The District of Columbia Retirement Board (DCRB) is seeking a Chief Investment Officer (CIO). DCRB is an independent agency of the District of Columbia Government. Their mission is to manage and control the assets (totaling approximately $9 billion) of the DC Police Officers and Fire Fighters’ Retirement Fund and the DC Teachers’ Retirement Fund (collectively referred to as the Fund) as well as to administer benefits for the members of the DC Police Officers and Firefighters’ Retirement Plan and the DC Teachers’ Retirement Plan (the Plans).
The CIO is a member of the DCRB Executive Leadership Team and reports directly to the Executive Director. The CIO supervises all operations of the Investment Department, including monitoring the selection and performance of external investment managers, consultants, and the custodial bank. Some of the other responsibilities include:
- Maintaining the financial strength, integrity and stability of the pension fund assets by directing and monitoring the investment program;
- Maintaining control over the pension assets and assisting the Board in developing investment policies and procedures;
- Participating in the development of DCRB’s strategic plan, annual goals and objectives for Investment staff, and directing and monitoring the accomplishments of the annual goals and objectives;
- Keeping abreast of market trends to help ensure DCRB’s operational policies and procedures reflect best market practices;
- Monitoring, evaluating, and recommending a strategic and tactical asset allocation plan and, upon Board approval, implementing the plan;
- Researching and recommending new asset classes, benchmark assignments, alpha and tracking error targets, and innovative investment management styles that can increase the return on assets, reduce risk or reduce costs to the Board;
- Monitoring and evaluating total portfolio risk and return, and recommending adjustments to the asset allocation, investment strategy, manager structure and investment guidelines;
- Monitoring the transactions of real estate managers and private equity limited partnerships;
- Coordinating all activities of the Investment Committee, including developing meeting agendas and work plans;
- Assisting the Executive Director and Investment Committee Chair with investment education and other efforts to promote sound decision making; and;
- Collaboratively persuading and influencing others, through knowledge of markets and investment analysis, in support of the incorporation of investment ideas and strategies that benefit the investment portfolio.
The selected candidate will have experience and knowledge of asset allocation theory, traditional investment instruments and components and performance of the various asset classes including venture capital, U.S. and non-U.S. equity, fixed income and cash. Working knowledge of AIMR Performance and Presentation Standards and federal securities regulations is required. Knowledgeable of SEC, CFTC, and NASD regulations and no-action positions, AIMR Codes and Standards and best practices in the finance industry are necessary.
The ideal candidate will have a Bachelor’s degree in Accounting, Finance, Business, Economics, or a related discipline, as well as a CFA, CAIA, and/or an MBA or equivalent Master’s degree. At least ten years of experience in an institutional investment environment, as well as at least seven years of experience in managing professional staff is necessary. Proven experience in effectively leading an investment team to collaborate on investment deals, implement best practices in investment management, set expectations, hold members of the team accountable, and developing staff is essential.
If interested, please apply here.