Director, Investment Strategy
About City of Hope
City of Hope, an innovative biomedical research, treatment and educational institution with over 5,000 employees, is dedicated to the prevention and cure of cancer and other life-threatening diseases and guided by a compassionate, patient-centered philosophy.
Founded in 1913 and headquartered in Duarte, California, City of Hope is a remarkable non-profit institution, where compassion and advanced care go hand-in-hand with excellence in clinical and scientific research. City of Hope is a National Cancer Institute designated Comprehensive Cancer Center and a founding member of the National Comprehensive Cancer Network, an alliance of the nationâ€™s 20 leading cancer centers that develops and institutes standards of care for cancer treatment.
This position is responsible for the development, implementation, and monitoring of investment strategies and processes to ensure that asset allocation and investment performance are appropriate and consistent with the investment policies of City of Hope. The Director will have an understanding of risk limits, liquidity requirements, and portfolio policies to monitor and identify investment opportunities across all existing and new asset classes that comprise the investment portfolios, including fixed income, equities and alternative investment strategies. The Director plays an integral role in balancing the investment objectives with the risk appetite and constraints acceptable to the enterprise.
The Director will work closely with the Senior Manager, Cash and Investment Operations, as well as all support groups, including Legal and Accounting. The Director will also interface directly with Board and its Committees.
- Establish long-term asset allocation framework and develop Investment Policy Statement. Design specific execution strategies and implementation plans for investment policy and objectives established for the City of Hope investment portfolios, including recommendations for changes in asset allocation, managers and fund selection to maximize return given investment parameters and criteria (risk, liquidity, time horizon, spending needs, etc.)
- Serve as the primary interface with external investment consultants and fund managers, actively managing the relationship and monitoring their performance to maintain alignment with City of Hopeâ€™s policies and directives.
- Pursuant to City of Hope established policies and objectives, work with external consultants to seek out and review new investment opportunities at the asset class and fund level. Evaluate and synthesize quantitative and qualitative data into crisp and thoughtful investment recommendations to Management and the Investment Committee, including approval or denial of investment recommendations made by external consultants.
- Monitor private investments program, including unfunded commitments and cash flow projections.
- Work directly with Board and its Committees. Prepare and present materials for Investment Committee meetings, including quarterly updates of enterprise cash and investments, evaluation of new managers and other investment topics of interest.
- Monitor existing portfolio of global equities, fixed income and alternative investments to review and identify performance and operational issues. Qualitatively and quantitatively analyze risk at both the portfolio and fund manager level. Review each fund manager to understand the investmentsâ€™ risk/return mix and evaluate risk-adjusted, absolute performance against benchmarks.
- Develop and formalize due diligence, monitoring and benchmarking processes.
- Stay abreast of trends in institutional investment markets, including maintaining relationships with fund managers, thought-leaders, and other LPs.
- Follow global macro-economic trends and equity and fixed income markets. Monitor economic reports and market trends and integrate with City of Hopeâ€™s investment strategies.
- Negotiate and evaluate documentation for new managers, including but not limited to Subscription Documents, Limited Partnership Agreements, Fee Agreements and Offering Memorandums. Work with the Legal department to review and negotiate investment terms and conditions.
- Work with the Legal Department and fund managers to ascertain if updates to fund documents are material through conference calls and correspondences. Follow up with fund managers as necessary.
- Partner with Manager, Cash and Investment Operations, Accounting and Auditors as necessary to provide support for investment portfolio related questions, including valuation related questions.
- Review investment reports and communications, including quarterly and annual reports, legal documents, investor letters, portfolio statistics, and correspondences.
- Provide technical expertise on all matters related to investments.
- Additional projects as required by VP, Treasury & Financial Strategy.
- ManageInvestment Analyst.
The following Pillars in Action are the behaviors that accelerate our impact as we deliver on our Vision and Strategic Priorities:
SPEED. We move with speed.
- We execute with a sense of urgency.
- We learn quickly and adjust course.
- We take ownership and eliminate bottlenecks and barriers.
FOCUS. We act with discipline and focus.
- We own City of Hopeâ€™s enterprise priorities.
- We deliver measurable results.
- We explore ideas broadly, and commit to ideas selectively.
ENTERPRISE. We behave as one enterprise.
- We work together, not in silos.
- We stand by each other and our decisions.
- We encourage innovative thinking and embrace responsible risk taking.
CONNECTEDNESS. We connect and network.
- We attract and collaborate with diverse talent.
- We connect and extend our relationships.
- We welcome and embrace external partners.
SPONSORSHIP. We trust and sponsor.
- We value and inspire each other.
- We extend trust.
- We sponsor each otherâ€™s success.
- Bachelors Degree and Advanced Finance coursework. MBA,CFA and/orCPApreferred.
- 10+ years institutional investment portfolio management experience in a corporate environment.
- Institutional investment management experience, Healthcare Treasury experience, Hospital financial operations experience preferred.
- Strong presentation skills, as well as strong written and verbal communication
- Advanced spreadsheet and modeling skills.
- General knowledge of GAAP and SEC reporting requirements for investments and other financial instruments.
- Excel , PowerPoint, Word, familiarity with Database software
City of Hope is committed to creating a diverse environment and is proud to be an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, religion, color, national origin, sex, sexual orientation, gender identity, age, status as a protected veteran, or status as a qualified individual with disability.
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