The board has recently approved several governing policies to increase more resources flowing to the community while enhancing investment management oversight. The Board approved a $50 million carve- out for mission related investing and program related investing, and increased payout policy which increased grantmaking and newly created a six-member investment committee including for the first time two community investment advisors. The newly created role of Director of Investment will play in significant role in driving many of these new initiatives.
The Director of Investments will work closely and collaboratively with the Chief Financial Officer and two external investment consultants to execute an investment strategy and will be a critical member of the Finance Department along with Controller, serving as a member of CFO’s senior management team. This position will have frequent contact with CEO, Executive Management Team, Treasurer and Board Leadership.
The ideal candidate will bring a broad capital markets and mission related investments knowledge base to support investment strategies, manager selection, and asset allocation across all key asset class areas.
Essential Duties and Responsibilities:
Support the management of the investment process by working collaboratively with external investment consultants and CFO to recommend and present investment strategies to the investment committee of the board, including performing due diligence and document review.
Lead staffing the Investment Committee and preparing materials for Investment Committee and Board meetings.
Mission Related Investment/Program Related Investments
Support mission related investments (MRI) strategy development including developing strategy to expand investments with diverse investment managers.
Assist in developing a grantmaking strategy to promote and support the mission related investing field in the philanthropic community.
Partnering with internal program staff, support developing and implementing program related investment (PRI) portfolio including conducting due diligence and building pipeline of potential investments.
Collaborate with Public Affairs team in developing and implementing a shareholder engagement strategy.
Assist in developing impact measurement framework for MRI’s and PRI’s and manage ongoing impact theses and measurement which includes data collection, analysis, and extraction of critical insights.
Oversight of all quarterly performance reports generated by external consultants and reconciliation of all manager data with custodian for all asset classes.
Manage and execute process to establish and fund new investments; review and coordinate execution of all documents related to new investments.
Provide audit support for asset class/strategy classification, liquidity and fee terms and other summary data for each manager and fund. Prepare leveling and other required disclosures for the financial statements.
The successful candidate will have a strong investment philosophy with a deep knowledge of managers and strategies across a variety of asset classes, regions, and sectors. This individual will possess experience in analyzing and monitoring investments, risk management, and managing the investment process. The individual will also possess the ability to work well with others and interface with managers, service providers, board trustees and foundation leadership. While no one candidate will embody all the qualifications enumerated below, the ideal candidate will possess many of the following professional and personal abilities, attributes, and experiences:
Seven to ten years of institutional investment management experience, preferably at an endowment, foundation, plan sponsor, or consulting firm. CFA a plus.
Knowledge and experience investing across asset classes, especially alternative asset classes including hedge funds, private equity, venture capital, real estate, and real assets.
Knowledge and experience mission related investments and program related investments
Self-motivated with a strong ability to prioritize responsibilities and work on multiple projects with limited direction
Detail-oriented and analytical, with the ability to think critically and constructively challenge others
Knowledge of investment theory, financial markets, tax concepts and regulations and financial analysis
Exceptional written and verbal communications skills and ability to convey complex information and data visually and orally in a concise, effective, and engaging way.
Ability and willingness to travel periodically.
Passionate about The California Wellness Foundation’s mission to protect and improve the health and wellness of the people of California
About The California Wellness Foundation
THE CALIFORNIA WELLNESS FOUNDATION
The California Wellness Foundation is a private, independent foundation established in 1992 with a mission to protect and improve the health and wellness of the people of California. As one of the largest health-focused foundations in California, with approximately $1 billion in assets, Cal Wellness is a nationally recognized leader for its strategic core operating support for grantees; public policy grantmaking; and a focus on violence as a public health issue. It is Cal Wellness’ desire to promote equity and level the playing field so that everyone has access to good-paying jobs, healthy and safe neighborhoods, and quality health care services. The Foundation’s current Advancing Wellness grantmaking strategy includes three interrelated portfolios: Bridging the Gaps in Access and Quality Care; Promoting Healthy and Safe Neighborhoods; and Expanding Education and Employment Pathways. In addition, the foundation is proud of its $15 million initiative focused on women of color and its recent investments in the area of immigration. Since its founding, Cal Wellness has awarded nearly 9,000 grants totaling more than $1 billion. Its annual operating... budget is approximately $13M, and its annual grantmaking is approximately $37M. In addition, Cal Wellness awards approximately $2 million in Program Related Investments (PRIs) each year.
As the foundation looks to the future, it is pursuing new and innovative strategies beyond its core grantmaking to advance its mission, including using the foundation’s voice to speak out on critical issues that affect health and wellness, and investing $50 million in mission related investments (MRIs).
Cal Wellness has a diverse staff of approximately 40 located in our Los Angeles and Oakland offices and a diverse 11-member Board located throughout the state of California. The Foundation’s work underscores a belief that wellness requires social justice, a deep commitment to diversity, equity and inclusion (DEI), and sustained efforts to eliminate systemic barriers that prevent access to health care, education, employment and safety.
Please visit http://www.calwellness.org for more information