Joseph M. Email and Phone Number

Termination and Liquidation, Replacement Search, and Selection Process: • Management of specific Investment Manager (IM) Contracts including compliance, termination/liquidation, amendments, replacements, and renewals therein. • The Primary contract manager for designated IM Contracts, and a secondary or back-up contract manager for other designated IM Contracts. • The termination/liquidation and the search and selection process for IMs conducted through a modified search process in consultation and coordination with investment consultants, transition managers, legacy and target investment firms, external and internal legal counsel, and other qualified investment firm candidates. Contract Compliance: • The main contact and liaison for all matters arising between CalHR and the Contractor including amending any terms or conditions of the Agreement, communications, and contract compliance. • Reviewing Trade Costs to ensure they are reasonable within industry standards and an annual review of their Foreign Exchange contract usage and ensuring the IM’s comply with the contract specifications regarding management fees. • Conducts Due Diligence reviews of each IM. Such reviews are conducted in conjunction with insight from external Investment Consultants and include an extensive review of the IM’s organization, investment policy and process, corporate governance, strategy performance, management fees, trade processing, risk management, and contract compliance.Projects and Program Initiatives: • Implementation of the most complex investment-specific projects resulting from recommendations from outside consultants and those mandated by regulatory changes.• Participate in the review of investment-specific governance and compliance documents and provide input to the contents therein. • Serve as a subject matter expert on program portfolio and investment matters. • Serve as a voting member of the Investment Committee.

Investment Responsibilities:-Monitor and provide guidance to AGPA on assignments. -Develop contract compliance procedures. -Provide oversight of contract terms and conditions. -Make recommendations for process improvements to Investment Team Personnel Program Advisors (PA). -Support the Investment Team PA’s in their work with the investment consultants, Trustee/Custodian, and Securities Lending business partners to ensure compliance with contract deliverables.-Coordinate with business partners in onboarding of new investment manager’s as well as for contract amendments and extensions. -Serve as subject matter expert to Third Party Administrator (TPA) for investment reporting documents, confirming regulatory compliance and ensuring they are up to date, accurate, and communicated timely to participants. -Conduct research public sector defined compensation practices, including entities in the public and/or private sectors, prepare and present recommendations on product offerings, programpolicy and procedure updates to management and the Investment Committee.Savings Plus Investment Committee: -Lead project work voted on and approved by the Investment Committee (IC). -Serve as a Subject Matter Expert (SME) in support of the Investment Committee decisions. -Perform research to support requests and projects brought before the IC. -Serve as a member on the IC as directed by the Investment Committee Charter.Support Fiscal, Investments, Regulations, Projects, and Operations Branch: -Conduct research and develop industry policies and practices related to investment partnership.-Perform other assignments and lead special projects, including but not limited to conducting research and analysis to prepare accurate written documentation, such as special statisticalreports, and make recommendations on program policies and procedures, and correspondences.

Division: Savings Plus - Fiscal, Investments, Regulations, Projects, and Operations Branch.Investment Responsibilities:• Communicate to investment providers actions taken by the Investment Committee (IC).• Work on projects voted on and approved by the IC.• Prepare Request for Proposal (RFP) and contract related documents for submission to the contract’s unit.• Participate in the RFP development, search, and selection process for investment providers, external counsel, consultant services, transition managers, financial auditor, and trustee/custodial services.• Assist with negotiating contracts with investment managers, trustee/custodian, investment consultants, third party administrator (TPA), and others as needed.Program Analysis and Monitoring of Legislation and Regulations:• Assist in developing new and amend existing regulations to support the administration of the Program.• Analyze proposed bills and provide input.• Work with the CalHR Legislative Office, external counsel, and/or TPA Legal to analyze, track, monitor, and implement federal and state legislation identified as having a possible impact to the Program.

Portfolio Management Responsibilities:· Use quantitative risk models and optimization programs to manage equity portfolio.· Implement electronic security trades and liaise with brokers and custodians.· Provide analytic support for client consulting projects.· Extract and update data from portfolio accounting systems.· Develop and implement process improvements.· Maintain and service relationships with clients.

Financial Research and Trading: • Analyze a money manager’s firm, investment team, investment process to qualitatively understand the manager, how they attempt to add value, and how they manage risk- this is accomplished through questionnaires, conference calls, and on-site manager visits. • Utilize quantitative tools to better understand a manager’s source of alpha and risk profile. • Communicate research recommendations and findings in formal written communication and conference calls. • Additional research and writing projects beyond coverage responsibilities relevant to industry events, asset management, portfolio construction, etc… to further educate our institutional clients. • Developed department’s trade process, compliance oversight, and security monitoring process. • Trained personnel in the trading division.

Financial Management, Operations & Training: • Traded a half billion dollars based on financial research and managed tax implications for the portfolios. • Mutual fund screening and selections using Morningstar Direct and Bloomberg. • Train clients and associates on the use of the trading platform, reporting database, and hosted solutions. • Created the company training manuals on how to use the custodian platforms and portfolio reporting database. • Product wholesaling to investment advisors. • Managed department risk regarding trading errors and violations. "Best Practices" & Contributions: • Oversight of department meetings to generate additional revenue, compliance projects, and market new investment programs. • Developed electronic system to process new business, which would maintain files and improve business process efficiency. • Oversaw and proposed new trading platforms, which increased trading efficiency by 95%. • Proposed using 3rd party reporting database to manage new client leads to improve success of client leads.

• Traded stocks, bonds, options, and mutual funds in client portfolios. • Performed financial analysis and interpreted investment materials for the client.

• Analyzed sales data and financial materials to determine return on investment and present findings to management.