Retirement Investment Officer - Compliance

State of Iowa - Executive Branch; Des Moines (IA); On-site; USD 110,000 - 165,000; Full time

Benefits offered by this job

Defined-benefit pension

Health insurance

Dental benefits

Generous paid time off

9 paid holidays

Employee discounts

Job summary

The Iowa Public Employees’ Retirement System (IPERS) invites qualified applicants for the Retirement Investment Officer role based in Des Moines. You will help manage a $14B+ private markets portfolio across private credit, real assets, private equity, and co-investments, conduct deep analysis, and support asset allocation and risk management.

The position emphasizes collaboration in a flat environment, ongoing professional development (CFA/CAIA encouraged), executive briefing to the IPERS

Qualifications

• Four-year degree in finance, economics, business, or quantitative field and three years of portfolio management/research experience.
• Advanced degrees or professional designations encouraged for growth.

Responsibilities

• Assist in overseeing IPERS’ private markets portfolio across private credit, real assets, private equity, and co-investments.
• Research emerging investment themes and identify high-potential opportunities.
• Develop financial forecasts, conduct cost-benefit analyses, and draft investment memos and presentations.
• Analyze private market returns and validate management fees.
• Collaborate on deal underwriting, select investments, and negotiate terms.
• Monitor investment accounts and participate on external Advisory Boards.
• Contribute to asset allocation, portfolio construction, and risk management.
• Prepare detailed portfolio updates for the IPERS Investment Board.

Skills

Analytical skills

Communication

Collaborative approach

Low-hierarchy environment

Education

Finance/Economics/Quant fields degree

CFA/CAIA designation desirable

Tools

Investment software

Job description

Retirement Investment Officer

The Iowa Public Employees' Retirement System (IPERS) is the fiduciary responsible for administering the IPERS Trust Fund. IPERS members represent most of Iowa’s hard-working public sector employees, including educators, first responders, law enforcement and more. IPERS’ mission is to support its membership – Iowa’s public workforce – with the prudent management of the IPERS Trust Fund.

Job Description

What You’ll Do

• Manage Portfolio Assets: Assist in overseeing IPERS’ $14B+ private markets portfolio across private credit, real assets, private equity, and co-investments.
• Sourced New Opportunities: Research emerging investment themes and identify high-potential primary investments and co-investments.
• Conduct Deep Analysis: Develop precise financial forecasts, execute cost-benefit analyses, and draft comprehensive investment memos and presentations.
• Evaluate Performance Metrics: Analyze private market returns, rigorously validate management fees, and maintain specialized investment software.
• Lead Deal Execution: Collaborate on deal underwriting, select investments, and negotiate strategic business terms.
• Represent the System: Monitor assigned investment accounts and actively participate on external Advisory Boards.
• Optimize Portfolio Strategy: Contribute directly to asset allocation, portfolio construction, risk management, and annual investment planning.
• Brief Executive Leadership: Prepare and present detailed, high-level portfolio performance updates directly to the IPERS Investment Board.

Candidates are encouraged to include detailed information about their relevant experience in their application or submit a cover letter and resume in addition to their application.

Desirable Qualifications

The ideal candidate for this role possesses direct private market investment experience, strong analytical skills for evaluating complex alternative asset metrics, and excellent communication abilities. Furthermore, they are required to have a collaborative approach to low-hierarchy environments and hold advanced degrees or professional designations such as CFA or CAIA.

If you wish to review a copy of the Position Description Questionnaire, please contact [e-mail]

Final candidates will be subject to a background check.

Hours

8:00 a.m. - 4:30 p.m., Monday - Friday; some nights and weekends, occasional in-state and out-of-state travel.

A successful candidate will bring or have the ability and desire to learn

• Allocating Across Private Markets: Hands-on experience or structural knowledge regarding alternative investments, specifically targeting private credit, real assets, private equity, and co-investments.
• Complex Financial Modeling: Advanced capabilities to forecast asset metrics, execute cost-benefit analyses, and validate performance fees.
• Institutional-Grade Data Analysis: Proficiency in maintaining specialized investment software and leveraging quantitative metrics to build actionable investment summaries.
• Strategic Deal Negotiation: Aptitude for reviewing and structuring complex business terms, making formal pitches, and monitoring institutional accounts.
• Low-Hierarchy Collaboration: Adaptability to work fluidly within a flat corporate environment, actively leading peer-driven due diligence and cross-team projects.
• Boardroom Communication: Skills to synthesize complicated financial data into polished presentations for high-level brief sessions with executive leadership and the Investment Board.
• Continuous Industry Education: Commitment to pursuing or maintaining elite professional credentials (such as CFA or CAIA) and advanced market research trends.

Why You’ll Love This Role

• High-Stakes Impact: Directly help manage and optimize IPERS' massive $14B+ private markets portfolio to secure the financial future of over 400,000 public servants.
• Flat Organization Culture: Work closely with senior leaders in a highly collaborative, low-hierarchy environment where your ideas are valued and your professional growth is prioritized.
• Diverse Asset Exposure: Gain comprehensive, institutional-grade experience allocating across private credit, real assets, private equity, and co-investments.
• Global Perspective: Stay ahead of market trends through strategic research and conduct periodic out-of-state travel for asset due diligence.
• Top-Tier Retirement Stability: Secure your own future with enrollment in IPERS’ revered defined-benefit pension plan, recognized as one of the healthiest and most stable public funds in the nation.
• Excellent State Benefits: Enjoy a comprehensive, highly affordable state health insurance and dental package along with strong work-life balance policies.
• Reclaim your personal time with massive paid time off packages, including generous vacation accrual, separate sick leave, and 9 paid statutory holidays every year.
• Employee discounts from a variety of vendors
• Competitive salary and benefits package:

https://das.iowa.gov/sites/default/files/hr/documents/employment/Benefits_Beyond_the_Paycheck.pdf (Download PDF reader)

(Download PDF reader)

E-Verify and Right to Work

The State of Iowa participates in E-Verify, a federal program that helps employers confirm the employment eligibility of all newly hired employees. Within the required timeframe, new hires will be verified through the E-Verify system to ensure authorization to work in the United States. The State of Iowa also complies with the federal Right to Work laws, which protect employees’ rights to work without being required to join a labor organization. For more information, please visit www.e-verify.gov .

Minimum Qualification Requirements

• Graduation from an accredited four-year college or university with a degree in finance, economics, business administration, or a quantitative field (e.g., mathematics, engineering, computational finance, physics, etc.), and experience equal to three years of full-time work in investment portfolio management or research for a stock exchange, investment or banking firm, public or private pension system, or treasurer's office.
• All of the following (a and b):
• Three years of full-time work experience in investment portfolio management or research for a stock exchange, investment or banking firm, public or private pension system, or treasurer's office; and
• A total of four years of education and/or full-time experience (as described in part a), where thirty semester hours of accredited college or university course work in finance, economics, business administration, or a quantitative field (e.g., mathematics, engineering, computational finance, physics, etc.) equals one year of full-time experience.

For additional information, please click on this link to view the job description.