Endowment Office Investment Associate

Beth Israel Lahey Health Investment Office
Boston, Massachusetts (US)
Base + discretionary bonus and benefits
17 Jun 2021
16 Aug 2021
Investment Associate 2021
Job Function
Industry Sector
Asset Management
Employment Type
Full Time

Beth Israel Lahey Health Investment Office

Investment Associate Position



The Beth Israel Lahey Health Investment Office (BIHIO) manages the long term investment assets for the Beth Israel Lahey hospital system which is a leading healthcare provider in the Boston metro area.  The Office also manages a portion of the endowment and foundation assets for Combined Jewish Philanthropies (CJP).  Together these pools represent approximately $2.5 billion in assets, and share a common investment approach.  While organizationally part of Beth Israel Lahey Health (BILH), the Investment Office is overseen by a small group of widely recognized investors referred to as the Board of Managers.  The Board of Managers functions independently of BILH and CJP, and this allows for truly long term investment decision making. 

The Investment Office currently comprises six investment professionals, whose tenure with the Office ranges from two to ten years.  While more senior members of the team possess expertise in certain areas, the Investment Office functions as a team.  Our focus is on manager selection, as opposed to asset allocation, as we believe we can best assess investment opportunities at the manager level.  Our portfolio of managers is relatively concentrated.  While our manager turnover is low, we are constantly evaluating new and existing managers.   

We are currently seeking to add a second Investment Associate to our team.    


As an Investment Associate on our team, we expect you to assume an integral role in our investment process.  Most often this will involve completion of diligence on new – and existing – public and private investment managers.  This diligence requires various quantitative and qualitative assessments, as you will analyze portfolio construction and holdings; read manager letters; participate in diligence calls and meetings with the manager; and importantly, actively engage in internal discussions as we determine whether to make or maintain an investment, and if so, how much capital to invest. 

You also will play an important role in preparing materials for our quarterly meetings with the Board of Managers, and for periodic meetings with our investing partners (BILH, CJP).  These materials range in scope, and may cover the role of cash and fixed income, to discussion of recent performance and markets, to succession challenges for portfolio managers where we have had a longstanding investment. 

As importantly, we also look to an Investment Associate to make meaningful contributions to the continued intellectual growth of the office.  These contributions will likewise vary, and will range from active participation in meetings where you will be expected to think independently to leading discussion regarding a book we have selected to read as an Office. 

The Investment Associate position is an excellent opportunity for personal growth, while positively impacting the further development and evolution of the Office.  Success as an Investment Associate also provides the opportunity to make a meaningful contribution to institutions which are critical to the delivery of healthcare locally, and to philanthropic efforts globally. 


Experience – At least two years post-undergraduate, with work experience that is directly relevant to evaluating specific investments or investment managers.

Education – Undergraduate degree with demonstrated achievement.  CFA or MBA is a plus.

Interests – Broad interests, with a demonstrated interest in investing

Attributes – Curious, analytical, intellectually honest, persistent, team player


If you are interested in speaking with us, please submit your resume to the following email address: BILHIOrecruiting@BILH.org.  Please also include your responses to the following questions:

  • 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 200 words)
  • In your first few months on the job, what questions would you ask, and to whom? (In less than 200 words)
  • How should an endowment pool think about risk? (In less than 200 words)
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