North Dakota Retirement and Investment Office names Adam Otteson Chief Financial officer
KNOX, ND - The North Dakota Retirement and Investment Office (RIO) has announced the appointment of Adam Otteson as it’s new Chief Financial and Operating Officer (CFOO), effective instantly.
In his role as CFOO, Otteson will be responsible for the oversight of RIO’s middle- and back-office operations. This includes leadership of financial, accounting, and investment operations, as well as guiding the organization’s budgeting processes, annual audits, payroll management, and long-term strategic fiscal planning.
“Adam’s proven leadership and deep financial expertise will significantly strengthen RIO’s commitment to serving the people of North Dakota with the highest levels of transparency, accountability, and efficiency,” stated Jodi A. Smith, RIO Executive Director. “His extensive experience in navigating complex financial landscapes, coupled with his success in leading teams through rigorous audits, compliance procedures, and strategic planning initiatives, will be invaluable as we continue to refine and enhance our operational capabilities.”
Otteson brings over a decade of leadership experience to the role, and holds the designation of Certified Public Accountant (CPA). Prior to joining RIO, he served with the North Dakota Department of Trust Lands, where he oversaw annual revenues exceeding $500 million and was responsible for the safeguarding of an $8 billion investment portfolio.
(North Dakota Office of Retirement and Investment image)
Understanding North Dakota’s Retirement System: The North Dakota Retirement and Investment Office manages retirement plans for state employees, teachers, and other public servants. effective financial leadership is crucial to ensuring the long-term security of these funds and the benefits promised to retirees. This appointment reflects RIO’s ongoing commitment to strong financial governance.
Frequently Asked Questions
- What does the CFOO do at the North Dakota RIO?
- The CFOO oversees all middle- and back-office operations, including financial management, accounting, investment operations, budgeting, audits, payroll, and strategic fiscal planning.
- What was Adam Otteson’s previous role?
- Mr. Otteson previously worked at the North Dakota Department of Trust Lands, where he oversaw revenues exceeding $500 million and an $8 billion investment portfolio.
- What qualifications does Adam Otteson have?
- mr. Otteson is a Certified Public accountant (CPA) with over a decade of leadership experience in financial operations and compliance.
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