Director of Investments

Director of Investments

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


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Special Instructions
The University of Utah has engaged with Korn Ferry to conduct this search. You can view the entire profile at: https://www.linkedin.com/jobs/view/3968075968/?capColoOverride=true

Please reach out with inquiries to:
Michael Kennedy
Senior Client Partner - Asset Management
M. 404.307.6853
E. Michael.Kennedy@kornferry.com

Jim Flaherty
Senior Associate - Asset Management
M. 508.404.0407
E. Jim.Flaherty@kornferry.com

Suzanne Regan
Project Coordinator
M. 404.764.9968
E. Suzanne.Regan@kornferry.com

Requisition Number: PRN39280B
Full Time or Part Time? Full Time
Work Schedule Summary:
Department: 00345 - Assoc VP, Chief Invest Officer
Location: Campus
Pay Rate Range: Commensurate with Experience
Close Date: 10/18/2024
Open Until Filled: No

To apply, visit https://utah.peopleadmin.com/postings/168106


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