Dignity Health one of the nations largest health care systems is a 22-state network of more than 9000 physicians 63000 employees and 400 care centers including hospitals urgent and occupational care imaging and surgery centers home health and primary care clinics. Headquartered in San Francisco Dignity Health is dedicated to providing compassionate high-quality and affordable patient-centered care with special attention to the poor and underserved. In FY17 Dignity Health provided $2.6 billion in charitable care and community services. For more information please visit our website at www.dignityhealth.org. You can also follow us on Twitter and Facebook.
Job Summary / Purpose
The CommonSpirit Health System Manager, Investments is responsible for identifying, sourcing, evaluating, selecting, and monitoring differentiated investment strategies and investment managers globally with increased responsibilities within the public equity asset class. The System Manager participates in sourcing, researching, presenting, discussing, and maintaining independent due diligence on investment managers. The System Manager also collaborates on framing and recommending asset class strategies, including portfolio construction as well as themes and/or tactical positioning taking into account the overall strategy and constraints for each pool of capital, working with more senior members of the investment team and the team broadly. As a member of the investment team, the System Manager is responsible for providing backup diligence, analysis, coverage, and investment opinions for select managers across asset classes as requested and appropriate.
- Manager Selection Source, identify, evaluate, recommend, and monitor investment managers in collaboration with the asset class head, with the objective of delivering diversified sources of portfolio alpha and strong risk-adjusted returns. Conduct and collaborate on periodic asset class and portfolio reviews and assess individual managers within an asset class, evaluate portfolio strategies, and help prioritize manager research efforts to continue to learn from experience, increase team understanding and engagement, and continuously strive for better performance. Help ensure thoughtful and cost-aware terms are negotiated with external investment managers and monitor agreed-upon financial arrangements.
- Asset Allocation Collaborate with more senior investment team members to help frame, evaluate, and recommend asset class strategies, taking into account the overall strategy and constraints for each pool of capital as well as broader portfolio attributes. Support and present asset class reviews, presentations, and own recommendations and analyses at regular internal investment committee meetings. Demonstrate, instill and help develop portfolio-level awareness and perspective within the investment team, in addition to asset class and manager expertise.
- Leadership Oversee, train, and mentor junior team members as requested. Help recruit, develop and retain first-rate investment talent and foster a team-oriented culture of intellectual curiosity, analytical rigor, and creativity. Develop and cultivate strong, positive working relationships with other members of the investment team. Prepare, discuss and engage on topics and managers as a thoughtful voting member of the Internal Investment Committee. Conduct research and analysis on a wide variety of evolving strategic investment topics and handle ad hoc projects, analyses, presentations and reports. Partner effectively with risk management on developing and utilizing tools to assist with asset class and manager analysis. Maintain and enhance CommonSpirit Healths reputation externally as a thoughtful, leading socially responsible investment program. Actively participate in related committees such as the Defined Contributions Plans Investment Committee, as requested. Collaborate with other team members to develop portfolio analytics, attribution analyses, risk management and performance measurement as needed.
- Communication Review and lead discussion on managers and strategies. Document, present, discuss, and evaluate investment ideas, research, recommendations, and opinions on managers and asset classes as a collaborative team member. Maintain knowledge of notable manager-related issues and topics as well as current events and trends affecting markets and the economy, and engage with investment team on implications for investment performance and strategy. Communicate and partner effectively with the CIO and SVP, Treasury & Investments including on a mix of strategic and tactical issues. Prepare materials and present on an asset class and/or other investment topics as requested to the BOST Investment Committee. Serve as a voting member of the decision-making internal Investment Committee for manger decisions across asset classes.
Required Education and Experience
- Minimum 5+ years related experience in an investment management firm, outsourced CIO firm, large nonprofit (e.g. healthcare, endowment, foundation), corporate/public pension fund or family office, with substantial experience in evaluating external investment managers, including quantitative and qualitative analysis and experience drafting thoughtful and detailed investment recommendations.
- Significant direct investment and due diligence experience in one or more specific asset classes with decision-making responsibility required.
- Advanced skills in Google suite preferred.
- Bachelors degree. Graduate degree and/or CFA preferred.
Required Minimum Knowledge, Skills, Abilities and TrainingProven capacity to work with and understand the investing dynamics at investment managers; strong interest in, and knowledge of, finance. Has passion for investing and an ability and willingness to work across asset classes.Facile ability to evaluate and synthesize quantitative and qualitative data, including ability to build and maintain complex financial and forecasting models as well as deep statistical analysis capability.Substantial experience analyzing and investing in relevant asset structures and strategies, as well as an understanding of asset allocation strategies in specific asset classes. High ethical and professional standards including a genuine interest in the values of CommonSpirit Health and in socially responsible, ESG, and impact investing.Deep intellectual curiosity and critical reasoning skills with sound judgement and capacity to ask insightful questions.Motivated self-starter and problem-solver with a demonstrated track record of producing high quality deliverables on tight deadlines. Collegial and collaborative attitude; able to work effectively in a diverse team and in a team-oriented culture. Clear ability and willingness to juggle multiple tasks, respond to changing priorities, and contribute to areas beyond the direct scope of responsibilities. Strong interpersonal, verbal, and written communication skills.Meticulous attention to detail and superior organizational skills.Robust understanding of appropriate fiduciary controls, compliance and internal controls, and oversight.Deep knowledge and understanding of the role of risk, uncertainty, and probabilities in investing and portfolio construction.