Chief Investment Officer

Teacher Retirement System of Texas; Austin (TX); On-site; USD 250,000 - 380,000; Full time

Job summary

The Teacher Retirement System of Texas seeks a Chief Investment Officer to lead the Investment Management Division, aligning strategy with the agency's obligations, risk tolerance, and funding objectives. You will advise the Board on asset allocation, portfolio structure, and risk, ensuring strong governance and fiduciary performance.

Responsibilities include directing policy execution, managing staff and performance, engaging with internal and external stakeholders, and safeguarding the pension

Qualifications

• Bachelor's degree in business, finance, economics, or a related area.

Responsibilities

• Provide executive leadership for the Investment Management Division, aligning investment strategy with obligations and risk tolerance.
• Oversee execution of policy, governance, and performance reporting to Board and executives.
• Lead talent management, succession planning, and staff development across the division.
• Serve as principal investment advisor to the Board and stakeholders, communicating analyses and policy matters clearly.

Skills

Negotiating investments

Strategic investment planning

Portfolio evaluation

Clear communication

Staff mentorship

Education

Bachelor's degree in business/finance/economics

Job description

At the Teacher Retirement System of Texas our members are our mission. We are the largest public retirement system in Texas and the sixth largest in the nation. In FY 2025, TRS paid over $14.2 billion in retirement benefits to 523,657 retirees and their beneficiaries. Our sole mission is Improving the retirement security of our members by prudently investing and managing the Trust assets and delivering benefits that make a positive difference in their lives.

With the Investment Management Division (IMD) you will be joining a group of achievers who celebrate the unique value individuals bring to support our shared cause: earning trust and contributing to the financial future of more than 2 million public education employees and retirees throughout Texas. Navigating the markets takes innovation and we’re passionate about stewarding the right investments to make an impact both in the lives of our members and all Texans. We invite you to partner with some of the best financial minds in the business to manage a global portfolio of over $250 billion in public and private investments across 15 asset classes. Our success starts with you.

The Chief Investment Officer is responsible for providing strategic leadership and executive oversight of the Teacher Retirement System Investment Management Division and the investment portfolio. The incumbent will lead investment strategy, oversee division operations and staff, advise the Board of Trustees, Executive Director, and other relevant parties on investment-related matters and uphold fiduciary responsibility for the prudent management of TRS assets in collaboration with IMD and stakeholders.

WHAT YOU WILL DO:

Strategic Oversight and Agency Representation

Provide executive leadership for the Investment Management Division, aligning investment strategy with the agency’s long-term obligations, risk tolerance, funding objectives, and operational needs. Advise the Board of Trustees and Executive Council on asset allocation, portfolio structure, risk capacity, and expected outcomes for the pension trust fund.

Oversee execution of the Investment Policy Statement and applicable policies, laws, and rules. Establish an investment philosophy that promotes accountability, evaluates emerging strategies, and strengthens portfolio performance and sustainability.

Maintain strong connections across the finance and investment community while leading development of the strategic investment plan, divisional budget, and legislative appropriation requests.

Operational Execution

Direct implementation of the Investment Policy Statement, ensuring strategies, objectives, and performance expectations remain aligned with Board-approved goals and risk parameters. Oversee performance measurement, monitoring, and reporting to evaluate results, manager effectiveness, and portfolio compliance.

Set clear objectives, define responsibilities, and ensure effective oversight across investment operations. Manage procurement, contracting, and performance of investment service providers, consultants, and vendors.

Maintain a strong internal control and compliance framework that supports sound governance and adherence to applicable requirements.

Stakeholder Engagement & Governance

Serve as the principal investment advisor to the Board of Trustees, Board committees, and Executive Director. Build trusted relationships with internal and external stakeholders while presenting recommendations, results, market analyses, risk assessments, and policy matters in a clear and decision-useful manner.

Talent Management

Lead succession planning, employee development, workforce engagement, and performance management across the division. Build leadership capacity and support succession readiness for critical investment and operational roles.

Recruit, develop, mentor, and evaluate management staff while promoting accountability, integrity, collaboration, continuous improvement, and organizational excellence.

WHAT YOU WILL BRING:

Required Education

Bachelor's degree from an accredited four-year college or university with major course work in business administration, finance, accounting, economics, or a related area.

Required Experience

• Fifteen (15) years of full-time directly related, progressively responsible experience in investment management or related experience.
• Eight (8) years of experience leading or supervising the work of others.
• Experience may be concurrent.
• A master’s or doctoral degree in a closely related field may be substituted on an equivalent year-for-year basis.

Preferred Qualifications

• Senior management experience directing an investment organization that internally manages funds.
• Advanced degree in finance, economics or related field.
• Certification as a Chartered Financial Analyst (CFA), a Chartered Alternative Investment Analyst (CAIA), and/or a Financial Risk Analyst (FRM).

Knowledge, Skills, and Abilities

Knowledge of:

• Investment concepts, strategies, styles, and analytical methodologies from the total portfolio level to individual investment selection.
• Global and domestic macroeconomic and capital market issues relating to investments.
• Statistical concepts, methods, and models and their application to investments.
• Economic, financial, actuarial, and quantitative concepts applicable to pension fund investing.
• Securities operations, investment accounting, valuation, compliance and internal controls.
• Executive leadership, workforce planning, succession management, and performance management principles.
• Investment data, portfolio management systems, risk management systems, analytical tools, and technology used in institutional investment environments.

Skills in:

• Negotiating complex investments, advisory, and service provider arrangements.
• Developing and executing long-term investment strategies for a large, diversified institutional portfolio.
• Evaluating complex investment opportunities, portfolio risks, market conditions, and financial information.
• Presenting complex investment matters clearly and persuasively to boards, executives, policymakers, and other stakeholders.
• Managing, mentoring, and motivating staff to meet organization goals and objectives.
• Negotiating issues and resolving problems.
• Written and verbal communications, including preparing and delivering complex correspondence, reports, presentations, policies, and proposals.

Ability to:

• Promote and maintain harmonious working relationships with the Board of Trustees, agency co-workers and staff, state leadership (including their staff), and other external contacts.
• Work effectively in a professional team environment.
• Protect confidential and market sensitive information while demonstrating the highest standards of ethics and professional conduct.
• Establish credibility and trust with stakeholders who have differing perspectives and levels of investment knowledge.
• Maintain independence of judgment while working collaboratively with trustees, executive leadership, employees, advisors, and external partners.
• Fulfill fiduciary responsibilities and place the interests of TRS members and beneficiaries above personal or agency interests.
• Lead through periods of market volatility, public scrutiny, and heightened stakeholder interest.