City and County of San Francisco

According to Civil Service Commission Rule 109, the duties specified below are representative of the range of duties assigned to this job code and are not intended to be an inclusive list.

1. Develops and executes a continuous plan of investment practice and formulates investment philosophy and strategies for the Retirement System; on the basis of financial analysis and review, makes recommendations to the Retirement Board on investment policies and strategies designed to provide maximum risk adjusted return to the Retirement System in consideration of the liabilities.

2. Directs the activities of the Investment Division; recruits, administers, plans, coordinates and evaluates the activities of a staff engaged in the purchase, sale and transfer of assets, securities and limited partnerships; directs the analysis, research and investigation connected with a variety of financial transactions, and directs staff oversight of externally managed separate accounts.

3. Maintains close liaison with outside investment managers and advisors with respect to the Retirement System investment program; consults with investment counselors with respect to the purchase, sale or transfer of common stocks, bonds or other securities; studies and makes recommendations to the Retirement Board using input from outside consultants and staff; studies and analyzes financial trends.

4. Through subordinates, directs a variety of financial transactions, including the purchase and sale of common stocks, mortgages, bonds, real estate and alternative investment partnerships; advises staff regarding negotiating techniques in order to protect the interest of the Retirement System; directs the preparation of a variety of records of financial transactions and submits reports on Investment Division activities to the Retirement Board.

5. Maintains harmonious relations with Retirement System's management team and the Retirement Board; represents the department's investment program to employee groups, Board of Supervisors, and representatives of the financial services community.

6. Participates and maintains contacts with other institutional investors and investment managers; stays abreast of and participates in the development of best practices in the industry.

7. Performs related duties and responsibilities as assigned.

Knowledge of: design of long-term investment programs to fund liabilities; investment theory; asset/liability modeling and asset allocation; active/passive management; costs and the hierarchical nature of the investment risks; best practices in investing; investment related strategic planning; portfolio management techniques; diversified securities and available markets; sources of data for analyzing securities and market trends; methods employed in purchase, sale or transfer of securities; investment management procedures; statistical techniques applied to financial data in evaluating securities; laws governing the sale and purchase of securities; corporate finance.

Ability to: analyze, control and direct the activities of the Investment Division; recruit and retain qualified staff; analyze and interpret financial statements; evaluate securities; negotiate purchase and sale of securities; prepare reports; develop and maintain effective relationships with those contacted in the course of work; develop, revise and adopt an effective course of action; write and speak effectively; evaluate a sophisticated and complex investment program of a public sector pension fund.

Training: Completion of a four-year college or university with a baccalaureate degree, with major coursework in economics, banking or finance.

Experience: Eight years of extensive investment/financial executive and administrative experience, including at least three years in:

1) A retirement system performing duties which involved investment policy recommendations or management of investment funds; OR

2) An investment organization performing duties which included responsibility for directing or participating in directing investments in bonds, common stocks, mortgages and other securities; and performing duties which involved investment policy recommendations and/or management of investment funds; OR

3) An executive position managing corporate pension funds, endowments, or finances; OR

4) An executive position in an investment consulting firm.