Organization

Carnegie Corporation of New York is a major private foundation established in 1911 by Andrew Carnegie “to promote the advancement and diffusion of knowledge and understanding.”  It provides grants of approximately $130 million per year to education, international peace and security, international development and strengthening U.S. democracy.  More information on the Corporation can be found on its website at www.carnegie.org. 

The Corporation’s assets are $2.6 billion as of September 30, 2011.  The investment portfolio is invested in a wide range of asset classes and strategies, with a significant allocation to alternative investments, including private equity, private real estate and absolute return, and also to emerging markets.  The portfolio is managed by a small team of investment professionals who work collaboratively.  Individuals have responsibility for specific asset classes but the investment staff works in teams on projects and investments and supports each other in the due diligence and decision making process.

Responsibilities

The Associate Director reports to the Vice Presidents and Co-Chief Investment Officers with one CIO identified as the primary resource/manager.  The Associate Director works closely with the entire investment and finance staff at the Corporation.  The Corporation seeks to hire an investment professional to help provide oversight for the marketable assets portfolio including global long-only equities; multi-strategy, event-driven, credit and long/short equity hedge funds; and fixed income.  Major responsibilities will include:

• Primary oversight of the emerging markets marketable assets portfolio, including emerging markets equities and emerging markets hedge funds, and alternative credit-related opportunities. The Associate Director will monitor existing managers and identify and evaluate new managers, using both quantitative and qualitative analysis.
• Secondary oversight of the developed markets marketable assets portfolio, including developed markets equities and developed markets hedge funds.  The individual will work closely with the investment professional with primary responsibility for emerging markets.  This includes working knowledge of the strengths and issues in the developed markets portfolio, familiarity with portfolio managers, and site visits and meetings related to this portfolio
• Close collaboration with the investment professional responsible for developed markets to determine portfolio construction for the marketable portfolio to effectively manage risk and return.
• Coordinating with the investment professional responsible for developed markets to oversee liquidity analysis and potential hedging opportunities.
• Staying abreast of capital markets conditions to pro-actively identify investment opportunities.
• Establishing and maintaining relationships with colleagues within the institutional investment community and among the investment manager community.
• Serving as a public representative of the Corporation.
• Performing portfolio analysis and research, including overseeing risk analysis and management efforts.
• Writing and presenting investment recommendations to the Corporation’s investment committee.
• Conducting special projects as needed.

Qualifications:

Leadership:

• 5 or more years of experience as a portfolio manager, a senior analyst with portfolio management responsibilities or a manager of managers at an endowment, foundation, fund of funds, pension fund, asset management or investment consulting firm;
• A fundamental passion for the investment process and an intellectual interest in the financial markets;
• Ability to source new and emerging investment managers through a strong existing network;
• A strong commitment to the Corporation’s mission;
• A collaborative work style and a willingness to perform a wide range of tasks;
• Ability to work independently as well as collaboratively;
• Unquestioned integrity and ethics.

Technical:

• Excellent analytical, writing and presentation skills used to inform CIOs, internal team and  Investment Management Committee
• Responsible for quantitative modeling including Monte Carlo simulations and portfolio exposure analysis
• General knowledge of financial principles, modern portfolio theory, asset allocation and portfolio strategies in traditional and alternative asset classes.

Education:

• MBA or CFA

Other:

• Ability to travel within the U.S. and internationally approximately 30%-40% of the time to conduct due diligence on managers and markets.

Candidates should submit a cover letter describing their specific interest in the position and a resume.  References will be checked.  Send or email information to:

hr(at)carnegie.org or

Human Resources Offices
Carnegie Corporation of New York
437 Madison Avenue
New York, NY 10022

No telephone inquiries, please
Carnegie Corporation of New York is an equal opportunity employer.
November 2011