivalent designation preferred.
• Experience in buy-side investment management of short duration fixed income portfolios.
• Experience investing within the mandates outlined in the California Investment Code of safety of principal, liquidity and then achieving a market rate of return.
• Strong knowledge of public fund investment laws, fixed-income markets, and risk management practices.
• Proven track record of managing large investment portfolios in a fiduciary capacity.
• Extensive expertise in trading fixed-income securities, money markets, and public sector investment vehicles, to include use of electronic trading platforms.
• Strong analytical and decision-making abilities.
• Excellent communication and presentation skills.
• High ethical standards and fiduciary responsibility awareness.
• Proven managerial ability to partner with treasury executive team and peers; direct investment staff and delegate authority.
• Strong communicator and ability to maintain effective broker-dealer relationships.
• Experience in portfolio analysis, risk management, cash-flow forecasting, and modeling.
• Knowledge of industry regulations, policy and best practices.
• Knowledge of investment management systems, technology, and controls.
• Experience in vendor/contract negotiation/management.

Qualifications

** MINIMUM QUALIFICATIONS**

Education: Possession of a baccalaureate degree in economics, finance, business administration, or related field from an accredited college or university; AND

Experience: Six (6) years of progressive management and buy-side experience in the management of short duration fixed income portfolios. Buy-side experience should include: asset/liability matching portfolio strategy; understanding of the mandates for managing public funds and fixed income markets; trading fixed income securities using electronic trading platforms; management of trading costs; capital market and economic trends and conditions impact on portfolio liquidity needs; and cash flow modeling.

All six (6) years of this experience must include supervising a team of professionals.

Verification
Applicants may be required to submit verification of qualifying education and experience at any point during the recruitment and selection process. If education verification is required, information on how to verify education requirements, including verifying foreign education credits or degree equivalency, can be found at https://sfdhr.org/how-verify-education-requirements.

Note: Falsifying one’s education, training, or work experience or attempted deception on the application may result in disqualification for this and future job opportunities with the City and County of San Francisco.

All work experience, education, training, and other information substantiating how you meet the minimum qualifications must be included on your SmartRecruiters application by the filing deadline. Information must be entered into the SmartRecruiters applicant tracking system under the headings for Experience and Education. Leaving these sections blank and attaching a resume in lieu of completing the Experience and Education sections may cause your application to be rejected.

Resumes will not be accepted in lieu of a completed City and County of San Francisco application.

Applications completed improperly may be cause for ineligibility or disqualification.

SELECTION PROCEDURES:
After application submission, candidates deemed qualified must complete all subsequent steps to advance in this selection process, which includes the following:

The selection process will include evaluation of applications in relation to minimum requirements. Applicants meeting the minimum qualifications are not guaranteed advancement to an interview. Depending on the number of applicants, the Department may establish and implement additional screening mechanisms to comparatively evaluate the qualifications of candidates. If this becomes necessary, only those applicants whose qualifications most closely meet the needs of the Department will be invited for an interview.

• Note: Applicants who meet the minimum qualifications are not guaranteed to advance through all of the steps in the selection process.

Additional Information

Additional Information Regarding Employment with the City and County of San Francisco:

• Information About the Hiring Process
• Conviction History
• Employee Benefits Overview
• Equal Employment Opportunity
• Disaster Service Worker
• ADA Accommodation
• Right to Work
• Copies of Application Documents
• Diversity Statement

HOW TO APPLY:
Applications for City and County of San Francisco jobs are only accepted through an online process. Visit https://careers.sf.gov/ and begin the application process.

• Select the “Apply Now" button and follow instructions on the screen

Applicants may be contacted by email about this recruitment and, therefore, it is their responsibility to ensure that their registered email address is accurate and kept up-to-date. Also, applicants must ensure that email from CCSF is not blocked on their computer by a spam filter. To prevent blocking, applicants should set up their email to accept CCSF mail from the following addresses (@sfgov.org, @sfdpw.org, @sfport.com, @flysfo.com, @sfwater.org, @sfdph.org, @asianart.org, @sfmta.com, @sfpl.org, @dcyf.org, @first5sf.org, @famsf.org, @ccsf.edu, @smartalerts.info, and @smartrecruiters.com).

Applicants will receive a confirmation email that their online application has been received in response to every announcement for which they file. Applicants should retain this confirmation email for their records. Failure to receive this email means that the online application was not submitted or received.

Recruitment Analyst Information: If you have any questions regarding this recruitment or application process, please contact, Eric Louie at eric.j.louie@sfgov.org.

All your information will be kept confidential according to EEO guidelines.

The City and County of San Francisco encourages women, minorities and persons with disabilities to apply. Applicants will be considered regardless of their sex, race, age, religion, color, national origin, ancestry, physical disability, mental disability, medical condition (associated with cancer, a history of cancer, or genetic characteristics), HIV/AIDS status, genetic information, marital status, sexual orientation, gender, gender identity, gender expression, military and veteran status, or other protected category under the law.