The University of Utah is working on an agreement with a separate non-profit group called University of Utah Growth Capital Partners (UUGCP) to manage its endowment funds as well as funds that may come in through UUGCP. It has yet to be determined how that might look like. UUGCP is in the process of selecting an outsourced chief investment office (OCIO) to manage the endowment assets. The University needs to strengthen its team at this time and thus is looking to add an additional position to its team to help manage this relationship.
The University endowment is approximately $1.6B in assets under management – across fixed income, global equity, venture capital, private equity, private credit, private real assets, and diversifying strategies. UUGCP has its own investment committee which provides oversight to the OCIO. The University expects to maintain its own advisory committee which will work in conjunction with the OCIO and the UUGCP advisory committee.
The University of Utah is seeking to recruit a Director of Investments to oversee the management and performance of the University of Utah’s endowment investments. This individual will act as a liaison between the University, the University of Utah Growth Capital Partners (DSO), and the Outsourced Chief Investment Officer (OCIO), and ensure the endowment supports the university’s long-term financial goals and strategic priorities. This position will report into the Associate Vice President, Debt & Asset Management (Treasury), Robert Muir.
Previously, the investment organization was led by a Chief Investment Officer and an investment team of three professionals. Due to the small staff, the team utilized two consultants who provided additional resources. The investment office reported to an Investment Advisory Committee consisting of 7-8 individuals primarily from the Salt Lake City area.
Responsibilities
- Investment Advisory Committee (IAC) Management:
- Organize quarterly IAC meetings.
- Develop agendas, prepare meeting materials, and ensure effective communication among committee members.
- Audit Preparation and Compliance:
- Prepare comprehensive documentation for internal and external audits.
- Focus on the annual investment audit and ensure all necessary schedules and reports are accurate and complete.
- Regulatory Reporting:
- Provide detailed and accurate investment information to the Utah Board of Higher Education as required.
- Ensure compliance with state regulations and reporting standards.
- Financial Analysis and Reporting:
- Conduct monthly financial analysis of the endowment pool to monitor and report on financial performance.
- Provide insights and recommendations based on analytical findings.
- Operational and Compliance Oversight:
- Engage in regular operational discussions with the OCIO.
- Monitor compliance with the University’s Memorandum of Understanding (MOU) and other contractual obligations.
- Strategic Coordination with DSO:
- Work with the University of Utah Growth Capital Partners to develop and implement investment strategies and priorities.
- Align strategic and tactical asset allocation decisions with state parameters and university objectives.
- Endowment Payout Management:
- Ensure endowment payouts align with the needs and priorities of the University of Utah.
- Coordinate with various stakeholders to optimize the utilization of endowment funds.
Minimum Qualifications
Preferences
Type: Benefited Staff
Special Instructions Summary
The University of Utah has engaged with Korn Ferry to conduct this search. You can view the entire profile at: LinkedIn Job Profile.
Please reach out with inquiries to:
Michael Kennedy
Senior Client Partner – Asset Management
M. 404.307.6853
E. Michael.Kennedy@kornferry.com
Jim Flaherty
Senior Associate – Asset Management
M. 508.404.0407
E. Jim.Flaherty@kornferry.com
Suzanne Regan
Project Coordinator
M. 404.764.9968
E. Suzanne.Regan@kornferry.com
Additional Information
The University is a participating employer with Utah Retirement Systems (“URS”). Eligible new hires with prior URS service may elect to enroll in URS if they make the election before they become eligible for retirement (usually the first day of work). Contact Human Resources at (801) 581-7447 for information.
This position may require the successful completion of a criminal background check and/or drug screen.
The University of Utah values candidates who have experience working in settings with students and patients from all backgrounds and possess a strong commitment to improving access to higher education and quality healthcare for historically underrepresented students and patients.
All qualified individuals are strongly encouraged to apply. Veterans’ preference is extended to qualified applicants, upon request and consistent with University policy and Utah state law. Upon request, reasonable accommodations in the application process will be provided to individuals with disabilities.
The University of Utah is an Affirmative Action/Equal Opportunity employer and does not discriminate based upon race, ethnicity, color, religion, national origin, age, disability, sex, sexual orientation, gender, gender identity, gender expression, pregnancy, pregnancy-related conditions, genetic information, or protected veteran’s status.
Posting Specific Questions
Required fields are indicated with an asterisk (*).
Applicant Documents
Required Documents:
Optional Documents:
- Cover Letter
- Appropriate discharge document (such as a DD-214 – Member Copy 4) – Veteran Only – Call 801.581.2169
- Addendum to the University of Utah - Veteran Only - Call 801.581.2169 after submission
Job Details
Open Date: 07/18/2024
Requisition Number: PRN39280B
Job Title: Director, Accounting & Finance
Working Title: Director of Investments
Job Grade: H
FLSA Code: Executive
Patient Sensitive Job Code? No
Standard Hours per Week: 40
Full Time or Part Time? Full Time
Shift: Day
VP Area: President
Department: 00345 - Assoc VP, Chief Invest Officer
Location: Campus
City: Salt Lake City, UT
Type of Recruitment: External Posting
Pay Rate Range: Commensurate with Experience
Close Date: 10/18/2024
Open Until Filled: No
