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Type of Role: Investments

Experience Level: Managing Director/CIO

Location: St. Paul, Minnesota

Salary: $190K - $285K

The University of Minnesota (formally the University of Minnesota, Twin Cities) is a public land-grant research university in the Twin Cities of Minneapolis and Saint Paul, Minnesota, United States. It is the flagship institution of the University of Minnesota System, and is organized into 19 colleges, schools, and other major academic units. Details below.

The Senior Investment Director will report directly to the Chief Investment Officer (CIO), Andrew Parks, and focus primarily on the endowment, with an emphasis on asset allocation, portfolio design, and public and private equity-oriented investments. While the position is intended to be equity-centric, it is expected that the Senior Investment Director will maintain involvement across the full spectrum of liquid and illiquid asset classes and strategies employed in the endowment, also including: overlays/derivatives, traditional rates and credit, private credit, real assets and hedge funds. Area(s) of focus at any point in time will be directed by the CIO based on an amalgamation of considerations such as market environment and opportunity, current portfolio dynamics, and/or the Senior Investment Director’s particular areas of expertise or familiarity.

This individual will be responsible for conducting deep-dive initial and ongoing due diligence on investment strategies and managers across various asset classes with a particular focus on equity-oriented strategies. The Senior Investment Director will also play a key role in shaping portfolio strategy and design in partnership with other members of the OIB Investment team. They will lead research projects regarding various asset classes, investment strategies and/or thematic market opportunities. It is expected that they will collaborate with fellow members of the OIB investment team on strategic research and manager due diligence. Externally, this individual will cultivate networks and relationships across the industry to improve sourcing quality and stay abreast of key trends and best practices.

The OIB operates in a highly collaborative nature, with team members who appreciate the opportunity to discuss and constructively debate ideas, theses or analysis. That said, it remains a relatively lean group and work is often focused on and regulated by specific personal goals and milestones; this individual can generally act based on their own judgment as long as actions adhere to policy and operating procedures, and remain focused on objectives.

In addition, the Senior Investment Director will: 

  • Produce detailed investment memorandums and summaries for presentation to the Investment Advisory Committee.
  • Assist in the preparation of investment committee meeting materials.
  • Partner with the Operations Director and internal General Counsel to review and negotiate legal documents.
  • Represent the OIB in interactions with key external and internal relationships and stakeholders, often functioning as a surrogate for the CIO.
  • Provide additional support to the aforementioned ancillary programs, depending on OIB priorities and the chosen candidate’s experience, skillset and/or interest level, likely to comprise less than 15% of the Senior Investment Director’s time.
  • Provide operations and administrative support, likely to comprise less than 5% of the Senior Investment Director’s time.
  • Travel domestically and internationally, likely representing between 5-25% of the Senior Investment Director’s time.

Candidate Profile 

The Senior Investment Director will bring at least 12 years of relevant, transferable experience at an asset owner (endowment, foundation, pension, family office, etc.), with an accomplished track record investing in public and private equity markets, particularly private equity and venture capital, and demonstrated expertise in multi-asset class portfolio design and implementation. We are also open to individuals who have instead been employed in investment research capacities, buy-side roles and/or consulting roles with OCIOs, fund-of-funds or similar platforms. The successful candidate will have experience sourcing, conducting due diligence and monitoring investment strategies, including co-investments, with the proven ability to conduct robust soup-to-nuts sourcing and due diligence. In addition to evaluating prospective new investments, the Senior Investment Director will monitor existing portfolio investments and re-underwrite managers as needed. They will communicate observations with the broader investment team including operations professionals, documenting relevant conclusions as appropriate. It is expected that this individual will apply innovative analytical techniques and diligence to evaluate the potential risk / reward attractiveness of prospective managers and investments under consideration.

In terms of the performance and personal competencies required for the position, we would highlight the following: 

Key Personal Attributes 

  • Detail oriented and highly analytical with a curious and investigative approach to diligence and problem solving.
  • Strong verbal and written communication skills. Able to articulately and persuasively state and support a thesis.
  • Familiarity with data and information management systems and processes.
  • Exceptional interpersonal skills and a demonstrated ability to present information to constituents with varying levels of investment fluency.
  • Demonstrated alignment with the values of the organization: integrity, honesty, respect, confidentiality, hard work, steadiness, and teamwork.
  • Excellent communication skills including superior listening skills, combined with credibility to earn the respect, trust and confidence of colleagues, IC members and other key stakeholders. The ability to communicate concisely, using simple, clear, often digital methods.
  • A proclivity for simplifying in the face of complexity and a hands-on approach helping an organization drive efficiency (leveraging internal and external resources, as needed).
  • Intellectual curiosity, creativity, high EQ, patience, and commitment to achieving excellence.
  • Must maintain a high level of confidentiality and an appreciation for the sensitivity of proprietary information.

Qualifications

Preferred / Required Qualifications and Experience: 

  • Level 1 Director: BA/BS degree plus at least 12 years of experience.
  • Level 2 Director: BA/BS degree plus at least 15 years of experience.
  • A bachelor’s degree in economics, finance, accounting or related disciplines is required.
  • A CFA is strongly desired. Other degrees and/or certifications viewed favorably include: CAIA, MBA and/or other advanced degree in finance or related disciplines.
  • Experience developing and implementing multi-asset class portfolio construction models and frameworks.
  • Position Specification Senior Investment Director University of Minnesota
  • Familiarity with processes and procedures relating to ESG measurement and management.
  • Familiarity with the unique asset/liability and investment management considerations associated with the management of other non-endowment pools of institutional capital, including defined contribution retirement plans, operating pools, etc.
  • The ability to effectively develop relationships and credibility with the institutional asset management community. A strong existing network of relationships will be viewed favorably.
  • The ability to promote the development of new ideas, areas of research, and methods of investing and communicate observations with the investment team.

Benefits

Working at the University

At the University of Minnesota, you’ll find a flexible work environment and supportive colleagues who are interested in lifelong learning.  We prioritize work-life balance, allowing you to invest in the future of your career and in your life outside of work.

The University also offers a comprehensive benefits package that includes:

  • Competitive wages, paid holidays, and generous time off
  • Continuous learning opportunities through professional training and degree-seeking programs supported by the Regents Tuition Benefit Program
  • Low-cost medical, dental, and pharmacy plans
  • Healthcare and dependent care flexible spending accounts
  • University HSA contributions
  • Disability and employer-paid life insurance
  • Employee wellbeing program
  • Excellent retirement plans with employer contribution
  • Public Service Loan Forgiveness (PSLF) opportunity
  • Financial counseling services
  • Employee Assistance Program with eight sessions of counseling at no cost

Please visit the Office of Human Resources website for more information regarding benefits.