The California State Teachers’ Retirement System (CalSTRS) is seeking to appoint a new Chief Executive Officer (CEO) to succeed Jack Ehnes, who has announced his upcoming retirement. The CEO is the executive and administrative head of the System and operates the System within the framework established by the State Constitution, State laws, and in accordance with rules and policies adopted by the Board. The CEO oversees annual contribution inflows of over $14.5 billion and annual expense outflows for benefit payments of approximately $16 billion. The CEO manages an annual operating budget of approximately $307 million and provides leadership and direction to approximately 1,240 CalSTRS staff.
The California State Teachers’ Retirement System was established by law in 1913 to provide retirement benefits to California’s public school educators from pre-kindergarten through community college. Today, CalSTRS is the largest educator-only pension fund in the world and the second largest pension fund in the United States, with funds under management of approximately $275 billion.
This CEO needs to be an outstanding leader of people, able to bring to life a vision that will ignite the organization and energize the operating platforms, someone who can expand the boundaries of the business model, maximize financial performance, and manage through market cycles. The CEO is expected to bring fresh, innovative perspectives to CalSTRS. They will have overall responsibility for team development and collaboration, building trust between teams as necessary.
We are looking for a seasoned and respected professional to do the following:
Building and executing strategy: Provide vision, direction, inspiration, and motivation to CalSTRS staff. Oversee and implement the organization’s multi-year strategic and business plan. Ensure that the organization is adhering to its mission, vision, values, and culture of ethics.
Delivering operational excellence: Provide oversight of all program areas and ensure the efficient and effective functioning of the System.
Forging a strong relationship with the Board: Maintain open and constructive relations with the board and work to build consensus whenever possible. Provide guidance to the board regarding legislative proposals and board policies to ensure that the board’s fiduciary responsibilities are adequately addressed.
Providing organizational leadership: Provide a global reach and influence organizations and policy makers. Exhibit leadership among public retirement systems in California and nationwide. Inspire confidence and establish credibility with board, staff, legislators, constituency groups, and stakeholders.
The position is based at CalSTRS’ headquarters in West Sacramento, California.
Sacramento is the capital of California, located at the confluence of the Sacramento and American Rivers. The city is home to roughly 514,000 people, and Sacramento County to over 1.5 million. Hailed as one of the most ethnically diverse and livable cities in America, it got its start as a supply center for prospectors from around the globe during the 1849 Gold Rush. Since 1854, the city has served as the political nucleus of the nation's most influential state, with the sixth-largest economy in the world.
Boasting more than 250 days of sunshine each year, the city invites residents and visitors to enjoy a variety of outdoor activities, from whitewater rafting to hiking and bicycling, as well as many parks and festivals. It also features venues such as Golden 1 Center (home of the NBA Sacramento Kings), Sacramento Zoo, Historic Old Sacramento and the Waterfront, the State Capitol building and many museums and attractions. Also known as the Farm-to-Fork Capital, it offers a variety of restaurants, breweries and wineries. One can travel to Napa Valley, Lake Tahoe or San Francisco in two hours or less. To learn more, visit the following websites:
The candidate must be able to demonstrate the following:
Experience leading organizations of similar scale and complexity
Experience executing multi-year, large-scale plans and projects
Exposure to and involvement in relationships with boards and external stakeholders
Exposure to and involvement in relationships with government agencies
Having worked at reputable, value-driven organizations
Ideally, experience driving environmental, social and governance agendas across an organization
The candidate should also possess the following critical competencies:
A bachelor’s degree or equivalent is required.
Securing the financial future and sustaining the trust of California’s educators.
As a world-class financial services institution and state agency, CalSTRS’ organizational culture emphasizes customer service, leadership and respect for our members and colleagues. We value our employees and encourage an environment motivated by our core values: Customer Service, Accountability, Leadership, Strength, Trust, Respect and Stewardship.
CalSTRS is a great place to work because we have a meaningful mission and we support the health and well-being of our employees. Our leadership team champions our collaborative and service-oriented culture as we work to secure the financial future of California’s educators.
To apply for this position, please send resume and statement of qualifications to:
The final filing date for this position is March 1st, 2021.
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