Head of Securitized and Rates, Global Fixed Income

Investment Director

CalPERS is seeking an Investment Director to lead the Global Fixed Income, Securitized Products, and Rates team and advance the investment objectives of the Public Employees' Retirement Fund. Duties may include, but are not limited to:

• Lead the management of the Public Employees' Retirement Fund's securitized and rates portfolios, with responsibility for portfolio strategy, performance, and risk oversight.
• Direct investment activity across agency mortgage-backed securities (MBS), securitized credit, and rates strategies involving a broad range of security types, including U.S. Treasuries, agency and non-agency MBS, CMOs, CMBS, CLOs, ABS, home equity loans, and hybrid ARMs.
• Serve as a senior leader within Global Fixed Income, contributing to asset allocation decisions and sector strategy for the unit.
• Provide regular market insights on securitized sectors, including supply and demand trends, relative value, volatility, swap market dynamics, and yield curve outlook.
• Evaluate relative value opportunities and risks to support portfolio construction and investment performance.
• Collaborate with internal stakeholders, including risk, research, and senior investment leadership, to support fund-wide objectives.
• Mentor investment staff and help foster a high-performing investment team.

Telework Information:
This position is eligible for a hybrid work schedule, with up to two days of remote work and three days or more onsite, per week.

CalPERS does not participate in E-Verify for employment authorization purposes.