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Type of Role: Investments

Experience Level: Managing Director/CIO

Location: Princeton, New Jersey

Salary: $390K - $400K

The Robert Wood Johnson Foundation (RWJF; the Foundation), located in Princeton, N.J., is the largest philanthropy in America dedicated solely to health. Since 1972, we have focused on developing and promoting innovations in health and healthcare to improve the lives of millions. In partnership with others, we are working toward a nation that is rooted in equity, compassion, and respect; a nation that provides everyone in America a fair and just opportunity to thrive, no matter who they are, where they live, or how much money they have. This requires addressing many harmful obstacles to wellbeing, including poverty, powerlessness, and discrimination.

About This Opportunity

The managing director will be a member of an Investments department that manages RWJF’s endowment to grow its purchasing power and provide stable resources for grantmaking. The managing director is part of a four-person public markets team that is responsible for prudently allocating RWJF’s endowment to the most compelling investment firms and opportunities globally. The team invests primarily via external investment managers across a variety of strategies including equities, hedge funds, credit, and fixed income. Our culture is flat, with each team member covering a broad selection of existing and prospective relationships, as opposed to individual public asset classes. We embrace continual learning, transparency, behavioral analysis, and a long-term philosophy.

The ideal candidate will have a flexible mindset and enjoy collaboration and frequent, intense debate with a group of colleagues from a diverse set of backgrounds. The managing director will be a member of RWJF’s Internal Investment Committee and is expected to contribute to all major investment decisions.

As with staff at all levels of the Robert Wood Johnson Foundation, the managing director is expected to demonstrate a passionate commitment to equity, to the Foundation’s mission, and its Guiding Principles.

Job Duties and Responsibilities

  • Work alongside the head of Public Markets to lead investment strategy, portfolio construction, manager sourcing, due diligence and ongoing monitoring for public asset classes.
  • Contribute to broader portfolio decisions regarding private investments, asset allocation, and portfolio positioning.
  • Cultivate a broad network of industry contacts, represent the Foundation in the investment management community, and serve as an active proponent for institutional investors’ interests.
  • Assist with recruiting, management, mentoring, and professional and career development of team members.
  • Prepare and present materials for internal discussions, investment committee meetings, or external team members.
  • Support and contribute to Foundation-wide initiatives.

Qualifications

  • Commitment to racial and health equity and the Foundation’s vision, values, and Guiding Principles.
  • Experience working effectively in an inclusive environment as part of a multidisciplinary team with people from diverse cultural, social, and ethnic backgrounds.
  • Minimum of 10 years of institutional investing experience, including managing a multi-asset class and/or multi-manager portfolio.
  • Investment leadership in public market asset classes; direct investing experience is a positive.
  • Track record of outstanding long-term investment performance and accountability for achieving objectives.
  • Strong judgment and initiative, as well as ability to conduct rigorous research and analysis.
  • Outstanding interpersonal and communication skills, and ability to work collaboratively.
  • Ability to produce high-quality written materials and present complex ideas and investment theses to internal and external parties. Work samples will be required throughout the interview process, potentially including the candidate’s track record, an investment memorandum, and case study.
  • Ability to travel, domestic and international.
  • Dedication to learning, improvement, and professional development.
  • MBA and/or CFA preferred.

Physical Requirements/Working Conditions

The managing director will perform job duties in a typical business office environment. Specific physical abilities required by this job include operating basic office equipment. Will be required to attend meetings, potentially both in person and off-site via phone or videoconference. Some domestic and international travel will be required. Reasonable accommodation may be made to enable individuals with disabilities to perform essential functions.

This position is assigned to our Princeton, N.J. headquarters offices. Ability to work out of RWJF’s New York City and Princeton, N.J. offices per Foundation Hybrid: Flexible Purpose operating model.

As of January 1, 2023, the Foundation has implemented a Hybrid: Flexible Purpose operating model. All RWJF employees will be required to come into Foundation offices during the year for purposes related to their position such as critical tasks (e.g., building operations, grantee meetings), organizational events (e.g., training and development), and internally focused team activities. All RWJF offices remain open for all Foundation employees for focused work, optional organizational activities, and connecting with colleagues informally as needed for individual purposes.

Salary

The starting salary range for the managing director is $390,000 to $400,000. The managing director participates in a bonus pay program based on investment performance outcomes. Why work at RWJF? Learn more about the benefits of working at RWJF.

Application Deadline: September 10, 2023

The Robert Wood Johnson Foundation is an equal opportunity employer and strongly encourages applications from people of color, persons with disabilities, women, and LGBTQ+ and other underrepresented applicants.