Sustainable Investments Associate Investment Manager

ImpactAlpha; California; Hybrid; USD 120,000 - 180,000; Full time

Benefits offered by this job

Annual incentive awards

Long-term incentive program

Health benefits

Leave programs

Flexible work hours

Hybrid work schedule

Onsite childcare facility

Onsite fitness center

Onsite café nearby

Free onsite parking

Free offsite parking with shuttle

Job summary

CalPERS, the nation’s largest public pension fund, is seeking an Associate Investment Manager to advance the integration of financially material sustainability factors into its investment process. The role centers on public markets (Global Fixed Income and Global Equity) and requires leading the development of analytics and dashboards to support climate investment objectives.

The position offers a hybrid schedule (up to two days remote) with occasional travel, and opportunities to influence

Qualifications

• Meet all Minimum Qualifications as stated in the Classification Specification for Associate Investment Manager, Public Employees’ Retirement System
• Submit a Statement of Qualifications (SOQ) addressing specified questions; applications without SOQ will not be considered
• Complete the Supplemental Questionnaire; applications without it will not be considered
• Be eligible for one of the following: currently in the classification, eligible for lateral transfer, eligible for reinstatement, have list or LEAP eligibility, be in the process of obtaining list eligibility, or have SROA and/or Surplus eligibility
• Pass an examination to establish list eligibility prior to any type of job offer
• Submit to criminal history review process utilizing Live Scan fingerprinting
• Complete additional background screening prior to employment
• Qualify for a Surety Bond
• Comply with Personal Trading Regulations and Conflict of Interest Code requirements
• File a Statement of Economic Interest (Form 700)

Responsibilities

• Partner with CalPERS investment teams across asset classes with a primary focus on public markets (Global Fixed Income, Global Equity) to integrate financially material sustainability considerations into investment decision-making
• Conduct investment research and due diligence to support portfolio advisory functions related to sustainability factors
• Contribute to the development of methodologies, investment frameworks, dashboards, and reporting that support the organization’s long-term sustainability and climate investment objectives
• Support sustainability analytics and data strategy initiatives to advance climate investment objectives
• Lead the identification, evaluation, and synthesis of emerging sustainability and climate-related investment research from academic institutions, asset managers, sell-side research, industry organizations, and policy developments
• Develop and maintain investment tools that facilitate sustainability analysis across the portfolio

Job description

About California Public Employees’ Retirement System (CalPERS)

California Public Employees’ Retirement System (CalPERS) is a global institutional investor and the nation’s largest public pension fund, with assets of approximately $655.89 billion as of October 2026. Headquartered in downtown Sacramento, CalPERS serves as a destination employer with an international reputation for leadership and innovation in the investment management industry. The organization manages retirement and health benefits for public employees, educators, and their families across California. CalPERS is committed to its core mission of providing secure retirement benefits and health coverage to its members while serving the broader community. The organization maintains a strong commitment to diversity, equity, and inclusion, recognizing that talent, experience, and expertise are valued across a diverse and inclusive workforce. CalPERS is strategically located near major California destinations including Napa Valley, San Francisco, and Lake Tahoe, positioning it as an attractive employer for investment professionals. The organization offers competitive benefit packages and compensation structures, along with meaningful opportunities for career advancement. CalPERS’ decision-making and actions are guided by its Investment Beliefs and Mission & Vision, which emphasize responsible stewardship of pension assets and commitment to sustainable investing practices. The organization does not participate in E-Verify for employment authorization purposes.

About this Role

The Sustainable Investments group at CalPERS is seeking an Associate Investment Manager to play a central role in advancing the organization’s integration of financially material sustainability factors into its investment process. This role is critical to supporting CalPERS’ commitment to investing in climate solutions as a driver of portfolio resilience and performance. The position offers an opportunity to influence investment decision-making across multiple asset classes while contributing to the development of innovative sustainability frameworks and analytical tools. The Associate Investment Manager will work collaboratively across CalPERS’ investment teams with a primary focus on public markets, including Global Fixed Income and Global Equity. The successful candidate will contribute to building methodologies, investment frameworks, dashboards, and reporting systems that support the organization’s long-term sustainability and climate investment objectives. This position also involves leading the identification, evaluation, and synthesis of emerging sustainability and climate-related investment research from academic institutions, asset managers, sell-side research, industry organizations, and policy developments. This position is eligible for a hybrid work schedule, with up to two days of remote work and three or more days onsite per week. The role may require occasional travel. Candidates selected for this position will be subject to criminal history review utilizing Live Scan fingerprinting, additional background screening, and must be able to qualify for a Surety Bond. Upon employment, team members are subject to Personal Trading Regulations and Conflict of Interest Code requirements, including 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).

Responsibilities

• Partner with CalPERS investment teams across asset classes with a primary focus on public markets (Global Fixed Income, Global Equity) to integrate financially material sustainability considerations into investment decision-making
• Conduct investment research and due diligence to support portfolio advisory functions related to sustainability factors
• Contribute to the development of methodologies, investment frameworks, dashboards, and reporting that support the organization’s long-term sustainability and climate investment objectives
• Support sustainability analytics and data strategy initiatives to advance climate investment objectives
• Lead the identification, evaluation, and synthesis of emerging sustainability and climate-related investment research from academic institutions, asset managers, sell-side research, industry organizations, and policy developments
• Develop and maintain investment tools that facilitate sustainability analysis across the portfolio

Requirements

• Meet all Minimum Qualifications as stated in the Classification Specification for Associate Investment Manager, Public Employees’ Retirement System
• Submit a Statement of Qualifications (SOQ) addressing specified questions; applications without SOQ will not be considered
• Complete the Supplemental Questionnaire; applications without it will not be considered
• Be eligible for one of the following: currently in the classification, eligible for lateral transfer, eligible for reinstatement, have list or LEAP eligibility, be in the process of obtaining list eligibility, or have SROA and/or Surplus eligibility
• Pass an examination to establish list eligibility prior to any type of job offer
• Submit to criminal history review process utilizing Live Scan fingerprinting
• Complete additional background screening prior to employment
• Qualify for a Surety Bond
• Comply with Personal Trading Regulations and Conflict of Interest Code requirements
• File a Statement of Economic Interest (Form 700)

Benefits

• Eligible for annual and long-term incentive awards with annual incentive opportunity of 0-60% of salary based on level of achievement against quantitative and qualitative measures
• Long-term incentive program providing an additional opportunity of 0-60% of base salary beginning after five years when absolute total fund returns meet or exceed board-approved thresholds
• Health benefits available for most team members
• Leave programs available for most team members
• Alternate work schedules
• Flexible work hours
• Hybrid work schedule eligibility (up to two days remote, three or more days onsite per week)
• Onsite childcare facility
• Onsite fitness center
• Onsite café and nearby restaurants
• Free onsite parking available Mondays and Fridays
• Free offsite parking available with shuttle service Tuesdays, Wednesdays, and Thursdays
• Benefit eligibility may depend on length of service and collective bargaining agreements
• Opportunities for career advancement in a diverse and inclusive workforce