Executive Director, PSERS

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, cost-sharing, multiple-employer pension plan to which public school employers, the Commonwealth, and school employees (members) contribute. The System, a quasi-independent agency of the Commonwealth, is governed by a 15-member 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 System's funded status. As of the most recent actuarial valuation at June 30, 2024, the System's 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 long-term investor Plan assets are managed both internally by PSERS investment staff and externally by institutional investment managers. For FY 2024, the time-weighted net rate of return was 8.14% exceeding the Total Fund Policy Index return of 7.07% by 1.07%. The 10-year return was 6.82%, which is above the benchmark of 6.39% but below the System's long-term investment rate of return assumption, 7.00%.

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 Board-adopted Strategic Plan, ensuring continued alignment to the Board's strategic priorities and the System's mission, vision, and values
• Ensuring resources are sufficient and properly aligned to execute and accomplish the System's Strategic Plan and goals
• Recruiting, training, and retaining a team of industry leading professionals to lead and manage the System and promote a human-centric 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:

• Full-time employment
• Work hours are 8:30 AM to 5:00 PM, Monday - Friday, with a 60-minute lunch.
• Telework: You may have the opportunity to work from home (telework) part-time, depending on operational and executive leadership requirements. In order to telework, you must have a securely configured high-speed 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.

QUALIFICATIONS

• A bachelor's 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:

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 resume for 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:

Telecommunications Relay Service (TRS):

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.