The California Public Employees' Retirement System is looking for an experienced chief financial officer who will oversee the financial and risk management operations of the $235 billion pension fund.
The new position was created to ensure the retirement fund maintains a high level of transparency, according to the pension fund's chief executive officer, Anne Stausboll.
This newly created CFO position will be responsible for managing the finance processes for CalPERS, including budgeting, accounting, cash management, and financial planning and analysis.
The successful candidate will also oversee CalPERS enterprise risk-management projects.
The CFO will be part of the system's executive leadership team, provide expert consultation and advice to the CalPERS Board of Administration, and report to Stausboll.
"Our CFO will be the single point of coordination for financial and risk-related activities across our organization," Stausboll said.
CalPERS has retained Heidrick & Struggles, an executive search firm, to conduct the global search.
Ideal candidates will possess at least 10 years of experience managing complex financial operations, including financial analysis and financial reporting, risk management, budgeting and cash management.
CalPERS is also looking for someone with a strong understanding of the capital markets and economic factors that can affect an organization's long-term strategic plan.
A degree in accounting, finance, economics or a closely related field is needed, as well as professional certification such as a CPA or CFA. CalPERS is the country's largest public pension fund.
The system administers retirement benefits for more than 1.6 million California state, local government, and public school employees, retirees, and their families on behalf of more than 3,000 public employers, and health benefits for more than 1.3 million enrollees.