Job Description

The Position

The Managing Director - Public Investments supports the investment activities of the University's Endowment and the private fund through which unaffiliated endowments and foundations invest. The combined assets under management are valued in excess of $6 billion and are highly diversified to include both traditional and alternative strategies.

The Managing Director - Public Investments is a senior member of the investment team and will report to the Chief Investment Officer and work closely with other senior members of the group. The position will head the day-to-day implementation of the investment strategies and policy for the public portfolio, approximately 55% of the entire portfolio, to ensure that the invested assets achieve the desired strategic return and risk objectives. While working closely with the other senior team member to manage this portion of the portfolio, the Managing Director - Public Investments' primary focus will be on sourcing, evaluating, and selecting best-in-class external managers across public equity, absolute return, and fixed income strategies, as well as monitoring portfolio positioning, performance, and exposures. The position may also participate, where relevant, in evaluating opportunistic investments in collaboration with senior team members; however, this is not expected to be a primary responsibility.

The Managing Director - Public Investments will also contribute to the team on matters of portfolio construction and asset allocation. The position will participate in client service presentations and serve as an investment liaison for the unaffiliated endowment and foundation investors. This includes speaking to external Board and Investment Committees about various asset classes. Team development and mentorship is an important part of this role and it is expected that this position will supervise a Director focused on public investments.

Responsibilities

The Managing Director - Public Investments is expected to build and maintain relationships with underlying investment managers, regularly monitor portfolio holdings, research new investment opportunities and report to various stakeholders of their relevant asset classes.

Portfolio Management

Public Portfolio Leadership (Public Equity, Absolute Return, Fixed Income)

• Ongoing review and analysis of current managers, through reviewing communication from managers and regular meetings and calls
• Perform risk analytics on the public portfolios to assess exposures across geographies, industries, factors, leverage, and single name companies.
• Maintain relationships with best-in-class potential managers
• Conduct thorough due diligence on the most compelling prospective opportunities including analysis of investment strategy, process, organization, realized and unrealized portfolio positions, and performance
• Remain current on new managers and developing trends by attending conferences, annual meetings and building and maintaining a well-developed network of contacts within the investment community
• Source and maintain a pipeline of investment opportunities that will provide a strategic advantage to Spider's investment portfolio
• Review legal documents

Total Portfolio

• Collaborate with the CIO and other team members on asset allocation decisions and share investment knowledge as well as economic and market information gained from regular interaction with managers
• Articulate and defend opinions backed by rigorous analysis through both oral and written communication
• Research new areas of interest, asset classes, and sectors
• Participate actively in asset allocation discussions by developing models and documentation when strategic shifts in asset allocation policy and/or tactical changes within an asset class are recommended

Stakeholder Management

• Attend annual meetings and advisory board meetings as needed
• Represent Spider with a range of constituents, including the University of Richmond Investment Committee and external partners
• Prepare investment memos recommending changes to the portfolio
• Work closely with the Investor Relations team to help inform portfolio reporting and communication with Spider's external clients
• Assist in building the team's reputation for professional excellence and credibility both inside the organization and throughout the investment management community

Team Development

• Actively involved with Senior Management in the selection process of potential additions to the Spider team
• Act as a team player; holding others accountable, providing clarity, encouragement and feedback, as well as being receptive to feedback and making modifications to one's approach and behaviors, as needed

Professional Experience / Qualifications

The successful candidate will have the following qualifications:

Knowledge, Skills & Ability:

• Strong investment track record through complete market cycle(s)
• Demonstrated track record of sourcing and investing in public markets managers
• Ability to leverage critical thinking, independent judgement and experience to constructively contribute to investment decisions across the portfolio
• Sincere interest in investing, combined with a high level of curiosity and motivation to achieve success
• Clear investment philosophy, with the ability to remain intellectually open to new ideas and approaches
• Ability to incorporate rigorous qualitative and quantitative analyses in the evaluation of investment strategies, human and organizational dynamics, investment processes, and investment performance
• Strong understanding of capital market dynamics, risk, and complex investment strategies
• Established network of investment contacts and GP relationships; ability to access independent network for manager evaluation and reference checking purposes
• High "EQ" and ability to work effectively with multiple constituencies
• Strong communication skills and the ability to present perspectives and recommendations, both verbally and in writing, in a clear and logical manner
• Team-oriented and willing to roll up his/her sleeves to contribute to the group's common objectives
• Independent thinking
• Self-motivated and directed, possessing an ability to motivate others
• Ability to portray Spider as a desired investor to top-tier investment managers
• The highest level of integrity, honesty, and sense of fiduciary duty
• CFA/MBA or equivalent graduate degree expected

Exceptional personal qualities including:

• Unquestioned integrity and the highest ethical standards
• Imagination and creativity
• A team orientation and collegial style
• Foresight and pragmatism
• A commitment to a culture of excellence and client service
• Outstanding communication skills
• Entrepreneurial nature

Education

• Master's degree with concentration in Finance/Business Administration or in a quantitative discipline preferred
• CFA preferred
• 10-15 years relevant work experience in the investment industry preferred.