Associate Investment Manager
CalPERS
Location: Sacramento, California
The California Public Employees’ Retirement System (CalPERS) is a global institutional investor and the nation’s largest public pension fund, with assets under management of approximately $450 billion as of August 31, 2022. Headquartered in downtown Sacramento, we are a destination employer with an international reputation for leadership and innovation. CalPERS invests globally in all major asset classes, including public equities, fixed income, real assets, infrastructure, private equity, venture capital and private debt. The CalPERS Investment Office (INVO), and its 250 investment professionals, manages approximately 70% of assets internally, while the other 30% is allocated to external investment managers. More information about CalPERS may be found at http://www.calpers.ca.gov.
We are looking for an Associate Investment Manager in our Investment Controls & Operational Risk (ICOR) Division. ICOR has three divisions: Investment Advisory Compliance, Investment Portfolio Compliance, and Operational Due Diligence. While CalPERS is not directly regulated by the SEC, FINRA, or the CFTC, ICOR is structured and staffed with professionals who have worked in regulated environments with the expectation that ICOR implement asset management best practices tailored to INVO’s business model.
We are seeking a generalist investment compliance manager with around 8-12 years’ experience in a large asset manager, preferably with both public and private markets background. Specific duties can be tailored to the successful candidate’s background.
Significant duties of the Associate Investment Manager (Investment Advisory Compliance) are:
Maintenance of the INVO Compliance Program, including development of policies and procedures and surveillance to prevent and detect violations of policies, rules, laws and regulations as well as illegal, unethical, or improper conduct involving conflicts of interest
Monitoring and implementation of global, federal, state, and local laws, regulations, and other legal guidance specific to the Investment Office’s operations and providing advice and guidance thereon
Responding to and assessing reports of operational or trading errors, evaluation of the severity of each event and working with staff at all levels to resolve, promptly escalating material events to Senior Management as needed, and providing periodic reports on significant events and resolution thereof
Assisting with the implementation and oversight of the CalPERS Statement of Investment Policy for Insider Trading
Leading development and delivery of INVO Annual Compliance Training
Compensation and benefits:
Base pay of $109,500 to $182,500, plus annual incentive compensation and long-term incentive compensation
Hybrid work schedule (up to two days remote work)
CalPERS’ campus features onsite childcare, fitness center, and cafeteria
Benefits package including:
Paid leave benefits of approximately 5 weeks plus 11 holidays annually
Health, dental, vision, life, and long-term disability insurance
Access to both a 401(k) and 457(b) retirement plan
Pension vesting after five years
Retiree health insurance vesting after 15 years
Apply here by November 7.
For questions, please reach out to Brian McQuade (brian.mcquade@calpers.ca.gov) or Amy Deming (amy.deming@calpers.ca.gov)