National Association of State Retirement Administrators

Position Information

State Investment Officer

The Nebraska Investment Council (NIC or Council), located in Lincoln, Nebraska, is searching for a State Investment Officer (SIO) to lead this independent state investment agency managing over $36 billion in assets.  The current SIO has announced his retirement after almost nine years of service.

The NIC’s responsibilities are entirely investment management; they do not administer benefits or determine contribution rates for any of the plans or the spending policy for the non-retirement entities.

This is an exceptional opportunity to work with a highly regarded board and to lead an investment program with a long history of delivering strong investment performance -- returns have exceeded the policy benchmark in every reporting period since 1983.

SIO Responsibilities
The SIO is appointed by the Council and reports administratively to the Council Chairwoman.  Leading a team of eight, the SIO oversees $36 billion in assets across 32 investment programs.  The Defined Benefit Plans assets of $14+ billion represent the largest pool of assets.  Each plan’s financial condition is strong having achieved a funded ratio of over 90%.  
The SIO has responsibility and authority, as delegated by the Council, for the management and administration of the investment program.  Some of the key responsibilities include:
  • Development of procedures and processes to implement policies established by the Council. 
  • Work with the Council and investment consultant to develop the asset allocation and implementation strategies.
  • Ensure adequate controls are in place to safeguard all assets.
  • Report on the performance and strategic direction of the investment program.
  • Serve as the Council’s representative to key stakeholders and maintain its excellent relationship with the Governor’s Office, Legislature, and others.  
Position: State Investment Officer
Organization: Nebraska Investment Council
Location: Lincoln,  NE 
United States
Posting Start Date: 5/9/2023
Date Posted: 5/9/2023

A strategic investment leader who aligns to the NIC’s investment philosophy – “a conservative, deliberate approach” is required.  A generalist with broad asset class knowledge and with experience in institutional asset management, portfolio construction, asset allocation and risk management are also required.  Some other requirements and preferences include: 

  • Bachelor’s degree, preferably in finance, economics, or related field.
  • Minimum of five years of progressively responsible experience in investment management.
  • Experience investing across different economic cycles.
  • Track record of positive investment returns as compared to benchmarks.


  • Advanced degree.
  • CFA and/or CAIA.
  • Experience or a respected level of knowledge of investing in private equity and real estate.
  • Investment experience in a public pension fund or state investment agency. 
  • Experience interacting with State elected officials and testifying at Legislative hearings.

Leadership Competencies & Characteristics
The SIO will assume responsibility for a high-performing investment program and lead an experienced investment team that works well together.  The Council desires a leader who will continue and improve on these positive trends. 
The SIO should be dedicated to public service.  A leader who is honest and ethical, and values accountability, transparency, open communication and believes in strong board governance is important.  Some other important skills and attributes include:  

  • Being responsive to Council direction and oversight, and willing to accept constructive criticism and feedback.
  • Confidence, poise, and presence to represent the Council and the social and interpersonal skills to build positive relationships with elected officials and key stakeholders.
  • Confidence to put forward and defend recommendations while being open to adjusting them based on input from others.
  • Strong analytical and critical thinking skills to identify issues and present practical solutions.
  • Effective building consensus and effectively negotiating compromise.

Compensation includes a base salary and is competitive to attract top investment professionals.  Health care, retirement benefits, and relocation assistance are also provided.
For Additional Information or to Apply
For a copy of the complete position spec or to apply, please contact Hudepohl & Associates, or (614) 854-7300.

Status: This listing expires on: 7/8/2023
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Organization Information
Nebraska Investment Council

Lincoln,  NE 68508
United States
Gary Hudepohl