Principal Investment Officer

  • City of San Jose, CA
  • San Jose, California
  • Jan 20, 2023
Full Time Accounting and Finance Executive
  • Salary: $122,191 to $172,653 + benefits USD Annually
  • Phone: (562) 901-0769


The City of San José plays a vital economic and cultural role anchoring the world’s leading region of innovation and is one of the most diverse large cities in the United States. The Finance Department works in partnership with the departments of Human Resources, Information Technology, and Public Works as the Strategic Support City Service Area to effectively develop, manage and safeguard City fiscal, physical, technological, and human resources to enable and enhance the delivery of City services and projects. The Finance Department has a $24.2M FY 2022-23 operating budget and 134 budgeted full-time equivalent positions.

Job Description

The City seeks a Principal Investment Officer for the day-to-day management of the City’s $2.5 billion pooled investment fund. This fund includes deposits from various City departments but does not include deferred compensation plan and retirement system investments which are managed independently. The Principal Investment Officer also advises on bond proceeds investments. The Principal Investment Officer reports to the Deputy Director of Finance overseeing the Debt & Treasury Management division of the Finance Department and manages a team of 13 employees with three direct reports.

The City of San José is seeking an investment expert and manager with the skill and confidence to recommend sound investments that yield positive returns in the context of an Investment Policy focused – in priority order – on safety, liquidity and yield and limited by the California Code, City Charter and Municipal Code with the following key constraints: investment terms must be no longer than five years; are limited by sector and by credit rating; must be managed around cash flow requirements; investment portfolio is managed as a buy-and-hold portfolio (vs. active management); and social responsible investment goals which includes prohibition of direct investments in certain commodities, such as fossil fuels.

Job Requirements

Requires a bachelor’s degree and five years of related work experience in a defined benefit retirement fund, investment consulting, investment management or pension consulting, or experience with investing funds for a municipality or working for a financial firm handling municipal investment accounts.

Special Instructions

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Additional Information

Salary: $122,191 to $172,653 + benefits.

Apply online at immediately (open until filled). Qualified candidates will be interviewed following review. For information, please contact Sherrill Uyeda at or Cindy Krebs at Main office phone is (562) 901-0769.

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Job Address

San Jose, California United States View Map