INVESTMENT OFFICER III, PUBLIC EMPLOYEES RETIREMENT SYSTEM

Job Description and Duties

Under the direction of the RA Associate Investment Manager (AIM) and / or RA Investment Manager, the Investment Officer III (IO III) is principally responsible for sourcing and underwriting new investment opportunities, managing the existing portfolio, and research and strategic planning.

The IO III will maintain a positive team approach while demonstrating CalPERS’ Core Values of Quality, Respect, Integrity, Openness, Accountability, and Balance in accordance with personal work ethic in alignment with CalPERS Investment Beliefs.

Duties include but are not limited to :

• Sourcing and underwriting of new investment opportunities, including new partnerships (e.g., commingled funds or separately managed accounts) and single assets and / or platforms (direct investments, co-investments, or investments falling outside partners delegated authorities)
• Lead in the review of due-diligence materials (including, among others, financial statements, advisors’ reports, financial model, legal documents, and investment memorandums).
• Develop financial forecasts, including Microsoft Excel model creation and / or manipulation of an existing one, with a focus on valuation, scenario analysis, risk assessment, business analysis, and the review and analysis of key qualitative and quantitative metrics.
• Negotiation and drafting of legal documentation, including term sheets and partnership agreements, with the assistance of external and internal legal counsels.

Interview Dates : We anticipate interviews to be held one month from the final filing date.

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.

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Special Requirements

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 .

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Retirement

Learn more about the defined benefit plan that is offered to state employees through the California Public Employees' Retirement System (CalPERS) based on years of service, age and final compensation.

CalPERS also offers disability retirement, partial service retirement, and death benefits for eligible employees.

401(k) and 457(b) Plans (Savings Plus)

Offers a voluntary benefit that allows you to contribute to both a 401(k) and a 457(b) plan to enhance your retirement benefit.

This allows you to contribute, through payroll deduction, up to twice the amount available to the private sector and most public sector employees.

You can contribute on both a pre-tax and an after-tax designated Roth basis that offers you the opportunity to take advantage of tax savings now and in the future.

California State Civil Service Employee Benefits Summary - Specific Benefits Specific Benefits Additional Information

Cash In Lieu of Health and / or Dental Benefits (Cash Option)

Allows you to receive cash in lieu of state-sponsored health and / or dental benefits insurance if you have other qualifying medical and / or dental coverage through a spouse, domestic partner, parent or other source.

Common Carrier Travel and Accident Insurance for Excluded Employees Only

Offers employer-paid accidental death and dismemberment insurance to managers, supervisors and other specified employees who travel on state business.

Commute Program

Voluntary benefits that subsidize commuting expenses for eligible employees who commute to and from work using public transportation, vanpools, or bicycles.

Consolidated Benefits (CoBen)

Provides a benefit allowance, rather than specific contribution amounts for health, dental and vision benefits. You may receive additional taxable income each month, depending on the total cost of the benefit plans you choose.

Consolidated Omnibus Budget Reconciliation Act (COBRA)

Continuation of health, dental, and vision insurance coverage as well as medical reimbursement account for employees and eligible dependents who involuntarily lose coverage.

Death Benefits

Benefits available to legal survivors and / or designees of state employees; see "Planning Ahead" handbook.

Planning Ahead Handbook Dental Benefits

Offers you and your dependents preventive, basic and major dental care coverage through one of several dental plans.

Employee Assistance Program

Employer-paid program offers free professional and confidential short-term counseling and referral services to employees and their eligible dependents, as well as valuable information on a variety of topics including financial, legal, and wellness.

866) EAP-4SOC

California State Civil Service Employee Benefits Summary Benefit Description Additional Information

Group Legal Services Insurance

Voluntary, employee-paid plan that provides comprehensive legal coverage designed to meet most common personal legal needs.

Available to eligible employees and their eligible dependents.

Group Long-Term Disability Insurance For Excluded Employees Only

Voluntary, employee-paid plan that replaces a portion of the employee's income in the event the employee is unable to work for six months or longer due to a covered illness or injury.

Health Benefits

Offers you and your dependents a broad range of health insurance plans with the state paying a portion of the premium. CalPERS administers this coverage.

CalPERS Health and Wellness

Promotes a work environment that encourages healthy lifestyle choices, decreases the risk of illness and disease and enhances employee effectiveness and well-being.

Long-Term Care Program

Offers coverage through CalPERS for a chronic illness, frailty of old age, or a serious accident. Available to all California public employees, retirees, and their eligible family members.

Part-time, Seasonal, and Temporary Retirement Program

Offers a retirement savings program for part-time, seasonal and temporary employees who are not covered by CalPERS or Social Security.

Reimbursement Accounts

Allows you to set pre-taxed money aside in a reimbursement account to pay for certain kinds of medical and dependent care expenses.

You can increase your take home pay and decrease your taxable income.

Third-Party Pre-Tax Parking Reimbursement Account Program

Allows you to deduct a specific pre-tax amount for work-related parking fees from your pay. Available to employees who drive a personal vehicle to work or to a location from which the employee commutes to work and pays for parking.

Vision Benefits

Employer-paid benefit that offers you and your dependents an annual eye examination and an allowance for frames and lenses.

An enhanced vision plan is also available which provides higher allowances for certain materials and other benefits.