RMS Senior Portfolio Manager

Job Description and Duties

The starting salary for this position will be set competitively and commensurate with the candidate’s qualifications and experience. This position is eligible for incentive compensation and has a maximum incentive opportunity of 150% of base salary.

The CalSTRS Investments Branch is seeking an experienced individual to work as a Senior Portfolio Manager (SPM) on the Risk Mitigating Strategies team.

The objective of Risk Mitigating Strategies (RMS) is to invest in strategies that further diversify the CalSTRS total fund, particularly during equity market downturns. RMS includes long duration U.S. Treasuries, Trend Following, Global Macro, Systematic Risk Premia, and other strategies to be identified in the future.

Under direction of the Director of Risk Mitigating Strategies (RMS), the Senior Portfolio Manager (SPM) provides oversight and guidance in the management of a major segment of the RMS portfolio. The SPM will assist the Director of RMS with the full range of duties associated with strategic overlay and tactical internalization consistent with established investment policies and guidelines. The incumbent provides leadership to RMS portfolio managers and staff and performs the following complex duties requiring the highest degree of independence and discretionary judgement.

The ideal candidate will possess the following skills:

• Demonstrated ability to lead strategic portfolio overlays for large, multi-asset institutional portfolios and recommend strategy reallocations to manage drawdowns.
• Experience transitioning external mandates into internally managed, cost-efficient portfolios while upholding governance, controls, and alignment with total fund objectives
• Advanced proficiency executing derivative and overlay trades with strong collateral and counterparty risk oversight
• Strong quantitative risk modeling skills, including gap analysis, and the ability to translate results into portfolio actions.
• Proven ability to evaluate and refine risk policies, procedures, and internal controls to maintain governance and total-fund risk alignment.
• Effective collaborator with total-fund partners to maintain target allocations and integrate RMS overlays within broader enterprise objectives.
• Experienced leader skilled in hiring, mentoring, performance management, and developing high-performing investment teams and resourcing plans.
• Strong communicator with the ability to represent the organization externally and present complex portfolio topics to senior leadership and cross-functional teams.

An incumbent who possesses a professional certification in one of the following designations: Chartered Financial Analyst (CFA), Certified Commercial Investment Member (CCIM), Financial Risk Manager (FRM), Certified Investment Management Analyst (CIMA) or Chartered Alternative Investment Analyst (CAIA) may receive a 5% monthly base paydifferential. Only one 5% base pay differential is eligible regardless of the number of certifications.

Relocation benefits may be available.

To be considered for this position, submit your resume directly to Olivia Anderton, oander View email address on calcareers.ca.gov .

This advertisement is posted as until filled. The Job Control will remain open, and applications will be reviewed every Friday, until filled.

Does this opportunity seem right for you? If so, see the  Application Instructions  section below and apply now.

You will find additional information about the job in the .

Working Conditions

CalSTRS offers a hybrid approach including in-office and remote work solutions based on business needs.

All staff of CalSTRS are employees of the State of California and subject to California employment taxes and withholdings. Upon appointment, staff are required to provide a current California address to CalSTRS Human Resources to be used as a remote work location.

Special Requirements

Exam

This position requires a current Senior Portfolio Manager  examination . If you need to take the examination or if your score has expired, click here to gain list eligibility.

CalSTRS Personal Trading Program

Investment Branch employees are required to participate in the CalSTRS Personal Trading Program which allows CalSTRS to monitor employees’ personal trading transactions in order to reduce risks associated with insider trading, front running, and misusing material non-public information. Upon accepting a position within the Investment Branch, you will be required to disclose your personal broker account information and be required to utilize a personal broker from a designated list as provided by CalSTRS.

Background Investigation

Prior to employment with CalSTRS, a background investigation (BI) will be conducted. The BI consists of a  Personal History Statement and fingerprinting through the Department of Justice. The BI will check criminal and civil records and, if applicable, verify education and check driving records.

CalSTRS Disclosure Requirements

This position may be subject to disclosure and disqualification requirements concerning economic conflict of interest in government work, including the  Conflict of Interest Code that applies to CalSTRS team members and the  Political Reform Act , which require disclosure of certain investment information and use of a designated trading platform for securities transactions, as well as filing a  Statement of Economic Interest (Form 700) .

Incompatible Activities

This position is subject to the provisions of Government Code Section 19990 . Upon accepting a position at CalSTRS, you will also be required to comply with the CalSTRS Incompatible Activities Policy by ensuring that outside work or activities are compatible and align with your professional activities or workplace obligations.

Benefits

CalSTRS offers a competitive pay schedule and a work-life-balance for all its employees. The State of California provides comprehensive benefits packages determined by the employee’s bargaining unit and conditions of employment. Some benefits include:

• Alternative work schedules
• Flexible work hours
• Remote work options
• Medical benefits, including health, dental and vision insurance
• Paid holidays and a defined benefit retirement program
• More than four weeks of vacation/sick leave for leaders
• More than three weeks of vacation/sick leave for staff
• Health insurance in retirement
• Employee Assistance Program
• Loan forgiveness under the federal 

For the latest information on the benefits offered by the state of California, explore the Health Benefits Summary provided by CalHR .

ADDITIONAL APPLICATION INSTRUCTIONS

• Electronic applications through your CalCareer account are highly recommended.  If you are unable to apply electronically through your CalCareer account, please mail or drop off a hard copy of your application packet. Please provide the following information on your application: PN: 815-310-4663-011, RPA: 0615, JC-519965.
• If education is being used to meet the minimum qualifications, please submit a copy of your transcripts/degree.
• Training and Development (T&D) assignments may be considered for this position. If you are applying as a T&D, please indicate this in the eligibility section of your application.
  
• Candidate may be selected by application packet review only.
• Multiple positions may be filled from this recruitment.
• Submission of an incomplete STD 678 may result in disqualification. 

Required Application Package Documents

The following items are required to be submitted with your application. Applicants who do not submit the required items timely may not be considered for this job:

• Current version of the State Examination/Employment Application STD Form 678 (when not applying electronically), or the Electronic State Employment Application through your Applicant Account at All Experience and Education relating to the Minimum Qualifications listed on the Classification Specification should be included to demonstrate how you meet the Minimum Qualifications for the position.
• Resume is required and must be included.