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About The Department
The City of San José, the Capital of Silicon Valley, is one of the nation’s best managed cities and one of the top ten cities in which to live, work, and do business. Moreover, San José is the center of cultural, government, and economic activity for the region. The employees of the City of San José have embraced the following values: Integrity, Innovation, Excellence, Collaboration, Respect, and Celebration.
The mission of the Office of Retirement Services(ORS)is to deliver accurate and timely retirement benefits and services while prudently managing the assets entrusted to us with integrity, accountability, and a long-term vision.
Position Duties
The salary range for the Deputy Chief Investment Officer classification is $236,250.04 - $314,999.88 paid annually. This salary range includes an approximate five percent (5%) ongoing non-pensionable compensation pay.
The Office of Retirement Services is seeking an exceptionally talented, strategic, and collaborative investment executive to serve as Deputy Chief Investment Officer (DCIO). The DCIO will assist the Chief Investment Officer (CIO) in the administration and leadership of the Investment Division, act on behalf of the CIO in the CIO’s absence, and will play a critical role in supporting the management of the retirement portfolios for the Federated City Employees’ Retirement System and the Police and Fire Department Retirement Plan.
Under administrative direction of the CIO, the DCIO will provide executive leadership and operational oversight for the Investment Team and Investment Operations Team. The DCIO will support implementation of investment strategies, governance initiatives, compliance oversight, portfolio monitoring, risk management, and operational excellence across the division.
The DCIO will report directly to the Chief Investment Officer and will oversee the following direct reports:
- Senior Investment Officer (1)
- Investment Officers (3)
- Investment Analysts (2)
- Investment Operations Supervisor (1)
- Financial Analyst (1)
- Staff Specialist (1)
Responsibilities include, but are not limited to:
- Assist the CIO in planning, developing, and executing long-term investment strategies for the City’s retirement systems.
- Direct and supervise investment and investment operations staff.
- Monitor investment portfolios, asset allocation targets, investment manager performance, and risk exposures.
- Provide strategic leadership on governance, fiduciary compliance, and investment policy implementation.
- Oversee investment operations, performance analytics, risk monitoring, and reporting processes.
- Coordinate strategic projects and cross-functional initiatives.
- Represent the Office of Retirement Services in meetings with consultants, investment managers, Retirement Boards, and City leadership.
- Assist with personnel administration, including recruitment, performance evaluations, staff development, and resource allocation.
- Ensure compliance with Investment Policy Statements, governance standards, and applicable regulations.
- Provide staff support to Retirement Boards and City Council as needed.
Minimum Qualifications
Education:
Bachelor’s Degree from an accredited college or university in Finance, Economics, Financial Engineering, Accounting, Business/Public Administration, or a related field.
Experience:
Six (6) years of progressively responsible senior-level leadership experience in investment management or financial operations in a public agency or a financial institution.
Acceptable Substitution:
A Master’s degree in a related field may substitute for one (1) year of required experience.
Form 700 Requirement:
This position requires disclosure of outside investments, real property interests, income, and business positions.
Other Qualifications
Possession of one or more of the following certifications is highly desirable:
- Chartered Financial Analyst (CFA)
- Chartered Alternative Investment Analyst (CAIA)
The ideal candidate will possess the following desirable qualifications:
- Experience overseeing institutional investment portfolios across multiple asset classes.
- Experience with pension fund governance, fiduciary oversight, and public retirement systems.
- Knowledge of investment operations, compliance, and risk management practices.
- Strong leadership and personnel management experience.
- Experience working with investment consultants, custodians, investment managers, and governing boards.
Competencies
Job Expertise – Demonstrates knowledge of and experience with applicable professional/technical principles and practices, Citywide and departmental procedures/policies and federal and state rules and regulations.
Knowledge of:
Public and private sector investment management practices and fiduciary responsibilities.
Multi-asset class portfolio construction, monitoring, and optimization.
Capital markets, economic indicators, risk modeling, and financial analysis.
Ability to:
Communicate investment concepts effectively to stakeholders, including board members, staff, and external partners.
Collaboration – Develops networks and builds alliances; engages in cross-functional activities.
Communication Skills - Effectively conveys information and expresses thoughts and facts clearly, orally and in writing; demonstrates effective use of listening skills; displays openness to other people's ideas and thoughts.
Decision Making -Identifies and understands issues, problems, and opportunities; uses effective approaches for choosing a course of action or developing appropriate solutions.
Fiscal Management – Understands the relationship of the budget and resources to the strategic plan; complies with administrative controls over funds, contracts, and procurements.
Leadership – Leads by example; demonstrates high ethical standards; remains visible and approachable and interacts with others on a regular basis; promotes a cooperative work environment, allowing others to learn from mistakes; provides motivational supports and direction.
Meeting Ethical Standards - When confronted with ethical dilemmas, acts in a way that reflects relevant law, policy and procedures, agency values, and personal values.
Planning – Acts to align own unit’s goals with the strategic direction of the organization; defines tasks and milestones to achieve objectives, while ensuring the optimal use of resources to meet those objectives.
Vision/Strategic Thinking - Support, promote, and ensure alignment with the organization’s vision and values. Understand how an organization must change in light of internal and external trends and influences. Builds a shared vision with others and influence others to translate vision to action.
Selection Process
The selection process will consist of an evaluation of the applicant’s training and experience based on the application and responses to job-specific questions. Applications that do not include a resume and cover letter in addition to responses to the supplemental questions will not be considered. Additional phases of the selection process will include interviews and other assessment methods.
If you have questions regarding the hiring process, please contact Eduardo Gonzalez at Eduardo1.Gonzalez@sanjoseca.gov If you have any questions regarding the position please contact Jay Kwon at jay.kwon@sanjoseca.gov.
Additional Information:
Employment Eligibility: Federal law requires all employees to provide verification of their eligibility to work in this country. Please be informed that the City of San Jose will NOT sponsor, represent or sign any documents related to visa applications/transfers for H1-B or any other type of visa which requires an employer application.
You must answer all job-specific questions to be considered for this vacancy or your application will be deemed incomplete and withheld from further consideration. Applicants are expected to write their own essays/responses.
Please note that applications are currently
not accepted through CalOpps or any other third party job board application system.
This recruitment may be used to fill multiple positions in this, or other divisions or departments. If you are interested in employment in this classification, you should apply to ensure you are considered for additional opportunities that may utilize the applicants from this recruitment.
Please allow adequate time to complete the application and submit before the deadline or the system may not save your application. If your online application was successfully submitted, you will receive an automatic confirmation email to the email address you provided. IF YOU DO NOT RECEIVE THE CONFIRMATION, please email CityCareers@sanjoseca.gov and we will research the status of your application.
AI and the Hiring Process
We recognize that Artificial Intelligence (AI) is becoming part of daily life and can be a valuable tool for learning, research, and professional growth. We encourage candidates to use AI responsibly as a support in preparing application materials, live assessments, and interviews. However,
we value authenticity, accuracy and truthfulness. Application responses and interview answers must reflect your own knowledge, skills, and experiences. While AI can supplement preparation, it cannot replace the originality and judgment we look for in our employees. This ensures
fairness, transparency, and equity for all applicants in the hiring process.
