Managing Director, Investments at The Law Foundation of BC — NeverHard

Job DescriptionJob Description:\n\nSalary: $161,686 to $206,599 annual salary POSITION TYPE: Full Time (35 hours per week), permanent. Some weekends and evenings will be required a few times during the year as it relates to committee and Board meetings. REPORTS TO (TITLE):Director of Finance LOCATION: The Foundation is a remote workplace and the majority of work performed in this role may be done from home or the Foundations office in downtown Vancouver. Please note, however, this role is expected to meet regularly, in person, with financial professionals in downtown Vancouver, and any candidate residing outside of the Lower Mainland would require regular travel to Vancouver. OFFICE ACCESSIBILITY:Our office is located on the 15th floor of a building with elevator access. Washrooms are gender neutral. The office has a dedicated Privacy room that is bookable and can be used for rest, sensory reduction, prayer, nursing, or other needs. SALARY: $161,686 to $206,599 annual salary based on experience (we expect someone new to the Foundation to start at the lower end of this range) ABOUT THE LAW FOUNDATION OF BC The Law Foundation of British Columbia (the Foundation) invests in work that empowers people and strengthens communities, aimed at creating a future where systems of law and justice support all people to live and thrive in dignity. The Foundation makes grants using funds arising from the interest paid on lawyers pooled trust accounts and other sources. Through its funding, the Foundation supports many programs and services that seek to promote justice for people at both an individual and systemic level. This includes funding to support a network of civil legal aid services for low income people, to provide legal research and education, and to support public access to legal information, to name a few. Working at the Foundation means joining a team of passionate, hard-working professionals. We are committed to building and supporting an inclusive and respectful working environment, where all employees are valued for their contributions to our mission, and feel a sense of safety, dignity, and belonging. We offer a comprehensive benefits program, which includes:generous health and dental coverage for employees, their spouses, and dependents4 weeks annual vacation to start, and late December office closureadditional paid time off for Indigenous Leave for Ceremonial, Cultural, and Spiritual events and practicefamily friendly workplace policies, parental leave top-ups, life insurance plan, and a workplace culture with an overarching emphasis on wellness and work life balanceRRSP contribution of 6% of salary without matching requirementannual wellness spending account for each employeegenerous care days (sick leave) entitlementflexible work arrangementsrelevant professional fees and memberships coveredtraining and professional development opportunities In its hiring practices, the Foundation strongly encourages applications from members of communities that are marginalized or that experience structural discrimination. This includes those who are Indigenous, racialized, members of non-dominant ethnic, religious, linguistic or cultural groups, newcomers, people with disabilities, and 2SLGBTQIA+ people. The Foundation believes that a workforce that represents the diversity of the communities we serve strengthens our ability to achieve our mission. The Foundations main office is located in Vancouver on the shared lands of the Musqueam, Squamish and Tsleil-Waututh Nations, and conducts its work throughout the homelands of Indigenous peoples across the place we now call British Columbia. The Law Foundation of BC is committed to supporting a just and meaningful reconciliation between Indigenous peoples and others in these lands. ABOUT THE ROLE TheManagingDirector, Investmentsis akeymember oftheFoundationsFinanceteamwhich supportsthelarger organizationto create, amplify,and support innovative solutions to difficult access to justice challenges and systemic inequities that affect the well-being of diverse communities in British Columbia. Reporting totheDirectorof Finance, theManagingDirector, Investmentsplays a critical role within the Foundation, providing direction and leadership for our investment strategy.This role will work closely with the FoundationsInvestmentsSubcommittee,Boardof Governors, Executive Director, and Director of Financein the developmentand executionofthe Foundationsinvestment strategies, policies, and procedures. This position is also responsible for risk management, monitoring the performance of investment managers, collaborating with the Director of Finance on strategy, performing detailed analysis and preparing comprehensive reporting, and ensuring a rigorous investments governance and compliance environment is maintained. This role provides independent, expert investment leadership to the Senior Leadership Team and Board, strengthening investments governance and ensuring the Foundation meets its fiduciary obligations. The Foundation is at an exciting moment in our history, as we are midway through our 2023-2028 Strategic Plan. We actively pursue structural and operational change to respond to the new challenges we face. While the implementation of strategic priorities is an all-of-Foundation endeavour, it is intended that this position advances the Foundations mission through the strategic plan's focus area of Building a Thriving Foundation, which aims to provide the Foundation with strong infrastructure and resources to serve our mandate. KEY RESPONSIBILITIES Strategy,Policyand Procedure Develops and executes investment policy, strategy, and procedures tooptimizereturns at risk levelsappropriate forthe FoundationWorks closely with the Director of Finance to ensure investment strategy,policy, and asset allocationalign with the Foundations financial outlook and liquidity needsIntegrates the Foundations values into investment strategy, policy, and decisionsBrings forward innovative investment topics and ideas for discussion with Governors and members of the Senior Leadership TeamIdentifiesand sources investment opportunities and products that support the Foundations investment and missionobjectives, including responsible investing goalsStewards the Foundations mission and vision by clearly articulating the value of the Foundations work to investment managers and other external partiesAnalyzes risk,return, and asset mixat the portfolio and manager levelIdentifiesemerging risks and performs stress testingunder various scenariosOversees the annual review of the Foundations Investment PolicyContinually developsand appliesthe Foundations Responsible Investing PhilosophyOversees periodic asset mix reviews, working in close collaboration with the Investment AdvisorCollaborates withtheDirector of Financein the selection ofdeposit products such as GICs,term deposits, and interest-bearing savings accounts, and in developing Treasury strategy and policy that best serves the Foundations investmentobjectivesand operational needsProvides insight intointerest rate outlookandcapital market trends,proactively communicating implications for the Foundations strategyCollaborates with other law foundations to share learnings and best practices, and maintain a sound understanding of the investment landscape across Canada Governance and Reporting Maintains and executes a stronginvestmentsgovernance framework to ensure the responsible management of the Foundations investmentsin accordance withprofessional standardsand fiduciary obligationsMaintainsthe Foundations reputation by supporting a positive, inclusive, and reciprocal culture, both internally and in relationships with investment managers and advisorsOrganizes the Investments Subcommittee meetings, including preparing the agendas and owning responsibility for reporting to committee membersPreparesclear, decision-focusedperformance and compliancereporting for the Investments SubcommitteeWorks closely and collaboratively withother members of the Finance team to develop,maintain, and presentfinancial reportingrelated to investmentsDelivers presentations regarding the Foundations investments to the Board, Finance and Operations Committee, Investments Subcommittee, and Senior Leadership Team as applicable Performance and Compliance In collaboration with the external Investment Advisor:Oversees totalportfolio performance across all asset classesHolds primary responsibility for oversight ofinvestment managersEstablishesand monitors portfolio risk andperformance metricsGathers, assesses the completeness of, and analyzes all periodic reporting from investment managersAssesses the performanceof investment managers, both in terms of risk/return andregardingresponsible investingobjectives,ensuringperformance meets or exceeds investmentobjectivesoverthe long termEnsures compliance withall applicablelegal, regulatory,professionaland fiduciary standardsMonitors manager activity for adherence to guidelines, constraints, contract terms, investmentphilosophyand stated risk toleranceSolicits feedback from theInvestmentsSubcommitteein the assessment of investment performance and making decisions in response to performance findingsLeadsinvestmentmanagerselection, onboarding, and termination processesConducts due diligence and review, and makes recommendationsregardinginvestment managerselectionAnalyzes investment management fees and negotiates rates and fee structures with investment managersAssists Finance team members with gathering information forperiodicaccounting transactions, investment reconciliations, and audit documentation Leadership and Management In partnership with the Director of Finance, Director of Communications,and Manager of Trust Accounting,maintainsexcellent working relationships with investment managers and other financial institution contacts, including through regular in-person meetings and attendance at eventsMaintains a close working relationship with the Foundationsinvestmentadvisors to ensuresound oversight of the Foundations investmentsCollaborates closely with the Director of Finance,Controller, and/orManager of Trust Accountingon cross-functional strategy,policyand procedure, including the management of financial institution relationshipsWorks closely withother members oftheFinance team to ensure the efficient and effective operation of investment-related transactions, includingfunding and withdrawal transfersStays current on industry practices, innovative investment ideas, investmentmanagersand consultantsMaintains the Foundations status as a respected member of the investment community and one of the leading Foundations in BC ABOUT YOU TheManaging Director,Investmentsmust have a combination of the following (or equivalent) education and experience: Senior leadership experience in directing complex decisionsrelatedtolarge ($200M+) multi-asset class portfolios10+ years ofinstitutional investment experience,ideally in endowment/foundation models, pension funds, and/or asset managementCFA orequivalent experience andeducationStrong understanding ofportfolio construction, risk management frameworks, andprivate and public marketsStrong understanding ofresponsible investingprinciples and how investmentprofessionalsmeasure, manage and integrate ESGand other responsible investingfactors within theirstrategy andprocessesFamiliarity with the impact-investment landscape in CanadaExperience overseeing both the strategic and operational aspects of managing one or more investment portfoliosExperience with progressive management and leadership at a senior organizational levelExperience collaborating with external service providers, including custodians,consultantsand investment managersStrong quantitative analysis skillsStrongunderstanding ofinvestment-related risk managementExperience working with Boards and Investment Committees TheManaging Director,Investmentswouldbenefitfrom the following skills,abilitiesand attributes: Strong commitment to the Law Foundations vision, mission,and valuesAdvances the Foundations anti-racist, intersectional mission for justice, equity,diversityand inclusionDemonstrates intercultural competency, cultural humility, and experience affirming rights of marginalized groups (e.g., Indigenous peoples, 2SLGBTQIA+, persons with disabilities, ethnic/religious/linguistic minorities,and/orwomen and children).Demonstratesgood judgment and strong ethicsStrong teamleadership and networking capabilitiesAdvancedMS Excel skills and the ability to calculate rates of return and generate portfolio analytics, including performance and risk/return statisticsExcellent written and oral communication skills, especially the ability to explain ones views clearlyHighly capable of collaboratively developing and executing on strategy with other senior leadersIndependent; willing and able to challengeexternal investment managers and internal assumptionsExcellent and sensitive interpersonal skills, including an ability to listen to others and learn from their best ideas, share best practices and experiences,and contribute to a learning environmentCommitment to creating and reinforcing a transparent, accountable, mutuallyrespectfulcollaborativework environmentAbility to manage own workload,recognizing both the reality of external events beyond our control and the Foundations desire and commitment to fostering a heathy workplace which supports employees with a range of family structures and personal commitmentsAbility to understand and navigate applicable regulatory requirements WORK CONDITIONS Primarily work remotely from home, but ability to be on-site at the Foundations office or other locations for team meetings and gatherings. APPLICATION PROCESS Please submit the following through this application portal: Resume (upload as PDF)Cover letter (upload as PDF)Three references who can speak to your skills and experience (the experiences may be paid or unpaid). Please enter these directly into the provided fields in the portal. The Foundation may request that a candidate provide supplemental references if required. We will not contact these references without providing you notice, and not until a later stage of the hiring process. Interviews will be conducted by three to four Foundation staff by video. The Foundation typically uses MS Teams and could also set up interviews on other video platforms like Zoom. The Foundation will make appropriate accommodations, if needed, for candidates that we interview. Candidates need not disclose their reasons for accommodation requests. To support candidate considerations around accommodations, here are some examples of past accommodations that the Foundation has provided: Extending interview times for candidatesPlanned breaks during the interviewSupporting candidates using assistive technologies to reference or take notes during the interview The Foundation provides interview questions 48 hours in advance of scheduled intervie