Director, Retirement Plan (DC) Investments

Northwell Health

About The Position

Northwell is seeking an experienced investment professional to join Northwell’s Investment Office as Director of Retirement Plan Defined Contribution (DC) Investments. Northwell seeks an exceptional individual who will be a key member of the Investment Office, working closely with the Health System’s Investment Committee and external consultants reviewing Defined Contribution (DC) investment offerings, fees, target date funds, retirement income solutions, investment policy statements and selecting & monitoring investment managers for the defined contribution plans.

Requirements

Bachelor’s Degree in Finance or related field, required.
Minimum of seven (7) to ten (10) years of experience in large fund investment management.
Experience in corporate, pension, healthcare, consulting or investment management, with a fiduciary mindset required.
Knowledge of important DC industry & regulatory issues, litigation risks, QDIA-selection/target date funds, CITs, key recordkeeping issues and custodians, required.
Knowledge of modern portfolio theory, risk controls, active versus passive management, performance attribution & benchmarking, required.
Knowledge of key factors in evaluating manager performance across stable value, equities, fixed income, REITS and alternative investments, required.
Experience negotiating investment management agreements, guidelines, fees, required.
Fiduciary mindset, extremely strong analytical / intellectual skills and business acumen.
Strong verbal and written communication skills.

Nice To Haves

MBA, CFA, CAIA preferred.
Experience in several of these environments, preferred.
Experience working with an involved and senior level Board Committee, preferred.
Experience with plan mergers, consolidations, or transitions, preferred.
Proficiency with investment analytics and risk tools, preferred.
Knowledge of participant demographics, behavioral finance applications & participant outcomes, custom target date funds, managed accounts and thorough understanding of retirement income solutions/decumulation, preferred.

Responsibilities

Works as a key member of the Investment Office reporting to VP Investments.
Oversees DC investments: Monitors all DC managers, holds update calls, provides summaries to senior management.
Analyzes investment drivers of performance results, attribution and risks, identifies issues.
Identifies and monitors portfolio risks at manager, portfolio and system levels.
Evaluates and recommends DC plan structure and investment lineup design.
Conducts periodic recordkeeper RFPs to ensure best available fees and services.
Performs regular benchmarking of investment management and recordkeeping fees.
Prepares agendas and participates in Committee/Subcommittee meetings.
Interacts directly with Trustees, consultants, managers on investment issues.
Prepares reports and participates in presentations to Trustees and senior management.
Provides regular communications to key stakeholders (internal and external) regarding all aspects of the DC investment programs.
Builds strong working relationships with colleagues at all levels (internal and external).
Utilizes logical, fact-based analytical tools to articulate and overcome objections and solves complex problems using multiple problem-solving tools and techniques.
Upholds and communicates the mission, vision and values of the Health System.
Works to create a culture of integrity, quality and engagement.
Ensures compliance with federal, state and local regulations and tax laws.
Tracks and assesses the impact of DOL guidance and other legislative and regulatory developments on DC plan design and investments.
Oversees the development, review and distribution of reports and procedural statements which ensure regulatory and policy compliance.
Participates in investment industry conferences/educational programs.
Performs related duties, as required.