CFO​/Director of Financial Services

CFO/Director of Financial Services Classification: Managing Director, Administration and Operations; or Managing Director, Investments

• 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 the SBI compensation structure features a fixed, cash-based model that does not include incentive compensation.

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.

is seeking a highly experienced and mission-driven Chief Financial Officer / Director of Financial Services to lead our Financial Services Division. This is a rare opportunity for a seasoned leader to play a critical role within a highly regarded, $170 billion public-sector institutional investment organization.

We are seeking a strategic, collaborative executive with deep expertise in financial leadership, operational excellence, and institutional investment governance. This role offers the opportunity to make a meaningful impact at an organization where fiduciary responsibility, purpose, and performance matter every day.

We offer an industry-competitive salary and a strong benefits package commensurate with experience.

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 $170 billion in assets, making it one of the largest public pension fund investors in the United States. Governed by a board consisting of the four constitutional officers of the State of Minnesota, the SBI is widely regarded as a best-in-class institutional investor and a model of sound public investment management, led by a highly skilled, dedicated, professional staff that operates with a strong culture of fiduciary excellence, integrity, and collaboration.

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 leader to assume a crucial 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.

• 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 retirement organizations, as directed. Provide executive leadership for cross-functional initiatives and serve as a trusted advisor to the SBI’s Executive Director on strategic, financial, and operational matters.
• Team…