DIRECTOR OF INVESTMENTS

Transcription

1 Position Profile DIRECTOR OF INVESTMENTS October 2016 Page 1

2 Overview Minnesota Philanthropy Partners are The Saint Paul Foundation, Minnesota Community Foundation, F.R. Bigelow Foundation, Mardag Foundation and more than 2,000 charitable organizations and donor funds. Together we provide charitable and financial expertise, connections and services to help all people and communities in Minnesota thrive. The investments team stewards the assets of Minnesota Philanthropy Partners and allied organizations. This experienced team has deep expertise in asset management services for foundations and nonprofit organizations. The team works closely with investment committees and professional asset managers to ensure the long-term growth of Minnesota Philanthropy Partners and its affiliates The director of investments is a senior member of a small team that invests $1.3 billion of charitable capital across multiple foundations, numerous portfolios/strategies and investment relationships. The director of investments represents and advances the organization s mission, vision and values. Minnesota Philanthropy Partners SHARED VISION Minnesota... where all communities and people thrive Mission for Minnesota Philanthropy Partners Working together to share knowledge and resources to benefit the communities we serve Mission for The Saint Paul Foundation Strengthening the East Metro as an integral part of a thriving region Mission for Minnesota Community Foundation Inspiring generosity to strengthen Minnesota communities Page 2

3 Functions The size of our portfolio ($1.3 billion in aggregate) allows us to work with top investment managers in the country, and our seasoned investment team ensures that our donors funds are managed for prudent, long-term growth. The Saint Paul Foundation and Minnesota Community Foundation The Saint Paul Foundation (TSPF) and Minnesota Community Foundations (MCF) investment partnership, the Community Investment Group (CIG), provides unified professional management of various portfolios: Multi-Asset Endowment, Balanced, Diversified Equity and Fixed Income. These portfolios invest with nearly 35 different investment managers. The community foundations are also organized as a charitable trust with assets in excess of $300 million. The investments team oversees and collaborates with various trust companies to manage these portfolios. F.R. Bigelow and Mardag Foundations The investments team staffs the F. R. Bigelow Foundation s investments committee in the management of its endowment. The portfolio is comprised of global public equity, fixed and various alternative asset strategies. The Mardag Foundation has decided to invest their endowment in the CIG Multi-Asset Endowment portfolio, which provides them access to investment managers and alternative assets they could not access as a stand-alone portfolio. Managing Various Donor Advised Programs TSPF and MCF serve donors by offering donor advised funds. The investments team manages the Foundations suite of investment options as well as individually managed funds and financial institution partnership portfolios. Board of Directors Audit Finance President & CEO Vice President of Analyst Director of Assistant Page 3

4 Key responsibilities of the position are: Investment Manager Due Diligence and Monitoring o Write recommendations and share knowledge regarding markets and managers with vice president, investments team and investments committee. o Perform ongoing monitoring and due diligence on current investment managers. o Proactively source and evaluate minority owned and majority investment managers across broad range of asset classes; maintain pipeline of prospective managers. o Perform due diligence on prospective managers including analysis of investment strategy, track record, manager competitive advantages/weaknesses, risk management, operation, team strength, reference checks, review of audited and unaudited financial statements, and review of investment documents. Portfolio Management o In conjunction with vice president, review economic trend data and stay current with general capital market developments. o Support strategic investment planning by performing asset class research and portfolio level analysis in support of asset allocation, portfolio construction and future investment commitments. o Oversee Individually Managed Funds and Financial Institution Partnerships portfolios including new manager due diligence, quarterly monitoring and additionally as needed, annual reviews and annual investment reporting to finance & operations committee. o Serve as member of Foundations retirement plan and charitable trust committees. Monitor and perform due diligence on investment options as assigned. o Manage Administrative Fund s short-term cash pool investments. o Research and develop perspective on mission investing. Participate in assisting Foundations to develop approach to mission investing. o Initiate transfer of funds between investment managers to fund new managers, capital calls, grants, or reallocation of assets to maintain asset allocation target for assigned portfolios. Staff Assigned Investment s o Effectively support and collaboratively work with committee chair to develop annual committee work plan, meeting topics and agenda and provide appropriate leadership. o Provide overall committee meeting support including preparation of meeting agenda and materials, draft minutes and implement action items, etc. Donor/Prospect Engagement o Meet with donors and prospects; present Foundations investment portfolios and investment strategy in conjunction with philanthropic services team. Operations o Serve as back-up to investments operations for daily operations and perform other duties as assigned. o Actively participate in improving business processes and use of investment management software. o Assist with annual audit of financial statements; review draft investment footnotes and financial statements and assist in work plan preparation as required. o Develop and deliver ongoing investmenst training for new and existing employees. Page 4

5 The following qualities would be exemplified by the ideal candidate: Passion for institutional endowment investing 10+ years of relevant experience working in investments within a foundation, endowment, family office, pension, fund of funds, wealth management or other investor or direct investment experience; familiarity with UPMIFA, donor advised funds, charitable trusts Advanced degree and certification preferred (e.g., CFA, CAIA, MBA, CPA) Strong understanding of and experience in capital markets, portfolio construction and management, asset allocation theory and modeling, alternative assets, benchmark analysis and performance measurement Experience performing research and analysis on various investment topics and conducting manager due diligence and monitoring Ability to present capital market opportunities/issues and investment managers to investments team and investments committees Demonstrated sales/customer relations experience with donors and prospects, presenting investment portfolio and capital markets information Curiosity and keen attention to detail Excellent problem-solving analytic abilities Self-starter with strong leadership, organizational, time management and people management skills Advanced Microsoft Excel skills and experience with investment management databases Demonstrated ability to effectively interact, communicate, and collaborate with people from cultural backgrounds other than your own The work of our organization changes as we continuously seek to have greater impact. All of our team members must be flexible and able to adapt to short and long-term shifts in their job duties. Page 5