Director of Investment Administration
Nonprofit Management, Investment Management
Bachelor’s Degree; Masters a plus
Nonprofit, University-Related Foundation
CFA, CFP and/or CPA a plus
UNIVERSITY OF NORTH TEXAS FOUNDATION, INC.
Physical Address: 801 North Texas Boulevard, Suite # 149 Denton, TX 76203
Mailing Address: 1155 Union Circle #311250
Denton, TX 76203-5017
Director of Investment Administration & Client Relationships
The Foundation serves as investment manager and the fiscal and fiduciary agent for its endowment funds, as well as those of the University of North Texas (“UNT” or the “University”) and the University of North Texas at Dallas (“UNT Dallas”). The Foundation is not the fundraising arm of the University, but works in close partnership with the UNT Division of University Advancement (“UNT Advancement”), which manages fundraising, donor relations, capital campaigns, event management, and alumni relations.
The Director of Investment Administration & Client Relationships is responsible for leading and managing all aspects of the University of North Texas Foundation, Inc.’s investment management, reporting, and client relationship management functions. The Director reports to the CEO/President of the Foundation. The Director has no direct supervision responsibilities, and works in cooperation with the Foundation’s Controller and other Foundation staff.
MAJOR DUTIES AND RESPONSIBILITIES
The Director will actively manage all aspects of the Investment Committee’s annual master schedule, quarterly meetings, and ongoing process for managing the Foundation’s investment portfolio, comprised of UNT, UNT Dallas and Foundation endowments. Responsibilities include developing the agenda, in consultation with the Investment Committee chair and the Foundation’s external investment consultant (the Consultant”), and ensuring that all related materials are prepared and distributed in advance, including the Consultant’s quarterly investment report and recommendations, meeting minutes, supplemental and comparative analyses, policy changes, and sub-committee recommendations. The Director will be responsible for executing securities and fund trades, capital calls and distributions, and appropriately communicating investment transaction and value information to the Consultant and Foundation’s accounting staff. The Director will also be responsible for administering the Foundation’s Investment, Spending, and Distribution Policies, ensuring compliance as well as developing proposed amendments, as needed, to address ongoing needs. Finally, the Director will be responsible for identifying issues, opportunities, and key matters and bringing them to the Investment Committee for consideration at the appropriate time.
The Director will be the primary point of contact and relationship manager with the UNT Vice President for Finance & Administration and UNTS Vice-Chancellor for Finance, Board of Regents, and CFOs of institutions participating in the combined endowment investment pool. As such, if called upon, he/she will lead investment reviews with the System Investment Advisory Committee (UNTS VC for Finance, institution CFOs, and other appointed members); provide support to the UNTS VC for Finance and Board of Regents, as needed; and prepare formal presentations and represent the Foundation to the Board of Regents, as requested. The Director will also be the primary point of contact with UNT Advancement for communication of quarterly investment performance updates, and in assisting UNT Development Officers and other UNT Advancement staff with donor relations as requested.
The Director will prepare monthly portfolio review reports for the Board and quarterly updates on investment performance, risk/return, asset allocation, and investment process and manager descriptions for the Foundation’s website and quarterly Board materials. He/she will prepare other periodic reports and presentations for the Board as required, as well as provide information requested by UNT and UNTS personnel, endowment account-holders and donors, and others, as appropriate. The Director will also be responsible for maintaining historical detailed investment transaction and performance information, and summary historical endowment information. Finally, the Director will develop training materials for use with the Foundation’s partners in Advancement, UNT and UNTS to familiarize them with the Foundation’s investment portfolio, execution of spending and distribution policies, and fiduciary responsibilities under TUPMIFA.
The Director will monitor the markets and trends affecting performance of the Foundation’s portfolio and significant asset classes on an ongoing basis. Additionally, he/she will maintain relationships with the Foundation’s investment consultant, significant investment managers, and research organizations to stay abreast of market opportunities and products that are appropriate for the Foundation and recommend them to the Consultant and the Investment Committee Chair for consideration. The Director will also stay abreast of information and trends related to the endowment management practices of institutionally-related foundations for comparative purposes and to identify best practices. Finally, the Director will participate on behalf of the Foundation at selected industry conferences and investment presentations.
The Director will coordinate their work with Foundation personnel responsible for valuing and unitizing its investment portfolio. Additionally, he/she will assist in addressing questions, support requests, and audit-related queries from those the Foundation supports.
The Director will perform similar coordination and management functions for the Foundation’s Trust Management & Real Estate committee, including managing the resolution of certain gifts of real estate, bequests and other non-cash gifts.
The Director will manage the Foundations’ relationship with UNT’s Student Investment Group (“SIG”), including SIG attendance at Investment Committee meetings, oversee SIG’s investment management of a subset of the Foundation’s reserves, and serve as a mentor/liaison between the SIG Board, the College of Business Administration, and the Foundation’s Investment Committee and Board of Directors.
It is important to note that many of the above responsibilities and practices have been developed and implemented in recent years in response to rapid expansion of the Foundation’s investment responsibilities. Consequently, the Director will be strongly encouraged to re-evaluate them and develop others to be responsive to changing circumstances and continually improve the Foundation’s investment and endowment management practices to promote efficiency, effectiveness, and client satisfaction.
Finally, as a separate business entity, the Foundation has diverse responsibilities managed by a relatively small staff, requiring staff members to wear multiple hats and contribute where needed. As a member of the Foundation’s senior management team, the Director will also be expected, from time to time, to undertake responsibilities, create analyses, manage projects, make recommendations, write policies, and perform work in areas not directly described above. Flexibility, versatility, and the ability to contribute across a range of functions are key to the success achieved – and fulfillment derived – by someone in this position.
Baseline requirements include a minimum of ten years of progressive career growth in investment management, analysis, and reporting functions, and a Bachelor’s degree from an accredited university. Executive-level management and client relationship experience, in either industry, higher education, or a nonprofit foundation are essential to this role. Candidates should demonstrate:
- Thorough knowledge of financial investments, portfolio and risk management practices, operations of investment pools, and applicable laws and regulations affecting charitable organizations, particularly in the State of Texas.
- Excellent analytical and written/verbal communication skills, as well as the ability to create and make effective presentations and communicate with a diverse range of audiences.
- Team-building and influence skills; the ability to build effective relationships and work collaboratively with others to achieve desired ends, regardless of their place in the organizational hierarchy.
- Operational and relationship management skills, with an orientation toward client service and continuous process improvement.
- Organizational savvy to understand and navigate complex, multi-level organizational dynamics and relationships, both within the Foundation and with its UNT and UNTS partners.
- Financial management and reporting skills, and the ability to formulate sound policy recommendations.
The position requires the ability and experience to work closely with a Board of Directors and Investment Committee, who participate in an active volunteer committee structure. Flexibility to adapt to evolving priorities consistent with the organization’ s evolving mission is also essential for success in this role.
Qualifications and certifications that may distinguish a candidate include a CFP/CFA/CPA certification, or similar professional credential, as well as an earned Master’s or terminal degree from an accredited post-baccalaureate institution. Prior involvement in nonprofit organizations as a staff member, volunteer or board member will also be valued, as will work experience in higher education or institutionally-related foundations.