Career Opportunity

From Pensions and Investments Online a career opportunity:

Chief Investment Officer (CIO)Kentucky Retirement SystemsPosition Announcement

Kentucky Retirement Systems

Chief Investment Officer (CIO)

Kentucky Retirement Systems (KRS), a $15 billion state administered retirement system located in Frankfort, Kentucky, is seeking qualified applicants for the position of Chief Investment Officer (CIO).

The CIO is responsible for overall multi-asset class portfolio management including internally managed assets. The position requires a master's degree in business or related field and more than 7 years of multiple asset class investment experience with a pension plan or related financial institution that has assets of at least $5 billion. CFA certification desired. Annual salary range at time of placement is from $108,264 to $162,384. Position duties include, but are not limited to, the following:

? Developing and establishing investment policies and procedures.
? Reviewing policies, procedures, and management controls to ensure that activities are properly managed and cost effective.
? Ascertain the extent of compliance with internal controls, fiduciary standards, policies, procedures, laws and regulations.
? Monitoring and assessing service providers.
? Assessing the performance and risk exposure of the investment program.

To apply, please submit a completed application and resume by December 1, 2006 to the following address:

Kentucky Retirement Systems, c/o Beverly Fouts
Perimeter Park West
1260 Louisville Road
Frankfort, KY, 40601-6124

Applications and additional position information are available at www.kyret.com (under Employment Opportunities) or by contacting the Human Resources Division 800-928-4646 ext.8595.

KRS is an Affirmative Action/Equal Employment Opportunity Employer.

As a point of comparison from the Kentucky State Government Salary Database:

Indicted Governor Ernie Fletcher $97,100

Fletcher’s Chief of Staff Stan Cave $109,250

Fletcher’s General Council Jim Deckard $108,920

Governor’s Executive Cabinet Secretary and Lt. Governor Candidate Robbie Rudolph $108,370

Attorney General Greg Stumbo $82,550

So if you are willing to pay the CIO $162,384 what are you willing to pay his boss the Executive Director?

This is why every successful fiefdom needs its’ own personnel system.