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Type of Role: Investments

Experience Level: VP/Principal/Director

Location: Menlo Park, California

Salary: $285K - $335K

The William and Flora Hewlett Foundation is a nonpartisan, private charitable foundation that advances ideas and supports institutions to promote a better world. For more than 50 years, it has supported efforts to advance education for all, preserve the environment, foster gender equity and responsive governance around the world, support vibrant performing arts, serve Bay Area communities, and make the philanthropy sector more effective. In addition, we also make grants for special projects and to address other timely problems, such as challenges related to cybersecurity. Our newest program focuses on strengthening U.S. democracy. In 2020, the foundation announced a new grantmaking commitment focused on racial justice. The Hewlett Foundation’s assets are approximately $12.5 billion with annual awards of grants totaling more than $600 million.

The Investment Department’s mission is to pursue an investment strategy that generates optimal risk-adjusted returns that are sufficient, over time, to sustain the real value of the Foundation’s endowment net of payout. The investment portfolio is widely diversified by geography and across a range of asset classes. All investments are made through a best-in-class group of external managers. The team embraces diversity as a core value of our team culture alongside intellectual curiosity, integrity, passion for investing and high performance.

About the Position

The Associate Director’s primary responsibility will be to participate in manager selection and oversight across the three distinct asset classes: Public Equity, Low and Intermediate Risk Assets, and Real Estate. These asset classes collectively represent roughly 60% of the portfolio. The Associate Director will work closely with both the Managing Director of Public Equity and Managing Director of Public Investments.

The Associate Director will be a critical part of our ten-person investment staff and will report to the Managing Director of Public Investments.

In addition, the Associate Director will:

  • Work closely with Managing Directors in monitoring and analyzing the existing investments in the portfolio, including detailed analytical work of underlying investment holdings, maintaining active communication with general partners, attending annual meetings, and reviewing quarterly correspondence.
  • Perform due diligence for prospective investments and assist in manager selection by evaluating the team and strategy, driving analysis of holdings and attribution, and preparing recommendations for the team.
  • Develop and manage quantitative analyses of manager-specific and asset class performance and risk characteristics.
  • Support team efforts on modeling and analysis of benchmarks, performance, risk, and liquidity.
  • Research broad industry trends and support the investment team in various projects as required.

Qualities We Are Looking For:

  • Intellectual curiosity: You want to dig deep, ask questions, learn and exchange ideas.
  • Passion for investing: You love the market and love learning about business models, growth opportunities and inherent risks.
  • Competitive streak and intense work ethic: You’re driven to find the best investments and are willing to put in the work to make it happen.
  • Highly adaptable: You are comfortable on a small team, can prioritize quickly and are energized by making sure investment processes stay on track.
  • Culture add: You contribute to the team and culture. You pride yourself on kindness, integrity and not taking yourself too seriously.
  • Humility: You value having the space to admit mistakes and drive to learn from them.
  • Effective communication: You know when to listen, when to question, and have a proven ability to get your point across.

Required Skills and Knowledge

Candidates should have 8-10 years of institutional buy-side or sell-side research experience. MBA or CFA preferred.

The following specific skills are required:

  • Demonstrated knowledge of financial markets and public asset classes.
  • Mastery of quantitative methods and analytical capabilities required for complex problem solving.
  • Excellent oral and written communication skills with proven ability to develop and defend investment views.
  • Expert knowledge of Excel, Bloomberg analytics, and ability to create and manipulate complex financial models.
  • Ability to multitask and prioritize among many time-sensitive demands.
  • Team orientation.
  • Interest in supporting the work of a philanthropic foundation.

Demands/Work Environment

The physical demands described are representative of those that must be met by an employee to successfully perform the essential functions of this position. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

The position is based in Menlo Park, California. The foundation is working in a hybrid environment, with the investment team working in the office three to four days per week and remotely on Fridays. While performing the duties of this job, the employee is required to spend extended hours at the computer. This position also requires periods of frequent of travel. The Foundation requires all staff, vendors, and visitors accessing the office to be fully vaccinated against SARS-CoV-2, the virus that causes COVID-19 (including boosters when eligible).

Compensation and Benefits

The Hewlett Foundation is committed to providing compensation that is competitive within the philanthropic sector. We offer a generous total compensation package that emphasizes both base salary and comprehensive benefits. The package for this role includes a salary in the range of $285,000-$335,000 and an annual incentive program. This position is exempt and full-time. Offers are based on the candidate’s years of experience and our practice of maintaining salary equity within the foundation.

To Apply

We’d love to hear from you! Please apply online and submit a resume and cover letter addressed to Brett Johnson, explaining your interest and how your skills fit this position.

The William and Flora Hewlett Foundation embraces the importance of diversity, equity, and inclusion, both internally in our hiring process and organizational culture, and externally, in our grantmaking and related practices. We are an equal opportunity employer, and welcome applications from people of all backgrounds, cultures, and experiences.