Investment Officer

Orange County Employees Retirement System
Santa Ana, California
$129,574.00 - $200,840.00 Annually
03 Jan 2023
02 Feb 2023
Industry Sector
CFA Charterholder
Employment Type
Full Time


OCERS Investment staff are eligible to participate in an annual Incentive Compensation Program upon the successful completion of the program requirements. OCERS offers an additional 5.5% incentive pay for staff with the Chartered Financial Analyst (CFA) designation.


Established in 1945, the Orange County Employees Retirement System (OCERS) provides retirement, death, disability and cost-of-living benefits to retirees of the County of Orange and certain County districts. Serving approximately 48,000 members, OCERS is governed by a ten-member Board of Retirement that is responsible for managing a $21 billion dollar fund. For more information about OCERS, please click here.

OCERS mission is to provide secure retirement and disability benefits with the highest standards of excellence.

OCERS vision is to be a trusted partner providing premier pension administration, distinguished by consistent, quality member experiences and prudent financial stewardship. 


  • Open and Transparent
  • Commitment to Superior Service
  • Engaged and Dedicated Workforce
  • Reliable and Accurate
  • Secure and Sustainable


Under the direction of the Director of Investments, the Investment Officer will oversee the OCERS' public equity portfolio and other related duties. The Investment Officer position will provide expert analytical and technical support for the Investment Division in the areas of investment management, investment reporting, performance measurement, special projects, and studies. This position is typically assigned greater responsibility to operate independently than an Investment Analyst. This position is assigned primary responsibility for one or more central portfolio management operations or asset classes.

The Investment Officer position reports directly to the Director of Investments and is expected to uphold the highest standards of integrity, accountability, professionalism, customer service, and excellence.
The distinguishing characteristics of this position are (1) significant prior experience and familiarity with public pension funds (or the equivalent) and their portfolio management operations; (2) the ability to perform complex and highly responsible departmental functions with minimal supervision; (3) the ability and proven skills to coordinate activities of trustees, consultants, investment managers, and others engaged professionally by OCERS; and (4) the ability to independently perform investment administrative functions as assigned.
The position is further distinguished from the Senior Investment Officer classification in that the latter performs highly complex assignments in a focused investment-related area that typically requires more substantial public pension fund and/or investment portfolio experience.

Core Competencies
The Investment Officer will be expected to:

  • Recommend and/or make decisions within the scope of their asset class mandate and role
  • Mentor, manage and/or develop junior investment talent as needed
  • Represent OCERS, the Investment Division, and their designated asset class when needed
  • Participate in vetting, onboarding, and training new investment staff
  • Manage investment department initiatives and develop project implementation plans as assigned
  • Maintain a high level of oral and written communication
  • Act as a model of OCERS’ culture
  • Maintain a high level of accountability
  • Contribute to the strategic and long-term goals of the organization
  • Anticipate future asset class challenges and develop plans to optimize future results
  • Have clear expectations on personal career development


Essential Duties and Responsibilities:  
The Investment Officer will be expected to perform operational, financial, and investment analysis to support OCERS' system and investment team initiatives and to perform other tasks as assigned. These include but are not limited to the following:

  • Provide subject matter expertise to the CIO and investment team in administering the long-term investment policy, strategic objectives, portfolio guidelines, and manager selection required for successful portfolio performance.
  • Perform various investment functions as the primarily responsible team member with minimal supervision.
  • Serve as the primary contact or liaison with several external service providers, such as consultants and advisors, and take the lead in monitoring such providers’ reports, data interfaces, and information systems. 
  • Regularly monitor a significant number of selected investment managers to assess performance, risk and return, and investment strategy. 
  • Recommend the selection or termination of an investment manager for reasons articulated clearly in oral and written analyses.
  • Travel to perform due diligence manager reviews; take a lead role in coordinating meetings when so assigned.
  • Monitor compliance with Board-approved investment policies, strategies, and portfolio guidelines.
  • Assist the CIO and Director of Investments in working with pension investment consultants to coordinate asset allocation studies and integrate results into the long-term investment strategy. Assist in the formal process of portfolio transition and prepare board-level progress or exception reports when required.
  • Work effectively with investment counsel on legal issues.
  • Interface effectively with Trustees and key OCERS staff members, communicating such interactions with the CIO and/or the Director of Investments.
  • Monitor portfolios of marketable and non-marketable securities to assess and maintain current valuation in custodian statements.
  • Prepare materials for Investment Committee meetings with assigned primary responsibility for one or more sections or segments.
  • Work effectively with financial auditors, legislative and regulatory agencies, and others to fulfill information requests.
  • Review memos, reports, and correspondence for quality control.


Minimum Qualifications
Education and Experience
Graduation from an accredited university or college with a Bachelor’s degree with evidence of professional training in capital markets, investment theory, securities analysis, and portfolio analytic techniques


Three years of experience in investment analysis and/or operations with a pension plan or equivalent institutional investment organization


Substitution: Alternatively, a CFA charter designation with the requisite work experience.


Highly Desirable:

  • Master’s degree in Business Administration 
  • Chartered Financial Analyst (CFA) designation 


Compensation, Incentive, & Certification Pay
Compensation will be determined based on the experience level, credentials, and personal characteristics of the candidate. OCERS Investment staff are eligible to participate in an annual Incentive Compensation Program upon the successful completion of the program requirements. OCERS offers an additional 5.5% incentive pay for staff with the Chartered Financial Analyst (CFA) designation.

For additional information and details about OCERS Incentive Compensation Policy, please click here.

OCERS offers a competitive benefits package that includes a choice of several health plans, annual leave, and paid holidays. Additionally, OCERS has a defined benefit pension plan which has reciprocity with the Public Employees Retirement System (PERS) and a deferred compensation 457 plan. OCERS offers up to an annual $10,000 Educational and Professional Reimbursement, a $3,500 taxable optional benefit plan, and a flexible/hybrid work schedule.  

For additional information and details about the OCERS pension and benefits offered, please click here.


Only on-line applications with the completed supplemental questions will be accepted for this opportunity. For additional information and to apply, please visit



OCERS, as an Equal Employment Opportunity employer, encourages applicants from diverse backgrounds to apply.   

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