• Investment Associate (Job ID: 2019-2184)

    Posted Date 2 months ago(9/19/2019 1:46 PM)
    Program
    Office of Financial Services
    Job Function
    Accounting/Finance
    Job ID
    2019-2184
    Salary
    Commensurate with experience
  • Overview

    Join one of the most influential, most quoted and most trusted think tanks!

    The Brookings Institution is a nonprofit public policy organization based in Washington, DC. Our mission is to conduct in-depth research that leads to new ideas for solving problems facing society at the local, national and global level.

     

    We bring together leading experts in government and academia from all over the world, rooted in open-minded inquiry and representing diverse points of view, who provide the highest quality research, policy recommendations, and analysis. Research topics cover a full range of public policy issues in economics, foreign policy, development, governance and metropolitan policy.

     

    With fair and transparent business practices, clear communication, mutual respect, and a collaborative atmosphere that offers both professional and personal development opportunities, Brookings offers an inclusive and welcoming workplace that values the efforts of all contributors.

     

    The Investment Office manages Brookings’ financial assets, particularly the long-term endowment funds originally established by Robert and Isabella Brookings and augmented since by other donors. Approximately 45 legally separate funds support both restricted and unrestricted operations. The funds are pooled into a single investment portfolio that is broadly diversified.

     

    Responsibilities

    Ready to contribute to Brookings success?

     

    The Investment Associate is an important contributor to the Office’s investment research and decision-making processes.  The primary responsibility is manager research, including prospective manager selection, existing manager monitoring, and on-going analysis of the investment market opportunity set.  As a member of a small team, the Associate shares in routine tasks to prepare Investment Committee materials, monitor portfolio market values, and oversee cash operations. Business travel required,10-20% of time.

     

    Existing Manager Monitoring (35%)

    • Maintain a thorough understanding of the investment and organizational activities of the existing external money managers. Maintain written documentation and update tracking reports of their activities.
    • Conduct due diligence meetings via phone and/or in person, including off-site.
    • Maintain portfolio tracking reports and written documentation, including the rationale for any changes in the Staff’s opinion of the manager.
    • Write formal manager and asset class evaluation memos. 

    Prospective Manager Due-Diligence (35%)

    • Contribute to and generate new manager ideas, including:
      • Developing and maintaining relationships with marketers and peers
      • Screening prospective managers for further research, including reviewing presentation materials and considering the manager’s fit in Brookings investment strategy
      • Scheduling due diligence meetings and responding appropriately to incoming meeting requests
    • Conduct further due diligence on prospective managers, including:
      • Collecting information about managers’ investment team, process and strategy, and constructing the data into useful records
      • Analyzing past performance
      • Planning and conducting meetings
      • Assessing research observations and conclusions
    • Define appropriate benchmarks and peer universes.
    • Compare and contrast managers’ investment strategies and organizations, including strengths and weaknesses.
    • Write new manager recommendation memos.       

    General Market Research & Portfolio Strategy (15%)

    • Maintain a thorough understanding of current investment markets.
    • Oversee preparation of regular performance report and any ad-hoc analyses by the outside consultant.
    • In collaboration with colleagues, discover, define and evaluate new investment opportunities and their fit in the portfolio.
    • Research and present analyses of the total portfolio performance and risk profile.
    • Attend and participate in Investment Committee meetings.

    General Investment Office Operations (15%)

    • Participate in updating the current portfolio market value report weekly.
    • Participate in monitoring and approving capital calls.
    • Keep constantly informed about status of portfolio performance and research in order to be able to backup the Chief Investment Officer (CIO) and other investment team members in their absence as needed.
    • Maintain strong and open internal communications.
    • Contribute actively in on-going team efforts to improve the efficiency of the investment process.
    • Perform any and all other duties and responsibilities of a similar nature and character those above, which may be assigned and/or directed.

    Qualifications

    Ready to make an impact? In this role, you will support Brookings values of collegiality, respect, inclusion, diversity and community, and bring the following qualifications:

     

    Education/Experience Requirements: 

     

    Bachelor’s degree with a minimum of three years of relevant work experience.   Knowledge of investment assets (e.g. stocks, bonds, property, commodities, cash) and markets. Knowledge of analytical methods for determining fair value and an investment’s merits. Knowledge of investment implementation methods, including types of fund vehicles (e.g. mutual funds, ETFs, private partnerships) and typical fund terms in both public and private asset classes.  Past experience conducting research, either in an academic or business setting, and then composing and presenting the research findings. Prior knowledge of a broad universe of investment managers is strongly preferred but not required. Demonstrated knowledge and interest in investment markets and methods is required.  Achievement of Level 1 of the Chartered Financial Analysts (CFA) designation is required. Completed CFA designation preferred. Must be authorized to work for any employer in the U.S.

     

    Knowledge/Skills Requirements: 

     

    Excellent communication skills, both in writing and verbally. Excellent skills in math and/or statistics, quantitative analysis, problem solving and general critical thinking.  Strong attention to detail and ability to take initiative.  Ability to represent the institution appropriately with outsiders.  Ability to travel both domestically and internationally 10-20% of the time each year.  Proficiency in Microsoft Office Suite.  Familiarity with FactSet, Bloomberg or any investment research programs is preferred. 

     

    Additional Information:

     

    What can we offer you? Brookings provides a generous benefit package that is comprehensive and includes both traditional benefits and unique offerings.

     

    Brookings requires that all applicants submit a cover letter and resume. Please attach your cover letter and resume as one document when you apply.

     

    Successful completion of a background investigation is required for employment at Brookings.

     

    Brookings is an equal-opportunity employer that is committed to promoting a diverse and inclusive workplace. We welcome applications from all qualified individuals regardless of race, color, national origin, gender, sexual orientation, age, religion, physical or mental disability, marital status, veteran status, or other factors protected by law.

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