Associate Portfolio Manager Jobs in California (NOW HIRING)

This position is being re-advertised. Those who have previously applied are still being considered and do not need to reapply.
The starting salary for this position will be set competitively and commensurate with the candidate's qualifications and experience.
This position is eligible for incentive compensation and has a maximum incentive opportunity of 50% of base salary.
The CalSTRS Investments Branch is seeking an experienced individual to work as an Associate Portfolio Manager on the Investment Services team.
Investment Services is comprised of the following divisions within the Investment Branch: Operations, Performance and Analytics, Compliance, Data Solutions, and Business Services. The division provides essential first-level oversight functions across all investment strategies, supporting the entire investment lifecycle through trade and cash management, portfolio reconciliation, and performance analytics. Investment Services safeguards assets through strong controls, while enabling data-driven investment decisions and ensuring alignment with strategic goals and investment policies.
Under the general direction of Portfolio Manager (PM), the Associate Portfolio Manager provides research, review and risk management of the operational, business services, data, performance, governance, and reporting aspects of the investment strategic initiatives, total fund management investment strategies, total fund portfolio construction activities, and Investment Services' initiatives across all asset types, to ensure implementation, controls, collaboration and coordination across the Investment Services business areas and with the investment divisions.
The ideal candidate will possess the following skills:

• Demonstrated experience evaluating, developing, and implementing complex investment processes, policies, and internal controls across multiple asset classes.
• Strong analytical and research skills, including the ability to assess operational, governance, portfolio construction, risk, and compliance factors affecting total fund management.
• Proven ability to manage and coordinate large, cross-functional projects involving Investment Services, asset classes, enterprise partners, vendors, and external stakeholders.
• Experience supporting strategic planning efforts, including enterprise strategic plans, business plans, investment branch initiatives, and change-management processes.
• Knowledge of portfolio construction concepts such as asset allocation, cash flow pacing, leverage, liquidity, counterparty risk, and performance attribution.
• Ability to interpret and apply the Investment Policy Statement, investment guidelines, governance structures, and regulatory requirements when developing recommendations.
• Demonstrated leadership skills including mentoring, staff development, conducting performance reviews, and effectively managing team resources.
• Strong communication skills, including the ability to prepare clear, persuasive reports and effectively collaborate with senior investment leadership and cross-branch partners.

An incumbent who possesses a professional certification in one of the following designations: Chartered Financial Analyst (CFA), Certified Commercial Investment Member (CCIM), Financial Risk Manager (FRM), Certified Investment Management Analyst (CIMA) or Chartered Alternative Investment Analyst (CAIA) may receive a 5% monthly base pay differential. Only one 5% base pay differential is eligible regardless of the number of certifications.
Relocation benefits may be available.
Does this opportunity seem right for you? If so, see the Application Instructions section below and apply now.
You will find additional information about the job in the Duty Statement .
Working Conditions
CalSTRS offers a hybrid approach including in-office and remote work solutions based on business needs.
All staff of CalSTRS are employees of the State of California and subject to California employment taxes and withholdings. Upon appointment, staff are required to provide a current California address to CalSTRS Human Resources to be used as a remote work location.
Minimum Requirements You will find the Minimum Requirements in the Class Specification.

• ASSOCIATE PORTFOLIO MANAGER

Additional Documents

• Job Application Package Checklist
• Duty Statement

Position Details Job Code #:
JC-524273
Position #(s):
815-310-4698-064
Working Title:
Associate Portfolio Manager
Classification:
ASSOCIATE PORTFOLIO MANAGER $12,667.00 - $19,000.00
New to State candidates will be hired into the minimum salary of the classification or minimum of alternate range when applicable.
# of Positions:
1
Work Location:
Yolo County
Telework:
Hybrid
Job Type:
Permanent, Full Time
Department Information
CalSTRS: Securing the financial future and sustaining the trust of California's educators
CalSTRS is the largest educator-only pension fund in the world, providing retirement, disability and survivor benefits to California's more than 1 million public school educators and their families. The Investments Branch manages a portfolio that is broadly diversified into seven asset categories with assets totaling approximately $389.5 billion as of November 30, 2025 . In 2025, the CalSTRS Investments Branch was named one of the Best Places to Work in Money Management by the Pensions & Investments magazine for the eleventh time since 2013.
CalSTRS is committed to setting best practice precedents, implementing innovative diversity and inclusion principles, motivating positive change, and advancing the worlds investment markets. We do this by establishing collaborative relationships across a vast network of investment managers, portfolio companies and industry associations in order to maximize returns and leverage opportunities for positive change.
Our two U.S. Green Building LEED Platinum-certified headquarters buildings in West Sacramento, California, feature sustainable construction, abundant natural lighting, an organic garden, sustainable beekeeping and ergonomic functionally designed workspaces. We offer a variety of on-site amenities to our team members, including two full-service cafés, two free fitness centers, a bicycle rental library and a child care center with a covered playground. Team members enjoy walks along the Sacramento River and nearby seasonal farmers markets.
In addition to our state-of-the-art amenities, we offer thriving wellness and sustainability programs, an award-winning employee recognition program, and ongoing training, learning and development opportunities. We offer competitive benefits, flexible work hours and hybrid work options. We are committed to creating a workplace where our team members thrive.
If you're looking for a rewarding career and are interested in becoming part of a diverse and inclusive workforce where talent, expertise and wellness are valued, we encourage you to find out more about our many career options at CalSTRS.com/Careers .
Special Requirements Exam
This position requires a current Associate Portfolio Manager examination . If you need to take the examination or if your score has expired, click here to gain list eligibility.
CalSTRS Personal Trading Program
Investment Branch employees are required to participate in the CalSTRS Personal Trading Program which allows CalSTRS to monitor employees' personal trading transactions in order to reduce risks associated with insider trading, front running, and misusing material non-public information. Upon accepting a position within the Investment Branch, you will be required to disclose your personal broker account information and be required to utilize a personal broker from a designated list as provided by CalSTRS.
Background Investigation
Prior to employment with CalSTRS, a background investigation (BI) will be conducted. The BI consists of a Personal History Statement and fingerprinting through the Department of Justice. The BI will check criminal and civil records and, if applicable, verify education and check driving records.
CalSTRS Disclosure Requirements
This position may be subject to disclosure and disqualification requirements concerning economic conflict of interest in government work, including the Conflict of Interest Code that applies to CalSTRS team members and the Political Reform Act , which require disclosure of certain investment information and use of a designated trading platform for securities transactions, as well as filing a Statement of Economic Interest (Form 700) .
Incompatible Activities
This position is subject to the provisions of Government Code Section 19990 . Upon accepting a position at CalSTRS, you will also be required to comply with the CalSTRS Incompatible Activities Policy by ensuring that outside work or activities are compatible and align with your professional activities or workplace obligations.
Application Instructions
Completed applications and all required documents must be received or postmarked by the Final Filing Date in order to be considered. Dates printed on Mobile Bar Codes, such as the Quick Response (QR) Codes available at the USPS, are not considered Postmark dates for the purpose of determining timely filing of an application.
Final Filing Date: 8/16/2026
Who May Apply
Individuals who are currently in the classification, eligible for lateral transfer, eligible for reinstatement, have list or LEAP eligibility, are in the process of obtaining list eligibility, or have SROA and/or Surplus eligibility (please attach your letter, if available). SROA and Surplus candidates are given priority; therefore, individuals with other eligibility may be considered in the event no SROA or Surplus candidates apply. Applications will be screened and only the most qualified applicants will be selected to move forward in the selection process. Applicants must meet the Minimum Qualifications stated in the Classification Specification(s).
How To Apply
Complete Application Packages (including your Examination/Employment Application (STD 678) and applicable or required documents) must be submitted to apply for this Job Posting. Application Packages may be submitted electronically through your CalCareer Account at www.CalCareers.ca.gov. When submitting your application in hard copy, a completed copy of the Application Package listing must be included. If you choose to not apply electronically, a hard copy application package may be submitted through an alternative method listed below:
Address for Mailing Application Packages
You may submit your application and any applicable or required documents to:
State Teachers' Retirement System
N/A
Attn: Executive and Investment Talent Management
P.O. Box 15275, MS 31
Sacramento , CA 95851-0275
Address for Drop-Off Application Packages
You may drop off your application and any applicable or required documents at:
State Teachers' Retirement System
N/A
CalSTRS, Attn: Executive and Investment Talent Management
100 Waterfront Place
West Sacramento , CA 95605
08:00 AM - 05:00 PM
Required Application Package Documents
The following items are required to be submitted with your application. Applicants who do not submit the required items timely may not be considered for this job:

• Current version of the State Examination/Employment Application STD Form 678 (when not applying electronically), or the Electronic State Employment Application through your Applicant Account at www.CalCareers.ca.gov. All Experience and Education relating to the Minimum Qualifications listed on the Classification Specification should be included to demonstrate how you meet the Minimum Qualifications for the position.
• Resume is required and must be included.
• Other - Cover Letter

Applicants requiring reasonable accommodations for the hiring interview process must request the necessary accommodations if scheduled for a hiring interview. The request should be made at the time of contact to schedule the interview. Questions regarding reasonable accommodations may be directed to the EEO contact listed on this job posting.
Benefits
CalSTRS offers a competitive pay schedule and a work-life-balance for all its employees. The State of California provides comprehensive benefits packages determined by the employee's bargaining unit and conditions of employment. Some benefits include:

• Alternative work schedules
• Flexible work hours
• Remote work options
• Medical benefits, including health, dental and vision insurance
• Paid holidays and a defined benefit retirement program
• More than four weeks of vacation/sick leave for leaders
• More than three weeks of vacation/sick leave for staff
• Health insurance in retirement
• Employee Assistance Program
• Loan forgiveness under the federal Public Service Loan Forgiveness Program

For the latest information on the benefits offered by the state of California, explore the Health Benefits Summary provided by CalHR .
Contact Information
The Human Resources Contact is available to answer questions regarding the position or application process.
Human Resources Contact:
Executive and Investment Talent Management
(916) 414-4990
EITM@calstrs.com
Please direct requests for Reasonable Accommodations to the interview scheduler at the time the interview is being scheduled. You may direct any additional questions regarding Reasonable Accommodations or Equal Employment Opportunity for this position(s) to the Department's EEO Office.
EEO Contact:
EEO Officer
(916) 414-4933
EEOMailbox@calstrs.com
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.
ADDITIONAL APPLICATION INSTRUCTIONS

• Electronic applications through your CalCareer account are highly recommended. If you are unable to apply electronically through your CalCareer account, please mail or drop off a ha