Director of Investments (Closed)

Lucas Group has been retained by The California Wellness Foundation to assist in the hiring of a new Director of Investments. 

• Position: Director of Investment
• Department: Finance
• Reports to: Chief Financial Officer
• Status: Full-Time, Regular
• Location: Los Angeles, CA

The 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 over $900 million 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 four interrelated portfolios that focus on equitable access to health care; safe and healthy neighborhoods; economic security; and community and organizational leadership. Since its founding, Cal Wellness has awarded nearly 9,000 grants totaling more than $1 billion. As the Foundation looks to the future, it is pursuing new and innovative strategies beyond its core grantmaking to advance its mission, including implementation of new technology systems, development of its public affairs capacity, and establishing mission- and program-related investment portfolios.

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

Overview:
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:

Investment Management

• 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.

Investment Operations/Oversight

• 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.
   

Qualifications:   

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
   

Compensation and Culture:

For this position, the selected candidates starting salary may range from $154,600 to $193,200 per year, commensurate with skills and experience. The full salary range for the position is $154,600 to $231,900 per year. The benefits package includes a variety of health plans, a generous 401(k) retirement savings plan, paid time off, professional development and educational opportunities, matching gifts, and the opportunity to work at a mission- and values-driven organization.

The California Wellness Foundation is guided by a set of core competencies, that are the essential set of knowledge, skills, abilities, and behaviors that enable its team to achieve their mission, goals and philosophy. These include:

• Live Our Core Values: Our North Star. Modeling our values and using them in decision making and navigating challenges.
• Drive Toward Innovation: Be bold. Experiment and learn from both successes and failures.
• Make a Difference: Yes, we can. Own our responsibilities and our ability to make positive change.
• Contribute to One Team: We’re in this together. Our success is a collective effort.
• Show Courage: Be thoughtful but act on your convictions and be open to feedback.
   

To Apply

Lucas Group has been retained for this search. Interested and qualified candidates should apply by uploading their resume letter of interest and salary requirements . All correspondence will remain confidential.

Candidates selected for advancement will be asked to participate in several rounds of interviews, complete a writing assignment and skills assessment.  The final offer will be contingent upon background check, inclusive of credit, and professional references.  If you require reasonable accommodation in order to participate in our interview process, please let us know.

The California Wellness Foundation and Lucas Group are equal opportunity employers.

The above job description is intended to describe the general nature and level of work performed and is not intended to limit the scope of potential work assignments. This is only a summary of the typical functions of the job and duties may differ from those as outlined above.