What are the responsibilities and job description for the DEPUTY CHIEF INVESTMENT OFFICER, CSTRS position at Public Employees Retirement System?
Although the classification title indicates CalSTRS, this position resides with the California Public Employees' Retirement System (CalPERS), and the salary reflected is for the CalPERS position.
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 virtual interviews on an ongoing basis until the position is filled.
CalPERS Investment Office (INVO) is seeking an experienced individual to fill the position of Private Markets Deputy Chief Investment Officer (DCIO). As a key member of the INVO senior leadership team, in a highly visible and complex government organization, the DCIO will deal with an array of financial, economic, policy, and administrative issues and must have the skills to build and maintain collaborative relationships. The DCIO must be a strong investor who is goal-oriented, organized, and can carry out a complicated and multi-faceted role with poise, integrity, and grace. Excellent communication skills are essential, as is transparency and productive relationship building.
The ideal candidate will demonstrate CalPERS Core Values and Guiding Behaviors in performing INVO duties under the general direction of the Chief Investment Officer (CIO). The DCIO is responsible for collaborating with the CIO in supporting private asset markets investment decision making in a risk-aware manner to generate the required absolute rate of return necessary to meet CalPERS pension obligations.
Telework Information: This position is eligible for a hybrid work schedule, with up to two days of remote work and three days or more onsite, per week.
Sponsorship: CalPERS does not participate in E-Verify for employment authorization purposes.
This position will run until filled with cutoff dates for review every Friday until filled, with the first cutoff date being January 9th.
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.
You will find the Minimum Requirements in the Class Specification.
DEPUTY CHIEF INVESTMENT OFFICER, CSTRS
Job Application Package Checklist
Duty Statement
Job Code #:
JC-503404
Position #(s):
275-602-1014-001
Working Title:
Deputy Chief Investment Officer, Private Markets
Classification:
DEPUTY CHIEF INVESTMENT OFFICER, CSTRS
$28,325.00 - $47,208.33
This position is eligible for annual and long-term incentive awards. The annual incentive opportunity is 0-180% 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 0-180% 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
California Public Employees’ Retirement System (CalPERS) is a global institutional investor and the nation’s largest public pension fund, with assets of approximately $599.50 billion as of January 2, 2026. 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.
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. If you are using education to meet MQs, please include your transcripts with your application package. If you have a degree from outside of the United States, you must submit an evaluation of this degree to determine the US equivalency. If you need an evaluation, you can visit the National Association of Credential Evaluation Services (NACES) website to find organizations that provide these services. 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.
Careers 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.
In addition to evaluating each candidate's relative ability, as demonstrated by quality and breadth of experience, the following factors will provide the basis for competitively evaluating each candidate:
Acts in a professional manner and demonstrates a high degree of integrity, honesty, and ethical
behavior
Demonstrates openness and trust
Establishes and builds rapport by modeling values-based behaviors
Exhibits strong interpersonal and mentoring skills
Promotes a high-performance and inclusive culture where employees are encouraged and enabled to perform to
their greatest
potential
Salary : $28,325 - $47,208
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