Monitor and research existing and prospective external money managers who are hired to invest portions of the Institution’s diversified endowment portfolio. Contribute to the investment research and decision-making process. Share in portfolio reporting and operational oversight responsibilities with other team members. Travel 10-20%.
Bachelor’s degree and CFA designation are required; MBA and/or other specific experience in security valuation a plus. Minimum five years experience related to investment management is required. Specific experience with bottom-up portfolio evaluation, top-down quantitative performance analysis, and a broad universe of investment managers are desirable.
Detail minded with excellent analytical and quantitative skills. Excellent written and oral communication skills. Ability to represent the institution appropriately with outside investment and financial management personnel. Proficiency in Microsoft Office Suite. Familiarity with databases is helpful. Familiarity with FactSet, Bloomberg or any investment research programs is preferred. Familiarity with accounting is also preferred.
PRINCIPAL DUTIES AND RESPONSIBILITIES
10% Investment Office Operations
30% Prospective Manager Due-Diligence
- Share in maintaining the weekly update of the current portfolio asset value and allocation, including reconciling cash with the custodian bank. Oversee cash flows for capital calls, distributions and withdrawals.
- Receive and process stock gifts.
- Prepare the quarterly unitization and annual draw calculations.
- Arrange for investment office expenses to be reimbursed to the operating budget.
- Respond to requests for information from the Controller’s Office and other groups within and outside the institution. Support the Institution’s annual audit.
30% Existing Manager Monitoring
- Contribute to and/or generate new manager ideas. This involves developing and maintaining relationships with peers and marketers; monitoring the public email in-box and responding appropriately; reviewing presentation materials and/or PPMs and otherwise screening prospective managers for further research.
- Conduct further due diligence (analyze organization, portfolio and past record; plan, conduct and assess results of meetings) in collaboration with other team members.
- Define appropriate benchmarks and peer universes. Compare and contrast managers’ organizations and investment strategies, including strengths and weaknesses.
- Contribute to, draft, and/or write new manager recommendation memos.
15% General Market Research
- Maintain notes and update data records regarding the investment and operational activities of the existing external money managers.
- Attend and/or conduct due diligence meetings in person or via phone, including off-site annual conferences. In coordination with colleagues, prepare questions and objectives in advance. Record factual notes and/or write up qualitative assessments after.
- Contribute to, draft, and/or write formal manager evaluation memos.
10% Investment Committee Support
- Monitor and maintain regular data sets and graphs. Redevelop monitoring processes to optimize useful information flow.
- In collaboration with colleagues, discover, define and evaluate new investment opportunities and their usefulness to the portfolio. Compare and contrast investment opportunities. Contribute to, draft, and/or write memos to explain and justify recommendations to add new strategies to the portfolio.
- Oversee preparation of quarterly performance report by the outside consultant.
- Prepare quantitative reports about the portfolio and qualitative memos for the Investment Committee.
- Attend Committee meetings. Record notes and/or draft and/or write minutes after.
Only applicants meeting minimum qualifications for the position will be considered. Successful completion of a background investigation is required for employment in this position. No phone calls please. Brookings welcomes resumes from all qualified applicants, particularly women and minorities.
- Performs any and all other duties and responsibilities of a similar nature and character to those above, which may be assigned and directed.
- Provides backup in the absence of the CIO and/or the other investment analyst as needed.
The Brookings Institution - 23 months ago
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