City and County of San Francisco
0922 Investment Officer – Real Assets - San Francisco Employees' Retirement Syst
City and County of San Francisco, San Francisco, California, United States, 94199
Overview
The San Francisco Employees’ Retirement System (SFERS) is dedicated to securing, protecting, and prudently investing the pension trust assets, administering mandated benefits programs, and providing promised benefits to the active and retired members of the City and County of San Francisco. Established in 1889, SFERS serves more than 75,000 active, vested, and retired employees and their survivors. What We Do
The Investment Division serves as a resource to the Retirement Board in developing investment policies and practices. In accordance with the annual investment plan, the investment team deploys capital to enhance portfolio structure, diversify investments, and sustain long-term performance. The division analyzes, develops, and recommends asset allocation mixes, manages investment portfolios, and monitors external investment managers. Application Opening: April 25, 2025 Application Deadline: Open Until Filled Salary: $134,576 and $171,834 annually Recruitment ID: RTF0143509-01155424
This job announcement may close at any time, but not before November 30, 2025. Interested applicants are encouraged to apply as soon as possible. Appointment Type
This permanent exempt position is excluded by the Charter from the competitive Civil Service Examination process and shall serve at the discretion of the Appointing Officer. Job Description
What We’re Looking For
SFERS seeks an experienced investment professional for the position of Investment Officer (IO) for its Real Assets portfolio, which includes real estate, infrastructure, natural resources, and other specialty investments. Reporting to the Director or Associate Portfolio Manager of Real Assets, the Managing Director of Private Markets, and the CIO, the IO and Real Assets team oversee SFERS’ large and complex $5 billion Real Assets portfolio. The IO participates in monitoring existing investments, underwriting and executing prospective investments, and portfolio construction and analytics. The IO works under the direction of the Director or APM of Real Assets. Essential Duties: Manage the internal process for monitoring existing investments, including meeting notes, quarterly reports, and administering capital calls and distributions. Assist in due diligence of existing and prospective investment managers, including compiling screening memos and investment recommendations for senior staff approval. Assist with review of key partnership documents and execution of subscription agreements, amendments, consents, and related materials. Assist in monitoring the Real Assets portfolio through quantitative and qualitative analysis (e.g., returns attribution). Organize and maintain investment records including subscription documents, side letters, and offering memorandums. Coordinate with investment managers, service providers, and colleagues to ensure policy compliance and accurate reporting. Work with SFERS’ real assets consultants to achieve asset class goals and manage the portfolio per the Strategic Plan. Research investment trends affecting global markets and participate in internal discussions. Receive direction from senior investment staff and complete assigned tasks accurately and timely. Provide administrative and operational support as necessary. Represent SFERS with professionalism to external investment managers, investment consultants, and other stakeholders. Qualifications
These minimum qualifications establish the education, training, experience, special skills and/or license(s) required for employment. Additional qualifications may apply as stated in the exam/job announcement. Education:
Possession of a baccalaureate degree from an accredited college or university with major coursework in finance, economics, business administration, accounting, statistics, or similar field; AND Experience:
Three (3) years of investment experience with an investment management firm, pension plan, university, endowment, foundation, corporation, family office, or consulting firm. Substitution: Graduate degree in Business Administration, Finance, Statistics, Investment Management, Economics or similar field, or CFA designation may substitute for an undergraduate degree in a different field. Two years of investment management experience at a position equivalent to an Investment Officer, or seven years of such responsibility at a firm of any size, may substitute for an undergraduate degree in a different field. How To Stand Out
Desirable Qualifications:
The following may be used to identify finalists at the end of the selection process. Knowledge and prior experience with alternatives, especially real assets (real estate, infrastructure, natural resources) and/or other private markets strategies. Understanding of complex investment strategies, market trends, and developments. Strong organizational and analytical skills; proficiency in Microsoft Excel, Word, PowerPoint, and PowerBI. Analytical, financial modeling, and data visualization skills. Strong writing and presentation skills; genuine interest in the subject matter. Attention to detail and commitment to high-quality work. Ability to prioritize and handle multiple time-sensitive tasks. Self-motivated and able to work independently and in a team. Professionalism and ability to build networks with internal and external contacts. Willingness to travel globally up to 20% of the time. CFA or CAIA designation preferred. Sound judgment, integrity, and moral code. Verification
Applicants may be required to submit verification of qualifying education and experience. See https://sfdhr.org/how-verify-education-requirements for details. Note:
Falsifying education, training, or work experience may result in disqualification. All information must be included on the application by the filing deadline. Resumes will not be accepted in lieu of a completed City and County of San Francisco application. Applications completed improperly may lead to ineligibility or disqualification.
SELECTION PROCEDURES
Applications are screened for qualifying experience; not all applicants will be invited to participate in the process.
Additional Information Information About The Hiring Process Conviction History Employee Benefits Overview Equal Employment Opportunity Disaster Service Worker ADA Accommodation Seniority Credit in Promotional Exams Veterans Preference Right to Work Copies of Application Documents Diversity Statement How To Apply
All applicants must submit a resume and completed job application (all sections, including Experience and Education, must be completed). Resumes will not substitute for the application. Applications for City and County of San Francisco jobs are accepted online. Visit careers.sf.gov to begin the process. Click the “I’m Interested” button and follow instructions on the screen Applicants may be contacted by email. Ensure your registered email address is accurate and not blocked by spam filters. Allow CCSF mail from provided domains. Applicants will receive a confirmation email upon submission. If you do not receive it, the online application may not have been submitted or received. For questions, contact the recruitment analyst, Michael Nettles, at michael.nettles@sfgov.org. All information will be kept confidential according to EEO guidelines. The City and County of San Francisco encourages women, minorities, and persons with disabilities to apply. Applicants will be considered regardless of sex, race, age, religion, color, national origin, ancestry, disability, medical condition, HIV/AIDS status, or other protected categories under the law.
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The San Francisco Employees’ Retirement System (SFERS) is dedicated to securing, protecting, and prudently investing the pension trust assets, administering mandated benefits programs, and providing promised benefits to the active and retired members of the City and County of San Francisco. Established in 1889, SFERS serves more than 75,000 active, vested, and retired employees and their survivors. What We Do
The Investment Division serves as a resource to the Retirement Board in developing investment policies and practices. In accordance with the annual investment plan, the investment team deploys capital to enhance portfolio structure, diversify investments, and sustain long-term performance. The division analyzes, develops, and recommends asset allocation mixes, manages investment portfolios, and monitors external investment managers. Application Opening: April 25, 2025 Application Deadline: Open Until Filled Salary: $134,576 and $171,834 annually Recruitment ID: RTF0143509-01155424
This job announcement may close at any time, but not before November 30, 2025. Interested applicants are encouraged to apply as soon as possible. Appointment Type
This permanent exempt position is excluded by the Charter from the competitive Civil Service Examination process and shall serve at the discretion of the Appointing Officer. Job Description
What We’re Looking For
SFERS seeks an experienced investment professional for the position of Investment Officer (IO) for its Real Assets portfolio, which includes real estate, infrastructure, natural resources, and other specialty investments. Reporting to the Director or Associate Portfolio Manager of Real Assets, the Managing Director of Private Markets, and the CIO, the IO and Real Assets team oversee SFERS’ large and complex $5 billion Real Assets portfolio. The IO participates in monitoring existing investments, underwriting and executing prospective investments, and portfolio construction and analytics. The IO works under the direction of the Director or APM of Real Assets. Essential Duties: Manage the internal process for monitoring existing investments, including meeting notes, quarterly reports, and administering capital calls and distributions. Assist in due diligence of existing and prospective investment managers, including compiling screening memos and investment recommendations for senior staff approval. Assist with review of key partnership documents and execution of subscription agreements, amendments, consents, and related materials. Assist in monitoring the Real Assets portfolio through quantitative and qualitative analysis (e.g., returns attribution). Organize and maintain investment records including subscription documents, side letters, and offering memorandums. Coordinate with investment managers, service providers, and colleagues to ensure policy compliance and accurate reporting. Work with SFERS’ real assets consultants to achieve asset class goals and manage the portfolio per the Strategic Plan. Research investment trends affecting global markets and participate in internal discussions. Receive direction from senior investment staff and complete assigned tasks accurately and timely. Provide administrative and operational support as necessary. Represent SFERS with professionalism to external investment managers, investment consultants, and other stakeholders. Qualifications
These minimum qualifications establish the education, training, experience, special skills and/or license(s) required for employment. Additional qualifications may apply as stated in the exam/job announcement. Education:
Possession of a baccalaureate degree from an accredited college or university with major coursework in finance, economics, business administration, accounting, statistics, or similar field; AND Experience:
Three (3) years of investment experience with an investment management firm, pension plan, university, endowment, foundation, corporation, family office, or consulting firm. Substitution: Graduate degree in Business Administration, Finance, Statistics, Investment Management, Economics or similar field, or CFA designation may substitute for an undergraduate degree in a different field. Two years of investment management experience at a position equivalent to an Investment Officer, or seven years of such responsibility at a firm of any size, may substitute for an undergraduate degree in a different field. How To Stand Out
Desirable Qualifications:
The following may be used to identify finalists at the end of the selection process. Knowledge and prior experience with alternatives, especially real assets (real estate, infrastructure, natural resources) and/or other private markets strategies. Understanding of complex investment strategies, market trends, and developments. Strong organizational and analytical skills; proficiency in Microsoft Excel, Word, PowerPoint, and PowerBI. Analytical, financial modeling, and data visualization skills. Strong writing and presentation skills; genuine interest in the subject matter. Attention to detail and commitment to high-quality work. Ability to prioritize and handle multiple time-sensitive tasks. Self-motivated and able to work independently and in a team. Professionalism and ability to build networks with internal and external contacts. Willingness to travel globally up to 20% of the time. CFA or CAIA designation preferred. Sound judgment, integrity, and moral code. Verification
Applicants may be required to submit verification of qualifying education and experience. See https://sfdhr.org/how-verify-education-requirements for details. Note:
Falsifying education, training, or work experience may result in disqualification. All information must be included on the application by the filing deadline. Resumes will not be accepted in lieu of a completed City and County of San Francisco application. Applications completed improperly may lead to ineligibility or disqualification.
SELECTION PROCEDURES
Applications are screened for qualifying experience; not all applicants will be invited to participate in the process.
Additional Information Information About The Hiring Process Conviction History Employee Benefits Overview Equal Employment Opportunity Disaster Service Worker ADA Accommodation Seniority Credit in Promotional Exams Veterans Preference Right to Work Copies of Application Documents Diversity Statement How To Apply
All applicants must submit a resume and completed job application (all sections, including Experience and Education, must be completed). Resumes will not substitute for the application. Applications for City and County of San Francisco jobs are accepted online. Visit careers.sf.gov to begin the process. Click the “I’m Interested” button and follow instructions on the screen Applicants may be contacted by email. Ensure your registered email address is accurate and not blocked by spam filters. Allow CCSF mail from provided domains. Applicants will receive a confirmation email upon submission. If you do not receive it, the online application may not have been submitted or received. For questions, contact the recruitment analyst, Michael Nettles, at michael.nettles@sfgov.org. All information will be kept confidential according to EEO guidelines. The City and County of San Francisco encourages women, minorities, and persons with disabilities to apply. Applicants will be considered regardless of sex, race, age, religion, color, national origin, ancestry, disability, medical condition, HIV/AIDS status, or other protected categories under the law.
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