Executive Director, PSERS
Executive Director, PSERS
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Not Disclosed
Salary Not Disclosed
1 Vacancy
Job Description
THE POSITION
This position serves as the Executive Director and Chief Executive Officer and as Secretary of the Board. Reporting to the Board and directly to the Chairperson the Executive Director is responsible for administrative budgets of $106.3 million and nearly 400 staff. The Chief Investment Officer and Chief Counsel report to the Board and administratively report to the Executive Director. The Chief Audit Officer has a dual role and reports to the Audit Compliance and Risk Committee and the Executive Director.
PSERS is a governmental costsharing multipleemployer pension plan to which public school employers the Commonwealth and school employees (members) contribute. The System a quasiindependent agency of the Commonwealth is governed by a 15member Board of Trustees. The Board an independent administrative board of the Commonwealth comprises four ex officio members five appointed members and six elected members from constituent groups.
PSERS continues the positive trend of improving the Systems funded status. As of the most recent actuarial valuation at June 30 2024 the Systems funded ratio stood at 64.8% continuing a steady upward trend from 2014. Assuming continued employer contributions and favorable future investment returns the actuarial funded ratio is projected to exceed 80% by 2032.
PSERS is a longterm investor Plan assets are managed both internally by PSERS investment staff and externally by institutional investment managers. For FY 2024 the timeweighted net rate of return was 8.14% exceeding the Total Fund Policy Index return of 7.07% by 1.07%. The 10year return was 6.82% which is above the benchmark of 6.39% but below the Systems longterm investment rate of return assumption 7.00%.DESCRIPTION OF WORK
Here at PSERS we strive to provide the highest quality of services to our members. As Executive Director you will be responsible for:
- Ensuring all records materials and minutes for Board and Committee proceedings are prepared and maintained and that all meeting notices are given as required by law or Board Bylaws
- Working with the Chief Compliance Officer and Chief Counsel ensure operation of the System in accordance with state and federal law
- Advising and supporting the Board by conferring on governance Board actions and on financial economic and political trends and developments affecting the System
- Overseeing and directing the planning organization and administration of all program areas for which the System is statutorily responsible
- Developing administrative rules regulations and policies for approval and promulgation by the Board.
- In coordination with the Chief Investment Officer monitoring the performance of the investment portfolio ensuring assets are invested in accordance with established policies and that proper controls are in place to safeguard assets
- Leading the organization in carrying out the Boardadopted Strategic Plan ensuring continued alignment to the Boards strategic priorities and the Systems mission vision and values
- Ensuring resources are sufficient and properly aligned to execute and accomplish the Systems Strategic Plan and goals
- Recruiting training and retaining a team of industry leading professionals to lead and manage the System and promote a humancentric culture
- Maintaining effective external relationships with plan sponsors member groups key political leaders media and other stakeholders
- Leading efforts to continue to build and maintain public trust and confidence in the System
- Supporting the hiring of a Chief Investment Officer and Chief Counsel when vacancies exist
- Representing PSERS as a subject matter expert on retirement system programs and activities to various organizations including Commonwealth agencies the executive and legislative branches of state and federal government professional organizations and member
Work Schedule and Additional Information:
- Fulltime employment
- Work hours are 8:30 AM to 5:00 PM Monday Friday with a 60minute lunch.
- Telework:You may have the opportunity to work from home (telework) parttime depending on operational and executive leadership requirements. In order to telework you must have a securely configured highspeed internet connection and work from an approved location inside Pennsylvania. If you are unable to telework you will have the option to report to the headquarters office in Harrisburg.
- Salary:Commensurate with experience
- You will receive further communication regarding this position via email. Check your email including spam/junk folders for these notices.
REQUIRED EXPERIENCE TRAINING & ELIGIBILITY
QUALIFICATIONS
- A bachelors degree in business finance or public administration or a related field; and
- Relevant operational and administrative leadership experience in a large complex organization.
Additional Requirements:
- You must be able to perform essential job functions.
Preferred Qualifications (not required):
- An advanced degree (e.g. MBA JD)
- General knowledge of investments
- General knowledge of actuarial principles
- Experience with defined benefit and defined contribution plans
- Experience leading major change management initiatives
- Proven track record of working cooperatively with Boards and a history of effectuating Board directed initiatives
How to Apply:
- Your application must include a cover letter and resumefor review by the hiring manager.
- Your application must be submitted by the posting closing date.Late applications and other required materials will not be accepted.
- Failure to comply with the above application requirements may eliminate you from consideration for this position.
Veterans:
- Pennsylvania law (51 Pa. C.S. 7103) provides employment preference for qualified veterans for appointment to many state and local government jobs. To learn more about employment preferences for veterans go to and click the Veterans Preference tab or contact us at.
Telecommunications Relay Service (TRS):
- 711 (hearing and speech disabilities or other individuals).
If you are contacted for an interview and need accommodations due to a disability please discuss your request for accommodations with the interviewer in advance of your interview date.
The Commonwealth is an equal employment opportunity employer and is committed to a diverse workforce. The Commonwealth values inclusion as we seek to recruit develop and retain the most qualified people to serve the citizens of Pennsylvania. The Commonwealth does not discriminate on the basis of race color religious creed ancestry union membership age gender sexual orientation gender identity or expression national origin AIDS or HIV status disability or any other categories protected by applicable federal or state law. All diverse candidates are encouraged to apply.
Required Experience:
Director
Employment Type
Full-Time
