Investment Director
3 weeks ago
University of Minnesota Foundation Investment Advisors (UMFIA) is seeking an Investment Director to
join its team of 11 investment and operations professionals. The position will lead the research and
implementation of UMFIA’s quantitative and systematic strategies, primarily through the use of
derivative instruments. The Investment Director will contribute to the success of the investment office
by enhancing existing strategies and developing new investments that further UMFIA’s unique approach
to portfolio construction.
University of Minnesota Foundation Investment Advisors (UMFIA), is an independent nonprofit
subsidiary of the nonprofit University of Minnesota Foundation (UMF). UMF is a key partner with the
University of Minnesota in building and sustaining excellence among students and faculty and fueling
discovery in important areas on all University-wide campuses. UMFIA was formed in 1998 to provide
dedicated professional management of UMF’s investments, and it manages the endowment across a
broad range of asset types. UMFIA aims to achieve an appropriate risk-adjusted return on client assets
by linking intelligent asset allocation with skillful investment implementation. UMFIA utilizes a wide
variety of securities and partnerships in the execution of its investment strategy.
Position Summary:
The endowment’s investment policy uses derivatives strategically to mitigate risks imposed by its
investment mandate and to enable UMFIA’s pursuit of investments with exceptional risk adjusted
return. The Director will be responsible for UMFIA’s quantitative research and trading of derivatives.
The position will work closely with the Chief Investment Officer (CIO) and the investment team to
develop and identify strategies for analysis. Existing approaches must be tested for fitness and new
opportunities require exploration.
UMFIA uses both external managers and internally implemented strategies, and this position will lead
the analysis and sourcing of external managers that employ derivatives and systematic strategies. The
Director will also negotiate, structure and monitor relevant third-party relationships, with the assistance
of the Operations Team. The Director will be the primary trader for UMFIA’s internal or systematic
trading of listed/flex/OTC options, futures, and swaps.
The Director will have primary responsibility for identifying, managing, and investigating new datasets
that support their analyses. Systems will need to be acquired, or developed, that allow the Director and
the Investment Team to assess the risk and performance of strategies. The Director will also have the
opportunity to further the theoretical framework that underpins the endowment’s investment strategy.
Primary Duties and Responsibilities:
Conduct rigorous analyses of a broad spectrum of systematic investment strategies, with an
emphasis on options strategies
Conceptualize investment strategies and convey the economic intuition
Develop new investment strategies and improvements to existing strategies
Source and structure third party relationships
Serve as the lead derivatives trader
Contribute as a member of both the investment team that reviews all portfolio investment
decisions & the systematic portfolio management team
Job Posting – Investment Director
Identify & manage datasets
Build or acquire analytical and back-testing software
Collaborate with the UMFIA Operations Team
Provide high level summaries to non-Investment stakeholders
Minimum Qualifications:
Bachelor’s degree in a quantitative field of study
Minimum of 10 years of relevant work experience in options trading, pricing, or portfolio
management
Strong programming, quantitative, analytical skills
An ability to intuit the economic rationale of a quantitative investment strategy
A successful candidate will have the following traits:
Extensive investment experience & familiarity with institutional investing
An innate curiosity for investments & systematic strategies
A willingness to contribute to the success of our work regardless of the task, and the rank or role
of those involved. We are a small team with a flat hierarchy.
The flexibility to collaborate and include input from the team, while progressing work in an
independent fashion
An ability to convey concepts to individuals and audiences with a wide variety of expertise
Please note: Applicants must be presently legally authorized to work in the United States for any US
employer; this position is not eligible for employment-based visa sponsorship or relocation.
Compensation:
A competitive base salary and annual incentive award are commensurate with experience and earnings
history. UMFIA provides a strong benefits package.
Working Conditions:
This is a typical office environment in which employees use office equipment like personal computers,
fax machines, copiers, telephones; stand or sit at a desk for long periods of time (2-3) hours; may need
to lift and move documents and supplies (not to exceed 25 lbs.); and bend to file or retrieve documents.
Our organization follows a hybrid work structure where employees can work remotely or from the
office, as needed, based on demands of specific tasks or personal work preferences. Working from the
office is encouraged during the onboarding process and when working on tasks that require a high
degree of collaboration.
To apply:
Send resume and cover letter to: charlotte@umfia.org. The deadline to submit resume is December 13,
2024.
The University of Minnesota Foundation Investment Advisors is an equal opportunity employer without
regard to race, color, creed, religion, national origin, gender, age, marital status, disability, public
assistance status, veteran status, sexual orientation, gender identity, or gender expression. Indigenous,
people of color, people with disabilities, LGBTQIA+, gender nonconforming and members of other
historically underrepresented communities are highly encouraged to apply.
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