CFO/Director of Financial Services
Listed on 2026-08-03
-
Finance & Banking
CFO, Financial Manager, Financial Compliance, VP/Director of Finance -
Management
CFO, Financial Manager
Established in 1885, the Minnesota State Board of Investment (SBI) serves the State of Minnesota by investing the assets of state and local employee benefit plans, other public retirement savings plans, tax-advantaged savings plans, and non-retirement assets. The SBI manages more than $160 billion in assets, making it one of the largest public pension fund investors in the United States. Governed by the four constitutional officers of the State of Minnesota, the SBI is widely regarded as a model of sound public investment management, operating with a small, highly skilled professional staff and a strong culture of fiduciary excellence, integrity, and innovation.
Working Title:
Chief Financial Officer (CFO)/Director of Financial Services
Job Class:
Managing Director, Administration and Operations
-OR
- Managing Director, Investments
Agency:
Minnesota State Board of Investment (SBI)
- Job : 95776
- Location
:
St. Paul - Telework Eligible
: SBI currently utilizes a hybrid model, with weekly anchor days required. This is subject to change at the discretion of the SBI Executive Director. - Full/Part Time
:
Full Time - Who May Apply
:
Open to all qualified job seekers - Date Posted
: 07/24/2026 - Closing Date
: 08/21/2026 - Hiring Agency/Seniority Unit
:
Investment Board - Division/Unit
:
State Board of Investment(SBI) / Executive - Work Shift/Work Hours
:
Shift - Days of Work
:
Monday - Friday - Travel Required
:
Up to 5% - Salary Range(s):
- Managing Director, Administration and Operations: $255,467 - $346,650 annually
- Managing Director, Investments: $327,357 - $423,655 annually
* The SBI offers an excellent and comprehensive benefits package. Listed salary ranges reflect total cash compensation. Note that positions are not eligible for incentive compensation.
At the State of Minnesota, employees play a critical role in developing policies, providing essential services, and working to improve the well-being and quality of life for all Minnesotans. The State of Minnesota is committed to equity and inclusion, and invests in employees by providing benefits, support resources, and training and development opportunities.
Job SummaryAbout the SBI:
Established in 1885, the Minnesota State Board of Investment (SBI) serves the State of Minnesota by investing the assets of state and local employee benefit plans, other public retirement savings plans, tax-advantaged savings plans, and non-retirement assets. The SBI manages more than $160 billion in assets, making it one of the largest public pension fund investors in the United States. Governed by the four constitutional officers of the State of Minnesota, the SBI is widely regarded as a model of sound public investment management, operating with a small, highly skilled professional staff and a strong culture of fiduciary excellence, integrity, and innovation.
About the Opportunity:
The SBI is conducting a search for a highly experienced and mission-driven Chief Financial Officer (CFO) / Director of Financial Services to lead its Financial Services Division. This senior executive position represents a unique opportunity for a seasoned public sector finance leader to assume a critical role within a leading public-sector institutional investment organization.
Reporting to the Deputy Executive Director and serving as a member of the Senior Leadership Team, this position is responsible and accountable for financial and accounting operations, custody banking, internal controls, financial technology systems, budgeting, and the annual financial audit. The CFO directs a team of finance, accounting, compliance, and investment operations professionals and is an important senior contributor to the SBI.
Primary Responsibilities
The CFO / Director of Financial Services will be responsible for the following primary areas:
- Strategic and Executive Leadership (Ongoing): Serve on the SBI s Senior Leadership Team and contribute to enterprise strategy, organizational decision-making, and the development and execution of agency priorities. Represent the SBI with professionalism and an executive presence in meetings, presentations, and external forums, including with board, legislative, and member…
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