Program Head, Total Portfolio Asset Allocation & Risk Management
Posted 1 hour ago USD 25,750 - 42,916 / month
Equal Opportunity Employer
The State of California is an equal opportunity employer to all, regardless of age, ancestry, color, disability (mental and physical), exercising the right to family care and medical leave, gender, gender expression, gender identity, genetic information, marital status, medical condition, military or veteran status, national origin, political affiliation, race, religious creed, sex (includes pregnancy, childbirth, breastfeeding and related medical conditions), and sexual orientation.
It is an objective of the State of California to achieve a drug-free work place. Any applicant for state employment will be expected to behave in accordance with this objective because the use of illegal drugs is inconsistent with the law of the State, the rules governing Civil Service, and the special trust placed in public servants.
Position Details
Job Code #:
JC-491530
Position #(s):
275-625-4639-001
Working Title:
Program Head, Total Portfolio Asset Allocation & Risk Management
Classification:
MANAGING INVESTMENT DIRECTOR, PUBLIC EMPLOYEES' RETIREMENT SYSTEM
$25,750.00 - $42,916.67
This position is eligible for annual and long-term incentive awards. The annual incentive opportunity is 0-165% of salary and is based on the level of achievement against several quantitative and qualitative measures. The long-term incentive program provides an additional opportunity of 0-165% of base salary beginning after five years and when absolute total fund returns meet or exceed board-approved thresholds.
New to State candidates will be hired into the minimum salary of the classification or minimum of alternate range when applicable.
# of Positions:
1
Work Location:
Sacramento County
Telework:
Hybrid
Job Type:
Permanent, Full Time
Department Information
California Public Employees’ Retirement System (CalPERS) is a global institutional investor and the nation’s largest public pension fund, with assets of approximately $578.69 billion as of September 8, 2025. Headquartered in downtown Sacramento, we are a destination employer with an international reputation for leadership and innovation. At CalPERS, we’re committed to people – the people we serve, our team members, and the larger community around us. CalPERS is situated near the Napa Valley, San Francisco, Lake Tahoe, and other desirable destinations, and we offer competitive benefit packages, compensation, and opportunities for advancement. Our people are deeply committed to our Mission & Vision and their decisions and actions are guided by our Investment Beliefs .
If you are interested in becoming part of a diverse and inclusive workforce where talent, experience, and expertise are valued, CalPERS invites you to apply for this employment opportunity. To find out more about our Diversity, Equity, and Inclusion efforts, visit our website !
To take a look at CalPERS as a destination employer, view this YouTube video .
Job Description And Duties
An executive search firm will be assisting in the recruitment process for this position. Your application package will be forwarded to their team for consideration.
Anticipated Interview Dates: We anticipate holding interviews on an ongoing basis until the position is filled.
This position will run until filled with cutoff dates for review every Friday until filled.
Our Investment Office (INVO) is currently seeking a Total Fund Portfolio Management Program Head to oversee teams managing a total portfolio approach to asset allocation, active risk allocation, multi-asset strategy development, financing and liquidity management, economic research, and total fund risk analytics.
Duties Include But Are Not Limited To:
Sponsorship: CalPERS does not participate in E-Verify for employment authorization purposes.
How did you hear about this position? Tell us in this brief survey .
You will find additional information about the job in the Duty Statement .
Special Requirements
Recruitment Process
An executive search firm will be assisting in the recruitment process for this position. Your application package will be forwarded to their team for consideration.
Minimum Qualifications
All experience and education relating to the Minimum Qualifications (MQs) listed on the Classification Specification should be included in your application package to clearly demonstrate how you meet the MQs for this position. The Classification Specification is located on this Job Posting under "Minimum Requirements."
Please Note: You may need to pass an examination to establish list eligibility prior to any type of job offer. To find and take an exam, visit the CalHR’s CalCareers website .
Career Services & Outreach
Need help with your state application, resume, Statement of Qualifications, or interview preparation?
The CalPERS Career Services & Outreach (CSO) team provides comprehensive support throughout the CalPERS hiring process. Our services include one-on-one online consultations for application assistance, Statement of Qualification review, and interview preparation. To schedule an appointment and receive personalized guidance from our team, please use the following booking link: CalPERS Career Services Consultations .
Application Instructions
Dates printed on Mobile Bar Codes, such as the Quick Response (QR) Codes available at the USPS, are not considered Postmark dates for the purpose of determining timely filing of an application.
Final Filing Date: Until Filled
Who May Apply
Individuals who are currently in the classification, eligible for lateral transfer, eligible for reinstatement, have list or LEAP eligibility, are in the process of obtaining list eligibility, or have SROA and/or Surplus eligibility (please attach your letter, if available). SROA and Surplus candidates are given priority; therefore, individuals with other eligibility may be considered in the event no SROA or Surplus candidates apply.
Applications will be screened and only the most qualified applicants will be selected to move forward in the selection process. Applicants must meet the Minimum Qualifications stated in the Classification Specification(s).
How To Apply
Complete Application Packages (including Your Examination/Employment Application (STD 678) And Applicable Or Required Documents) Must Be Submitted To Apply For This Job Posting. Application Packages May Be Submitted Electronically Through Your CalCareer Account At Www.CalCareers.ca.gov. When Submitting Your Application In Hard Copy, a Completed Copy Of The Application Package Listing Must Be Included. If You Choose To Not Apply Electronically, a Hard Copy Application Package May Be Submitted Through An Alternative Method Listed Below:
Address for Mailing Application Packages
You may submit your application and any applicable or required documents to:
Public Employees Retirement System
Postal
Attn: JC-491530/IP
Human Resources Division, Recruitment
P. O. Box 942718
Sacramento , CA 94229-2718
Address for Drop-Off Application Packages
You may drop off your application and any applicable or required documents at:
Public Employees Retirement System
Drop-Off
HRSD, EIR JC-491530/IP
400 Q Street, Lincoln Plaza North
1st floor drop box by security desk
Sacramento , CA 95811
08:00 AM - 05:00 PM
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:
The State of California is an equal opportunity employer to all, regardless of age, ancestry, color, disability (mental and physical), exercising the right to family care and medical leave, gender, gender expression, gender identity, genetic information, marital status, medical condition, military or veteran status, national origin, political affiliation, race, religious creed, sex (includes pregnancy, childbirth, breastfeeding and related medical conditions), and sexual orientation.
It is an objective of the State of California to achieve a drug-free work place. Any applicant for state employment will be expected to behave in accordance with this objective because the use of illegal drugs is inconsistent with the law of the State, the rules governing Civil Service, and the special trust placed in public servants.
Position Details
Job Code #:
JC-491530
Position #(s):
275-625-4639-001
Working Title:
Program Head, Total Portfolio Asset Allocation & Risk Management
Classification:
MANAGING INVESTMENT DIRECTOR, PUBLIC EMPLOYEES' RETIREMENT SYSTEM
$25,750.00 - $42,916.67
This position is eligible for annual and long-term incentive awards. The annual incentive opportunity is 0-165% of salary and is based on the level of achievement against several quantitative and qualitative measures. The long-term incentive program provides an additional opportunity of 0-165% of base salary beginning after five years and when absolute total fund returns meet or exceed board-approved thresholds.
New to State candidates will be hired into the minimum salary of the classification or minimum of alternate range when applicable.
# of Positions:
1
Work Location:
Sacramento County
Telework:
Hybrid
Job Type:
Permanent, Full Time
Department Information
California Public Employees’ Retirement System (CalPERS) is a global institutional investor and the nation’s largest public pension fund, with assets of approximately $578.69 billion as of September 8, 2025. Headquartered in downtown Sacramento, we are a destination employer with an international reputation for leadership and innovation. At CalPERS, we’re committed to people – the people we serve, our team members, and the larger community around us. CalPERS is situated near the Napa Valley, San Francisco, Lake Tahoe, and other desirable destinations, and we offer competitive benefit packages, compensation, and opportunities for advancement. Our people are deeply committed to our Mission & Vision and their decisions and actions are guided by our Investment Beliefs .
If you are interested in becoming part of a diverse and inclusive workforce where talent, experience, and expertise are valued, CalPERS invites you to apply for this employment opportunity. To find out more about our Diversity, Equity, and Inclusion efforts, visit our website !
To take a look at CalPERS as a destination employer, view this YouTube video .
Job Description And Duties
An executive search firm will be assisting in the recruitment process for this position. Your application package will be forwarded to their team for consideration.
Anticipated Interview Dates: We anticipate holding interviews on an ongoing basis until the position is filled.
This position will run until filled with cutoff dates for review every Friday until filled.
Our Investment Office (INVO) is currently seeking a Total Fund Portfolio Management Program Head to oversee teams managing a total portfolio approach to asset allocation, active risk allocation, multi-asset strategy development, financing and liquidity management, economic research, and total fund risk analytics.
Duties Include But Are Not Limited To:
- As a key member of the INVO leadership team, work collaboratively with the Chief Investment Officer and all Investment Office Programs to lead the management of total portfolio risk, including market risk, counterparty risk, and liquidity risk.
- Manage, maintain, and monitor total portfolio exposures to systematic factors through portfolio completion and rebalancing.
- Develop and implement innovative investment strategies that align with CalPERS' long-term objectives, including sustainability, risk-adjusted returns, and fiduciary responsibilities.
- Communicate complex investment strategies and performance metrics in a clear and compelling manner, tailoring presentations to diverse audiences, including the CalPERS Board, legislative bodies, and public stakeholders.
- Integrate cross-asset class perspectives into portfolio design and strategy development, leveraging diverse expertise to optimize risk-adjusted returns.
- Cultivate a culture of collaboration, innovation, and continuous improvement, encouraging the exploration of new investment strategies to enhance portfolio performance.
Sponsorship: CalPERS does not participate in E-Verify for employment authorization purposes.
How did you hear about this position? Tell us in this brief survey .
You will find additional information about the job in the Duty Statement .
Special Requirements
Recruitment Process
An executive search firm will be assisting in the recruitment process for this position. Your application package will be forwarded to their team for consideration.
Minimum Qualifications
All experience and education relating to the Minimum Qualifications (MQs) listed on the Classification Specification should be included in your application package to clearly demonstrate how you meet the MQs for this position. The Classification Specification is located on this Job Posting under "Minimum Requirements."
Please Note: You may need to pass an examination to establish list eligibility prior to any type of job offer. To find and take an exam, visit the CalHR’s CalCareers website .
Career Services & Outreach
Need help with your state application, resume, Statement of Qualifications, or interview preparation?
The CalPERS Career Services & Outreach (CSO) team provides comprehensive support throughout the CalPERS hiring process. Our services include one-on-one online consultations for application assistance, Statement of Qualification review, and interview preparation. To schedule an appointment and receive personalized guidance from our team, please use the following booking link: CalPERS Career Services Consultations .
Application Instructions
Dates printed on Mobile Bar Codes, such as the Quick Response (QR) Codes available at the USPS, are not considered Postmark dates for the purpose of determining timely filing of an application.
Final Filing Date: Until Filled
Who May Apply
Individuals who are currently in the classification, eligible for lateral transfer, eligible for reinstatement, have list or LEAP eligibility, are in the process of obtaining list eligibility, or have SROA and/or Surplus eligibility (please attach your letter, if available). SROA and Surplus candidates are given priority; therefore, individuals with other eligibility may be considered in the event no SROA or Surplus candidates apply.
Applications will be screened and only the most qualified applicants will be selected to move forward in the selection process. Applicants must meet the Minimum Qualifications stated in the Classification Specification(s).
How To Apply
Complete Application Packages (including Your Examination/Employment Application (STD 678) And Applicable Or Required Documents) Must Be Submitted To Apply For This Job Posting. Application Packages May Be Submitted Electronically Through Your CalCareer Account At Www.CalCareers.ca.gov. When Submitting Your Application In Hard Copy, a Completed Copy Of The Application Package Listing Must Be Included. If You Choose To Not Apply Electronically, a Hard Copy Application Package May Be Submitted Through An Alternative Method Listed Below:
Address for Mailing Application Packages
You may submit your application and any applicable or required documents to:
Public Employees Retirement System
Postal
Attn: JC-491530/IP
Human Resources Division, Recruitment
P. O. Box 942718
Sacramento , CA 94229-2718
Address for Drop-Off Application Packages
You may drop off your application and any applicable or required documents at:
Public Employees Retirement System
Drop-Off
HRSD, EIR JC-491530/IP
400 Q Street, Lincoln Plaza North
1st floor drop box by security desk
Sacramento , CA 95811
08:00 AM - 05:00 PM
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 www.CalCareers.ca.gov. 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 optional. It may be included, but is not required.
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