Description
Deputy Chief Investment Officer
Governors Exempt Position
The Deputy Chief Investment Officer (Deputy CIO or DCIO) serves as a senior leader within the investment division, supporting the CIO in the development, implementation, and oversight of the pension fund’s investment program. This role provides strategic leadership across asset classes, ensures disciplined portfolio construction and risk management, and helps drive investment performance consistent with the fund’s long-term objectives and fiduciary responsibilities.
The Deputy CIO acts as a key advisor to the CIO and may represent the investment program in interactions with the Board of Trustees, Investment Committee, and external stakeholders. The role often includes direct oversight of investment teams and serves as acting CIO in the CIO’s absence.
Responsibilities include:
1. Asset Allocation. Partner with the CIO in developing and implementing total fund investment strategy. Contribute to strategic asset allocation, portfolio construction, and risk budgeting. Provide leadership on macroeconomic outlook, capital market assumptions, and thematic investment opportunities. Ensure alignment of investment strategy with the fund’s liabilities and long-term return objectives.
2. Portfolio Monitoring. Oversee portfolio construction and implementation across private markets, including private equity, private credit, real assets, diversifying assets and hedge funds. Monitor portfolio performance, risk exposures, and liquidity at the total fund level. Ensure consistency of investment decisions with policy benchmarks and guidelines.
3. External Oversight. Oversee selection, evaluation, and monitoring of external investment managers. Participate in due diligence and investment committee decisions for significant allocations. Ensure effective governance and alignment of interests with external partners.
4. Management and Leadership. Provide leadership and oversight to portfolio managers and investment staff across asset classes. Mentor senior investment professionals and support talent development and succession planning. Foster a high-performance, collaborative, and accountable culture within the investment team.
5. Investment Accounting and Operations. Ensure the effectiveness of investment operations, systems, and data infrastructure. Support operational excellence, including trade processing, valuation, performance measurement, and reporting. Drive initiatives to enhance investment technology, analytics, and data governance.
6. Board Interaction. Prepare and present materials to the Investment Committee and Board of Trustees. Communicate investment strategy, performance, and risk in a clear and transparent manner. Support policy development, including investment beliefs, guidelines, and governance frameworks.
7. DCIO Responsibilities. Serve as acting CIO in the absence of the CIO. Provide continuity of leadership and decision-making authority as needed.
8. Significant travel may be required for this position.
DCIO Requirements:
A bachelor’s degree with a strong academic record and minimum of twelve to 20 years (12-20) years of directly related professional experience is required; Applicable education includes investment management, business administration, accounting, financial management, economics, mathematics, statistics, or related field. An understanding of financial theory and statistical measures is required
Excellent interpersonal, communication, presentation, report writing and organizational skills.
Intellectual curiosity, humility, tenacity, and professional flexibility.
Advanced degree (MBA or similar) strongly preferred
Progress toward Chartered Financial Analyst (CFA), Chartered Alternative Investment Analyst (CAIA), or related designations strongly preferred
Private market fund or direct investment experience is a plus.
The position is assigned to NMERB’s Santa Fe office. Pre-employment background investigation is required and is conditional pending results. Occasional travel and attendance at our bi-monthly Board meetings is required.
The New Mexico Educational Retirement Board (NMERB), an independent statutory agency of the State of New Mexico. This position reports to the Chief Investment Officer and is subject to applicable policies as they pertain to Governors exempt employees and conditions outlined by the Board.
Application Process: Interested candidates should submit a cover letter, transcripts and resume to Steve Neel, Chief Investment Officer, at Steve.Neel@erb.nm.gov.
Applications will be accepted on a continuous basis until the position is filled. Only candidates chosen to participate in interviews will be contacted. Posting will remain open until filled.
THE NEW MEXICO EDUCATIONAL RETIREMENT BOARD IS AN EQUAL OPPORTUNITY EMPLOYER
Requirements
Responsibilities include:
1. Asset Allocation. Partner with the CIO in developing and implementing total fund investment strategy. Contribute to strategic asset allocation, portfolio construction, and risk budgeting. Provide leadership on macroeconomic outlook, capital market assumptions, and thematic investment opportunities. Ensure alignment of investment strategy with the fund’s liabilities and long-term return objectives.
2. Portfolio Monitoring. Oversee portfolio construction and implementation across private markets, including private equity, private credit, real assets, diversifying assets and hedge funds. Monitor portfolio performance, risk exposures, and liquidity at the total fund level. Ensure consistency of investment decisions with policy benchmarks and guidelines.
3. External Oversight. Oversee selection, evaluation, and monitoring of external investment managers. Participate in due diligence and investment committee decisions for significant allocations. Ensure effective governance and alignment of interests with external partners.
4. Management and Leadership. Provide leadership and oversight to portfolio managers and investment staff across asset classes. Mentor senior investment professionals and support talent development and succession planning. Foster a high-performance, collaborative, and accountable culture within the investment team.
5. Investment Accounting and Operations. Ensure the effectiveness of investment operations, systems, and data infrastructure. Support operational excellence, including trade processing, valuation, performance measurement, and reporting. Drive initiatives to enhance investment technology, analytics, and data governance.
6. Board Interaction. Prepare and present materials to the Investment Committee and Board of Trustees. Communicate investment strategy, performance, and risk in a clear and transparent manner. Support policy development, including investment beliefs, guidelines, and governance frameworks.
7. DCIO Responsibilities. Serve as acting CIO in the absence of the CIO. Provide continuity of leadership and decision-making authority as needed.
8. Significant travel may be required for this position.
DCIO Requirements:
A bachelor’s degree with a strong academic record and minimum of twelve to 20 years (12-20) years of directly related professional experience is required; Applicable education includes investment management, business administration, accounting, financial management, economics, mathematics, statistics, or related field. An understanding of financial theory and statistical measures is required
Excellent interpersonal, communication, presentation, report writing and organizational skills.
Intellectual curiosity, humility, tenacity, and professional flexibility.
Advanced degree (MBA or similar) strongly preferred
Progress toward Chartered Financial Analyst (CFA), Chartered Alternative Investment Analyst (CAIA), or related designations strongly preferred
Private market fund or direct investment experience is a plus.
