What are the responsibilities of a Director of Investments inside an endowment?
Ongoing development of the portfolio, including the contribution to the investment process at [two] levels: high-level asset allocation and risk management
Analysis of particular investment strategies, sectors and geographies, and implementation of investment strategies, primarily through the evaluation of, and ongoing monitoring of, external managers
Establish an approach to various parts of the portfolio through well reasoned and articulated views and preferences regarding the viability of various strategies as well as consideration of the endowment’s overall asset allocation
Keep abreast of market conditions for various strategies
Develop a regular program of sourcing and meeting managers for possible inclusion in the portfolio
Manage an efficient and comprehensive process for evaluating managers and for recording due-diligence material for current and future use
Monitor managers on an ongoing basis through dialogue, research, and review of investment reports
Develop best practices regarding the appropriate approach to monitoring managers on an individual basis and on other bases (including style, sector, correlations, etc.)
Work with the Operations team to ensure robust and appropriate performance measurement, cash movement, and information receipt with regards to each manager and the private investment portfolio in total
Develop and utilize a solid network, including other investors and consultants
Broader investment management and risk management, including working with colleagues in order to contribute to the overall asset allocation and risk allocation process through fluid understanding of the broader portfolio and rigorous risk allocation analysis
Work with colleagues in order to contribute to the development of a well constructed investment process for ideas with regard to the entire portfolio
Work with colleagues and with the Chief Operating Officer in particular to develop appropriate risk-management metrics and procedures for the entire portfolio
Other duties and special projects as assigned
There are other senior roles open if you have a technical or operational background.
Before you apply, you should familiarize yourself with the endowment’s most recent annual returns.
Columbia’s current return rate remains 3.2 percent smaller than the 12.2 percent average of the other seven Ivy League schools, placing it behind Harvard’s 10.0 percent and Cornell’s 10.6.
However, Columbia posted an 8 percent trailing ten-year returns, the average annual returns for the past ten years, the highest among its peers.
Columbia endowment reports 9.0 percent return, growing to $10.9 billion, Columbia Daily Spectator
In the end, long-term returns is what matters most.
Photo by Bitterteayen on Wikimedia Commons
Post by Marcelino Pantoja