Manager of Investments

The University of Michigan Investment Office is seeking a dedicated, intellectually curious and collaborative individual with a strong desire to succeed to become a key member of its accomplished investment team.

THE INVESTMENT OFFICE

The University of Michigan Investment Office is responsible for directing and overseeing the investment of the University’s $14 billion of financial reserves, which includes the 9^th largest university endowment.  The Investment Office staff works with many of the top investment managers globally to provide the financial resources necessary to ensure the long-term success of one of the world’s great teaching and research institutions.

THE POSITION

The successful candidate will identify, evaluate, recommend, and monitor investment opportunities for the $6 billion portfolio of public equity, absolute return and fixed income assets and report directly to the Managing Director for Marketable Assets.  In addition, s/he will work with the Managing Directors across the entire portfolio to formulate asset allocation policies as well as investment and risk management strategies. As a senior member of the investment team, the Manager of Investments will be expected to take a leadership role in developing junior investment colleagues.

RESPONSIBILITIES

The successful candidate will be responsible for providing leadership in managing the portfolio. Specific responsibilities will be to:

• Source, perform diligence on, and maintain a pipeline of compelling opportunities that could contribute meaningfully to the University’s investment portfolio.
• Monitor and review the performance of investment managers.
• Review and negotiate investment management agreements, partnership agreements, offering documents, subscription agreements, and other legal documents related to both public and private investments in conjunction with internal and external counsel.
• Work with Investment Accounting staff to ensure proper accounting, performance measurement and compliance with procedures and policies.
• Keep current on investment trends and contribute meaningfully to investment discussions and initiatives involving all investment classes in the university’s portfolio.
• Help lead the research agenda, portfolio strategy, and portfolio construction process.
• Support the continuing refinement and enhancement of analytical tools for performance reporting, benchmarking, risk reporting and cash flow forecasting.
• Communicate effectively with both internal and external senior executives.
• Represent the University of Michigan in a number of forums, including meetings of managers, fund advisory boards, and industry conferences.

Basic Job Qualifications

• A minimum of seven years of investment management or related experience with a track record of outstanding investment performance while demonstrating an awareness and sensitivity to risk/return tradeoffs and liquidity and spending constraints.
• A thorough knowledge of portfolio management and a strong understanding of capital markets.
• A deep understanding of the global universe of investment managers.
• An ability to think critically and strategically with solid applied quantitative skills related to finance, statistics and modeling.
• Strong oral and written communications skills.
• A demonstrated ability to lead a team, execute strategy, achieve goals and to contribute effectively in a team environment.
• A desire to establish positive working relationships demonstrating integrity and a high degree of ethical propriety.

Preferred Job Qualifications

• Advanced Degree
• CFA
• Experience as an institutional investor with direct investment responsibility.

Requirements

• This position requires a significant amount of travel, including travel outside the United States, for purposes of performing due diligence, investment manager monitoring and attending market related conferences.

The University of Michigan

Founded in 1817, 20 years before the Michigan Territory became a state, the University of Michigan is the state's oldest university. Since then, alumni, parents, and friends have generously supported the University’s efforts to provide an unparalleled education for its students. The University is the second largest research school in the country and is one of four Universities with 100 programs ranked in the Top-10 nationally.

The University of Michigan is constitutionally autonomous from the State of Michigan and governed by the Board of Regents, which consists of eight members elected at large. The Regents serve without compensation for overlapping terms of eight years and have “general supervision of the institution and the control and direction of all expenditures from the institution's funds.”

Apply ONLY online at http://careers.umich.edu/ for job id # 174815. The University of Michigan is an equal opportunity, affirmative action employer.