POSITION TYPE: Full Time (35 hours per week), permanent. Some weekends and evenings will be required a few times during the year as it relates to committee and Board meetings.

REPORTS TO (TITLE): Director of Finance

LOCATION: The Foundation is a remote workplace and the majority of work performed in this role may be done from home or the Foundation's office in downtown Vancouver. Please note, however, this role is expected to meet regularly, in person, with financial professionals in downtown Vancouver, and any candidate residing outside of the Lower Mainland would require regular travel to Vancouver.

OFFICE ACCESSIBILITY: Our office is located on the 15th floor of a building with elevator access. Washrooms are gender neutral. The office has a dedicated Privacy room that is bookable and can be used for rest, sensory reduction, prayer, nursing, or other needs.

SALARY: $161,686 to $206,599 annual salary based on experience (we expect someone new to the Foundation to start at the lower end of this range)

ABOUT THE ROLE

The Managing Director, Investments is a key member of the Foundation's Finance team which supports the larger organization to create, amplify, and support innovative solutions to difficult access to justice challenges and systemic inequities that affect the well-being of diverse communities in British Columbia.

Reporting to the Director of Finance, the Managing Director, Investments plays a critical role within the Foundation, providing direction and leadership for our investment strategy. This role will work closely with the Foundation's Investments Subcommittee, Board of Governors, Executive Director, and Director of Finance in the development and execution of the Foundation's investment strategies, policies, and procedures.

This position is also responsible for risk management, monitoring the performance of investment managers, collaborating with the Director of Finance on strategy, performing detailed analysis and preparing comprehensive reporting, and ensuring a rigorous investments governance and compliance environment is maintained. This role provides independent, expert investment leadership to the Senior Leadership Team and Board, strengthening investments governance and ensuring the Foundation meets its fiduciary obligations.

The Foundation is at an exciting moment in our history, as we are midway through our [redacted] Strategic Plan. We actively pursue structural and operational change to respond to the new challenges we face. While the implementation of strategic priorities is an all-of-Foundation endeavour, it is intended that this position advances the Foundation's mission through the strategic plan's focus area of "Building a Thriving Foundation", which aims to provide the Foundation with strong infrastructure and resources to serve our mandate.

KEY RESPONSIBILITIES

Strategy, Policy and Procedure

• Develops and executes investment policy, strategy, and procedures to optimize returns at risk levels appropriate for the Foundation

• Works closely with the Director of Finance to ensure investment strategy, policy, and asset allocation align with the Foundation's financial outlook and liquidity needs

• Integrates the Foundation's values into investment strategy, policy, and decisions

• Brings forward innovative investment topics and ideas for discussion with Governors and members of the Senior Leadership Team

• Identifies and sources investment opportunities and products that support the Foundation's investment and mission objectives, including responsible investing goals

• Stewards the Foundation's mission and vision by clearly articulating the value of the Foundation's work to investment managers and other external parties

• Analyzes risk, return, and asset mix at the portfolio and manager level

• Identifies emerging risks and performs stress testing under various scenarios

• Oversees the annual review of the Foundation's Investment Policy

• Continually develops and applies the Foundation's Responsible Investing Philosophy

• Oversees periodic asset mix reviews, working in close collaboration with the Investment Advisor

• Collaborates with the Director of Finance in the selection of deposit products such as GICs, term deposits, and interest-bearing savings accounts, and in developing Treasury strategy and policy that best serves the Foundation's investment objectives and operational needs

• Provides insight into interest rate outlook and capital market trends, proactively communicating implications for the Foundation's strategy

• Collaborates with other law foundations to share learnings and best practices, and maintain a sound understanding of the investment landscape across Canada

Governance and Reporting

• Maintains and executes a strong investments governance framework to ensure the responsible management of the Foundation's investments in accordance with professional standards and fiduciary obligations

• Maintains the Foundation's reputation by supporting a positive, inclusive, and reciprocal culture, both internally and in relationships with investment managers and advisors

• Organizes the Investments Subcommittee meetings, including preparing the agendas and owning responsibility for reporting to committee members

• Prepares clear, decision-focused performance and compliance reporting for the Investments Subcommittee

• Works closely and collaboratively with other members of the Finance team to develop, maintain, and present financial reporting related to investments

• Delivers presentations regarding the Foundation's investments to the Board, Finance and Operations Committee, Investments Subcommittee, and Senior Leadership Team as applicable

Performance and Compliance

• In collaboration with the external Investment Advisor:

• Oversees total portfolio performance across all asset classes

• Holds primary responsibility for oversight of investment managers

• Establishes and monitors portfolio risk and performance metrics

• Gathers, assesses the completeness of, and analyzes all periodic reporting from investment managers

• Assesses the performance of investment managers, both in terms of risk/return and regarding responsible investing objectives, ensuring performance meets or exceeds investment objectives over the long term

• Ensures compliance with all applicable legal, regulatory, professional and fiduciary standards

• Monitors manager activity for adherence to guidelines, constraints, contract terms, investment philosophy and stated risk tolerance

• Solicits feedback from the Investments Subcommittee in the assessment of investment performance and making decisions in response to performance findings

• Leads investment manager selection, onboarding, and termination processes

• Conducts due diligence and review, and makes recommendations regarding investment manager selection

• Analyzes investment management fees and negotiates rates and fee structures with investment managers

• Assists Finance team members with gathering information for periodic accounting transactions, investment reconciliations, and audit documentation

Leadership and Management

• In partnership with the Director of Finance, Director of Communications, and Manager of Trust Accounting, maintains excellent working relationships with investment managers and other financial institution contacts, including through regular in-person meetings and attendance at events

• Maintains a close working relationship with the Foundation's investment advisors to ensure sound oversight of the Foundation's investments

• Collaborates closely with the Director of Finance, Controller, and/or Manager of Trust Accounting on cross-functional strategy, policy and procedure, including the management of financial institution relationships

• Works closely with other members of the Finance team to ensure the efficient and effective operation of investment-related transactions, including funding and withdrawal transfers

• Stays current on industry practices, innovative investment ideas, investment managers and consultants

• Maintains the Foundation's status as a respected member of the investment community and one of the leading Foundations in BC

ABOUT YOU

The Managing Director, Investments must have a combination of the following (or equivalent) education and experience:

• Senior leadership experience in directing complex decisions related to large ($200M+) multi-asset class portfolios

• 10+ years of institutional investment experience, ideally in endowment/foundation models, pension funds, and/or asset management

• CFA or equivalent experience and education

• Strong understanding of portfolio construction, risk management frameworks, and private and public markets

• Strong understanding of responsible investing principles and how investment professionals measure, manage and integrate ESG and other responsible investing factors within their strategy and processes

• Familiarity with the impact-investment landscape in Canada

• Experience overseeing both the strategic and operational aspects of managing one or more investment portfolios

• Experience with progressive management and leadership at a senior organizational level

• Experience collaborating with external service providers, including custodians, consultants and investment managers

• Strong quantitative analysis skills

• Strong understanding of investment-related risk management

• Experience working with Boards and Investment Committees

The Managing Director, Investments would benefit from the following skills, abilities and attributes:

• Strong commitment to the Law Foundation's vision, mission, and values

• Advances the Foundation's anti-racist, intersectional mission for justice, equity, diversity and inclusion

• Demonstrates intercultural competency, cultural humility, and experience affirming rights of marginalized groups (e.g., Indigenous peoples, 2SLGBTQIA+, persons with disabilities, ethnic/religious/linguistic minorities, and/or women and children).

• Demonstrates good judgment and strong ethics

• Strong team leadership and networking capabilities

• Advanced MS Excel skills and the ability to calculate rates of return and generate portfolio analytics, including performance and risk/return statistics

• Excellent written and oral communication skills, especially the ability to explain one's views clearly

• Highly capable of collaboratively developing and executing on strategy with other senior leaders

• Independent; willing and able to challenge external investment managers and internal assumptions

• Excellent and sensitive interpersonal skills, including an ability to listen to others and learn from their best ideas, share best practices and experiences, and contribute to a learning environment

• Commitment to creating and reinforcing a transparent, accountable, mutually respectful collaborative work environment

• Ability to manage own workload, recognizing both the reality of external events beyond our control and the Foundations' desire and commitment to