Executive Director

State-Boston Retirement System
Boston, Massachusetts

EXECUTIVE SUMMARY

The Board of the State-Boston Retirement System (“SBRS”), the largest city retirement system in the Commonwealth of Massachusetts, seeks nominations and applications for an Executive Director to lead and manage its pension organization with assets of over $3 billion. Reporting to the Board, the Executive Director will work to provide the leadership and direction necessary to maximize return on pension investments and effectively manage a staff of approximately 45 personnel to provide best practices, pension administration, and customer services.

As the current economic climate drives heightened scrutiny and interest on publicly managed pension assets, employees and employers are increasingly focused on issues impacting pension security and fund performance. The incoming Executive Director will thus join SBRS at a critical time in its history and will be expected to provide innovative change management expertise across all facets of the organization including operations, finance, investment management, benefits administration, information technology, and public relations. As part of a new board initiative, s/he will oversee the implementation of a $12 million state-of-the-art technology project and will proactively identify all opportunities for the new system to provide maximum operational efficiencies and world-class customer service.

This is an outstanding opportunity for an energetic individual with strong operations and communications skills who is seeking a high visibility public sector position in a dynamic area of growing importance locally and nationally. As head of the largest municipal pension plan in Massachusetts, the incoming Executive Director of the State-Boston Retirement System will be a key figure in the field of municipal pension administration and investment management.

This position calls for an entrepreneurial, dynamic individual with strong operational skills and the ability to build and effectively manage a high visibility organization. SBRS seeks an individual with a consultative and accessible leadership style, outstanding personal integrity and exceptional leadership, and managerial skills.
 

OVERVIEW OF THE CITY OF BOSTON

Founded in 1630, the City of Boston is the largest metropolis in New England, the capital of the state of Massachusetts, and one of the most historic, vibrant and influential cities in the United States of America. Boston is a center of trade and finance, education and research, and art and culture. With more than 35 colleges and universities within the City and surrounding area, Boston is a major center for higher education and, as a result, enjoys a vibrancy that adds an additional dimension to the unique historic charm of the City. Boston has also enjoyed reoccurring high rankings as one of Fortune Magazine’s Best Cities for Business. Presently ranked as the nation’s twenty-first largest city, Boston’s resident population of 600,000 increases by over one million with commuting workers and tourists entering the City each day.

OVERVIEW OF THE STATE-BOSTON RETIREMENT SYSTEM

The State-Boston Retirement System is a cost-sharing, multi-employer, public employee retirement system dedicated to the effective management and disbursement of retirement benefits and to providing high quality customer services to over 21,000 active and over 14,000 retired members.

Established under Chapter 32 of the Massachusetts General Laws and working under leadership of a five-member Board, SBRS manages a complex and fully diversified portfolio of pension assets currently valued at over $3 billion. Although SBRS is legally separate and fiscally independent from the City of Boston, it works closely with the City and related agencies in performing its mission.

OPPORTUNITIES AND CHALLENGES FACING THE NEW EXECUTIVE DIRECTOR 

The incoming Executive Director will join SBRS at a critical point in its history as it prepares to embark on a comprehensive strategic review of its operations to identify and employ best in class practices to deliver exceptional service in the most cost efficient manner. Reporting to the Board, and as a member of the Administration and Finance Cabinet of the City, the Executive Director will oversee the implementation of strategies and plans for managing funds, administering benefits, and enhancing operating infrastructure. As the primary spokesperson for the organization, the Executive Director will maintain strong relationships and open communication with its members, employers, city departments, the public and other governmental agencies involved in the discharge of SBRS’ mission.

 

GENERAL STATEMENT OF DUTIES

1. 1. Overall selection, management, supervision, and evaluation of SBRS’ professional and administrative staff.

2. Overall management of pension benefit administration and the annual budget of the SBRS, including full compliance with all financial reporting and accountability standards and the utilization of best practices for enhanced internal controls across all operations.

3. Interpreting and implementing the provisions of the Commonwealth of Massachusetts’ retirement law consistent with the rules, regulations and policies of the SBRS and the Public Employee Retirement Administration Commission (PERAC).

4. Responsible for the management, under the direction of and in close coordination with the Board, of SBRS’ pension assets and investment activities pertaining but not limited to: investment policy; asset allocation; selection, management, and evaluation of investment consultants; selection, monitoring, and benchmarking of investment managers.

5. Serving as SBRS’ primary spokesperson to: active and retired members of SBRS; the City of Boston and other public employers participating in SBRS; all relevant local, state and federal departments and agencies with oversight of, or involvement with SBRS; and retirement and other related public interest groups.

6. The development and implementation of an annual business plan that seeks to achieve the Board’s goals of: offering high quality, best practices service to all members; maximizing the return on pension investments; utilizing state-of-the-art technology to increase overall efficiency and improve the accuracy and availability of member data..

BASIC REQUIRED QUALIFICATIONS

1. Boston residency before commencement of work.

2. Bachelor’s degree in public administration, investment management, or a related field from a recognized four-year college or university.

3. Proven success in: a) operations management; b) interacting with Boards of Directors; c) identifying and harnessing the latest technology to maximize organization performance; d) leading cultural and organizational change to improve customer service.

4. Demonstrated superior leadership, change management and communications skills, and the highest level of integrity and ethics.

PREFERRED QUALIFICATIONS

1. An MBA, MPA, JD or other professional degree.

2. At least five years of relevant experience in successfully managing a pension or other endowment of at least $500 million.

3. At least five years of relevant experience with the administration, development and delivery of pension-related benefits. Demonstrated ability to interpret retirement law, investment and related laws and regulations for the purpose of administering a pension plan and managing a pension fund. 

TO APPLY

More information about SBRS may be found at http://www.cityofboston.gov/retirement/

 
For more information about the City of Boston, please visit its web site at www.cityofboston.gov

Due to the pace of this search, candidates are encouraged to apply as soon as possible and no later than February 20, 2009. Applications including a cover letter describing your interest and qualifications, your resume (in Word format), salary history and where you learned of the position should be sent to: brb-ed@nonprofitprofessionals.com. In order to expedite the internal sorting and reviewing process, please type your name (Last, First) as the only contents in the subject line of your e-mail.

 

State-Boston Retirement System is an equal opportunity employer.