Investment Manager – Internal Portfolios
Reports to: Chief Investment Officer, Senior Vice President of Operations
Position Status: Full-Time, Exempt/ Permanent
Location: Hybrid, 3 days in office (Tues- Thurs)
Hiring Salary Range: $110,260- $124,043
The investment manager – internal portfolios works closely with the chief investment officer (CIO) to manage the direct investment program of the Foundation. The primary focus for the position is the management and oversight of the internally managed portfolios, known as the Legacy Funds family. The position acts at the direction of the CIO and the Investment Committee to ensure compliance with each portfolio’s investment policy and associated risk profile.
PRIMARY DUTIES AND RESPONSIBILITIES
- Coordinates searches, interviews and hiring new managers with consultant.
- Serves as secondary Investment Committee liaison, working closely with the CIO to set and communicate the agenda for each meeting, as well as working with consultant to assemble the committee book.
- Responsible for due diligence and monitoring of investment managers of the internally managed portfolios in concert with the CIO.
- Regular monitoring of current investments through update calls, onsite meetings, attendance at private asset annual meetings and select industry conferences.
- For all internally managed portfolios: monitor holdings, investment managers and periodically review asset allocation for potential updates and rebalancing.
- Evaluation of prospective private asset, hedge fund and public investment opportunities that are sourced internally, suggested by the Investment Committee or presented by the investment consultant. This includes manager meetings, review of due diligence reports provided by the consultant, review of private placement memorandums and limited partnership agreements.
- Write recommendations and reports as well as present to the Investment Committee on various topics including manager updates, pending private equity investments, new manager proposals and new investment portfolio options for donors.
- Investment manager – internal portfolios serves as backup to the investment manager – external portfolios and impact.
- Serve on the internal TPIM program investment sub-committee to approve and terminate managers.
- Manage and track Foundation assets that are held as part of the master custody process within the Clearwater software program, particularly those related to the internally managed portfolios.
- Identify areas across the Investment department where improvements can be made related to cost reduction and creating efficiencies within the various processes.
- Represents the Foundation at various investment management conferences and seminars.
- Work with the CIO, other members of the Investment team, the accounting team, or other departments on ad-hoc projects as needed.
- Moderately high amount of travel to facilitate the above activities.
KEY SKILLS AND ABILITIES
- Proven ability to work successfully with diverse populations and demonstrated commitment to promote and enhance diversity, equity and inclusion. • Commitment to the Foundation’s values of accountability, collaboration, community, racial justice and trust.
- Candidate must display the trait of confidentiality and discretion.
- Excellent verbal and written communication skills are required, with a strong ability to network and represent the Foundation when traveling to meetings and conferences.
QUALIFICATIONS AND EXPERIENCE
- More than five years of experience in investment management, with a thorough understanding across asset classes and styles.
- BS in Finance/Investment Management or similar degree.
- MBA or CFA designation preferred, CAIA designation a plus.
- Understanding and analysis of investment management performance reporting, including experience with investment performance and portfolio aggregation software.
- Experience with portfolio asset allocation, investment strategies and risk management.
- Private asset analysis and due diligence (preferred).
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