Vice President and Chief Investment Officer
MacAthur Foundation, Chicago, IL, United States
The Vice President and Chief Investment Officer (VP/CIO) is responsible for overseeing the management of the Foundation's $8.7B investment portfolio through the leadership of the Investment Department’s 17-person investment team. The incoming leader will embody the core values of the Foundation and promote those values through their work.
A primary responsibility of the VP/CIO is to develop and recommend an overarching investment policy, asset allocation, and strategy to the Investment Committee for approval. Once approved, the VP/CIO oversees the implementation, modifications, and ongoing management of the strategy, primarily through the selection and oversight of external investment managers. Additionally, the VP/CIO ensures the integration of ESG (Environmental, Social, and Governance) principles and manager diversity within the portfolio. The VP/CIO maintains regular engagement with the Investment Committee and ensures the timely and accurate reporting of investment performance to both the Committee and the Board.
As a senior officer, the VP/CIO reports to the President and collaborates closely with other senior officers of the Foundation including the investment committee. The VP/CIO may also engage in ad-hoc responsibilities as engaged and defined by the President.
Essential Duties and Responsibilities:
- Direct the oversight of investment and management of the Foundation’s assets.
- Formulate and recommend to the investment committee an overall investment strategy and long-term investment portfolio for the investment, management and allocation of the Foundation’s assets.
- Evaluate and screen potential external investment managers and recommend qualified managers for retention and approval.
- Oversee internal controls and conduct regular risk assessments of investment activities, implementing changes as necessary to mitigate risks.
- Conduct ad-hoc analyses as requested by the President, Investment Committee, or other stakeholders.
- Stay informed on investment trends, regulatory developments, and potential risks to proactively address emerging issues.
- Lead and develop the investment team, ensuring alignment with department objectives and fostering a high-performance and mission-aligned culture.
- Direct the maintenance of the Foundation’s financial records and principal financial accounts, ensuring accuracy and compliance with applicable standards.
The Chief Investment Officer will be a proven leader with the ability to influence stakeholder groups in the strategic positioning of an investment portfolio intended to meet organizational objectives. This individual will leverage a combination of communication and analytical skills, together with a technical grounding in modern portfolio theory to direct a scaled cross-asset class investment capability on behalf of the Foundation. A deep appreciation of risk and reward implications involved in making investments in each strategy is required.
Qualifications:
- 15 years’ experience in investing and other related fields including at least 10 years of deep leadership, supervisory, and management experience.
- Demonstrated track record of producing strong, risk-adjusted returns and managing large portfolios with the ability to align the endowment with the MacArthur Foundation mission.
- Unquestioned ethics and integrity; this person will be well respected within the investment community, not only for his/her technical skills, but also for his/her credibility and high standards of professional conduct.
- Proven leadership skills with an ability to inspire staff while dealing with multiple constituencies; must be committed to a collaborative process, while exhibiting determination to drive an agenda needed to attain high performance.
- Exceptional interpersonal, written and verbal communication skills; with the confidence and maturity to articulate complex investment issues to an audience with varying levels of investment expertise.
- Excellent diplomatic, meeting facilitation, negotiation, and conflict resolution skills.
- A technical understanding of derivatives and overlay strategies, including their role in managing risk, enhancing portfolio returns, and optimizing asset allocation.
- Master’s degree, CFA or other advanced degrees in a relevant field strongly preferred.
Annual salary for this role will start at $750,000 plus incentive bonus eligibility.
The position is hybrid and based in Chicago, Illinois.
Physical Requirements and Work Environment:
The work environment is an office setting. Intermittent physical activities will include bending, reaching, sitting, and moving around the office during working hours. Reasonable accommodations may be made to enable a person with physical disabilities to perform the job.
To Apply:
Heidrick & Struggles has been exclusively retained for this engagement. To express interest in this role please submit your materials via email to macarthurfoundation@heidrick.com Subject: MacArthur Foundation.