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Type of Role: InvestmentsRisk

Experience Level: Analyst/Associate

Location: Charlottesville, Virginia

Salary: $K - $K

University of Virginia Investment Management Company (UVIMCO) provides investment management services to UVA and its associated organizations. We are responsible for evaluating, selecting, and monitoring investment strategies for a $14 billion endowment portfolio. Our portfolio is invested globally across a broad range of asset classes and strategies including public equity, hedge funds, private equity, venture capital, real estate, resources, cryptocurrencies, credit, fixed income, and derivatives. The vast majority of our investments are implemented through long-term partnerships with world-class external fund managers. The Investment Intern position is a unique opportunity to join a team of experienced investment professionals motivated to generate exceptional returns to further the mission of UVA.

The Asset Allocation and Risk Management (AARM) team has three primary responsibilities:

1) Risk measurement: estimating risk metrics and exposures for the total portfolio and sub-strategies. AARM utilizes a proprietary risk system, and this responsibility includes utilizing, maintaining, and further developing this internal risk system.

2) Risk management: synthesizing outputs of the risk measurement processes for UVIMCO’s Chief Investment Officer and Risk Committee. This includes recommending portfolio management actions and assisting in the management of UVIMCO’s overlay portfolio.

3) Consulting: providing quantitative research and analysis to other internal UVIMCO groups as well as to outside stakeholders.

Position Overview

The Associate role is an opportunity to work directly with senior management in a small, flat, investment organization. The Associate’s primary role is to be the internal expert on the risk and asset allocation database and analytical systems, as well as to drive further development of these systems. The associate will also lead consulting projects involving custom programming or quantitative research. The Associate will report to the AARM Director. Additional responsibilities:

1) Work collaboratively with the team to help generate attractive long-term real returns for the Long Term Pool while remaining within the risk tolerance of the University. Participate as a member of the Risk and Investment Committees;

2) Lead the development of UVIMCO’s data management and risk management systems by improving or developing new methodologies for risk measurement and asset allocation models;

3) Lead the data management efforts for risk and asset allocation data, including maintaining and improving the security master database;

4) Work with UVIMCO’s IT team to implement new models and database components into production using best practices;

5) Work with internal asset class teams to tailor risk models for each asset class;

6) Assist in the management of UVIMCO’s derivatives overlay; and

7) Provide quantitative support to the CIO, Risk Committee, and other Staff for research projects.

Position Requirements

The candidate must be a motivated self-starter and possess strong organizational skills, a strong work ethic, attention to detail, and a high level of professionalism and integrity. The candidate will have a strong technical background, and experience using R, SQL, and Python to complete full-stack model development projects. Demonstrated success in programming projects is required.

Additionally, the candidate should have:

1) An undergraduate degree from a top institution in a quantitative discipline such as Statistics, Economics, Physics, Engineering, Finance, Computer Science, Applied Mathematics, or Operations Research. A post-graduate degree in one of these fields is desired but not required.

2) A CFA Charter or demonstrated interest in pursuing the CFA Program.

3) Excellent written and verbal communication skills.

4) Demonstrated the ability to work effectively on an independent basis as well as in a collaborative team environment.

5) Two to four years of experience in quantitative finance, preferably involved with the portfolio management of endowments or other institutional investors. Candidates with zero to two years of experience in quantitative finance will be considered for an analyst-level role.

6) Experience with automated PDF reporting tools such as R Markdown (preferred) or Plotly or the desire to learn similar tools.

7) Experience with building HTML/web reports (e.g. using Shiny or Dash) or the desire to learn.

Employment Benefits

UVIMCO offers a competitive base salary, excellent benefits, and bonus opportunities in a business casual work setting in Charlottesville, VA.