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Type of Role: InvestmentsRisk

Experience Level: VP/Principal/Director

Location: Houston, Texas

Salary: $120K - $180K

Rice University is ranked among the nation’s top 20 universities by U.S. News & World Report. Rice has a 6-to-1 undergraduate student-to-faculty ratio, and a residential college system, which supports students intellectually, emotionally and culturally through social events, intramural sports, student plays, lectures series, courses and student government. Developing close-knit, diverse college communities is a strong campus tradition, which is why Rice is highly ranked for best quality of life and best value among private universities.

Portfolio Risk Manager 

Are you an investment risk manager that would like to make a meaningful impact for the future of students at a prestigious higher education institution?  Does long-term investing appeal to you? Then keep reading about a unique opportunity to join our investment operations team as a Portfolio Risk Manager.

The Rice University endowment is approximately $8 billion and ranks in the top 20 endowments of private research universities (by market value) in the US. The endowment is critical to the university’s ability to achieve its goals. The annual distribution from the endowment funds about 40% of the university’s annual operating budget which includes providing access to students regardless of ability to pay. Rice Management Company (RMC) is a division of Rice University with the goal of providing a stable source of funding for current university operations and to preserve and grow the purchasing power of the endowment to benefit future generations of students. RMC is responsible for asset allocation, the selection and termination of investment managers, monitoring performance of the portfolio, and reporting to the Rice Management Company Board of Directors. The endowment primarily utilizes third-party investment managers and invests globally across all asset classes.

Position Summary

The Portfolio Risk Manager facilitates endowment risk management through multi-asset class performance analysis, quantitative analytical modeling, and portfolio risk reporting.  The individual will report to an Associate Director and work closely with the investment team including the Chief Investment Officer (CIO).

The Portfolio Risk Manager will use their quantitative skills to design and develop data driven analysis and models, playing an integral role in the investment office. The portfolio- and position-level analysis, data, and reporting will supplement the team’s investment research and analysis and ultimately support RMC’s portfolio decision making.

The position requires a strong work ethic, attention to detail, quantitative and analytic skills, the ability to work in teams, self-motivation, good written and communication skills, advanced experience with computers, and an interest in investing.

Required Qualifications

  • Enthusiasm for solving problems and ability to convert complex ideas and results into simple, transparent terms for end users
  • High degree of attention to detail
  • Advanced capabilities in applied statistical analytics and quantitative modeling for endowment or institutional investor risk management
  • Understanding of modeling challenges associated with non-transparent holdings and long-term illiquid exposures including drawdown investment structures
  • Demonstrated knowledge of key portfolio risk concepts such as beta, VAR, upside/downside capture, Sharpe ratio, etc.
  • Strong interpersonal skills and compatibility with a team-oriented environment
  • High proficiency with Microsoft Office Suite, specifically Excel, PowerPoint, and Word and advanced portfolio risk modeling or software tools; Familiarity with visualization tool such as Tableau
  • Strong programming and scripting skills with knowledge of one or more software tools such as MATLAB, Python, R, SQL, and VBA

Experience Required

  • Minimum of 3 years of portfolio experience in risk and applicable quantitative analytical work experience at an investment firm, investment bank, endowment, institutional investor, or similar organizations.

Education Required

  • Bachelor’s Degree in Finance, Statistics, Computational Finance, or other similar areas required

Essential Functions

  • Collaborate with the reporting and investment team to create, interpret, and maintain various risk models to identify systematic risk exposures, key drivers, risk/return trade-offs, and implications for portfolio asset allocation
  • Responsible for extracting and analyzing data related to portfolio monitoring; designing, building, and maintaining quantitative models; and producing accurate and timely reporting on a scheduled and ad-hoc basis to track portfolio risk metrics
  • Develop, maintain, and produce risk reports for exposures, liquidity, asset allocation analyses, which include portfolio factor exposures, stress testing, peer group comparisons, expected long term asset class returns and volatilities, and other modeling portfolio optimizations
  • Presents analysis, data-driven commentary, and reporting results using effective written and spoken communication that explains model components, outcomes, and data anomalies clearly
  • Assist operations and investment team management with coordinating the development, integration, and maintenance of existing risk databases, systems, and analytical tools; drive the resolution of system limitations; and research, evaluate, and recommend new tools and methods as needed
  • Identify risk reporting inefficiencies, and recommend appropriate control procedures to ensure data integrity and reconciliation
  • Able to work with key internal (Chief Investment Officer, Investment and Investment Operations professionals) and external (consultants and service providers) stakeholders
  • Serves as a subject matter expert for portfolio risk, maintains external network of thought partners, and actively researches new trends, software, or approaches by risk management professionals
  • May supervise an intern
  • Performs all other relevant duties as assigned

Preferences

  • Strong preference for 4-5 years of experience
  • Strong preference for Master’s degree or higher
  • CFA or CIPM designation preferred

Rice University HR | Benefits: https://knowledgecafe.rice.edu/benefits 

Rice Mission and Values: Mission and Values | Rice University

Rice University is an Equal Opportunity Employer with commitment to diversity at all levels, and considers for employment qualified applicants without regard to race, color, religion, age, sex, sexual orientation, gender identity, national or ethnic origin, genetic information, disability or protected veteran status.

Faculty and staff are expected (but not required) to have completed a full vaccination series for COVID-19 (currently defined as full course COVID-19 Vaccine (typically two shots of a WHO-approved COVID-19 Vaccine or one J&J) and a COVID-19 booster. Rice does not require documentation for COVID 19 vaccination at this time for faculty and staff. More information can be found here: https://coronavirus.rice.edu/policies