This is not a timed examination. If you request a Reasonable Accommodation, your account will be locked and you will not be able to proceed with the examination until the request is processed.

The information below will help you determine which classification(s) is(are) appropriate for you. Applicants must meet the Minimum Qualifications as stated on this bulletin to compete in this examination.

Open and Open, Non-Promotional Examination(s):

• INVESTMENT DIRECTOR, PUBLIC EMPLOYEES' RETIREMENT SYSTEM - Open

For all Classifications, once you have participated in any of the following examinations, you may not recompete for 6 months:

Exam Code(s):

1770

For INVESTMENT DIRECTOR, PUBLIC EMPLOYEES' RETIREMENT SYSTEM , once you have participated in any of the following examinations, you may not recompete for 6 months:

Exam Code(s):

• EX-01770

Submit an Examination/Employment Application (STD 678) to apply for this examination.

Electronic applications can be submitted through your account at www.CalCareers.ca.gov.

If you require assistance or alternative testing arrangements due to a disability, indicate on your application that you need reasonable accommodation. You will be contacted by a representative of the testing department to make the necessary arrangements. If you have not been contacted by the time you receive notification of testing, please contact the testing department listed in the Contact section of this bulletin.

If you are unable to submit your application or complete the test due to a disability, please contact the testing department listed in the Contact section of this bulletin.

All applicants must meet the education and/or experience requirements as stated on this exam bulletin to be accepted to the examination.

Unless otherwise stated in the Minimum Qualifications, qualifying experience may be combined on a proportionate basis if the requirements stated below include more than one pattern and are distinguished as "Either" 1, "or" 2, "or" 3, etc. For example, applicants possessing qualifying experience amounting to 50% of the required time of Pattern 1 and additional experience amounting to 50% of the required time of Pattern 2 may be accepted to an examination as meeting 100% of the overall experience requirement.

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This examination consists of the following component(s):

A final score of 70% must be attained to be placed on the eligible list.

In addition to evaluating the applicant's relative knowledge, skill and ability as demonstrated by quality and breadth of education/experience, emphasis in each test component will be on measuring competitively, relative to job demands, each applicant's:

1. Management techniques and practices related to institutional investments, including portfolio design and construction, asset allocation, risk management, due diligence and financial analysis, and acquisition and sale of investments
2. Various types of investments and their characteristics, and their markets and methods of purchase and financing
3. Fiduciary principles and ethics
4. Economic principles and trends and their impact on investment portfolios
5. Sources of data and analytical techniques used to analyze and value investments
6. Quantitative techniques used to analyze investments
7. Principles and practices of supervision, including the manager’s and supervisor’s responsibility for promoting equal opportunity in hiring and employee development and promotion, and for maintaining a work environment that is free of discrimination and harassment
8. Types and uses of various investment styles, strategies, and legal structures, including partnerships
9. External management and consulting resources
10. Economic data, institutions, and analytical methods
11. Assessment tools to evaluate political risks as it affects investment environment and currency markets and their fluctuation
12. Management techniques and practices related to institutional investments in multiple asset classes, including portfolio design and construction
13. Management techniques and practices related to institutional investments within assigned asset class, including risk management
14. Management process, tools and procedures, security measures and appropriate investment technology security policies

1. Organize complex investment information, analyses, and alternatives and create written and oral presentations that can be understood by the target audience, irrespective of their level of understanding of investments and their markets
2. Establish and maintain cooperative relations with those contacted in the course of work
3. Maintain an up-to-date knowledge of economic and investment trends and ideas, and use that knowledge to develop innovative and effective investment strategies
4. Accurately monitor measure and report investment performance
5. Manage pricing and valuation strategies and control processes
6. Act as lead on projects or team assignments
7. Provide expert policy-level consultation to the Board
8. Assist in the recruitment, selection, and development of investment staff
9. Evaluate and integrate complex investment information, analyses, and alternatives, weighing the effects those decisions might have on the specific area of investment they are directly involved
10. Understand, plan, and direct the work of subordinate staff in a manner that adheres to and supports organizational goals and workplace guidelines, including effectively promoting equal opportunity in employment and maintaining a work environment that is free of discrimination and harassment
11. Gather and analyze a broad range of economic and investment information, and synthesize it into concise and coherent conclusions and recommendations
12. Work effectively with the CalPERS Board of Administration
13. Use a variety of investment and financial analysis techniques to reach decisions on the purchase and sale of investments
14. Set reasonable benchmarks and performance criteria for investments, and manage assigned portfolios consistent with risk and return objectives
15. Understand, develop, oversee and use a variety of analytical and quantitative techniques and tools to develop asset allocation recommendations and to measure and monitor risk within and across investment types
16. Work effectively with a broad variety of external contacts, such as consultants, investment managers, and investment partners, and negotiate agreements that are consistent with CalPERS interests
17. Perform various investment management and internal administrative functions to ensure investment policies and objectives are met
18. Understand and use technology applications related to investment management
19. Question legal interpretation of complex legislative, regulatory or business matters
20. Interpret complex computerized diagnostic and analytical text to bring into comprehensive decision making for investment purposes
21. Work effectively with CalPERS enterprise executive management, Investment Office Senior Management, and the CalPERS Board of Administration
22. Manage performance attribution analysis, monitor and analyze benchmark performance, establish asset valuation and pricing policies, manage the internal staff incentive compensation calculation process
23. Oversee investment performance reporting, analytics and analysis
24. Oversee daily performance attribution analysis and reconciliations
25. Act independently in making decisions and leading projects and assignments in their delegated areas and implementing strategy and policy
26. Act as lead on large and/or complex projects or assignments
27. Evaluate and integrate complex investment information, analyses, and alternatives, weighing the effects those decisions might have on their functional area
28. Assist in planning and directing a major functional area of the investment program, or a program that crosses investment types
29. Coordinate multiple major initiatives, including technology initiatives
30. Manage large-scale diverse work efforts and work force
31. Oversee and lead, as well as select and manage, external portfolio managers and consultants
32. Makes and influence decisions that have significant impact on the Fund
33. Be responsible for an entire asset class or investment program
34. Promote teamwork, collaboration and communication
35. Promote a high-performance culture
36. Evaluate and integrate complex investment information, analyses, and alternatives, weighing the effects those decisions might have on their functional area, as well as other functional areas
37. Plan and schedule resources
38. Perform various investment management and internal administrative functions on behalf of the Managing Investment Director, and act as the Managing Investment Director in his/her absence

A Departmental Open eligible list for the INVESTMENT DIRECTOR, PUBLIC EMPLOYEES' RETIREMENT SYSTEM Classification will be established for:

• Public Employees Retirement System

The names of successful competitors will be merged onto the eligible list(s) in order of final score regardless of test date. Eligibility expires 12 months after it is established. Applicants must then retake the examination to reestablish eligibility.

Veterans' Preference will be granted for this examination. Veterans' Preference is an assistance program for veterans, veteran widows and widowers, and spouses of 100% disabled veterans who seek employment with the state. Veterans' Preference is also extended to currently serving military members nearing their retirement or separation date.

You are not eligible for Veteran's Preference if you are:

• A veteran who has been dishonorably discharged or released.
• A veteran, widow or widower of a veteran, or spouse of a 100 percent disabled veteran who currently has permanent civil service status. (Permanent civil service status is the status of an employee who is lawfully retained in his/her position after completion of the applicable probationary period. This does not include limited term).

Veterans' Preference is codified in Government Code Sections 18973 – 18979.

Veteran status is verified by the California Department of Human Resources (CalHR). Directions to apply for Veterans' Preference are on the Veterans' Preference Application (Std. Form 1093), which is available at www.CalCareers.ca.gov, and the Department of Veterans Affairs.

Career Credits are not granted for examination(s) administered on an Open basis or a Promotional basis.

• Public Employees Retirement System

Technical questions regarding this examination should be directed to:

Administrative questions regarding this examination should be directed to:

California Relay Service: 1-800-735-2929 (TTY), 1-800-735-2922 (Voice). TTY is a Telecommunications Device for the Deaf, and is reachable only from phones equipped with a TTY Device.

Examination and/or Employment Application (STD 678) forms are available at the California Department of Human Resources, local offices of the Employment Development Department, and through your CalCareer Account (www.CalCareers.ca.gov).

If you meet the requirements stated on this examination bulletin, you may take this examination, which is competitive. Possession of the entrance requirements does not assure a place on the eligible list. Your performance in the examination described in this bulletin will be rated against a predetermined job-related rating, and all applicants who pass will be ranked according to their scores.

Public Employees Retirement System reserves the right to revise the examination plan to better meet the needs of the service, if the circumstances under which this examination was planned change. Such revision will be in accordance with civil service laws and rules and all applicants will be notified.

General Qualifications: Applicants must possess essential personal qualifications including integrity, initiative, dependability, good judgment, the ability to work cooperatively with others, and a state of health consistent with the ability to perform the assigned duties of the class. A medical examination may be required. In open examinations, investigation may be made of employment records and personal history and fingerprinting may be required.

Eligible Lists: Eligible lists established by competitive examination, regardless of date, must be used in the following order: 1) sub-divisional promotional, 2) departmental promotional, 3) multi-departmental promotional, 4) service-wide promotional, 5) departmental open, 6) open. When there are two lists of the same kind, the older must be used first. Eligible lists will expire in one to four years unless otherwise stated on the bulletin.

High School Equivalence: Equivalence to completion of the 12th grade may be demonstrated in any one of the following ways: 1) passing the General Education Development (GED) Test; 2) completion of 12 semester units of college-level work; 3) certification from the State Department of Education, a local school board, or high school authorities that the competitor is considered to have education equivalent to graduation from high school; or 4) for clerical and accounting classes, substitution of business college work in place of high school on a year-for-year basis.

Accepted applicants must provide proof of identification at each in-person test session. Acceptable identification consists of a photo identification card or two forms of signed identification.