Posting

Treasurer

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The State of California is seeking an expert asset manager to oversee its massive portfolio of investments and finances for the next four years.

Qualifications:

  • An eye for good investments: Oversees the state’s Pooled Money Investment Account, investing money on behalf of the state and local jurisdictions
  • A collaborative spirit: Serves on many boards and commissions, including the state’s two largest public pension funds: the California Public Employees’ Retirement System and California State Teachers’ Retirement System  
  • A strong grasp on the financial needs of the state’s public works: Monitors schools and higher education facilities, transportation projects, parks and environmental projects
  • Good judgment on financing: Awards low-cost, tax-exempt financing for housing, economic development and student loans, plus hundreds of millions of dollars in tax credits for affordable housing

Compensation

$174,843 Individuals with a strong work ethic are encouraged to apply, but this may not be a good fit for those looking for a career launchpad: Four of the last five treasurers ran for governor, but none won. 

About the hiring process:

Applicants will need to beat out the incumbent, Fiona Ma, who was elected treasurer in 2018. The fourth Democrat in a row in the job, she has the party’s endorsement for a second term despite some recent controversies. She’s being sued by a former employee who alleges that Ma sexually harassed her in an attempt to cover “unlawful conduct” and “improper gifts” from Sacramento-area businesspersons. Ma denies the allegations. She was also called out for supporting legislation to help Santa Ana police union president Gerry Serrano boost his retirement benefits by counting his union salary towards his pension. 

Ma’s challengers include Republicans Andrew Do, an Orange County supervisor, and Jack M. Guerrero, mayor of the city of Cudahy in Los Angeles County and a CPA. But Do has his own issues: In 2020, the state’s elections watchdog committee launched an investigation into whether he illegally steered money back to his campaign through the Orange County Republican Party. The investigation was closed due to insufficient evidence

Applicants

  • Democratic
  • Republican
  • American Independent
  • Green
  • Libertarian
  • Peace & Freedom
  • No Party
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