About the Department

The City of San José, the Capital of Silicon Valley, is one of the nation’s best managed cities and one of the top ten cities in which to live, work, and do business. Moreover, San José is the center of cultural, government, and economic activity for the region. The employees of the City of San José have embraced the following values: Integrity, Innovation, Excellence, Collaboration, Respect, and Celebration.

The mission of the Office of Retirement Services(ORS)is to deliver accurate and timely retirement benefits and services while prudently managing the assets entrusted to us with integrity, accountability, and a long-term vision.

Position Duties

The salary range for the Deputy Chief Investment Officer classification is $236,250.04 - $314,999.88 paid annually. This salary range includes an approximate five percent (5%) ongoing non-pensionable compensation pay.

The Office of Retirement Services is seeking an exceptionally talented, strategic, and collaborative investment executive to serve as Deputy Chief Investment Officer (DCIO). The DCIO will assist the Chief Investment Officer (CIO) in the administration and leadership of the Investment Division, act on behalf of the CIO in the CIO’s absence, and will play a critical role in supporting the management of the retirement portfolios for the Federated City Employees’ Retirement System and the Police and Fire Department Retirement Plan.

Under administrative direction of the CIO, the DCIO will provide executive leadership and operational oversight for the Investment Team and Investment Operations Team. The DCIO will support implementation of investment strategies, governance initiatives, compliance oversight, portfolio monitoring, risk management, and operational excellence across the division.

The DCIO will report directly to the Chief Investment Officer and will oversee the following direct reports:

• Senior Investment Officer (1)
• Investment Officers (3)
• Investment Analysts (2)
• Investment Operations Supervisor (1)
• Financial Analyst (1)
• Staff Specialist (1)

Responsibilities include, but are not limited to:

• Assist the CIO in planning, developing, and executing long-term investment strategies for the City’s retirement systems.
• Direct and supervise investment and investment operations staff.
• Monitor investment portfolios, asset allocation targets, investment manager performance, and risk exposures.
• Provide strategic leadership on governance, fiduciary compliance, and investment policy implementation.
• Oversee investment operations, performance analytics, risk monitoring, and reporting processes.
• Coordinate strategic projects and cross-functional initiatives.
• Represent the Office of Retirement Services in meetings with consultants, investment managers, Retirement Boards, and City leadership.
• Assist with personnel administration, including recruitment, performance evaluations, staff development, and resource allocation.
• Ensure compliance with Investment Policy Statements, governance standards, and applicable regulations.
• Provide staff support to Retirement Boards and City Council as needed.

Minimum Qualifications

Education:
Bachelor’s Degree from an accredited college or university in Finance, Economics, Financial Engineering, Accounting, Business/Public Administration, or a related field.

Experience:
Six (6) years of progressively responsible senior-level leadership experience in investment management or financial operations in a public agency or a financial institution.

Acceptable Substitution:
A Master’s degree in a related field may substitute for one (1) year of required experience.

Form 700 Requirement:
This position requires disclosure of outside investments, real property interests, income, and business positions.

Other Qualifications

Possession of one or more of the following certifications is highly desirable:
• Chartered Financial Analyst (CFA)
• Chartered Alternative Investment Analyst (CAIA)

The ideal candidate will possess the following desirable qualifications:

• Experience overseeing institutional investment portfolios across multiple asset classes.
• Experience with pension fund governance, fiduciary oversight, and public retirement systems.
• Knowledge of investment operations, compliance, and risk management practices.
• Strong leadership and personnel management experience.
• Experience working with investment consultants, custodians, investment managers, and governing boards.

Competencies

Job Expertise – Demonstrates knowledge of and experience with applicable professional/technical principles and practices, Citywide and departmental procedures/policies and federal and state rules and regulations.

Knowledge of:

Public and private sector investment management practices and fiduciary responsibilities.

Multi-asset class portfolio construction, monitoring, and optimization.

Capital markets, economic indicators, risk modeling, and financial analysis.

Ability to:

Communicate investment concepts effectively to stakeholders, including board members, staff, and external partners.

Collaboration – Develops networks and builds alliances; engages in cross-functional activities.

Communication Skills - Effectively conveys information and expresses thoughts and facts clearly, orally and in writing; demonstrates effective use of listening skills; displays openness to other people's ideas and thoughts.

Decision Making -Identifies and understands issues, problems, and opportunities; uses effective approaches for choosing a course of action or developing appropriate solutions.

Fiscal Management – Understands the relationship of the budget and resources to the strategic plan; complies with administrative controls over funds, contracts, and procurements.

Leadership – Leads by example; demonstrates high ethical standards; remains visible and approachable and interacts with others on a regular basis; promotes a cooperative work environment, allowing others to learn from mistakes; provides motivational supports and direction.

Meeting Ethical Standards - When confronted with ethical dilemmas, acts in a way that reflects relevant law, policy and procedures, agency values, and personal values.

Planning – Acts to align own unit’s goals with the strategic direction of the organization; defines tasks and milestones to achieve objectives, while ensuring the optimal use of resources to meet those objectives.

Vision/Strategic Thinking - Support, promote, and ensure alignment with the organization’s vision and values. Understand how an organization must change in light of internal and external trends and influences. Builds a shared vision with others and influence others to translate vision to action.

Selection Process

The selection process will consist of an evaluation of the applicant’s training and experience based on the application and responses to job-specific questions. Applications that do not include a resume and cover letter in addition to responses to the supplemental questions will not be considered. Additional phases of the selection process will include interviews and other assessment methods.

If you have questions regarding the hiring process, please contact Eduardo Gonzalez at [email protected] If you have any questions regarding the position please contact Jay Kwon at [email protected].

Benefits

The City of San Jose offers a wide range of core health benefits including Medical, Dental, Vision, Employee Assistance Program, Life Insurance, Disability, and Savings Plans. Please visit the City's benefits page for detailed information on coverage, cost, and dependent coverage.

For information on the City’s Retirement Plan(pension for full-time employees), please visit the Office of Retirement Services website. You will be able to view information based on different Sworn/Federated job classification.

In additional to the benefits above, there is an additional perks site to explore further benefits of working for the City of San Jose like paid leave, educational reimbursements, and holiday pay are specific to the job classification and union membership.

Supplemental Questions

What is the highest level of education you have completed?

High School Diploma or the equivalent (GED)
College (1 to 29 semester units/ 1 to 44 quarter units)
College (30 to 59 semester units/ 45 to 89 quarter units)
College (60 to 89 semester units/ 90 to 134 quarter units)
College (90 to 119 semester units/ 135 to 179 quarter units)
College (120 or more semester units/ 180 or more quarter units)
Associate's Degree
Bachelor's Degree
Master's Degree
Doctoral Degree
Other
None of the above

If you have a Bachelor’s Degree or higher from an accredited college or university, please state the field of study and the issuing accredited college or university.

How many years of progressively responsible senior-level leadership experience in investment management or financial operations in a public agency or a financial institution do you have?

Please note: One year of Full-Time experience = 2080 hours.

Fewer than six (6) years
Six years or more

An acceptable substitution for one (1) year of the required experience is possession of a Master’s Degree in a relevant field. If you meet the acceptable substitution, please state the field of study and the issuing accredited college or university.

Please describe how your work experience aligns with the following desirable qualifications:

- Overseeing institutional investment portfolios across multiple asset classes,

- Pension fund governance, fiduciary oversight, and public retirement systems,

- investment operations, compliance, and risk management,

- Leadership and personnel management, and

- Working with investment consultants, custodians, investment managers, and governing boards.

Please explain a work-related example in which you led your team in constructing a solution to a complex problem.

Required Question

Agency Information

Employer: City of San Jose
Address: 200 E Santa Clara St

San Jose, California, 95113
Phone: (408) 535-1285
Website: https://www.sanjoseca.gov/

Retirement Deputy Chief Investment Officer- Office of Retirement Services