Managing Director, Investments

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: $161686 to $206599 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 dependents
• 4 weeks annual vacation to start and late December office closure
• additional paid time off for Indigenous Leave for Ceremonial Cultural and Spiritual events and practice
• family friendly workplace policies parental leave top-ups life insurance plan and a workplace culture with an overarching emphasis on wellness and work life balance
• RRSP contribution of 6% of salary without matching requirement
• annual wellness spending account for each employee
• generous care days (sick leave) entitlement
• flexible work arrangements
• relevant professional fees and memberships covered
• training 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 amplifyand 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 role will work closely with the FoundationsInvestmentsSubcommitteeBoardof 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 plans focus area of Building a Thriving Foundation which aims to provide the Foundation with strong infrastructure and resources to serve our mandate.

KEY RESPONSIBILITIES

StrategyPolicyand Procedure

• Develops and executes investment policy strategy and procedures tooptimizereturns at risk levelsappropriate forthe Foundation
• Works closely with the Director of Finance to ensure investment strategypolicy and asset allocationalign with the Foundations financial outlook and liquidity needs
• Integrates the Foundations values into investment strategy policy and decisions
• Brings forward innovative investment topics and ideas for discussion with Governors and members of the Senior Leadership Team
• Identifiesand sources investment opportunities and products that support the Foundations investment and missionobjectives including responsible investing goals
• Stewards the Foundations mission and vision by clearly articulating the value of the Foundations work to investment managers and other external parties
• Analyzes riskreturn and asset mixat the portfolio and manager level
• Identifiesemerging risks and performs stress testingunder various scenarios
• Oversees the annual review of the Foundations Investment Policy
• Continually developsand appliesthe Foundations Responsible Investing Philosophy
• Oversees periodic asset mix reviews working in close collaboration with the Investment Advisor
• Collaborates withtheDirector of Financein the selection ofdeposit products such as GICsterm deposits and interest-bearing savings accounts and in developing Treasury strategy and policy that best serves the Foundations investmentobjectivesand operational needs
• Provides insight intointerest rate outlookandcapital market trendsproactively communicating implications for the Foundations strategy
• Collaborates 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 obligations
• Maintainsthe Foundations reputation by supporting a positive inclusive and reciprocal culture both internally and in relationships with investment managers and advisors
• Organizes the Investments Subcommittee meetings including preparing the agendas and owning responsibility for reporting to committee members
• Preparesclear decision-focusedperformance and compliancereporting for the Investments Subcommittee
• Works closely and collaboratively withother members of the Finance team to developmaintain and presentfinancial reportingrelated to investments
• Delivers 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 classes
• Holds primary responsibility for oversight ofinvestment managers
• Establishesand monitors portfolio risk andperformance metrics
• Gathers assesses the completeness of and analyzes all periodic reporting from investment managers
• Assesses the performanceof investment managers both in terms of risk/return andregardingresponsible investingobjectivesensuringperformance meets or exceeds investmentobjectivesoverthe long term
• Ensures compliance withall applicablelegal regulatoryprofessionaland fiduciary standards
• Monitors manager activity for adherence to guidelines constraints contract terms investmentphilosophyand stated risk tolerance
• Solicits feedback from theInvestmentsSubcommitteein the assessment of investment performance and making decisions in response to performance findings
• Leadsinvestmentmanagerselection onboarding and termination processes
• Conducts due diligence and review and makes recommendationsregardinginvestment managerselection
• Analyzes investment management fees and negotiates rates and fee structures with investment managers
• Assists 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 Communicationsand Manager of Trust Accountingmaintainsexcellent working relationships with investment managers and other financial institution contacts including through regular in-person meetings and attendance at events
• Maintains a close working relationship with the Foundationsinvestmentadvisors to ensuresound oversight of the Foundations investments
• Collaborates closely with the Director of FinanceController and/orManager of Trust Accountingon cross-functional strategypolicyand procedure including the management of financial institution relationships
• Works closely withother members oftheFinance team to ensure the efficient and effective operation of investment-related transactions includingfunding and withdrawal transfers
• Stays current on industry practices innovative investment ideas investmentmanagersand consultants
• Maintains the Foundations status as a respected member of the investment community and one of the leading Foundations in BC

ABOUT YOU

TheManaging DirectorInvestmentsmust have a combination of the following (or equivalent) education and experience:

• Senior leadership experience in directing complex decisionsrelatedtolarge ($200M) multi-asset class portfolios
• 10 years ofinstitutional investment experienceideally in endowment/foundation models pension funds and/or asset management
• CFA orequivalent experience andeducation
• Strong understanding ofportfolio construction risk management frameworks andprivate and public markets
• Strong understanding ofresponsible investingprinciples and how investmentprofessionalsmeasure manage and integrate ESGand other responsible investingfactors within theirstrategy andprocesses
• Familiarity with the impact-investment landscape in Canada
• Experience overseeing both the strategic and operational aspects of managing one or more investment portfolios
• Experience with progressive management and leadership at a senior organizational level
• Experience collaborating with external service providers including custodiansconsultantsand investment managers
• Strong quantitative analysis skills
• Strongunderstanding ofinvestment-related risk management
• Experience working with Boards and Investment Committees

TheManaging DirectorInvestmentswouldbenefitfrom the following skillsabilitiesand attributes:

• Strong commitment to the Law Foundations vision missionand values
• Advances the Foundations anti-racist intersectional mission for justice equitydiversityand inclusion
• Demonstrates intercultural competency cultural humility and experience affirming rights of marginalized groups (e.g. Indigenous peoples 2SLGBTQIA persons with disabilities ethnic/religious/linguistic minoritiesand/orwomen and children).
• Demonstratesgood judgment and strong ethics
• Strong teamleadership and networking capabilities
• AdvancedMS Excel skills and the ability to calculate rates of return and generate portfolio analytics including performance and risk/return statistics
• Excellent written and oral communication skills especially the ability to explain ones views clearly
• Highly capable of collaboratively developing and executing on strategy with other senior leaders
• Independent; willing and able to challengeexternal investment managers and internal assumptions
• Excellent and sensitive interpersonal skills including an ability to listen to others and learn from their best ideas share best practices and experiencesand contribute to a learning environment
• Commitment to creating and reinforcing a transparent accountable mutuallyrespectfulcollaborativework environment
• Ability to manage own workloadrecognizing 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 commitments
• Ability 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 candidates
• Planned breaks during the interview
• Supporting candidates using assistive technologies to reference or take notes during the interview

The Foundation provides interview questions 48 hours in advance of scheduled interview times by email so that candidates may prepare in a manner that suits them. For each interview conducted by the Foundation candidates are compensated for one hour of preparation time and one hour spent in an interview at a rate of $120 per hour. Compensation is sent by way of e-transfer.

We will review applications on a rolling basis so we encourage you to apply early. This position will remain open until filled.

By submitting your application you certify that all information submitted is true complete and correct. Any information provided in your application any assessment documents or processes and/or an interview that is found to be false or misrepresented in any respect may eliminate you from further consideration for employment or may result in dismissal.

If you are interested in applying and have questions about the process please contact Shelby Van Alstyne at.

Required Experience:

Director

Employment Type : Full-Time
Experience: years
Vacancy: 1
Yearly Salary Salary: 161686 - 206599