INVESTMENT DIRECTOR

State of California; California; Hybrid; USD 240,000 - 288,000; Full time

Benefits offered by this job

Relocation benefits may be available.

Hybrid work arrangement

Job summary

State Teachers' Retirement System is seeking an Investment Director to lead the Inflation Sensitive unit, focusing on inflation-hedged strategies across infrastructure, private markets, and public assets such as U.S. TIPS and commodities.

You will report to the Senior Investment Director and CIO, supervise staff, and drive investment policy, strategy, asset allocation and budgeting while collaborating with colleagues and presenting to a governing board.

Qualifications

• Knowledge of private markets investments with a focus on infrastructure.
• Experience coaching and guiding senior portfolio managers and investment staff.
• Experience developing and overseeing investment strategy initiatives with a focus on infrastructure.
• Experience executing and guiding investment policies.
• Experience managing internal and external portfolios.
• Experience in asset allocation, business plans, and budgets.
• Ability to communicate with colleagues and present to boards.

Responsibilities

• Provide leadership and investment expertise to staff and the board.
• Supervise Inflation Sensitive staff and drive inflation-linked investment strategies.
• Develop, oversee and communicate investment policy and strategic goals.
• Collaborate with CIO and Senior Investment Director to align with firm objectives.
• Manage internal and external portfolios and allocate resources effectively.

Skills

Infrastructure investments

Portfolio coaching

Investment strategy

Asset allocation

Communication with board

Strategic goals

Budgeting

Education

Bachelor's degree in Business/Finance/Economics

Job description

Job Posting:Director of Inflation Sensitive

State Teachers' Retirement System

JC-534298 -

JC-534298 - Director of Inflation Sensitive
INVESTMENT DIRECTOR

$23,667.00 - $35,417.00 per Month
New to State candidates will be hired into the minimum salary of the classification or minimum of alternate range when applicable.

Final Filing Date: 11/9/2026

Application Methods: Electronic (Using your CalCareer Account) By Mail Drop-off

The starting salary for this position will be set competitively and commensurate with the candidate’s qualifications and experience.

This position is eligible for incentive compensation and has a maximum incentive opportunity of 175% of base salary.

The CalSTRS Investments Branch is seeking an experienced individual to work as anInvestment Directoron the Inflation Sensitive team.

The Inflation Sensitive Unit was developed to improve diversification of the overall Investment Portfolio by seeking investment strategies and security types that would protect it against inflation, generate enhanced yield and provide stable cash flows. The unit’s portfolio is currently split between private investments in Infrastructure, Agriculture, and Timberland, and public investments such as U.S. TIPS and Commodities. The Inflation Sensitive Portfolio is a unique hybrid asset class of multiple asset types that will invest in a diversified portfolio of strategies and securities utilizing a mixture of both internal and external management. The unit will seek to lower CalSTRS overall portfolio volatility and positively capture long‑term changes in inflation.

Under the general direction of the Senior Investment Director, Private Markets & SISS and with guidance from the Chief Investment Officer (CIO), the Director of Inflation Sensitive provides leadership, management and investment expertise to staff and the Teachers' Retirement Board in the area of investment strategies that are more highly correlated to inflation than equity or fixed income, including the existing Global Inflation Protected and Infrastructure assets, supervises the Inflation Sensitive staff, and is responsible for performing the following complex duties requiring the highest degree of independence and discretionary judgment. The incumbent will support, contribute, and facilitate the Investment office values and culture within their unit and across the entire branch.

The ideal candidate will possess the following skills:

• Knowledge of private markets investments with a focus on infrastructure
• Experience coaching and guiding existing senior portfolio managers and investment staff
• Experience developing and overseeing investment strategy initiatives with a focus on infrastructure
• Experience executing, adhering to and providing guidance on investment policies
• Experience managing internal and external investment portfolios
• Experience in developing strategic goals and objectives, asset allocation, business plans, budgetary and broader resource planning
• Ability to effectively communicate and collaborate with colleagues both within CalSTRS and in the broader financial markets
• Ability to present recommendations to a board or similar governing body
• Possession of a degree in Business/Finance/Economics or closely related field

• 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 Analyst (CAIA) may receive a 5% monthly base pay differential. Only one 5% base pay differential is eligible regardless of the number of certifications.

Relocation benefits may be available.

You will find additional information about the job in the Duty Statement.

Working Conditions

CalSTRS offers a hybrid approach including in-office and remote work solutions based on business needs.

All staff of CalSTRS are employees of the State of California and subject to California employment taxes and withholdings. Upon appointment, staff are required to provide a current California address to CalSTRS Human Resources to be used as a remote work location.

Minimum Requirements

You will find the Minimum Requirements in the Class Specification.

• INVESTMENT DIRECTOR

INVESTMENT DIRECTOR $23,667.00 - $35,417.00 New to State candidates will be hired into the minimum salary of the classification or minimum of alternate range when applicable.

# of Positions:

1

Work Location:

Telework:

Hybrid

Job Type:

Permanent, Full Time

Department Information

CalSTRS: Securing the financial future and sustaining the trust of California’s educators

CalSTRS is the largest educator‑only pension fund in the world, providing retirement, disability and survivor benefits to California's more than 1 million public school educators and their families. The Investments Branch manages a portfolio that is broadly diversified into seven asset categories with assets totaling approximately $389.5billion as of November 30, 2025. In 2025, the CalSTRS Investments Branch was named one of the Best Places to Work in Money Management by the Pensions & Investments magazine for the eleventh time since 2013.

CalSTRS is committed to setting best practice precedents, implementing innovative diversity and inclusion principles, motivating positive change, and