Deputy Chief Investment Officer

Deputy Chief Investment Officer

Penn Center - Denver, CO 80203

Overview

Salary Range $335,000.00 - $415,000.00 Salary Level Management Position Type Full Time

Deputy Chief Investment Officer

Summary of Job Responsibilities

The Deputy Chief Investment Officer (Deputy CIO) is responsible for leadership and oversight of Colorado PERA's private market investments program, including Private Equity, Real Estate, and Alternatives asset classes. This role partners closely with the Chief Investment Officer to implement total fund strategy, with primary responsibility for driving strategy execution within private markets, ensuring strong investment outcomes, disciplined portfolio governance and construction, and effective integration with the broader total fund.

The Deputy CIO also works in close coordination with the Investment Operating Officer, who oversees the business and operational platforms supporting investments. Together, these roles ensure both investment excellence and operational execution.

IDEAL CANDIDATE

The ideal candidate is a strategic and collaborative investment leader who brings deep private markets expertise, strong fiduciary judgment, and a proven ability to lead high-performing teams in a complex institutional environment. This person will be energized by the opportunity to shape long-term investment strategy, partner closely with the Chief Investment Officer, and help strengthen Colorado PERA's investment program through thoughtful decision-making, clear communication, and disciplined execution. The strongest candidates will combine technical credibility across private equity, real estate, and alternatives with sound leadership instincts, a commitment to integrity and accountability, and the ability to build trusted relationships with colleagues, investment partners, consultants, and Board stakeholders.

Essential Duties and Responsibilities

Employees are held accountable for all duties of the job. Individuals must be able to perform these duties with or without reasonable accommodations.

• Provides senior leadership and oversight of PERA's private market investment program, including Private Equity, Real Estate and Alternatives asset classes
• Develops, in conjunction with asset class leadership, private markets investment strategies designed to achieve long-term return objectives within approved risk parameters
• Ensures alignment with total fund objectives, liquidity needs, and risk tolerances; collaborates with the CIO on asset allocation and strategic positioning
• Serves as a key member of the Investment leadership team and, in partnership with the CIO, helps shape the long-term vision, strategy, governance, culture, and performance of the Investment department
• Monitors legal, regulatory, and policy developments affecting public pensions systems and evaluates potential implications for investment strategy, portfolio management, governance, and fiduciary responsibilities
• Provides leadership and oversight of private markets teams and senior investment professionals; responsible for performance evaluation of direct reports
• Depending on organizational structure and business needs, may directly lead one private market asset class and assume corresponding investment and team leadership responsibilities
• Exercises significant discretion and judgment in private market investment, portfolio construction, manager selection, and commitment decisions within established governance and delegated authority frameworks
• Supports organizational resiliency through recruitment and succession planning within private markets; develops and mentors staff, building long-term institutional capability
• Establishes clear accountability, decision-making frameworks, and investment processes
• Partners with the CIO and investment leadership to identify, assess, and manage portfolio, liquidity, concentration, operational, and governance risks
• Ensures compliance with investment policies and governance standards
• Oversees the development and review of applicable materials for the Board and Investment Committee, serving as a subject matter expert for private markets in Board discussions
• Acts as the investment department liaison for the Defined Contribution Plans, participating on the Defined Contribution Committee, and contributing to the oversight of manager selection and evaluation activities in the Plans
• Partners with the Investment Operating Officer to align private market investment strategy execution with capital activity, scalable operational processes, and data integrity, reporting, and performance measurement
• Provides input on systems, resources, and infrastructure enhancements to support investment systems modernization and long-term operational success
• Maintains awareness of market developments, trends, and best practices in private markets
• Supports the CIO and represents the investment program with investment managers, industry organizations, peer institutions, consultants, and other external stakeholders, as appropriate
• Oversees development of and adherence to responsible divisions' budgets and ensures goals are met within designated time frames
• Carries out other duties as assigned

Job Qualifications

• Bachelor's degree required. MBA, CFA, and/or CAIA designations preferred
• Ten+ years experience in managing investment portfolios, with a demonstrated track record of success, with substantial experience in alternative/private markets
• Five years experience managing a diverse group of investment professionals
• Public pension fund experience desirable
• Experience working with a Board of Trustees desirable
• Experience leveraging AI tools to enhance productivity and efficiency, proactively identifying opportunities to apply emerging technologies that improve workflows and outcomes
• Requires a high level of ethics and demonstrated commitment to accountability
• Experience working with internal and external investment managers
• Effective and persuasive oral and written communication, presentation, and negotiation skills
• Visionary capabilities related to investments and strategic planning

Working Conditions

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.

• Standard office environment with frequent telephone communication, computer operation, and other office productivity machinery, such as a copy and printer machine.
• Occasional moving and positioning supplies in excess of 20 pounds
• All employees are expected to present themselves in a professional manner in alignment with the financial services industry
• Ability to sit for prolonged periods of time
• Ability to operate standard PC equipment
• Ability to manage frequent deadlines and tight schedules
• Ability to travel as necessary

Hybrid Work Option

• Opportunity to work from home up to two days per week. Eligibility dependent upon factors detailed in PERA's Work from Home Policy.

Colorado Public Employees' Retirement Association