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 (IO III) 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 Investment Officer III recommends and implements investment strategies and policies that support the goals and objectives of the Fixed Income Private Credit Portfolio. The incumbent is expected to perform the most complex duties requiring the highest degree of competence, independence, confidentiality, and discretionary judgement.
The ideal candidate will possess the following skills:
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Experience sourcing, evaluating, and recommending private credit investment strategies.
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Strong due-diligence skills, including operational, risk, legal, and compliance review of external managers.
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Advanced quantitative analysis abilities, including performance and risk attribution.
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Experience implementing and managing co-investment strategies under tight timelines.
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Strong relationship-management skills and ability to represent the organization with external partners.
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Ability to monitor and manage portfolio risks, including ESG and macroeconomic factors.
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Demonstrated leadership and mentoring experience within investment teams.
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Bachelor’s degree with major work in business administration, economics, finance, mathematics, or a closely related field and/or professional credentials (e.g., CFA, CAIA) preferred.
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.
