Managing Director, Investments

The Law Foundation of BC•Vancouver, BC

1d•CA$161,686 - CA$206,599•Hybrid

About The Position

The Managing Director, Investments is a key member of the Foundation’s Finance team which supports the larger organization to create, amplify, and support innovative solutions to difficult access to justice challenges and systemic inequities that affect the well-being of diverse communities in British Columbia. Reporting to the Director of Finance, the Managing Director, Investments plays a critical role within the Foundation, providing direction and leadership for our investment strategy. This role will work closely with the Foundation’s Investments Subcommittee, Board of Governors, Executive Director, and Director of Finance in the development and execution of the Foundation’s investment strategies, policies, and procedures. This position is also responsible for risk management, monitoring the performance of investment managers, collaborating with the Director of Finance on strategy, performing detailed analysis and preparing comprehensive reporting, and ensuring a rigorous investments governance and compliance environment is maintained. This role provides independent, expert investment leadership to the Senior Leadership Team and Board, strengthening investments governance and ensuring the Foundation meets its fiduciary obligations. The Foundation is at an exciting moment in our history, as we are midway through our 2023-2028 Strategic Plan. We actively pursue structural and operational change to respond to the new challenges we face. While the implementation of strategic priorities is an all-of-Foundation endeavour, it is intended that this position advances the Foundation’s mission through the strategic plan's focus area of “Building a Thriving Foundation”, which aims to provide the Foundation with strong infrastructure and resources to serve our mandate.

Requirements

Senior leadership experience in directing complex decisions related to large ($200M+) multi-asset class portfolios
10+ years of institutional investment experience, ideally in endowment/foundation models, pension funds, and/or asset management
CFA or equivalent experience and education
Strong understanding of portfolio construction, risk management frameworks, and private and public markets
Strong understanding of responsible investing principles and how investment professionals measure, manage and integrate ESG and other responsible investing factors within their strategy and processes
Familiarity with the impact-investment landscape in Canada
Experience overseeing both the strategic and operational aspects of managing one or more investment portfolios
Experience with progressive management and leadership at a senior organizational level
Experience collaborating with external service providers, including custodians, consultants and investment managers
Strong quantitative analysis skills
Strong understanding of investment-related risk management
Experience working with Boards and Investment Committees

Nice To Haves

Strong commitment to the Law Foundation’s vision, mission, and values
Advances the Foundation’s anti-racist, intersectional mission for justice, equity, diversity and inclusion
Demonstrates intercultural competency, cultural humility, and experience affirming rights of marginalized groups (e.g., Indigenous peoples, 2SLGBTQIA+, persons with disabilities, ethnic/religious/linguistic minorities, and/or women and children).
Demonstrates good judgment and strong ethics
Strong team leadership and networking capabilities
Advanced MS Excel skills and the ability to calculate rates of return and generate portfolio analytics, including performance and risk/return statistics
Excellent written and oral communication skills, especially the ability to explain one’s views clearly
Highly capable of collaboratively developing and executing on strategy with other senior leaders
Independent; willing and able to challenge external investment managers and internal assumptions
Excellent and sensitive interpersonal skills, including an ability to listen to others and learn from their best ideas, share best practices and experiences, and contribute to a learning environment
Commitment to creating and reinforcing a transparent, accountable, mutually respectful collaborative work environment
Ability to manage own workload, recognizing both the reality of external events beyond our control and the Foundations’ desire and commitment to fostering a heathy workplace which supports employees with a range of family structures and personal commitments
Ability to understand and navigate applicable regulatory requirements

Responsibilities

Develops and executes investment policy, strategy, and procedures to optimize returns at risk levels appropriate for the Foundation
Works closely with the Director of Finance to ensure investment strategy, policy, and asset allocation align with the Foundation’s financial outlook and liquidity needs
Integrates the Foundation’s values into investment strategy, policy, and decisions
Brings forward innovative investment topics and ideas for discussion with Governors and members of the Senior Leadership Team
Identifies and sources investment opportunities and products that support the Foundation’s investment and mission objectives, including responsible investing goals
Stews the Foundation’s mission and vision by clearly articulating the value of the Foundation’s work to investment managers and other external parties
Analyzes risk, return, and asset mix at the portfolio and manager level
Identifies emerging risks and performs stress testing under various scenarios
Oversees the annual review of the Foundation’s Investment Policy
Continually develops and applies the Foundation’s Responsible Investing Philosophy
Oversees periodic asset mix reviews, working in close collaboration with the Investment Advisor
Collaborates with the Director of Finance in the selection of deposit products such as GICs, term deposits, and interest-bearing savings accounts, and in developing Treasury strategy and policy that best serves the Foundation’s investment objectives and operational needs
Provides insight into interest rate outlook and capital market trends, proactively communicating implications for the Foundation’s strategy
Collaborates with other law foundations to share learnings and best practices, and maintain a sound understanding of the investment landscape across Canada
Maintains and executes a strong investments governance framework to ensure the responsible management of the Foundation’s investments in accordance with professional standards and fiduciary obligations
Maintains the Foundation’s reputation by supporting a positive, inclusive, and reciprocal culture, both internally and in relationships with investment managers and advisors
Organizes the Investments Subcommittee meetings, including preparing the agendas and owning responsibility for reporting to committee members
Prepares clear, decision-focused performance and compliance reporting for the Investments Subcommittee
Works closely and collaboratively with other members of the Finance team to develop, maintain, and present financial reporting related to investments
Delivers presentations regarding the Foundation’s investments to the Board, Finance and Operations Committee, Investments Subcommittee, and Senior Leadership Team as applicable
Oversees total portfolio performance across all asset classes
Holds primary responsibility for oversight of investment managers
Establishes and monitors portfolio risk and performance metrics
Gathers, assesses the completeness of, and analyzes all periodic reporting from investment managers
Assesses the performance of investment managers, both in terms of risk/return and regarding responsible investing objectives, ensuring performance meets or exceeds investment objectives over the long term
Ensures compliance with all applicable legal, regulatory, professional and fiduciary standards
Monitors manager activity for adherence to guidelines, constraints, contract terms, investment philosophy and stated risk tolerance
Solicits feedback from the Investments Subcommittee in the assessment of investment performance and making decisions in response to performance findings
Leads investment manager selection, onboarding, and termination processes
Conducts due diligence and review, and makes recommendations regarding investment manager selection
Analyzes investment management fees and negotiates rates and fee structures with investment managers
Assists Finance team members with gathering information for periodic accounting transactions, investment reconciliations, and audit documentation
In partnership with the Director of Finance, Director of Communications, and Manager of Trust Accounting, maintains excellent working relationships with investment managers and other financial institution contacts, including through regular in-person meetings and attendance at events
Maintains a close working relationship with the Foundation’s investment advisors to ensure sound oversight of the Foundation’s investments
Collaborates closely with the Director of Finance, Controller, and/or Manager of Trust Accounting on cross-functional strategy, policy and procedure, including the management of financial institution relationships
Works closely with other members of the Finance team to ensure the efficient and effective operation of investment-related transactions, including funding and withdrawal transfers
Stays current on industry practices, innovative investment ideas, investment managers and consultants
Maintains the Foundation’s status as a respected member of the investment community and one of the leading Foundations in BC

Benefits

generous health and dental coverage for employees, their spouses, and dependents
4 weeks’ annual vacation to start, and late December office closure
additional paid time off for Indigenous Leave for Ceremonial, Cultural, and Spiritual events and practice
family friendly workplace policies, parental leave top-ups, life insurance plan, and a workplace culture with an overarching emphasis on wellness and work life balance
RRSP contribution of 6% of salary without matching requirement
annual wellness spending account for each employee
generous care days (sick leave) entitlement
flexible work arrangements
relevant professional fees and memberships covered
training and professional development opportunities