April Wilcox

California State Teachers’ Retirement System (CalSTRS) provides retirement benefits to California’s public school educators. It is the largest education-only pension fund in the world, and second largest pension fund in the U.S. Investment Operations has a team of 18. Their primary function is to provide middle office support for internal and external portfolio activities by performing pre-settlement and post trade portfolio controls, including trade confirmations, collateral management, portfolio reconciliations, corporate action processing, data integrity and cash management. Additionally, Investment Operations manages the global master custodian relationship as well as a number of data providers and servicers. 

They have recently enhanced our pricing oversight process, segregating controls within Investment Operations for both internally and externally managed portfolios. They have outlined controls around pricing vendor selection and hierarchy, price challenges, pricing validation, worthless securities, and private asset pricing.