The Laguna Beach treasurer was appointed to the California Local Agency Investment Board by the state treasurer in November.
Laura Parisi has been the city's treasurer since 1999 and also serves as vice chair on the Treasury Oversight Committee for the Orange County Treasurer's Office.
"I feel honored and privileged," she said of the appointment.
Parisi, who will be sworn in Jan. 16, said she plans to be a student during that meeting while she learns the board's structure and goals.
She said one of her goals for the new position is to continue with her "ongoing efforts to promote transparency in government finance."
The board's primary purpose, Parisi said, is to provide oversight for the Local Agency Investment Fund, a $18.9 billion investment portfolio run by the state treasurer in which local agencies, like cities and water districts, can invest.
The fund has more than 2,500 participants.
Her term of service is two years or at the pleasure of the treasurer. The board meets twice a year in Sacramento.