Investment Manager (Job ID: 2021-2656)

Posted Date 2 weeks ago(7/19/2021 4:34 PM)
Program
Office of Financial Services
Job Function
Accounting/Finance
Job ID
2021-2656
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.

 

Please note: This position is based in Brookings' Washington, DC office. In response to COVID-19, Brookings staff are temporarily teleworking. The person hired for this position must be willing to move to or currently reside in Washington DC, Maryland, or Northern Virginia by their date of hire. 

Responsibilities

Ready to contribute to Brookings success?

 

The Investment Manager is an important contributor to the Office’s investment research and decision-making processes.  The primary responsibility is manager research and selection, including all aspects of prospective manager sourcing, due diligencing and proposing; all aspects of monitoring and maintaining relationships with existing managers; and on-going analyses of the investment market opportunity set and total portfolio risks and returns.  As a member of a small team, the Investment Manager additionally shares in routine tasks to monitor portfolio market values, oversee cash operations, and prepare analyses and reports for the Investment Committee.  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.
  • Conduct due diligence meetings via telephone, videoconference, and/or in-person, including off-site.
  • Maintain written documentation and update tracking reports, including the rationale for any changes in the Staff’s opinion of the manager.
  • Write formal manager and asset class evaluation reports, including re-investment and/or termination recommendation 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 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. Draft Investment Committee meeting minutes.

General Investment Office Operations (15%)

  • Participate in updating the current portfolio market value report weekly (or more frequently in volatile market environments).
  • Participate in monitoring and approving capital calls.
  • Keep constantly informed about status of portfolio performance and research in order to be able to back-up 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 five years of 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. 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 Bloomberg or any other investment research programs is preferred but not required.

 

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. Please note: if you have applied to more than one Brookings job opening you should add a position-specific cover letter as a separate attachment.

 

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

 

Brookings welcomes and celebrates diversity in all its forms.  We welcome applications that reflect a variety of backgrounds based on ideology, race, ethnicity, religion, gender, sexual orientation, gender identity or expression, disability, veteran status, first generation college goers, and other factors protected by law. Brookings is proud to be an equal-opportunity employer that is committed to promoting a diverse and inclusive workplace.

 

 

 

 

 

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