Chief Investment Officer Blog Post

1 month ago

Chicago, United States Allocator Jobs Full time

The John D. and Catherine T. MacArthur Foundation supports creative people, effective institutions, and influential networks building a more just, verdant, and peaceful world. MacArthur is placing a few big bets that truly significant progress is possible on some of the world’s most pressing social challenges, including over-incarceration, global climate change, nuclear risk, and significantly increasing financial capital for the social sector. In addition to the MacArthur Fellows Program, the Foundation continues its historic commitments to the role of journalism in a responsible and responsive democracy, as well as the strength and vitality of our headquarters city, Chicago. $8.5 billion AUM. Details below.

The Vice President and Chief Investment Officer (VP/CIO) is responsible for overseeing the management of the Foundation’s $8.7B investment portfolio through the leadership of the Investment Department’s 17-person investment team. The incoming leader will embody the core values of the Foundation and promote those values through their work.

A primary responsibility of the VP/CIO is to develop and recommend an overarching investment policy, asset allocation, and strategy to the Investment Committee for approval. Once approved, the VP/CIO oversees the implementation, modifications, and ongoing management of the strategy, primarily through the selection and oversight of external investment managers. Additionally, the VP/CIO ensures the integration of ESG (Environmental, Social, and Governance) principles and manager diversity within the portfolio. The VP/CIO maintains regular engagement with the Investment Committee and ensures the timely and accurate reporting of investment performance to both the Committee and the Board.

As a senior officer, the VP/CIO reports to the President and collaborates closely with other senior officers of the Foundation including the investment committee. The VP/CIO may also engage in ad-hoc responsibilities as engaged and defined by the President.

Job Description

TO APPLY

Heidrick & Struggles has been exclusively retained for this engagement. To express interest in this role please submit your materials via email to macarthurfoundation@heidrick.com Subject: MacArthur Foundation.

As the Chief Investment Officer of the MacArthur Foundation, this leader will also maintain accountability for the following essential duties and responsibilities:

  • Direct the oversight of investment and management of the Foundation’s assets
  • Formulate and recommend to the investment committee an overall investment strategy and long-term investment portfolio for the investment, management and allocation of the Foundation’s assets.
  • Evaluate and screen potential external investment managers and recommend qualified managers for retention and approval
  • Oversee internal controls and conduct regular risk assessments of investment activities, implementing changes as necessary to mitigate risks
  • Conduct ad-hoc analyses as requested by the President, Investment Committee, or other stakeholders
  • Stay informed on investment trends, regulatory developments, and potential risks to proactively address emerging issues
  • Lead and develop the investment team, ensuring alignment with department objectives and fostering a high-performance and mission-aligned culture
  • Direct the maintenance of the Foundation’s financial records and principal financial accounts, ensuring accuracy and compliance with applicable standards

The Chief Investment Officer will be a proven leader with the ability to influence stakeholder groups in the strategic positioning of an investment portfolio intended to meet organizational objectives. This individual will leverage a combination of communication and analytical skills, together with a technical grounding in modern portfolio theory to direct a scaled cross-asset class investment capability on behalf of the Foundation. A deep appreciation of risk and reward implications involved in making investments in each strategy is required. Other essential qualifications include:

  • 15 years’ experience in investing and other related fields including at least 10 years of deep leadership, supervisory, and management experience
  • Demonstrated track record of producing strong, risk-adjusted returns and managing large portfolios with the ability to align the endowment with the MacArthur Foundation mission
  • Unquestioned ethics and integrity; this person will be well respected within the investment community, not only for his/her technical skills, but also for his/her credibility and high standards of professional conduct
  • Proven leadership skills with an ability to inspire staff while dealing with multiple constituencies; must be committed to a collaborative process, while exhibiting determination to drive an agenda needed to attain high performance. Must believe in and practice accountability, candor, creativity, participative decision-making, and employee empowerment
  • Exceptional interpersonal, written and verbal communication skills; with the confidence and maturity to articulate complex investment issues to an audience with varying levels of investment expertise
  • Excellent diplomatic, meeting facilitation, negotiation, and conflict resolution skills
  • A technical understanding of derivatives and overlay strategies, including their role in managing risk, enhancing portfolio returns, and optimizing asset allocation
  • Master’s degree, CFA or other advanced degrees in a relevant field strongly preferred

Annual salary for this role will start at $750,000 plus incentive bonus eligibility.

The position is hybrid and based in Chicago, Illinois.

Physical Requirements and Work Environment

The work environment is an office setting. Intermittent physical activities will include bending, reaching, sitting, and moving around the office during working hours. Reasonable accommodations may be made to enable a person with physical disabilities to perform the job.

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