Market Risk Investment Analyst

Job Description and Duties

Anticipated Interview Dates: We anticipate holding interviews two weeks after the cutoff date. We look forward to meeting with you!

This position is being re-advertised. If you previously applied, your application is still being considered and you do not need to re-apply.

Our Investment Office is currently seeking an Investment Officer (IO) II or III for enhancing and developing asset allocation and risk analytics tools to support the management of the total portfolio. Under the direction of the Associate Investment Manager, the IO conducts quantitative analyses to evaluate the impact of investment strategies, oversees the use of statistical and optimization models, and prepares data-driven reports for portfolio management teams.

The role includes developing and applying liquidity models, simulating cash flows under various scenarios, and analyzing the portfolio’s overall liquidity position. Additionally, the position streamlines and automates analytics using programming tools such as Python, SQL, and Power BI, integrates artificial intelligence solutions, and implements data visualization best practices.

Telework Information: This position is eligible for a hybrid work schedule, with up to two days of remote work and three days or more onsite, per week.

Sponsorship: This position is not eligible for visa sponsorship. Applicants must be authorized to work in the US without the need for a visa sponsorship now or in the future. CalPERS does not participate in E-Verify for employment authorization purposes.

Effective July 1, 2025, The California Department of Human Resources (CalHR) implemented the Personal Leave Program 2025 (PLP 2025). PLP 2025 directs that each employee shall receive a 3 percent reduction in pay in exchange for 5 hours PLP 2025 leave credits, monthly. The salary range(s) included in the job advertisement do not reflect the 3 percent reduction in pay.

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You will find additional information about the job in the .

Special Requirements

Statement of Qualifications

Please provide a Statement of Qualifications (SOQ) for the hiring manager’s review. Applications received without an SOQ or those that do not respond to the specific questions below will not be considered.

The SOQ must be typed, titled “Statement of Qualifications,” and each response must be numbered and list all relevant experience, education, and training, including places of employment, dates, and duties performed. The SOQ must not exceed two pages in length. We ask that you not use Artificial Intelligence assistance when composing your written response. Written responses are an attempt to assess and gain an understanding of your personal writing and communication skills and abilities.

1. Based on what you know about CalPERS and the duty statement for this position, please share your relevant skills, experience, and education. How will they help you to be successful in this position?
2. Please describe applications and systems that you have hands-on experience with. Please explain how you used them in the past. Which ones do you think could be helpful for this job?
3. Collaboration is crucial within a portfolio risk team. Can you describe a time when you had to work closely with others to address a complex issue? What was your role, and how did you contribute to the team's success?

Minimum Qualifications

All experience and education relating to the Minimum Qualifications (MQs) listed on the Classification Specification should be included in your application package to clearly demonstrate how you meet the MQs for this position. The Classification Specification is located on this Job Posting under "Minimum Requirements."

Please Note: You may need to pass an examination to establish list eligibility prior to any type of job offer. To find and take an exam, visit the CalHR’s CalCareers website .

Career Services & Outreach

Need help with your state application, resume, Statement of Qualifications, or interview preparation?

The CalPERS Career Services & Outreach (CSO) team provides comprehensive support throughout the CalPERS hiring process. Our services include one-on-one online consultations for application assistance, Statement of Qualification review, and interview preparation. To schedule an appointment and receive personalized guidance from our team, please use the following booking link: CalPERS Career Services Consultations .

Desirable Qualifications

In addition to evaluating each candidate's relative ability, as demonstrated by quality and breadth of experience, the following factors will provide the basis for competitively evaluating each candidate:

• Strong analytical and problem-solving skills, with the ability to interpret data and support investment decisions.
• Solid understanding of financial markets, investment concepts, or related coursework/experience.
• Clear and effective communication skills, both written and verbal, to collaborate across teams and with external partners.
• Knowledge of programming languages such as SQL and Python.
• Ability to manage multiple projects in a fast-paced environment while maintaining attention to detail.
• A team-oriented mindset, with curiosity and a desire to learn and grow within the total fund program.

Benefits

CalPERS team members are eligible for a number of benefits. Health benefits and leave programs are available for most team members. Benefit eligibility may depend on length of service and collective bargaining agreements.

Some added benefits CalPERS offers include:

• Alternate Work Schedules
• Flexible Work Hours
• Onsite childcare facility
• Onsite fitness center
• Onsite café and nearby restaurants
• Free onsite parking available Mondays and Fridays, subject to change
• Free offsite parking available with shuttle service Tuesdays, Wednesdays, and Thursdays

For more details about employee benefits, visit the California Department of Human Resources website.

Additional Information

Live Scan
Candidates not currently employed at CalPERS are required to submit to a criminal history review process utilizing Live Scan fingerprinting.

CalPERS Disclosure Requirements
If employed, you may be subject to rules imposed by Personal Trading Regulations and Conflict of Interest Code that apply to CalPERS team members, 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)

Surety Bond
Must be able to qualify for a Surety Bond.

Please do not include any confidential information on any documents in your application package. Confidential information that should be excluded or removed from these documents include, but is not limited to, your social security number, date of birth, marital status, personal photos, a copy of your driver’s license, equal employment opportunity data, examination scores, and LEAP status.

Required Application Package Documents

The following items are required to be submitted with your application. Applicants who do not submit the required items timely may not be considered for this job:

• Current version of the State Examination/Employment Application STD Form 678 (when not applying electronically), or the Electronic State Employment Application through your Applicant Account at All Experience and Education relating to the Minimum Qualifications listed on the Classification Specification should be included to demonstrate how you meet the Minimum Qualifications for the position.
• Resume is optional. It may be included, but is not required.
• Statement of Qualifications - In addition to completing your online job application, you must provide a Statement of Qualifications (SOQ) for the hiring manager’s review. Please see the Special Requirements section for instructions and questions for the SOQ. Applications received without an SOQ will not be considered. We ask that you not use Artificial Intelligence assistance when composing your written response. Written responses are an attempt to assess and gain an understanding of your personal writing and communication skills and abilities.