Interview with University Endowment

Hi all I have two years in client services with a major AM. I have the opportunity to interview with a top 25 university endowment. Is there anyone here who has experience working for an endowment? I’m thinking this may be a good shot at a front office-ish position… It will also give me good exposure and contacts with other asset managers. Any thoughts? Job Title: INVESTMENT ANALYST Department Name: Investment Office Job Category/Family: Finance Job Discipline & Career Level: Investments / Associate OR Senior Salary Grade: 43 OR 44 Date Posted: 8/10/07 JOB SUMMARY This position reports to the Senior Director of Investments and is responsible for providing a wide range of support in the development, management and direction of the investment portfolios (endowment, life income assets and licensing stock portfolio) in both the public and private markets. RESPONSIBILITIES Overall Responsibility. The Investment Analyst plays an important role in supporting the Investment Office in the implementation of the portfolio’s investment strategy. The Investment Analyst will assist in the identification, evaluation, selection and ongoing assessment of external managers. He/She will support Senior Management and the Investment Directors by performing research, and preparing a variety of written materials, including memos and investment reports for review. The Investment Analyst will also monitor and report on industry trends. Investment Management Portfolio Management * Asset Class Strategies and Portfolio Construction. Supports Senior Director of Investments in portfolio management and portfolio construction of the endowment. Investment Managers * Manager Identification. As requested by Senior Director of Investments, evaluates managers sourced through trustees, non-trustee investment advisors, colleagues, and investment managers for strategy and portfolio fit. * Manager Due Diligence. As directed by Senior Director of Investments assists Asset Class Directors in conducting manager due diligence and developing recommendations to Chief Investment Officer (CIO) for manager hiring. * Manager Monitoring. As directed by Senior Director of Investments assists Asset Class Directors in conducting manager monitoring. Assists in making recommendations to the CIO for manager “watch list”, termination, and increased/decreased allocations. May be asked to attend annual limited partner meetings as needed. Will develop and maintains necessary databases, deal logs, etc. Other * Monitors fundamental research of industry trends in both the public and private arena and communicates the findings of such research to the Investment group. * Helps develop and maintain industry information database, as well as track investment information through the Internet. * Prepares analysis and written investment reports, presentation materials, memos and letters. * Participates in analysis/portfolio review meetings with existing or prospective investment managers and writes up meeting notes. * Provides support for special projects. * Other duties as assigned. QUALIFICATIONS Academic and Other Credentials: Bachelors degree in finance/economics, with postgraduate degree (M.B.A. or other advanced degree in mathematics, economics, finance, business, accounting, etc.) or C.F.A. designation a plus. Work Experience: Ideally the candidate will have at least 2 years of experience in the investment world, with substantial knowledge of the financial markets. This could have been gained as an investment analyst (either in the foundation, endowment, plan sponsor, private bank, or public finance world) or investment consultant. The selected candidate must pass a pre-employment background investigation to be hired for this position. KEY SKILLS, KNOWLEDGE AND ABILITIES Critical to success in this program are the following: * The ability to work closely and effectively with a small investment team and University administration, and represent the Treasurer’s Office and the University in a highly professional manner. * Experience, enthusiasm and intellectual interest in identifying and evaluating investment opportunities, and a desire to achieve superior performance. * The ability to think critically (“healthy skepticism”) and strategically, cut through complexity, synthesize and articulate complex strategies in a simple, meaningful, jargon-free fashion. * Exceptional quantitative, analytical and computer skills and the ability to apply these rigorously with respect to preparing complex investment analysis. * The ability to be constructively challenging, skillfully diplomatic, and respectfully debate. * The ability to handle multiple assignments often with competing priorities and tight deadlines. * Demonstrated exceptional communication skills, both orally and in writing. * Travel and personal flexibility to contribute effectively to the operations of an investment team are required in this job. SUPERVISION The Senior Director of Investments will provide supervision and direction for this position.

You can’t work there… “or C.F.A. designation”

You should report them to CFAI. They’re violating standard VII(B) by using periods in CFA.

Are they? they’re asking for the designation, not using it… Who knows, maybe there’s something called a “C.F.A.” that we don’t know about…

True. C.F.A. is used by the Cat Fancier’s Association. That might be what they’re referring to.

Prove to us that you love cat’s or have an MBA. haha

Seriously… any point going from a big firm to a small endowment (about 2bn)?? I’m 26.

Danteshek Wrote: ------------------------------------------------------- > Seriously… any point going from a big firm to > a small endowment (about 2bn)?? I’m 26. smaller firms tend to be far less burecratic and more innovative as well as more receptive to new ideas and willing to give their employees more flexibility to execute their ideas. That said, that is only if you have a good manager, if your manager at the small firm is a control freak, your in a dead end job quickly with no growth. With small institutions alot would I think depend on the IM; with a large organization, it’s all about the reputation of that organization.

Why don’t you interview first and see if you even get the job. Then worry about whether or not you will accept the offer.

CFA_Halifax Wrote: ------------------------------------------------------- > > smaller firms tend to be far less burecratic and > more innovative as well as more receptive to new > ideas and willing to give their employees more > flexibility to execute their ideas. That said, > that is only if you have a good manager, if your > manager at the small firm is a control freak, your > in a dead end job quickly with no growth. Sadly, this is also true at larger firms. It’s incredible how much detriment a controlling or micromanaging boss can create for themselves and their juniors. Most of the time, I believe this is because these managers are too insecure or too unintelligent to know how to be a good manager, because pretty much anyone I know whom I’ve ever thought was accomplished and respectable generally entrusted and empowered their workers, rather than trying to keep them on a leash all the time. What else have you guys observed about micromanagers/control freaks?

numi Wrote: ------------------------------------------------------- > CFA_Halifax Wrote: > -------------------------------------------------- > ----- > > > > > smaller firms tend to be far less burecratic > and > > more innovative as well as more receptive to > new > > ideas and willing to give their employees more > > flexibility to execute their ideas. That said, > > that is only if you have a good manager, if > your > > manager at the small firm is a control freak, > your > > in a dead end job quickly with no growth. > > Sadly, this is also true at larger firms. It’s > incredible how much detriment a controlling or > micromanaging boss can create for themselves and > their juniors. Most of the time, I believe this is > because these managers are too insecure or too > unintelligent to know how to be a good manager, > because pretty much anyone I know whom I’ve ever > thought was accomplished and respectable generally > entrusted and empowered their workers, rather than > trying to keep them on a leash all the time. What > else have you guys observed about > micromanagers/control freaks? None of this is actual experience per se in investment management, but pure OB theory and practical exp in other industries applied to this insutry, which has in my opinion a high saturation of people with inferiority complexes (including myself)