Director of Investments

1 month ago

Salt Lake, Utah, United States University of Utah Full time
University of Utah Director of Investments Salt Lake City , Utah Apply Now

Job Title Director, Accounting & Finance

Working Title Director of Investments

Job Grade H

FLSA Code Executive

Patient Sensitive Job Code? No

Full Time or Part Time? Full Time

Shift Day

Work Schedule Summary

VP Area President

Department Assoc VP, Chief Invest Officer

Location Campus

City Salt Lake City, UT

Type of Recruitment External Posting

Pay Rate Range Commensurate with Experience

Close Date 10/18/2024

Open Until Filled No

Job Summary

The University of Utah is working on an agreement with a separate non-profit group called University of Utah Growth Capital Partners ( UUGCP ) to manage its endowment funds as well as funds that may come in through UUGCP . It has yet to be determined how that might look like. UUGCP is in the process of selecting an outsourced chief investment office ( OCIO ) to manage the endowment assets. The University needs to strengthen its team at this time and thus is looking to add additional position to its team to help manage this relationship.

The University endowment is approximately $1.6B in assets under management – across fixed income, global equity, venture capital, private equity, private credit, private real assets, and diversifying strategies. UUGCP has its own investment committee which provides oversight to the OCIO . The University expects to maintain its own advisory committee which will work in conjunction with the OCIO and the UUGCP advisory committee

The University of Utah is seeking to recruit a Director of Investments to oversee the management and performance of the University of Utah's endowment investments. This individual will act as a liaison between the University, the University of Utah Growth Capital Partners ( DSO ), and the Outsourced Chief Investment Officer ( OCIO ), and ensure the endowment supports the university's long-term financial goals and strategic priorities. This position will report into the Associate Vice President, Debt & Asset Management (Treasury), Robert Muir.

Previously, the investment organization was led by a Chief Investment Officer and an investment team of three professionals. Due to the small staff, the team utilized two consultants who provided additional resources. The investment office reported to an Investment Advisory Committee consisting of 7-8 individuals primarily from the Salt Lake City area.

Responsibilities

The Director of Investments will be responsible for the following responsibilities:

Investment Advisory Committee ( IAC ) Management:

Organize quarterly IAC meetings.

Develop agendas, prepare meeting materials, and ensure effective communication among committee members.

Audit Preparation and Compliance:

Prepare comprehensive documentation for internal and external audits.

Focus on the annual investment audit and ensure all necessary schedules and reports are accurate and complete.

Regulatory Reporting:

Provide detailed and accurate investment information to the Utah Board of Higher Education as required.

Ensure compliance with state regulations and reporting standards.

Financial Analysis and Reporting:

Conduct monthly financial analysis of the endowment pool to monitor and report on financial performance.

Provide insights and recommendations based on analytical findings.

Operational and Compliance Oversight:

Engage in regular operational discussions with the OCIO .

Monitor compliance with the University's Memorandum of Understanding ( MOU ) and other contractual obligations.

Strategic Coordination with DSO :

Work with the University of Utah Growth Capital Partners to develop and implement investment strategies and priorities.

Align strategic and tactical asset allocation decisions with state parameters and university objectives.

Endowment Payout Management:

Ensure endowment payouts align with the needs and priorities of the University of Utah.

Coordinate with various stakeholders to optimize the utilization of endowment funds.

Minimum Qualifications

Preferences

Special Instructions Summary

The University of Utah has engaged with Korn Ferry to conduct this search. You can view the entire profile at:

Please reach out with inquiries to:

Senior Client Partner – Asset Management

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Senior Associate – Asset Management

M

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Additional Information

The University is a participating employer with Utah Retirement Systems ("URS"). Eligible new hires with prior URS service, may elect to enroll in URS if they make the election before they become eligible for retirement (usually the first day of work). Contact Human Resources at for information. Individuals who previously retired and are receiving monthly retirement benefits from URS are subject to URS' post-retirement rules and restrictions. Please contact Utah Retirement Systems at or or University Human Resource Management at if you have questions regarding the post-retirement rules.

This position may require the successful completion of a criminal background check and/or drug screen.

The University of Utah values candidates who have experience working in settings with students and patients from all backgrounds and possess a strong commitment to improving access to higher education and quality healthcare for historically underrepresented students and patients.

All qualified individuals are strongly encouraged to apply. Veterans' preference is extended to qualified applicants, upon request and consistent with University policy and Utah state law. Upon request, reasonable accommodations in the application process will be provided to individuals with disabilities.

The University of Utah is an Affirmative Action/Equal Opportunity employer and does not discriminate based upon race, ethnicity, color, religion, national origin, age, disability, sex, sexual orientation, gender, gender identity, gender expression, pregnancy, pregnancy-related conditions, genetic information, or protected veteran's status. The University does not discriminate on the basis of sex in the education program or activity that it operates, as required by Title IX and 34 CFR part 106. The requirement not to discriminate in education programs or activities extends to admission and employment. Inquiries about the application of Title IX and its regulations may be referred to the Title IX Coordinator, to the Department of Education, Office for Civil Rights, or both.

To request a reasonable accommodation for a disability or if you or someone you know has experienced discrimination or sexual misconduct including sexual harassment, you may contact the Director/Title IX Coordinator in the Office of Equal Opportunity and Affirmative Action ( OEO /AA). More information, including the Director/Title IX Coordinator's office address, electronic mail address, and telephone number can be located at:

Online reports may be submitted at

This report includes statistics about criminal offenses, hate crimes, arrests and referrals for disciplinary action, and Violence Against Women Act offenses. They also provide information about safety and security-related services offered by the University of Utah. A paper copy can be obtained by request at the Department of Public Safety located at 1658 East 500 South.

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