Investment Officer, Infrastructure (Investment Officer III, Public Employees Retirement System)

Job Description and Duties This position is eligible for incentive compensation and has a maximum incentive opportunity of 20% of base salary. The CalSTRS Investments Branch is seeking an experienced individual to work as an Investment Officer III on the Inflation Sensitive team. The Inflation Sensitive Unit was developed to improve diversification of the overall Investment Portfolio by seeking investment strategies and security types that would protect it against inflation, generate enhanced yield and provide stable cash flows. The unit’s portfolio is currently split between private investments in Infrastructure, Agriculture, and Timberland, and public investments such as U.S. TIPS and Commodities. The Inflation Sensitive Portfolio is a unique hybrid asset class of multiple asset types that will invest in a diversified portfolio of strategies and securities utilizing a mixture of both internal and external management. The unit will seek to lower CalSTRS overall portfolio volatility and positively capture long-term changes in inflation. Under the general direction of the Associate Portfolio Manager, the Investment Officer III performs as a high-level specialist who is responsible for leading and supporting comprehensive oversight of the Inflation Sensitive portfolio by leading investment processes, conducting in-depth financial and risk analyses, coordinating reporting and audits, advancing systems and procedures, and collaborating across internal and external partners to ensure strategic alignment and effective portfolio oversight. The incumbent performs highly complex duties requiring a high degree of independence, confidentiality, creativity and discretionary judgment to support Inflation Sensitive’s strategic goals. The ideal candidate will possess the following skills: • Bachelor’s degree in finance, economics, business, statistics, or a related field • CFA, CAIA, or other industry certification • Direct experience with infrastructure due diligence and /or asset management across infrastructure, real assets, or alternative investments • Financial modeling experience • Understanding of cash flows • Detailed understanding of legal and financial aspects of investment transactions • Strong project management skills • Experience leading, developing, mentoring, or coaching staff • Strong understanding of diverse business structures • Excellent written and oral communication skills • Ability to research, analyze, and interpret information • Ability to prioritize and ensure deadlines are met An incumbent who possesses a professional certification as a Chartered Financial Analyst (CFA) may receive a 5% monthly base pay differential. Every 12 months, based on performance evaluation, employees may receive a 5% salary increase until they reach the maximum salary for the position. In July 2025, the State of California implemented the Personal Leave Program 2025. This program reduces employees’ monthly base pay in exchange for paid leave credits. This position is subject to PLP 2025 and will have a monthly base pay reduction of 3% in exchange for 5 hours of leave credits for the duration of the program. The salary ranges shown on this job posting do not reflect the reduced amounts. Does this opportunity seem right for you? If so, see the Application Instructions section below and apply now. You will find additional information about the job in the Duty Statement. Special Requirements CalSTRS Personal Trading Program Investment Branch employees are required to participate in the CalSTRS Personal Trading Program which allows CalSTRS to monitor employees’ personal trading transactions in order to reduce risks associated with insider trading, front running, and misusing material non-public information. Upon accepting a position within the Investment Branch, you will be required to disclose your personal broker account information and be required to utilize a personal broker from a designated list as provided by CalSTRS. Background Investigation Prior to employment with CalSTRS, a background investigation (BI) will be conducted. The BI consists of a Personal History Statement and fingerprinting through the Department of Justice. The BI will check criminal and civil records and, if applicable, verify education and check driving records. CalSTRS Disclosure Requirements This position may be subject to disclosure and disqualification requirements concerning economic conflict of interest in government work, including the Conflict of Interest Code that applies to CalSTRS team members and the Political Reform Act, which require disclosure of certain investment information and use of a designated trading platform for securities transactions, as well as filing a Statement of Economic Interest (Form 700). Incompatible Activities This position is subject to the provisions of Government Code Section 19990. Upon accepting a position at CalSTRS, you will also be required to comply with the CalSTRS Incompatible Activities Policy by ensuring that outside work or activities are compatible and align with your professional activities or workplace obligations.