1974
Title:
Chief Investment Officer
Location:
Newport Beach,CA 92660
Date Added:
August 31, 2010
Salary Range:
$125,000.00 - $175,000.00
Bonus:
Chief Investment Officer
Employment Type:
Direct Hire
Job Details:
Well known family, is looking to fill the position of Vice-President of Investments. The V.P. of Investments reports directly to the President of The Family Office. The Family Office consists of three divisions within the family office: a real estate development division; an investment management division; and a foundation division.
The Vice President of Investments position carries a variety of responsibilities including portfolio management (manager of managers), operations, and data management. The person in this role needs be skilled in client service, staff management, investment manager due diligence and oversight, reporting, data integration, and Charitable Remainder Trust taxation and structure issues.
The investment structure for the family office consists of an Equity Limited Partnership which utilizes 9 equity managers; and the a Fixed Income Partnership which utilizes 8 fixed income managers including a combination of taxable and tax free. In addition, there are a minimal number of individual accounts, which require primarily cash management.
POSITION SUMMARY
? PORTFOLIO MANAGEMENT
o Select investment managers through extensive due diligence
o Provide ongoing oversight of existing managers, including performance and risk metrics
o Facilitate monthly investment committee meetings
o Develop working relationships with multiple custodians
? CLIENT SERVICE
o Conduct regular communication with clients to address current needs
o Assess client allocation and adjustments to risk profile
o Coordinate with CFO to address tax and estate issues for clients
? OPERATIONS AND DATA MANAGEMENT
o Manage staff providing back office support and handling account paperwork
o Manage portfolio management system and all daily downloads and custodial interfaces
o Manage quarterly reporting process and annual tax reporting
POSITION DETAIL
PORTFOLIO MANAGEMENT
As a portfolio manager, responsibilities include conducting initial and ongoing due diligence for equity and fixed income managers. Investment managers need to be monitored regularly and portfolios reviewed in terms of holdings, transactions, sector weights, top holdings, etc. Fees and expenses incurred also need to be reviewed and verified for accuracy. Performance for each investment manager needs to be assessed and risk metrics need to be calculated and evaluated.
The V.P. of Investments meets with each investment manager on a regular basis to understand current investment philosophy and investment decisions being made in current economic climate. Managers need to be continually evaluated based on performance, style, internal operations, and risk metrics. Recommendations are made to the investment committee regarding any changes in manager selection or new investment managers to be added to the portfolio.
The V.P. of Investments facilitates and directs monthly investment committee meetings with the President, CFO and The Foundation Executive Director. Agenda items include review of all managers’ performance, holdings, asset allocation, duration (for fixed income), risk metrics, as well as qualitative or quantitative changes experienced with any existing managers. An update is also provided on any client service issues or needs of clients. In addition, operational issues and solutions are presented to the committee.
The V.P. of Investments is also responsible for relationships with custodians and diversifying family assets among numerous custodians. Due diligence is conducted and safety of custody reviewed so that risk exposure is minimized with any one institution.
CLIENT SERVICE
The V.P. of Investments meets and talks with clients regularly to communicate market updates, portfolio status, asset allocation adjustments, and determine any issues of concern or need from the client/family member. Discussions regarding risk profile for each client and ongoing assessments are conducted to determine if client asset allocation needs to be adjusted in light of changing circumstances or risk profile.
The V.P. of Investments works closely with the CFO of to strategize over accounting, partnership, CRUT, and other tax related issues for the family members and portfolios. This position also coordinates with the Executive Director of the Foundation to determine cash flow needs and CRUT strategies best suited to the needs of the family members.
OPERATIONS AND DATA MANAGEMENT
The V.P. of Investments oversees a team of individuals handling all back office operations and data management. The V.P. of Investments provides clear direction to support staff to facilitate account openings and closings, wire transfers, other paperwork, correspondence, reporting, and data interfaces with custodians. The accounting for The Equity Partnership and The Fixed Income Partnership is closely monitored and managed for accuracy as data is entered into the portfolio management system, Portfolio Center. In addition, the process of daily downloads, reconciliations, security detail, transactions, performance data, etc., all are managed for accuracy. Priorities are set for support staff and directives given when multiple time sensitive issues occur together.
The V.P. of Investments actively manages the quarterly reporting process which is highly customized and manual. Data is integrated from various sources and reviewed for accuracy and completeness. Reporting in a timely manner is essential and the entire reporting process needs to be actively supervised.
The V.P. of Investments also supervises the reconciliation of all 1099s and K-1s so that a consolidated report is provided annually to the CPA of each family office client.
MISCELLANEOUS
The V.P. of Investments is responsible for attending family office conferences and staying current with family office issues and best practices.
In addition, the V.P. of Investments prepares a presentation for the annual meeting summarizing activities and performance of the prior year under the investment division.
Going forward, the V.P. of Investments may need to manage SEC compliance requirements depending on regulatory requirements for family offices or investment firms with pooled assets. Also, familiarity with integrated portfolio management and accounting systems will be beneficial as the family office requires a continual reassessment in order to determine the need for upgraded existing technology platforms.
Contact:
Justin Carey
Contact Phone:
310-593-3485
Contact Email:
jcarey@matthenrygroup.com