The board has recently approved several governing policies to increase more resources flowing to the community while enhancing investment management oversight. The Board approved a $50 million carve- out for mission related investing and program related investing, and increased payout policy which increased grantmaking and newly created a six-member investment committee including for the first time two community investment advisors. The newly created role of Director of Investment will play in significant role in driving many of these new initiatives.
The Director of Investments will work closely and collaboratively with the Chief Financial Officer and two external investment consultants to execute an investment strategy and will be a critical member of the Finance Department along with Controller, serving as a member of CFO’s senior management team. This position will have frequent contact with CEO, Executive Management Team, Treasurer and Board Leadership.
The ideal candidate will bring a broad capital markets and mission related investments knowledge base to support investment strategies, manager selection, and asset allocation across all key asset class areas.
Essential Duties And Responsibilities
Investment Management
- Support the management of the investment process by working collaboratively with external investment consultants and CFO to recommend and present investment strategies to the investment committee of the board, including performing due diligence and document review.
- Lead staffing the Investment Committee and preparing materials for Investment Committee and Board meetings.
Mission Related Investment/Program Related Investments
- Support mission related investments (MRI) strategy development including developing strategy to expand investments with diverse investment managers.
- Assist in developing a grantmaking strategy to promote and support the mission related investing field in the philanthropic community.
- Partnering with internal program staff, support developing and implementing program related investment (PRI) portfolio including conducting due diligence and building pipeline of potential investments.
- Collaborate with Public Affairs team in developing and implementing a shareholder engagement strategy.
- Assist in developing impact measurement framework for MRI’s and PRI’s and manage ongoing impact theses and measurement which includes data collection, analysis, and extraction of critical insights.
Investment Operations/Oversight
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- Oversight of all quarterly performance reports generated by external consultants and reconciliation of all manager data with custodian for all asset classes.
- Manage and execute process to establish and fund new investments; review and coordinate execution of all documents related to new investments.
- Provide audit support for asset class/strategy classification, liquidity and fee terms and other summary data for each manager and fund. Prepare leveling and other required disclosures for the financial statements.
Requirements
The successful candidate will have a strong investment philosophy with a deep knowledge of managers and strategies across a variety of asset classes, regions, and sectors. This individual will possess experience in analyzing and monitoring investments, risk management, and managing the investment process. The individual will also possess the ability to work well with others and interface with managers, service providers, board trustees and foundation leadership. While no one candidate will embody all the qualifications enumerated below, the ideal candidate will possess many of the following professional and personal abilities, attributes, and experiences:
- Seven to ten years of institutional investment management experience, preferably at an endowment, foundation, plan sponsor, or consulting firm. CFA a plus.
- Knowledge and experience investing across asset classes, especially alternative asset classes including hedge funds, private equity, venture capital, real estate, and real assets.
- Knowledge and experience mission related investments and program related investments
- Self-motivated with a strong ability to prioritize responsibilities and work on multiple projects with limited direction
- Detail-oriented and analytical, with the ability to think critically and constructively challenge others
- Knowledge of investment theory, financial markets, tax concepts and regulations and financial analysis
- Exceptional written and verbal communications skills and ability to convey complex information and data visually and orally in a concise, effective, and engaging way.
- Ability and willingness to travel periodically.
- Passionate about The California Wellness Foundation’s mission to protect and improve the health and wellness of the people of California
If interested, please apply here.
