Larry Jensen Hired to Lead CalSTRS Audit Services
Former CalPERS Risk Officer brings decades of experience on fiscal oversight
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System (CalSTRS) announced today it has hired Larry Jensen as its chief auditor, effective July 1, 2014.
Jensen is currently chief risk officer at the California Public Employees Retirement System, (CalPERS) where he spent nearly two decades in a variety of oversight and auditing roles.
“Larry Jensen is an outstanding professional who will bring a great depth of experience and expertise to the educators we serve,” said CalSTRS Board Member Paul Rosenstiel, chair of the Audits and Risk Management Committee. “He’s very familiar with public pension operations here in California and has extensive experience evaluating administrative and fiscal operations.”
At CalSTRS, he will direct both internal audits of the pension’s operations, as well as external risk assessments and audits of more than 1,600 employers. Jensen will report to the Audits and Risk Management Committee of the Teachers’ Retirement Board and CalSTRS Chief Operating Officer Cassandra Lichnock. Jensen replaces Chief Auditor MaryAnn Campbell-Smith, who retired this year.
Jensen joined the CalPERS Office of Audit Services in June 1995 and rose to chief auditor in 2002. He served as assistant executive officer for CalPERS Administrative Services Branch before being appointed chief risk officer in 2011. He received his accounting degree from National University.
Jensen is a Certified Internal Auditor, Certified Government Financial Manager, Certified Information Systems Auditor and is certified in risk management assurance. He has served on the boards of the Institute of Internal Auditors and the Association of Public Pension Fund Auditors. Jensen lives in Elk Grove, California.
The California State Teachers’ Retirement System, with a portfolio valued at $183.8 billion as of April 30, 2014, is the largest educator-only pension fund in the world. CalSTRS administers a hybrid retirement system, consisting of traditional defined benefit, cash balance and voluntary defined contribution plans. CalSTRS also provides disability and survivor benefits. CalSTRS serves California’s 868,000 public school educators and their families from the state’s 1,600 school districts, county offices of education and community college districts.