Senior Executive Team
Executive Team
The Senior Executive Team of OCERS, led by the Chief Executive Officer (CEO), comprises two Assistant CEOs, a Chief Investment Officer, and a General Counsel. Together, they oversee the day-to-day operations of OCERS.
Steve J. Delaney
Chief Executive Officer
Steve J. Delaney began serving as Orange County Employees Retirement System’s Chief Executive Officer on January 2, 2008, and is the longest-serving CEO among the 20 county retirement systems. He has overseen the OCERS Fund as it grew from $8 billion at that time to the nearly $23 billion fund it is today.
As CEO, Mr. Delaney oversees a full-time staff of 120+ employees in all areas of OCERS operations, including investments, legal, financial, administrative services, communications, information technology, and member services.
Brenda Shott
Deputy Chief Executive Officer
Brenda Shott has over 29 years of experience in public sector financial services, information technology management, program development, business process improvement, and strategic planning. She officially became Deputy CEO on May 1, 2026.
William Tsao
Assistant CEO, External Operations
William Tsao, MBA, PMP, SHRM-SCP serves as Assistant CEO of External Operations at the Orange County Employees Retirement System (OCERS). Prior to this role, he served as Director of OCERS’ Enterprise Project Management Office (EPMO), where he established the organization’s first enterprise-wide project management governance framework and advised executive leadership on strategic initiatives and business planning.
Manuel Serpa
General Counsel
Manuel D. Serpa is the General Counsel for the Orange County Employees Retirement System (OCERS). He obtained this position after serving as OCERS’ Deputy General Counsel for four years. Before joining OCERS in 2019, he was a partner at the Olivarez, Madruga, Lemieux & O’Neill law firm (OMLO), providing various transactional and litigation services to diverse public agency and municipal clients. Prior to this, he was a supervising attorney for a national disability law firm for over two decades and led their federal court appellate practice in the 9th Circuit.
Molly A. Murphy
Chief Investment Officer
Molly Murphy has more than 30 years of investment experience and currently oversees the investment portfolios as Chief Investment Officer (CIO) of the Orange County Employees Retirement System. Ms. Murphy joined OCERS in 2017 after many years as CIO of a non-profit health system. Previous to that role, with a background in trading and portfolio management, Ms. Murphy was the co-founder and CIO of a boutique investment firm serving the bespoke needs of institutional fixed income investors. She is a graduate of Miami University and Xavier University and is a CFA charter holder.
Darren Dang
Chief Technology Officer
Darren Dang serves as OCERS’s Chief Technology Officer (CTO) leading the agency’s technology strategy, including the development of a new Pension Administration System, enterprise automation, data analytics, and cybersecurity enhancements.