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Reports to: Douglas Terp, Vice President for Administration & Treasurer
Oversees: Pam Leo, Assistant Director of Investments
Investment Analyst (to be hired)
Other key relationships: William D. Adams, President
Scott Jones, Assistant Vice President for Financial Planning
Ruben Rivera, Controller
Investment Committee of the Board of Trustees:
William Oates ’65 (Chair), Founding Partner, Northeast Investment Management
Harry Krensky ’85 (Vice Chair), Founder and Managing Partner, Discovery Americas Capital Partners
William Alfond ’72, Former Vice President, Dexter Shoe Company and Part Owner, Boston Red Sox
Leslie Biddle ‘89, Retired Partner, Goldman Sachs & Co.
Robert Diamond ’73, Chief Executive, Barclays PLC
William Goldfarb ’68, Principal, HRW Resources
Michael Gordon ’66, Co-Founder and Chief Operating Officer, Angelo Gordon & Co.
Todd Halloran ’84, Partner, Freeman Spogli & Co.
Seth Lawry, Managing Director, Thomas H. Lee Partners
Paula Crane Lunder, Community Leader
William Montgoris, Retired Chief Operating Officer, Bear Stearns, Inc.
David Pulver ’63, President, Cornerstone Capital Inc.
Dilan Siritunga ’92, Managing Director, Atlas Capital
Paul Spillane ’79, Business Development Executive, Terra Firma
Max Senter, Consultant, Cambridge Associates
· Provide leadership, expertise, and coordination of investment policy development, portfolio management, manager evaluation, and reporting.
· Manage a $580 million investment portfolio (12/31/2011 estimate) that currently includes a large alternative investment component and more than 70 managers, 90 investment products, and 150 investment vehicles.
· Establish, review, recommend, and modify strategic asset allocation and tactical adjustments to the portfolio.
· Lead analyses of investment objectives, asset allocation, investment performance, and ethical investment policy. Monitor and evaluate portfolio objectives, risk parameters, performance benchmarks and asset allocation.
· Lead evaluation of existing and potential new investment managers for all asset classes through manager meetings, portfolio analysis, and reference checks. Recommend addition and/or elimination of manager relationships.
· Manage approval and diligence process for investment managers, including regular performance analysis and reporting.
· Coordinate work of Investment Committee and subcommittees (Marketable Securities, Private Equity, Real Estate, Hedge Funds, and Cash).
· Lead preparation and presentation of analyses, reports, and recommendations to the administration, the subcommittees, and the Investment Committee.
· Oversee custodial relationships, preparation of investment transaction entries, and regular reconciliations of all investment related accounts.
· Monitor and recommend asset allocation and manager selection for Pooled Income Funds and Charitable Remainder Trusts.
· Manage institutional working capital – endowment, operating, plant, and other – to meet ongoing liquidity needs.
· Manage banking relationships, working closely with Financial Planning and Financial Services.
· Create and maintain sophisticated analytical models to support endowment management.
· Oversee preparation of endowment audit workpapers.
· Recruit, develop, motivate, and manage professional staff and oversee investment office operations.
· Create a positive, collaborative climate for the office and develop a culture of excellence, continuous improvement, and continuous learning.
· Collaborate with other administrative staff in cross-functional analyses, projects, and processes.
CANDIDATE SPECIFICATION: KEY SELECTION CRITERIA
· At least 10 years of relevant experience at an endowment, foundation, plan sponsor, family office, investment management company or consulting firm.
· Strong investment track record.
· Experience with equity-oriented investmentsand with alternative investment vehicles in particular.
· Experience working within an environment of sophisticated colleagues and high standards for performance.
· B.A./B.S. in a relevant field. M.B.A. or M.S. and C.F.A. are strongly desired.
Critical Competencies for Success
· Asset allocation/manager selection: The CIO will make well supported recommendations on asset allocation policy, portfolio construction and on the selection of outside managers by employing outstanding analytical skills, market prowess, knowledge of various asset classes, and familiarity with different asset management firms. In doing so, he/she will demonstrate the ability to analyze risk and develop investment opportunities consistent with the College’s risk profile and long-term investment horizon.
· Communication/information management: The CIO will partner effectively with colleagues within the administration and with members of the Investment Committee, exercising excellent communications skills, both written and verbal. He/she will ensure thorough communications regarding portfolio performance, individual managers, market trends and pricing. The CIO will demonstrate an ongoing understanding of information needs and provide necessary reports and documentation.
· Team leadership: The Vice President for Administration and the Investment Committee will look to the CIO to provide leadership as a senior member of the College staff and to manage and develop the human resources of the Investment Office. He/she will mentor and guide the activities of the Assistant Director of Investments and an Investment Analyst to be hired.
· Unquestioned integrity and the highest ethical standards.
· Imagination, creativity, and intellectual curiosity, and commitment to the mission of a liberal arts institution.
· The presence to interact effectively with an experienced and involved Investment Committee and Board of Trustees, an accomplished administration, alumni and major donors.
· A collegial attitude; able to thrive without personal glory; able to lead and direct in a consultative fashion.
· Courage of convictions and the ability to respectfully debate and to exercise diplomacy.
· A sincere passion for the investment world and a built-in drive to achieve superior performance.
For more information about Colby, please visit www.colby.edu.
APPLICATIONS AND NOMINATIONS
Sarah Burley Reid
~ ~ ~
Colby is an Equal Opportunity/Affirmative Action employer, committed to excellence
through diversity, and strongly encourages applications and nominations of
persons of color, women, and members of other under‐represented groups.
A review of applications will begin immediately and will continue until the position is filled.