What are the responsibilities and job description for the MANAGING INVESTMENT DIRECTOR, PUBLIC EMPLOYEES' RETIREMENT SYSTEM position at Public Employees Retirement System?
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.
California Public Employees’ Retirement System (CalPERS) is a global institutional investor and the nation’s largest public pension fund. Headquartered in downtown Sacramento, CalPERS is situated in close proximity to the Napa Valley, San Francisco, Lake Tahoe, and other desirable destinations in California. Our people are deeply committed to our core values, and their decisions and actions are guided by our investment beliefs. If you thrive in a fast-paced, challenging, and rewarding environment where diversity in perspective and experience is valued, this may be the right opportunity for you.
Our Global Fixed Income (GFI) group is currently seeking a Managing Investment Director to oversee the entire GFI team, including functions such as research, portfolio management, trading activity, and drive our CalPERS mission.
Duties include, but are not limited to:
Provide executive-level leadership, guidance, and oversight for team members and managers in GFI in alignment with the Total Fund objectives
Focus on Total Portfolio Approach implementation, liquidity governance, data, and technology improvements
Develop and administer the GFI strategies and policies
Oversee the implementation of Environmental, Social, and Governance (ESG) and sustainable investment factors into the investment process, consistent with CalPERS investment objectives
Prepare reports, agenda items, and make presentations to the CalPERS Board of Administration and Investment Committee
Act as spokesperson representing CalPERS before the Legislature, the media, and the investment community
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 Sunday until filled, with the first cutoff date being March 1st.
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.
MANAGING INVESTMENT DIRECTOR, PUBLIC EMPLOYEES' RETIREMENT SYSTEM
Job Application Package Checklist
Duty Statement
Job Code #:
JC-505471
Position #(s):
275-630-4639-001
Working Title:
Global Fixed Income Managing Investment Director
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
California Public Employees’ Retirement System (CalPERS) is a global institutional investor and the nation’s largest public pension fund, with assets of approximately $611.38 billion as of February 11, 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.
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.
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:
MBA or possession of an advanced degree in finance or another technical field
Professional certification, such as CPA, CFA
Working and applied knowledge of credit analysis, portfolio management, multiple global securities markets, and trading strategies
PC experience with financial databases and software apps, including advanced Excel, PowerPoint, Bloomberg, and Aladdin
Excellent written, verbal, and presentation skills, attention to detail, and organizational skills
Quantitatively oriented and comfortable analyzing and reporting on large amounts of data
A comfort and appreciation for operating in a team and consensus-driven environment is a key aspect underlying success in the CalPERS environment
A high degree of initiative, professionalism, confidentiality, and the ability to work well under pressure in a fast-paced environment
Be flexible in adapting to changes in priorities, assignments, and other interruptions which may impact pre established timelines and courses of action
Salary : $25,750 - $42,917
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