Head of Securitized and Rates, Global Fixed Income

Equal Opportunity Employer The State of California is an equal opportunity employer to all, regardless of age, ancestry, color, disability (mental and physical), exercising the right to family care and medical leave, gender, gender expression, gender identity, genetic information, marital status, medical condition, military or veteran status, national origin, political affiliation, race, religious creed, sex (includes pregnancy, childbirth, breastfeeding and related medical conditions), and sexual orientation. Equal Opportunity Employer The State of California is an equal opportunity employer to all, regardless of age, ancestry, color, disability (mental and physical), exercising the right to family care and medical leave, gender, gender expression, gender identity, genetic information, marital status, medical condition, military or veteran status, national origin, political affiliation, race, religious creed, sex (includes pregnancy, childbirth, breastfeeding and related medical conditions), and sexual orientation. It is an objective of the State of California to achieve a drug-free work place. Any applicant for state employment will be expected to behave in accordance with this objective because the use of illegal drugs is inconsistent with the law of the State, the rules governing Civil Service, and the special trust placed in public servants. Position Details Job Code #: JC-529023 Position #: 275-630-4638-002 Working Title: Head of Securitized and Rates, Global Fixed Income Classification: INVESTMENT DIRECTOR, PUBLIC EMPLOYEES' RETIREMENT SYSTEM Salary: $20,062.50 - $33,437.50 New to State candidates will be hired into the minimum salary of the classification or minimum of alternate range when applicable. # of Positions: 1 Work Location: Sacramento County Telework: Hybrid Job Type: Permanent, Full Time Department Information California Public Employees’ Retirement System (CalPERS) is a global institutional investor and the nation’s largest public pension fund, with assets of approximately $656.35 billion as of August 18, 2026. Headquartered in downtown Sacramento, we are a destination employer with an international reputation for leadership and innovation. At CalPERS, we’re committed to people – the people we serve, our team members, and the larger community around us. CalPERS is situated near the Napa Valley, San Francisco, Lake Tahoe, and other desirable destinations, and we offer competitive benefit packages, compensation, and opportunities for advancement. Our people are deeply committed to our Mission & Vision, and their decisions and actions are guided by our Investment Beliefs. If you are interested in becoming part of a diverse and inclusive workforce where talent, experience, and expertise are valued, CalPERS invites you to apply for this employment opportunity. To find out more about our Diversity, Equity, and Inclusion efforts, visit our website! To take a look at CalPERS as a destination employer, view this YouTube video. Job Description And Duties Anticipated Interview Dates: We anticipate holding virtual interviews two to three weeks after the final filing date. We look forward to meeting with you! Duties May Include, But Are Not Limited To: Lead the management of the Public Employees’ Retirement Fund’s securitized and rates portfolios, with responsibility for portfolio strategy, performance, and risk oversight. Direct investment activity across agency mortgage-backed securities (MBS), securitized credit, and rates strategies involving a broad range of security types, including U.S. Treasuries, agency and non-agency MBS, CMOs, CMBS, CLOs, ABS, home equity loans, and hybrid ARMs. Serve as a senior leader within Global Fixed Income, contributing to asset allocation decisions and sector strategy for the unit. Provide regular market insights on securitized sectors, including supply and demand trends, relative value, volatility, swap market dynamics, and yield curve outlook. Evaluate relative value opportunities and risks to support portfolio construction and investment performance. Collaborate with internal stakeholders, including risk, research, and senior investment leadership, to support fund‑wide objectives. Mentor investment staff and help foster a high‑performing investment team. Telework Information: This position is eligible for a hybrid work schedule, with up to two days of remote work and three days or more onsite, per week. Sponsorship: CalPERS does not participate in E-Verify for employment authorization purposes. You will find additional information about the job in the Duty Statement. Special Requirements Minimum Qualifications All experience and education relating to the Minimum Qualifications (MQs) listed on the Classification Specification should be included in your application package to clearly demonstrate how you meet the MQs for this position. If you are using education to meet MQs, please include your transcripts with your application package. If you have a degree from outside of the United States, you must submit an evaluation of this degree to determine the US equivalency. If you need an evaluation, you can visit the National Association of Credential Evaluation Services (NACES) website to find organizations that provide these services. The Classification Specification is located on this Job Posting under "Minimum Requirements." Please Note: You may need to pass an examination to establish list eligibility prior to any type of job offer. To find and take an exam, visit CalHR’s CalCareers website. Career Services & Outreach Need help with your state application, resume, Statement of Qualifications, or interview preparation? The CalPERS Career Services & Outreach (CSO) team provides comprehensive support throughout the CalPERS hiring process. Our services include one‑on‑one online consultations for application assistance, Statement of Qualifications review, and interview preparation. To schedule an appointment and receive personalized guidance from our team, please use the following booking link: CalPERS Career Services Consultations. #J-18808-Ljbffr CalPERS