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Investment Associate


Department Description: We are seeking a talented Investment Associate to join our CareGroup Investment Management Office! The CareGroup Investment Management Office manages the assets of two primary entities - CareGroup and the Combined Jewish Philanthropies. Total assets managed are just under $3 billion.

If interested, please apply and include a cover letter with your resume answering these following questions:
• At the end of 2007, Ted Seides bet Warren Buffett that a group of hedge funds selected by Seides would outperform an S&P 500 Index Fund over the next 10 years . Seides famously lost that bet. If the same bet were made for the next 10 years, which side would you select, and why? (In less than 300 words)
• Describe an important insight that you gained from something that you read, and how you incorporated this insight into your professional life. (In less than 300 words)

Job Location: Boston, MA

Req ID: 28988BR


Job Summary: Participates in the evaluation of existing and potential new investment managers for all asset classes through portfolio analysis and manager meetings; prepares reports and supporting analysis for recommendations to the Board of Managers. Maintains database of key information for current and existing managers and a comments-sharing database for relevant manager updates.

Essential Responsibilities:
  1. Interviews existing managers; collects and analyzes data on net and gross exposures, derivatives, sector and geographical exposure.
  2. Interviews potential managers and prepares overview and preliminary recommendations for the Chief Investment Officer and the Board of Managers.
  3. Maintains an investment database on new and existing managers that is updated quarterly to reflect portfolio changes.
  4. Reviews public filings by the investment managers.
  5. Produces monthly and quarterly reports for the Chief Investment Officer and the Board of Managers on portfolio beta, stock overlap, capitalization weighting, etc.
Required Qualifications:
  1. Bachelor's degree required.
  2. 1-3 years related work experience required in Endowment management, funds-of-funds, or investment consulting..
  3. Knowledge of financial mathematics, modern portfolio theory, and asset allocation strategy.
  4. Strong understanding of financial markets, company capital structure and financial instruments including options, interest rates, swaps, credit default swaps, leverage, etc. Strong capability in data gathering, organization and analysis.
  5. Ability to work independently and collaboratively to produce highly accurate work product. A passionate interest in capital markets and endowment management. Organizational skills, initiative and a collegial attitude;
  6. Advanced skills with Microsoft applications which may include Outlook, Word, Excel, PowerPoint or Access and other web-based applications. May produce complex documents, perform analysis and maintain databases.
Preferred Qualifications:
  1. Progress towards a professional designation is a plus.
Competencies:
  1. Decision Making: Ability to make decisions that are guided by general instructions and practices requiring some interpretation. May make recommendations for solving problems of moderate complexity and importance.
  2. Problem Solving: Ability to address problems that are varied, requiring analysis or interpretation of the situation using direct observation, knowledge and skills based on general precedents.
  3. Independence of Action: Ability to follow precedents and procedures. May set priorities and organize work within general guidelines. Seeks assistance when confronted with difficult and/or unpredictable situations. Work progress is monitored by supervisor/manager.
  4. Written Communications: Ability to summarize and communicate in English moderately complex information in varied written formats to internal and external customers.
  5. Oral Communications: Ability to comprehend and communicate complex verbal information in English to medical center staff, patients, families and external customers.
  6. Knowledge: Ability to demonstrate in-depth knowledge of concepts, practices and policies with the ability to use them in complex varied situations.
  7. Team Work: Ability to work collaboratively in small teams to improve the operations of immediate work group by offering ideas, identifying issues, and respecting team members.
  8. Customer Service: Ability to provide a high level of customer service to patients, visitors, staff and external customers in a professional, service-oriented, respectful manner using skills in active listening and problem solving. Ability to remain calm in stressful situations.

Physical Nature of the Job:
Sedentary work: Exerting up to 10 pounds of force occasionally in carrying, lifting, pushing, pulling objects. Sitting most of the time, with walking and standing required only occasionally

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