The CERN Pension Fund is the pension fund of the European Organization for Nuclear 
Research (CERN). The purpose of the Fund is to provide pension and social security benefits to over 7,000 members and beneficiaries employed at CERN and at the European Southern Observatory (ESO). CERN’s overall mission is to enable international collaboration in the field of high-energy particle physics research. ESO’s mission is to enable major scientific discoveries by constructing and operating powerful ground-based observational facilities that are beyond the capabilities of individual member states and also to foster international cooperation in astronomy.  Operating as a funded defined benefit scheme the CERN Pension Fund's assets currently exceed CHF4.4 billion. 

The Fund is an integral part of CERN but with operational autonomy. The oversight of the fund is entrusted to the Pension Fund Governing Board (PFGB) which is assisted by an Actuarial and Technical Committee (ATC) and Investment Committee (IC). 
The management of the Fund is entrusted to the Chief Executive Officer who is accountable to the PFGB and is supported by the Pension Fund Management Unit (PFMU). 

Further details and information regarding the organization of the Fund (including its 
governance structure, investment principles, benefits structure etc) can be found on the Fund’s we site (http://pensionfund.cern.ch). 

The composition of the IC provides for two external professional experts and there is currently an opening for one member, effective from January 2024. 

Role and composition of the IC 

The functions of the IC are laid down in Article I 2.10of the Fund’s rules and amongst other things include making proposals to the PFGB regarding the Fund’sStatement of Investment Principles, reviewing the Fund’s investment performance, and monitoring the Fund’s risk tolerance.  

The composition of the IC is laid down in Article I 2.11 of the Fund’s rules. The IC is required 
to have at least four members, comprising two members of the Governing Board appointed by the latter, two external professional experts appointed by the Governing Board, and any 
additional member(s) that the Governing Board may decide to appoint, who can be either 
Governing Board members with relevant experience or external experts. 
The members of the IC are appointed for a maximum period of three years, renewable once 
for a further maximum consecutive period of three years. 

Description of work 

The IC holds four meetings per year, including a joint meeting with the PFGB, but additional meetings or conference calls may be scheduled if required. Typically, meetings last a full day and take place at CERN in Geneva, Switzerland. Professional members are expected to attend every IC meeting. Professional members are required to act in the best interests of the Fund and to abide by the CERN Code of Conduct and the Pension Fund Code of Conduct (https://pensionfund.cern.ch/en/about-fund/code-conduct).  

Candidates are required with deep and extensive experience of overseeing the assets and liabilities of large pension funds, or similar long-term institutional investors, such as endowments, foundations, and sovereign wealth funds. 

Candidates should have academic and/or professional qualifications and experience in some of the following areas: 

• Asset management 
• Portfolio construction 
• Risk management 
• Equities 
• Fixed income 
• Real estate 
• Private equity 
• Hedge funds 
• Other asset classes including infrastructure, timber, farmland, and commodities 

Fees

A market-competitive fee will be payable to external experts appointed who are not in the employment of CERN or ESO. Further information shall be provided at the selection stage. 

Applications 

Interested persons should apply online with a CV.

Deadlines 

Applications will be accepted until 7 May 2023. Interviews for selected candidates will take place by Zoom videoconference.