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Jobs @ UVIMCO

Managing Director of Asset Allocation, Risk Management and Research


The University of Virginia Investment Management Company (UVIMCO) seeks a Managing Director of Asset Allocation, Risk Management and Research (MD) to join our investment team managing assets on behalf of the University of Virginia and affiliated entities.

As of December 2016, UVIMCO managed $8 billion of endowment and other long-term assets within a unitized Long Term Pool. UVIMCO has one of the highest levels of investment performance of any public or private educational institution in the country, achieving a long-term rate of return that compares favorably with benchmarks and peer institutions.

UVIMCO currently employs approximately 40 full-time staff. The investment team monitors and evaluates the full spectrum of global investment strategies seeking opportunities to employ active external managers. This team includes the CEO/CIO, six managing directors, and a number of investment analysts, associates and senior associates. Biographical sketches and additional information about UVIMCO may be found on our website.

UVIMCO’s Long Term Pool is allocated as follows:

• 25% public equity

• 21% long/short equity

• 16% private equity (venture and non-venture)

• 6% real estate

• 6% resources

• 14% marketable alternatives & credit

• 12% government bonds and cash


Position Overview

The MD will report to the CEO/CIO, Larry Kochard, and will lead a small team consisting of an investment associate and analyst. A successful candidate will be an experienced generalist with deep knowledge of all areas of alternative investing. Successful candidates will also be collaborative, creative, intellectually curious and passionate about investing. The position has three primary functions:

1. Supporting the CEO/CIO in the management of the asset allocation and risk of the overall portfolio. Working with the CEO/CIO and other staff, the MD will help develop the firm’s global macroeconomic outlook that ultimately forms the foundation for strategic and tactical asset allocation decisions and portfolio action items. Themes may be implemented by hiring external active managers (working with other senior team members) or using derivatives or other financial instruments.

2. Leading the risk management function of UVIMCO and providing regular reporting and rigorous analytical support to the Risk Committee. UVIMCO maintains a comprehensive risk management framework and process, and the Risk Committee is responsible for the risk management of the Long Term Pool. The MD will apply a high degree of technical acumen to the firm’s investment practice and general investment concepts such as asset allocation, portfolio construction, risk budgeting, derivatives usage and implementation, trading, and risk management. Specifically, the MD will help measure and manage market, liquidity and manager risks, and assess the risk tolerance of the university.

3. Directing research efforts to ensure identification and adoption of best practices in the risk measurement and portfolio management of alternative investments. The MD will also provide analytical research support to the rest of the team as they assess new opportunities and existing portfolio positions. The MD will adopt a consultative approach with the firm’s CEO/CIO and investment staff to develop and execute investment strategies across the portfolio.


Primary Responsibilities:

• Participate in all aspects of UVIMCO’s investment decision-making process;

• Work collaboratively with the team to help generate attractive long-term real returns for the Long Term Pool while remaining within the risk tolerance of the University;

• Monitor global investment markets with a view toward developing and researching investment themes that will add value to long-term real returns;

• Provide critical input to the development of strategic and tactical investment policies, asset allocation, expected returns, and liquidity parameters;

• Contribute to active returns through strategic portfolio positioning and management of thematic derivative overlays;

• Lead research efforts to provide thought leadership in the endowment and foundation industry and support the intellectual curiosity of UVIMCO’s investment staff;

• Lead all risk reporting efforts and larger risk projects;

• Serve as a member of UVIMCO's Investment Committee and Risk Committee;

• Recruit, supervise and develop investment associates and analysts;

• Prepare investment reports and recommendations for the UVIMCO team and board; and

• Make presentations to the UVIMCO Board of Directors and members of the broader University of Virginia community.


Skills and Qualifications

The ideal candidate will possess:

• Superior communication and interpersonal skills, including the ability to work closely with an experienced and dedicated investment team. Outstanding writing ability is extremely important.

• Extensive knowledge of asset allocation and portfolio construction techniques;

• Superior quantitative skills and experience, but tempered with a “healthy skepticism” of overly quantitative solutions;

• A knack for integrating “top down” and “bottom up” perspectives into specific investment recommendations,

• A broad and deep understanding of global investment markets, and an insatiable interest in the same;

• Demonstrated experience of adding value to an investment portfolio through changes in asset allocation, portfolio construction, and/or designing and implementing derivative overlay strategies;

• An ability to integrate quantitative and qualitative factors; and

• Entrepreneurial work habits and consistent attention to detail.


The ideal candidate will also demonstrate a strong appreciation for working within a university community. An undergraduate degree is required. CFA/graduate degree in an applicable field and affinity for the University of Virginia or the Charlottesville, VA area are preferred.

Application Process

Interested candidates should apply by submitting a confidential resume and cover letter through the link below.



Apply


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Investment Associate


The University of Virginia Investment Management Company (UVIMCO) seeks an Investment Associate to join our investment team managing more than $7.5 billion of assets on behalf of the University of Virginia and affiliated entities.

Position Overview


The Investment Associate position is a unique opportunity to work directly with senior management in a small, flat investment organization that has generated strong long-term returns for its constituents. UVIMCO’s portfolio is invested globally across a broad range of asset classes and strategies, including public equity, hedge funds, private equity, venture capital, real estate, resources, credit, fixed income and derivatives. The primary responsibilities of the Investment Associate include:

• Work as an integral member of the investment team to research investment themes and conduct external manager due diligence. Prepare and present investment recommendations alongside senior staff.

• Source and track new opportunities with external investment managers.

• Analyze and monitor existing portfolio holdings. Assess current opportunities and risks of various investment strategies across public and private markets.

• Train and mentor junior staff members.

• Develop market commentaries and presentation materials for various constituents.

• Complete special projects as directed by senior management.

Position Requirements

• Undergraduate degree and excellent academic credentials. Degree in finance, economics, math or engineering disciplines.

• 2-5 years of professional, related investment work experience. Investment management or capital markets experience, with background in public equity, fixed income, credit or derivatives strongly preferred.

• Outstanding analytical and communication skills (written and verbal)

• Motivated, self-starter with a strong work ethic

• Demonstrated passion for investing and investment markets

• Affinity for UVA or Charlottesville area a plus


Employment Benefits

UVIMCO offers a competitive base salary, excellent benefits, and bonus opportunities in a business casual work setting in Charlottesville, VA.

Apply


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Investment Analyst


The University of Virginia Investment Management Company (UVIMCO) seeks an Investment Analyst to join our investment team managing more than $7.5 billion of assets on behalf of the University of Virginia and affiliated entities.

Position Overview


The Analyst position is a unique opportunity to join the investment team of a small, flat organization that has generated strong long-term returns for its constituents. UVIMCO’s portfolio is invested globally across a broad range of asset classes and strategies, including: public equity, hedge funds, private equity, venture capital, real estate, resources, credit, fixed income, and derivatives.

UVIMCO’s Investment Analyst program is 2 years in length and provides exposure to the full breadth of asset classes and strategies in UVIMCO’s global opportunity set. Analysts play an integral role on our investment team and gain intensive training in core investment management skills, while learning to combine analytical ability with experience and judgment. Additionally, UVIMCO sponsors each Analyst to complete the CFA designation during his or her time in the program.

Investment Analysts work directly with UVIMCO investment team and senior management to select specific investments in public equity, private equity, hedge funds, real estate and resources. In this role, Investment Analysts learn how to evaluate both individual investment transactions and broader market opportunities, while also gaining exposure to some of the top investment management firms in the world as they invest capital on behalf of the University. Investment Analysts participate in the due diligence and monitoring of the external investment firms through which UVIMCO’s strategies are generally implemented, and conduct research on various companies, properties, and industries within both developed and emerging markets.

Position Requirements

UVIMCO seeks candidates with a strong interest in investment management, excellent academic credentials, and knowledge of basic financial concepts. Prospective Analysts must be detail-oriented and possess a high level of professionalism and integrity.

Employment Benefits

UVIMCO offers a competitive base salary, excellent benefits, and bonus opportunities in a business casual work setting in Charlottesville, VA.

Application Process

In addition to a résumé, interested candidates must provide a cover letter explaining why they are interested in working at UVIMCO and in the field of investment management.

Apply


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