Assistant Director of Marketable Investments
The William and Flora Hewlett Foundation, based in Menlo Park, California, is seeking an Assistant Director of Marketable Investments to work in its Investment Department.
About the Foundation
The William and Flora Hewlett Foundation has been making grants since 1967 to help solve social and environmental problems at home and around the world. The Foundation concentrates its resources on activities in education, the environment, global development and population, performing arts, and philanthropy, and makes grants to support disadvantaged communities in the San Francisco Bay Area. The Foundation’s assets are approximately $7.5 billion, with annual grant awards totaling more than $350 million. A thirteen-member Board of Directors provides overall direction for the Foundation. For more information about the Hewlett Foundation, please visit its website at www.hewlett.org.
About the Investment Department
The Investment Department’s mission is to pursue an investment strategy that generates optimal risk-adjusted returns that are sufficient, over time, to sustain the real value of the Foundation’s endowment net of payout. Currently, all investments are made through external managers. The investment portfolio is widely diversified by geography and across a range of asset classes.
About the Position
The Assistant Director of Marketable Investments will report to the Director of Marketable Investments. Marketable investments currently comprises the Foundation’s exposure in distress/credit, absolute return, derivative overlay strategies, fixed income, and cash. Additionally, marketable investments includes secondary support of the Foundation’s exposure in public equities, currently managed by the Foundation’s Co-Chief Investment Officer.
The Assistant Director’s primary responsibility will be to assist in portfolio management, performance analysis, and manager oversight for the Foundation’s marketable investments portfolio. The Assistant Director will also support endowment-level research and analysis, including work on benchmarks, performance, risk analytics, and liquidity forecasts.
In addition, the Assistant Director will:
- Assist the Director in closely monitoring and analyzing the existing marketable investments portfolio.
- Develop and manage spreadsheets for analysis of manager-specific and sub-asset class performance and risk characteristics.
- Generate analysis and reports on manager performance, as needed, using various databases, including Cambridge and Burgess.
- Assist the Director in performing due diligence for prospective investments.
- Save performance- and portfolio-related correspondence from external managers, with responsibility for managing the electronic filing system as well as maintaining binders of manager letters.
- Generate a weekly asset deployment report and other customized liquidity projections required for portfolio rebalancing and strategic planning.
- Support the Director with modeling and analysis of benchmarks, portfolio performance, risk, and liquidity.
- Assist in evaluating and monitoring total return swaps and derivative strategies for the purpose of the absolute return overlay program and/or tactical asset allocation.
- Research broad investment and industry trends, and support the Director and the Foundation’s investment team in various projects as required.
Required Skills and Knowledge
- M.B.A. or C.F.A. required.
- At least three to five years of institutional investment management experience.
- Demonstrated mastery of quantitative methods and analytical problem-solving skills.
- Expert knowledge of Excel and the ability to develop and manipulate complex financial models.
- Highly developed, demonstrated knowledge of financial markets in a broad range of asset classes.
- Strong knowledge of asset class and manager assessment methodologies.
- Team orientation and interest in supporting the work of a philanthropic foundation.
- Ability to multitask and prioritize among many time-sensitive demands.
- Excellent oral and written communication and presentation skills.
Physical Demands/Work Environment
The physical demands described are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
While performing the duties of this job, the employee is required to spend extended hours at the computer. This position also requires moderate levels of travel.
Compensation and Benefits
The Hewlett Foundation offers an excellent benefits package and a salary that is commensurate with experience and education. This position is exempt and full-time.
How to Apply
Please send a resume and cover letter addressed to Brett Johnson, Director of Marketable Investments, explaining why you are interested in this position and how your skills and experience fit it:
• Email: email@example.com (Subject Line: [Your Name] – Assistant Director, Marketable Investments)
• Fax: 650.234.1985
• Mail: Human Resources
The William and Flora Hewlett Foundation
2121 Sand Hill Road
Menlo Park, CA 94025
Application Deadline: Until filled
The William and Flora Hewlett Foundation is an equal opportunity employer and welcomes a diverse pool of candidates in this search.