Retirement Deputy Chief Investment Officer

Title and Salary

The Office of Retirement Services (ORS) is looking for a Deputy Chief Investment Officer (DCIO) to serve as the principal investment executive. The salary range for this position is $236,250.04 – $314,999.88 annually, with an anticipated five‑percent ongoing non‑pensionable compensation pay.

Position Overview

The DCIO assists the Chief Investment Officer (CIO) in administering the Investment Division, acts on behalf of the CIO in their absence, and supports the management of the retirement portfolios for the Federated City Employees’ Retirement System and the Police and Fire Department Retirement Plan.

Key Responsibilities

• Assist the CIO in planning, developing, and executing long‑term investment strategies for the City’s retirement systems.
• Direct, supervise, and provide leadership to 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 ORS 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

• Bachelor’s degree in Finance, Economics, Financial Engineering, Accounting, Business/Public Administration, or a related field.
• Six years of progressively responsible senior‑level leadership experience in investment management or financial operations in a public agency or financial institution.
• Form 700 requirement: disclosure of outside investments, real property interests, income, and business positions.

Acceptable Substitution

A master’s degree in a related field may substitute for one year of required experience.

Certifications

• Chartered Financial Analyst (CFA)
• Chartered Alternative Investment Analyst (CAIA)

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 in public and private investment management practices, fiduciary responsibilities, portfolio construction, monitoring, and optimization; knowledge of capital markets, economic indicators, risk modeling, and financial analysis. Ability to communicate investment concepts effectively to stakeholders, collaborate across functions, make informed decisions, manage fiscal resources, lead ethically, plan strategically, and promote shared vision.

Selection Process

Applicants must submit a resume, cover letter, and responses to supplemental questions. Additional phases may include interviews and other assessment methods.

Equal Opportunity Employer

The City of San José is an equal‑opportunity employer. Applicants for all job openings will be considered without regard to age, race, color, religion, sex, national origin, sexual orientation, disability, veteran status, or any other consideration made unlawful under any federal, state, or local laws.

Contact Information

Questions about the hiring process: Eduardo Gonzalez, View email address on click.appcast.io.
Questions about the position: Jay Kwon, View email address on click.appcast.io.