(1m) Except as provided in sub. (2m), under the supervision of the executive director, the chief investment officer shall do all of the following: (a) Monitor activities of the investment directors for compliance with the board’s investment policies and guidelines in investment decisions and approve unusual transactions, as defined by the board. (b) Develop and implement operating procedures that are intended to ensure that the investment policies and guidelines of the board are followed. (c) Ensure that investments are completely and accurately reported on all management and financial reports and that any information requested by the board is provided to the board on a timely basis. (2m) If the executive director and chief investment officer are the same person, the executive director shall designate another investment director to take the actions specified in sub. (1m).
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