The Saint Paul & Minnesota Community Foundations are currently seeking applicants for the Director of Investments position. 

The investments team stewards the assets of the Saint Paul and Minnesota Community Foundations 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 the assets of the Foundations and its affiliates.

Reporting to the Chief Investment Officer (CIO), the Director of Investments is a senior member of a small team that invests over $1.3 billion of charitable assets across multiple foundations, numerous portfolios/strategies and investment relationships.  The Director of Investments represents and advances the organization’s mission, vision and values, by providing day-to-day analytical support for all investment functions related to the strategic and tactical oversight of the Foundations’ assets, as well as contributing to the senior leadership of the investment team.

This position is responsible for:

Investment Manager Due Diligence and Monitoring

• Write recommendations and share knowledge regarding markets and managers with the CIO, investments team and investments committees.
• Perform ongoing monitoring and due diligence on current investment managers performance and their team’s investment process.
• Proactively source and evaluate general, as well as minority-owned and mission investment managers across a broad range of asset classes; maintain a pipeline of prospective managers.
• Perform due diligence on prospective managers including analysis of investment strategy, track record, manager competitive advantages/weaknesses, risk management, operations, team strength, conduct reference checks, review audited and unaudited financial statements, and review  investment documents.
• Depending on asset class assignments, domestic travel could be up to 25 percent.

Portfolio Management

• In conjunction with the CIO, review economic trend data and stay current with general capital market developments.

• Support strategic investment planning by performing asset class research and portfolio level analysis in support of asset allocation, portfolio construction and future investment commitments.

• 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 the finance & operations committee.

• Serve as a member of the Foundations’ retirement plan and charitable trust committees.  Monitor and perform due diligence on investment options as assigned.

• Manage the Administrative Fund’s short-term cash pool investments.

• Research and develop the perspective on mission investing.  Participate in assisting the Foundations to develop approach to mission investing.

• Oversee the transfer of funds between investment managers to fund new managers, capital calls, grants, or reallocation of assets to maintain the asset allocation targets for assigned portfolios.

Staff Assigned Investment Committees

• Effectively support and collaboratively work with the committee chairs to develop annual committee work plans, meeting topics and agendas, and provide appropriate leadership.

• Provide overall committee meetings support including preparation of meeting agendas and materials, draft minutes and implement action items, etc.

Donor/Prospect Engagement

• Meet with donors and prospects; present the Foundations’ investment portfolios and investment strategy in conjunction with the philanthropic services team.

Operations

• Take a leadership role in managing investment back-office functions including performance, reporting, contracts and presentations.

• Serve as back-up to investments operations for daily operations and perform other duties as assigned.

• Actively participate in improving business processes and use of investment management software.

• Assist with annual audit of financial statements; review draft investment footnotes and financial statements and assist in work plan preparation as required.

• Develop and deliver ongoing investments training for new and existing employees.

Position requirements include:

• Passion for institutional endowment investing and strong work ethic.

• 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, MBA, CAIA, CPA).

• Strong understanding of and experience in capital markets, portfolio construction and management, asset allocation theory and financial modeling, multiple asset classes, benchmark analysis and performance measurement.

• Additionally, a strong generalist with experience working with the following asset classes: marketable securities (equity and fixed), hedge funds, venture capital and buy-out funds, private real estate, private real assets and commodity related investments, including timberland and oil & gas partnerships is a plus.

• Strong knowledge of quantitative techniques and risk management and the ability to leverage the manager selection process and overall assessment of portfolio risk and return.

• 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.

• The ability to effectively manage a small team within a lean operation without heavy support staff, overhead, or hierarchy.

• 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 team members must be flexible and able to adapt to short- and long-term shifts in job duties.