Investments
Investment Officers

The governing body of a state agency (or of an investment pool) must appoint one or more officers or employees as its investment officer. If the body has contracted with another investing entity, the investment officer of the other entity is considered to be the body’s investment officer.

The investment officer is responsible for the investment of the agency’s or pool’s funds consistent with the agency’s or pool’s investment policy. Unless authorized by law, a person who is not the investment officer for a state agency or investment pool may not deposit, withdraw, invest, transfer or manage in any other manner the funds of the agency or pool.

Training

Each member of the governing board of a state agency and its investment officer must attend at least one training session relating to the person’s responsibilities under the PFIA and must cover the subjects required by Texas Government Code, Section 2256.007(c). The training session must occur within six months after the person takes office or assumes the person’s duties. The Texas Higher Education Coordinating Board is required to provide the training.

The investment officer must also attend a training session not less than once in a two-year period. The training may be provided by an independent source approved by the governing body of the state agency that employs the officer.

See also: Training for Members of Governing Boards.