Retirement Investment Analyst II

County of Sonoma; Santa Rosa (CA); Hybrid; USD 126,000 - 154,000; Full time

Benefits offered by this job

Hybrid Telework

Salary advancement

Paid Time Off

Staff Development/Wellness

Health premium contributions

Retirement plan

Parental Leave

Public Service Loan Forgiveness

Job summary

County of Sonoma seeks a Retirement Investment Analyst II to conduct detailed data collection and analysis for the Investment Program, working under supervision, evaluating performance, asset allocation, and market trends.

This role requires strong Excel skills, experience with public pension investments, and the ability to prepare board materials, present findings, and collaborate with consultants, custodians, and investment managers while supporting due diligence and reporting.

Qualifications

• Two years of investment experience in public pension or similar institutional setting.
• Strong ability to analyze investment performance, asset allocation, and market trends.
• Experience preparing reports and presentations for Board-level audiences.

Responsibilities

• Independently researching and analyzing investment performance, asset allocation, market trends, investment managers, and investment policies.
• Monitoring portfolio compliance, investment guidelines, proxy voting activities, and regulatory developments affecting the Investment Program.
• Preparing comprehensive investment reports, Board and Investment Committee meeting materials, presentations, and meeting minutes.
• Performing portfolio monitoring, investment manager performance evaluations, compliance reviews, and exception reporting.
• Evaluating financial and economic data to identify trends, risks, and issues requiring management attention.
• Supporting due diligence reviews, manager searches, investment implementation projects, and portfolio rebalancing.

Skills

Investment analysis

Financial analysis

Advanced Excel

Data interpretation

Education

Bachelor's degree in economics/finance

Tools

Microsoft Excel

AI tools

Job description

Position Information

Bring your financial analysis experience to the County of Sonoma as a Retirement Investment Analyst II.

Starting salary up to $67.04/hour ($139,920/year) and a competitive total compensation package!*

The Sonoma County Employees' Retirement Association (SCERA) is currently recruiting to fill a Retirement Investment Analyst position at either the I or II level, depending on qualifications. If you are interested in being considered at the I level of this opportunity, you must apply to the separate concurrent recruitment being conducted for that level.

Join Our Team

SCERA is a small office that values customer service, collaboration, professionalism, consistency, proactive planning, flexibility, and innovative problem-solving. We are committed to creating a diverse, equitable, and inclusive workplace where individuals from all backgrounds are welcomed, supported, and empowered to reach their full potential.

The Retirement Investment Analyst II is the journey level class in the Retirement Investment Analyst series characterized by the responsibility to conduct detailed data collection and analysis for use by SCERA management and the Board of Retirement in the evaluation of the Investment Program. The incumbent works under the general supervision and guidance of a higher-level Investment Officer.

The Retirement Investment Analyst II is distinguished from the class of Retirement Investment Analyst I in that the latter is an entry level class and requires the incumbent to work under close supervision. This class is distinguished from the class of Retirement Investment Officer in that the latter assists in the administration of SCERA's Investment Program.

Strong Retirement Investment Analyst II candidates will have investment experience in a public agency or financial institution which involved financial analysis, investment analysis, economic analysis, and/or investment reporting or performance measurement and the proven ability to work independently. This position requires prolonged concentration while analyzing detailed financial, economic, and investment information. You will be working with large datasets, complex spreadsheets, and technical investment data. Other responsibilities of this position include:

• Independently researching and analyzing investment performance, asset allocation, market trends, investment managers, and investment policies
• Monitoring portfolio compliance, investment guidelines, proxy voting activities, and regulatory developments affecting the Investment Program
• Preparing comprehensive investment reports, Board and Investment Committee meeting materials, presentations, and meeting minutes
• Performing portfolio monitoring, investment manager performance evaluations, compliance reviews, and exception reporting
• Evaluating financial and economic data to identify trends, risks, and issues requiring management attention
• Supporting due diligence reviews, manager searches, investment implementation projects, and portfolio rebalancing
• Serving as a technical resource within the Investment Division while collaborating with consultants, custodians, and investment managers
• Tracking investment manager and consulting fees and assisting with investment due diligence activities
• Attending monthly Board and Investment Committee meetings, events, and educational conferences to develop knowledge of institutional investing
• Performing special analytical projects requiring independent judgment and technical expertise
• Exercising independent judgment in conducting investment research and financial analysis
• Independently preparing reports and recommendations for review by senior investment staff
• Determining appropriate analytical methods and identifying issues requiring additional review
• Consulting with senior investment staff regarding complex investment recommendations, policy interpretations, and strategic matters
• Collaborating with consultants and service providers while ensuring work aligns with Board policy and established procedures

Note: This position has standard weekly business hours with occasional early morning, evening, or extended hours to accommodate Board and Investment Committee meetings, events, or travel. There will be periodic travel for conferences, educational programs, and investment manager due diligence visits.

The ideal candidate for this position will be a collaborative team member with the ability to explain technical information clearly. They will be receptive to coaching and continuous learning with an interest in public pension investments and fiduciary responsibilities. In addition, they will possess many of the following:

• Two or more years of investment experience within a public pension system, investment consulting firm, financial institution, or institutional investment environment which involved financial analysis, investment analysis, economic analysis, and/or investment reporting or performance measurement
• Advanced coursework in portfolio management, investment performance measurement, or risk management
• Working knowledge of institutional asset allocation, investment performance measurement, benchmarking, and compliance monitoring
• Knowledge of public pension governance and fiduciary responsibilities
• Strong analytical and quantitative reasoning skills
• Continuing education in institutional investing, public pension governance, fiduciary responsibilities, and alternative investments
• Advanced Microsoft Excel skills including formulas, pivot tables, charts, data analysis, and financial modeling skills
• Strong customer service and relationship-building skills with internal and external stakeholders including consultants, managers, custodians, and Board members
• The ability to prepare clear written reports and presentations
• The ability to effectively communicate technical investment concepts to both technical and non-technical audiences
• Experience preparing investment reports and Board-level presentation materials
• Experience using AI tools to improve research, data analysis, and productivity
• The ability to balance multiple assignments with recurring reporting deadlines and changing investment priorities
• Progress toward Chartered Financial Analyst (CFA), Chartered Alternative Investment Analyst (CAIA), or similar designation is a plus

What We Offer

Working at the County of Sonoma offers expansive opportunities for growth and development, the ability to be a part of a challenging and rewarding work environment, and the satisfaction of knowing you're working to better our communities. You can also look forward to flexible work arrangements and excellent benefits* including:

• Hybrid Telework - A schedule that meets the needs of our staff, department operations, and the communities we serve may be available depending on the assignment
• Salary Advancement - A salary increase after 1,040 hours (6 months when working full-time) for good work performance; eligibility for a salary increase for good performance every year thereafter, until reaching the top of the salary range
• Paid Time Off - Competitive vacation and sick leave accruals, 12 paid holidays, and an additional 8 floating holiday hours per year
• Staff Development/Wellness - Annual benefit allowances of up to $2,000 and ongoing education/training opportunities
• County Paid Health Premium Contributions - 100% premium contribution for the majority of employee-only and employee + family health plan options
• Post-Retirement Health Reimbursement Arrangement - County contributions to help fund post-retirement health insurance/benefits
• Retirement - A pension fully integrated with Social Security
• Incentive Retirement Savings Plan (IRSP) and 457 Voluntary Deferred Compensation - 3% of salary County contribution to a 401(a), in addition to the County matching up to 1% of base salary in 401(a), based upon employee contribution
• Paid Parental Leave - May be eligible for up to 8 weeks (320 hours) after 12 months of County employment
• Additional Benefits - Excellent dental, vision, disability, life insurance, employee assistance program, professional development, and more
• Student Loan Debt Relief - County employees may be eligible for Public Service Loan Forgiveness through the U.S. Department of Education

*Salary is negotiable within the established range. Benefits described herein do not represent a contract and may be changed without notice. Additional information can be found in the Salary Resolution (SalRes) and our Employee Benefits Directory.

This recruitment is being conducted to fill a Retirement Investment Analyst II position in SCERA. This employment list may also be used to fill future full-time, part-time, or extra-help (temporary) positions as they occur during the active status of the list. Qualified County employees who wish to be considered for future positions should consider applying to this recruitment.

Minimums

Experience and Education: Any combination of education and experience that would provide the opportunity to acquire the knowledge and abilities listed. Normally, this would include possession of a Bachelor's degree, or equivalent, in economics, finance, accounting, business/public administration which includes significant coursework in economics, quantitative analysis, financial accounting, statistics, or a closely related field AND two years of investment experience in a public agency or financial institution which involved financial analysis, investment analysis, economic analysis, and/or investment reporting or performance measurement; OR possession of a Master's degree, or equivalent, with an emphasis in any of the above listed areas and one year of professional investment experience in the above listed areas. A Chartered Financial Analyst (CFA) designation is highly desirable.

License: Possession of a valid driver's license at the appropriate level including special endorsements, as required by the State of California, may be required depending upon assignment to perform the essential job functions of the position. The position advertised on this announcement does not require possession of a valid California Driver's License.

Knowledge, Skills, and Abilities

Working knowledge of: the principles and practices of institutional investing; financial analysis; risk monitoring; economic and market trends and conditions; applicable investment laws, rules, and regulations; benchmarking; administrative analysis; statistics and actuarial analysis. Knowledge of: the principals of pension administration and retirement benefits administration. Ability to: perform complex financial analysis; prepare and write reports and present conclusions and recommendations; establish and maintain effective working relationships; effectively communicate verbally and in writing; interpret and explain laws, regulations, and policies; make presentations to Boards, management groups, department representatives, and others as needed; utilize personal computers to generate investment management analyses and presentations; analyze and evaluate systems; exercise appropriate judgment in answering questions and releasing information.

Selection Procedure & Some Helpful Tips When Applying

• Your application information and your responses to the supplemental questions are evaluated and taken into consideration throughout the entire selection process.
• You should list all employers and positions held within the last ten years in the work history section of your application. Be as thorough as possible when responding to the supplemental questions.
• You may include history beyond ten years if related to the position for which you are applying. If you held multiple positions with one employer, list out each position separately.
• Failure to follow these instructions may impact your competitiveness in this process or may result in disqualification.

The selection procedure will consist of the following examination:

An Application and Supplemental Questionnaire Appraisal Examination (weight 100%) will be conducted to evaluate each applicant's application and supplemental questionnaire for satisfaction of minimum qualifications (pass/not pass); and for educational coursework, training, experience, knowledge, and abilities which relate to this position. Personally identifiable information (PII) is removed from the standard application fields and applicable attachments. This PII blind screening practice redacts a candidate's personal information that could potentially influence or bias the scoring process. Personal information includes the applicant's name, former last name, address, phone number, email, driver's license number, school name, education start and end dates, age, date of birth, gender, and race. This PII blind screening practice helps contribute to a fair and equitable examination process.

Each applicant will be evaluated based on the following criteria:

• Relevance of work history, related experience, and achieved level of education and/or training as described in the application and responses to the supplemental questions.

Candidates demonstrating possession of the minimum qualifications will be placed on an employment list in order of most qualified to least qualified based on the achieved score received in the Application and Supplemental Questionnaire Appraisal Examination which evaluates the education, training, experience, skills, knowledge, abilities, and other qualifications that you demonstrate in your application and/or response to the supplemental questionnaire. Please be aware that resumes and cover letters are not typically evaluated in the Application and Supplemental Questionnaire Appraisal Examination. Scores may be adjusted based on such factors as the number of candidates, anticipated vacancies, past practice, and natural breaks in the scores achieved by this group of candidates.

Please note: Department Selection Interviews are anticipated to be held during the first week of November 2026.

Additional Information

A background investigation is required prior to employment. Candidates referred to departments for a selection interview are typically required to sign authorization and release forms enabling such an investigation. Failure to sign prescribed forms will result in the candidate not being considered further for that vacancy. Reference information will not be made available to candidates.

Additional requirements, such as successful completion of a physical exam, drug screen, etc., may apply, depending on the duties and responsibilities of the position. If you receive a conditional job offer for the position, the requirements upon which the offer is contingent will be outlined in the conditional job letter. You may also review theJob Classification Screening Scheduleto determine the requirements for this position.

The County of Sonoma values diversity and is dedicated to creating a workplace environment that provides individuals with a sense of belonging. We are committed to having a diverse workforce that is representative of the communities we serve. The County is proud to be an Equal Opportunity Employer where all aspects of employment are based on merit, competence, performance, and business need.