The city of San Diego is seeking a CIO to oversee and manage its approximately $2.8 billion pooled investment fund.
The CIO will report to San Diego Treasurer Elizabeth Correia and lead the investments division, which manages the city’s operating and capital-improvement funds, as well as investments tied to bond proceeds. The portfolios are primarily composed of fixed-income investments and are managed to fulfill near-term cash-flow requirements while meeting or exceeding established benchmarks.
A central responsibility of the role, according to the job posting, will be developing and implementing the investment strategy for the pooled fund while ensuring compliance with the city treasurer’s investment policy. The CIO also will direct the division’s internal credit analysis of portfolio holdings and prepare investment reports for the treasurer.
Beyond portfolio management, the position includes oversight of the city treasurer’s banking relationships, including managing banking agreements, sending out requests for proposals and contract extensions, and reviewing monthly banking analyses. The CIO also will advise on electronic payments, e-commerce systems and third-party payment-processing services.
The CIO will also be involved in the city’s investment governance, including facilitating semiannual meetings of the treasurer’s investment advisory committee. The CIO will provide annual updates to the San Diego City Council on proposed investment policy changes and serve on the city’s finance team for new bond issues.
Requirements for the position include at least seven years of “progressively responsible” portfolio-management experience and a bachelor’s or master’s degree in finance or a related field. Equivalent combinations of education and experience may qualify.
The new CIO will succeed Kent Morris, who is now a member of the board of directors and sits on its investment committee, and will supervise a three-person investment team consisting of a senior investment officer, assistant investment officer and investment assistant.
The posted salary for the position is $217,194, and the deadline to apply is October 23.
