Endowment Office Investment Professional

Employer
Beth Israel Lahey Health Investment Office
Location
Boston, Massachusetts (US)
Salary
Base + discretionary bonus and benefits
Posted
05 Nov 2021
Closes
04 Jan 2022
Ref
Investment Professional 2021
Job Function
Other
Industry Sector
Asset Management
Employment Type
Full Time
Education
Bachelors

Beth Israel Lahey Health Investment Office

Investment Professional

Your work can make a real difference.

The Beth Israel Lahey Health Investment Office (BILHIO) manages the long term investment assets for the Beth Israel Lahey Health (BILH) hospital system which is the second largest healthcare system in New England.  Comprising 13 hospitals and over 4,000 physicians, BILH is not only the leading inpatient care provider in the Boston metro area, but also a premier teaching affiliate of Harvard Medical School.  BILH is also a leader in research and discovery, with pioneering COVID-19 research which led to the development of the Janssen/Johnson & Johnson vaccine. 

The Investment Office also manages a portion of the endowment and foundation assets for Combined Jewish Philanthropies (CJP).  Founded over 125 years ago, CJP has played an integral role in addressing poverty, social justice and helping those challenged with disabilities, mental illness or aging.  CJP also supports other programs which strengthen the Jewish community. 

As a member of our team, your contribution has a direct impact on the capacity of BILH to provide expansive, quality patient services and research, and on CJP’s ability to serve those in need both locally and globally.

You can become a better investor.

While organizationally part of Beth Israel Lahey Health (BILH), the Investment Office is overseen by seven widely recognized investors referred to as the Board of Managers.  The Board is a source of significant investment insight, and owing to its stability over many decades, ensures long-term investment decision-making and a consistent application of our investment philosophy.  The Investment Office meets quarterly with the Board, and as a member of our team, you will attend these meetings and be an important part of our investment process. 

The Investment Office currently comprises four investment professionals, whose tenure with the Office ranges from two to ten years.  While more senior members of the team possess expertise in certain asset classes, the Investment Office functions collectively as a team.  Our investment approach focuses on manager selection, as we believe we can best assess investment opportunities and risks at the manager level.  We do not have strict asset allocation targets, and do not seek to ‘fill asset class buckets’ with managers who closely follow benchmarks.  Rather, we seek the best investment managers who can meet our risk and return objectives over the long term.  While we maintain a relatively concentrated portfolio of managers, we are constantly evaluating new investment opportunities, both public and private.

As a member of our team, you will become a better investor as you work with an experienced team, interact with top investment managers and our Board, and engage in an investment process which seeks to balance conviction with objectivity.           

You will be an important member of our team.

Our investment team is small and therefore 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 developing materials for our quarterly meetings with the Board of Managers, and for periodic meetings with our investing partners who participate in the BILH or CJP pool.   These materials range in scope, and may cover the role of cash and fixed income in our portfolio; an evaluation of our long/short equity strategy; or, potential ways to protect our portfolio in the event of an inflationary spike. 

As importantly, we also look to each team member to make meaningful contributions to the continued intellectual growth of the office.  We expect you to participate actively in all of our meetings, and will value your ability to think independently.   

Joining our team presents an excellent opportunity for personal growth, while positively impacting the further development and growth of the Office.  Your success 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. 

What are we seeking?

We seek individuals who can have an impact, and will evaluate candidates with different capabilities and levels of experience.  Our criteria are as follows:

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

Education – Undergraduate degree with demonstrated achievement.  CFA or MBA is a plus, but not essential.

Experience – Pursued interests and/or actual work experience that leads to informed and differentiated decision making regarding specific investments or investment managers.

Interests – Broad interests that uniquely shape your perspectives as an investor

What are the next steps?

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

Please note, applicants must be currently authorized to work in the United States for any employer.

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