Organizational Area: Office of the Chief Investment Officer
Location: Oakland, CA
Posting Salary: Commensurate with experience
Position Summary: The Office of the Chief Investment Officer ('UC Investments' or the 'Office') is responsible for managing the University of California's retirement, endowment, working capital, and cash assets under the policies, guidelines, and performance benchmarks established by the Board of Regents. The mission of the Office is to implement those policies and guidelines by selecting, executing, and monitoring investment strategies designed to add value over the benchmarks within a risk-controlled framework.
The Office adheres to high ethical as well as professional standards in serving the investment management needs of its constituency and the Chief Investment Officer has full investment discretion.
The leadership of the Office of the Chief Investment Officer is responsible for the oversight and management of various asset classes by creating and monitoring relationships with new and existing external partners, and creating risk and investment guidelines for these partners. The Senior Investment Analyst plays an important role in the implementation of the tasks associated with the goals, responsibilities, and successful outcomes for the Office. As a member of the Absolute Return team, the Senior Investment Analyst will assist in the selection, evaluation and ongoing assessment of external partners and investment opportunities.
The Absolute Return program is meant to provide diversification to the portfolios that allocate to it. It has the objective of generating attractive risk-adjusted real returns over the long-term that are largely independent from broader market moves.
In consultation and collaboration with the Senior Managing Director and the Absolute Return Team, the Senior Investment Analyst will assist in the recommendation of investment partners, co-investments, special situations/opportunistic investments, and to a lesser extent, direct investments. This includes assisting in the sourcing, researching, evaluation, negotiating, structuring and ongoing assessment of these investments. In addition, the Senior Investment Analyst will also support related industry, strategy and market research, to help the team find opportunities that offer prospectively attractive risk adjusted returns. Finally, the Senior Investment Analyst will prepare and oversee the production of reports and presentations to stakeholders while working with the data, risk, legal and operations teams.
UC Investments has a small team that believes strongly in collaboration. In addition to supporting the Absolute Return team, the Senior Investment Analyst will also collaborate with colleagues across the entire Team (e.g. Public Equities, Fixed Income, Private Equity, Real Assets, Real Estate, Risk, Operations and Legal).
Special Conditions of Employment: Travel Travel outside of normal business hours
Other Special Conditions of Employment: Successful completion of a background check is required for appointment to this critical position.
Job Close Date:
Duty 1: Support due diligence process on prospective investments from beginning to end. This includes but is not limited to researching, sourcing, and generating unique investment markets, strategies, ideas, and opportunities, and triaging them for selection based on portfolio fit and appropriateness, canvassing the landscape; networking and sourcing potential partners most suited for the opportunity, evaluating management teams, ascertaining investment risks, and liaising with operations and legal teams to understand operational and legal risks, executing legal documentation, and collaborating with internal teams to onboard investments.
Deliver high quality analysis and research as part of the due diligence and clearly articulate findings and recommendations to the Senior Managing Director and Absolute Return Team in a timely fashion.
Develop and maintain a network of peers and specialists in order to identify suitable potential investment partners, relevant vendors, and service providers, as needed.
Assist with writing clear and concise independent investment recommendations based on due diligence.
Support the negotiations and structuring process with analysis to optimize outcomes and ensure adherence to the Regent's policies.
Be a key contributor to the Absolute Return team discussions on merits and risks of an investment. In addition, bring comments and views to the Absolute Return team for discussion and review.
Maintain active involvement with investment partners. This includes participating in onsite meetings and quarterly updates with each partner. Attend additional annual meetings on behalf of the Absolute Return team as needed. Be able to speak in depth about each assigned relationship and investment.
Prepare and maintain standardized investment reports on investments in the portfolios, as well as those under consideration, and make recommendations for decision-making purposes. Function:Policy Analysis & Reporting Percent: 40
Duty 2: Provide ongoing research coverage of the hedge fund industry, to identify industry trends and market intelligence and communicate the findings and such insights to the Absolute Return Team.
Support due diligence within the research process on investments under consideration.
Conduct fundamental research and analysis in the due diligence process to identify and assist in monitoring the key performance indicators of investments.
Support the document and legal review process.
Provide research and analytical support as needed. Function:Research Percent: 25
Duty 3: Utilize problem-solving skills to analyze investments on a risk adjusted basis.
Assess risk factors associated with assigned investment opportunities.
Be able to have a dialogue with the Senior Managing Director or Chief Investment Officer on the overall impact of an investment on the risk / reward of the entire portfolio.
Work with the Risk team and various 3rd party service providers to maintain updated data and analysis for risk management.
Collaborate with the Absolute Return and Risk team to proactively monitor and evaluate risks and exposures of the Absolute Return portfolio and its underlying investments.
Work with data, risk and operations teams to ensure robustness of reporting and analytical infrastructure. Function:Risk Reporting Percent: 25
Duty 4: Lead projects and assignments, as requested. These projects may include but are not limited to: providing performance attribution, creating presentation materials, project management and drafting memos and letters. Function:Additional Duties Percent: 10
Job Requirements Bachelor's degree and a minimum of 5 years of relevant experience or an equivalent combination of education and experience.
Ability to generate both qualitative and quantitative independent analysis.
Plan and manage projects in their entirety and ensure they are delivered on time.
Having the judgment to ask informed and discerning questions both internally and externally to seek desired information or understanding.
Ability to clearly articulate investment decision process and results to the Senior Managing Director and the Absolute Return Team in a timely fashion.
Ability to prioritize multiple tasks with guidance from the Senior Managing Director and the Absolute Return Team.
Demonstrate a strong working knowledge of the hedge fund industry and the various strategies.
Ability to support investment decisions with incomplete information.
Ability to develop investment forecasts and modify decisions based on updated forecasts and changing data points.
Demonstrate original thinking.
Demonstrate proficiency at relationship management and the ability to build and utilize extensive personal network of industry contacts.
Work in a collaborative and consultative environment.
Strong technical skills that can be applied to developing original models as well as reviewing the technical work of other team members.
Excellent oral and written communication skills. Required
MBA/CFA or a specialized professional designation.
Knowledge about the University's investment policies and processes; asset allocation guidelines and benchmarks.
About us The University of California, one of the largest and most acclaimed institutions of higher learning in the world, is dedicated to excellence in teaching, research and public service. The University of California Office of the President is the corporate headquarters to the ten campuses, five medical centers and three Department of Energy National Labs and enrolls premier students from California, the nation and the world.
The University of California is an Equal Opportunity/Affirmative Action Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability, age or protected veteran status.
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About University of California Office of the President
The Office of the President is the systemwide headquarters of the University of California, managing its fiscal and business operations and supporting the academic and research missions across its campuses, labs and medical centers.