This position is eligible for incentive compensation and has a maximum incentive opportunity of 50% of base salary.
The CalSTRS Investments Branch is seeking an experienced individual to work as a Associate Portfolio Manager (APM) on the Fixed Income team.
The Fixed Income division is dedicated to maximizing risk-adjusted total return within a multi-asset class portfolio. Fixed Income is managed internally and externally using lower-risk enhanced, and higher-risk active mandates that provide value through innovative/active strategies. These strategies incorporate fundamental and systematic factor-based methods of security selection and asset-allocation in order to generate returns that exceed benchmarks. In addition, the team manages several strategies and programs that reside in other divisions or serve the total fund including Treasury Inflation Protected Securities (TIPS), Long Duration Treasuries, Cash Management, Reverse Repo execution, and Currency/FX management and execution services.
Under the general direction of the Portfolio Manager, the incumbent provides independent analysis and consultation regarding development and implementation of various risk management, investment program strategies, processes and controls for the CalSTRS Interest Rates, Inflation Sensitive and Long Duration US Treasury Portfolios (Portfolios). The incumbent will consult on, recommend and participate in the implementation of asset allocation and various credit strategies consistent with policies and procedures.
The ideal candidate will possess the following skills:
- Broad and extensive investment management experience from a major financial institution or firm or government agency
- Experience leading or supporting large Fixed Income related portfolios
- Experience serving as a leader, mentor, or supervisor
- Experience using investment related tools such as BlackRock, Bloomberg, etc.
- Knowledge of investment strategies and portfolio implementation process
- Ability to manage multiple critical projects with comprehensive project management skills.
- Ability to research, lead, coordinate and mitigate risks relating to implementation and initiatives
- Ability to develop and evaluate risks, processes, and controls
- Ability to develop change management and communication strategies
- Ability to work collaboratively across multiple asset classes and within the organization
- A high degree of initiative, professionalism, confidentiality, and ability to work well under pressure in a fast-paced environment
- Ability to independently perform research, analyze data and present ideas/recommendations clearly and concisely to management
- Advanced degree in Finance, Business, Economics or a closely related field and/or CFA completion
An incumbent who possesses a professional certification in one of the following designations: Chartered Financial Analyst (CFA), Certified Commercial Investment Member (CCIM), Financial Risk Manager (FRM), Certified Investment Management Analyst (CIMA) or Chartered Alternative Investment Analysts (CAIA) may receive a 5% monthly base pay differential. Only one 5% base pay differential is eligible regardless ofthe number of certifications.
Relocation benefits may be available.
In July 2025, the State of California implemented the Personal Leave Program 2025. This program reduces employees’ monthly base pay inexchange 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 ofleave credits for the duration of the program. The salary ranges shown on this job posting do not reflect the reduced amounts.
