The Chief Investment Officer (CIO) reports to the Chief Executive Officer (CEO) and is responsible for managing the investment portfolios of the Long-Term Investment Pool (LTIP), and Non-Endowed Funds (NEF); and also serves as the Risk Officer for the University’s investment programs.
The CIO manages and mentors the Penn State Investment Team, while representing the Office of Investment Management (OIM) in all investment matters. The CIO oversees a variety of analytical and managerial duties related to planning, organizing, and directing all investment functions within OIM. The position also coordinates overall investment strategies and portfolio construction, in alignment with the LTIP and NEF strategic objectives and risk parameters. The CIO directs and oversees analyses of multiple asset classes in implementation of multiple investment strategies while also monitoring investment performance, manager reviews, and underlying risks. The position also develops and maintains proactive measures to manage risk and adjust asset allocations as appropriate.
The CIO evaluates and approves regular qualitative and quantitative risk reports used in portfolio management and decision-making. The position will conceptualize and articulate complex financial and investment information in a manner that is understood by different stakeholders. Further, the position defines, develops, and communicates risk management standards and concepts to the investment team and the Penn State Investment Council (PSIC).
The CIO position provides direction and guidance for prioritizing research, writing, and publishing reports on a quarterly, semi-annual and annual basis, with the support of the Deputy CIO and the investment team. Published reports will present in-house (OIM) views on asset classes, portfolio investments, and the overall economy and investment markets. These reports may include newsletters, statistical reports, and financial reports to be shared with internal teams and external stakeholders, including the PSIC and University’s Board of Trustees (BOT). The CIO is responsible for conducting and supervising investment research on varied topics such as asset class valuations, assessment of the macro-economic environment, and best practices in investment management. Establishing and cultivating relationships within the investment community and among peer institutions is paramount in leveraging relationships for OIM. Hence, the CIO manages these relationships together with consultants, custodian banks, and other investment professionals in the furtherance of OIM’s strategic interests.
The CIO must be an institutional leader and strategic thinker, with the ability to advance projects from “ideas to outcomes.” Crucial to the success of the CIO position is having strong project management/leadership skills and the emotional intelligence to influence culture. The CIO must have the poise, presence and interpersonal skills to build collaborative relationships within OIM as well as with the PSIC, the University Board of Trustees (BOT), University Corporate Controller’s Office, and peer institutions comprising the Big Ten, among others. The ability to conceptualize and articulate complex financial and investment information in a manner that is tailored to and understood by various groups is an essential skill. In addition to being strategic, the CIO must also demonstrate a willingness to be tactical and possess the following attributes: engaging and inspiring; collegial and collaborative; good listening skills and judgment; the highest integrity and ethics; flexibility; intellectual curiosity; and must be open and transparent in all communication.
The successful candidate must have:
- Bachelor’s degree plus 12 years of related experience, or an equivalent combination of education and experience.
- A Master’s degree in Finance or related discipline (MBA or similar Master’s degree preferred), plus fifteen years of related experience, is preferred.
This individual must also be a CFA Charter-holder. Penn State and the Office of Investment Management are committed to fostering diversity, inclusion, and equal opportunity. Please provide a cover letter and resume.