State Board of Administration of Florida
Derek Underwood has a diverse work experience. Derek started their career as a Research and Planning Economist at the FL Department of Revenue in 2011, and later became an Economic Analyst within the same department. In 2017, Derek joined the Florida Legislature, Office of Economic and Demographic Research (EDR) as an Economist. In 2019, they transitioned to the State Board of Administration of Florida and worked as a Senior Quantitative Data Analyst, followed by a role as a Senior Investment Analyst. In 2023, Derek became the Director of Total Fund Analytics and Reporting at the State Board of Administration of Florida.
Derek Underwood pursued a Master of Science degree in Applied Economics from Florida State University from 2009 to 2010.
State Board of Administration of Florida
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The State Board of Administration of Florida (the “SBA” or the “Board”) is the investment organization managing the assets of the Florida Retirement System (FRS) and other funds. With more than $200 billion in total assets under management, the SBA is one of the largest institutional investors in the world. A key responsibility is the management of the FRS Pension Plan, the 5th largest public pension fund in the U.S. Year after year, the SBA is able to accomplish sound, long term investment returns above benchmark, while always keeping our beneficiaries’ interests at the forefront of our actions. At the SBA we recognize that our talented colleagues drive our sophisticated investment strategies, prudently balance risk and reward, and generate above-benchmark returns while adhering to the highest professional and fiduciary standards. It is vital to maintain the trust of the employees and beneficiaries of the funds we oversee. The SBA is committed to seeking individuals who will enhance our team by contributing to our knowledge pool while adhering to the ethics and integrity that underscore our investment strategies and management.