Manager of Investments Idaho Endowment Fund Investment Board
Open for Recruitment: July 5, 2017 - August 14, 2017
Announcement # NONCLS039520
Salary Range: $140,000-$200,000 per year depending on experience
-Plus Competitive Benefits!*
Location: Boise, Idaho
SPECIAL NOTIFICATION: This position is exempt from classified state service and the rules of the Division of Human Resources and the Idaho Personnel Commission.
Due to an upcoming retirement, the Idaho Endowment Fund Investment Board is seeking a leader to be both the chief investment officer and the chief executive officer of the four-person staff of the Board. The Idaho Endowment Fund Investment Board is responsible for managing approximately $2.8 billion of assets consisting of state land grant endowment funds ($2.0 billion), the financial assets of the State Insurance Fund ($700 million), a workman's compensation insurer, and five endowments for three other state agencies ($75 million). The Manager of Investments serves as a fiduciary to the investment funds of the five clients and coordinates fund investment activities with the Idaho Department of Lands in their management of 2.4 million acres of endowment trust land, with value in excess of $1 billion.
The Manager of Investments is appointed by and serves at the pleasure of the Investment Board, which consists of nine individuals appointed by the Governor and confirmed by the Senate. In addition to its staff, the Board has retained an outside investment consultant and placed all fund investments with 17 outside managers.
• Select, retain and engage agency staff
• Oversee management of client financial assets, including monitoring investment policy and investment managers and reporting to clients, the Investment Board, and other stakeholders
• Recommend for approval and implement board decisions on agency policies and client investment policies
• Recommend selection and discharge of investment managers, custodians, and consultants
• Recommend Distribution Policy for the endowment funds, including forecasting land and fund income and volatility
• Serve as the primary liaison with the Department of Lands to support the State Board of Land Commissioners in providing unified governance of land grant trust assets (endowment land and endowment fund)
• Serve as the primary spokesman for the Investment Board with clients and key stakeholders
• Oversee preparation of budgets, cost allocations, and annual audited financial statements
• Make formal presentations to Land Board , Legislative Committees, and others on the behalf of the investment Board
• Knowledge of fiduciary duty and commitment to professional ethical behavior
• Five years of experience in institutional investing
• Earned bachelor's degree from an accredited college or university or a combination of education, training, or relevant professional experience that demonstrates competence and the ability to apply acquired skills
• Excellent written and verbal communication skills
• Proven experience in public speaking
• Demonstrated interpersonal skills to develop an effective working relationship with a diverse population, including board members, agency heads, elected and public officials, industry and business leaders, staff, and the public-at-large
• Experience in a senior or leadership management position that includes supervisory responsibilities
• Ability to pass the appropriate background checks
Preference may be given to candidates who have:
• MBA, CFA, or CPA
• Substantial experience in asset allocation, manager selection and monitoring, or investor relations
• Experience serving under the oversight of a governing board
• Understanding of the legislative process and budget development
• Experience working in a public, transparent environment
• Familiarity with management of timberland assets
• Experience in financial forecasting/modeling
• Familiarity with preparation of audited financial statements, including drafting footnotes
Submit a letter of interest indicating how you are qualified for the position, a resume, and at least six references that can attest to your ability to meet the position requirements with their name, email address and phone number.
State of Idaho Division of Human Resources
Attn: "EFIB MOI"
304 North 8th Street
P.O. Box 83720 Boise, ID
E Mail: email@example.com as a Microsoft Word attachment with subject line "EFIB MOI"
For additional information regarding the Endowment Fund Investment Board, visit the Board's website at efib.idaho.gov. For information on this position, contact Joe Webber, Idaho Division of Human Resources at 208-854-3056 or firstname.lastname@example.org
*The Manager of Investments is eligible for five weeks of vacation per year.
Hiring is done without regard to race, color, religion, national origin, sex, age or disability. In addition, preference may be given to veterans who qualify under state and federal laws and regulations. If you need special accommodations to satisfy testing requirements, please contact the Idaho Division of Human Resources