Chief Investment Officer (CIO) - Office of the Treasurer & Tax Collector (0953)

City and County of San Francisco•San Francisco, CA

1d•$200,538 - $296,322•Onsite

About The Position

The Chief Investment Officer (CIO) is responsible for overseeing the investment and management of the City and County’s $19+ 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.

Requirements

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

Nice To Haves

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.

Responsibilities

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.
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.
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.
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.