By Muskan Arora
The $1.47bn University of Utah is seeking director of
investments, as per a job listing posted on LinkedIn.
The new director of investments will be responsible
for the management and performance of the endowment and will liaison between
GCP and the OCIO firms.
Korn Ferry has is the recruiter consultant for the role.
“The role is more
liaison and administration than investing, but you’d be able to focus on
underwriting each of the OCIO actions, and that would be a great experience if
you’re only five years into the business,” said Peter Madsen, director and CIO
of the Utah School and Institutional Trust Fund Office, in a LinkedIn post.
Requirements for the role include minimum
five to seven years of experience in investment management or financial analysis. Further,
the candidate should also possess a bachelor’s degree in finance, economics,
business administration along with a master’s degree or a relevant professional
certification is preferred.
Alongside possessing strong analytical
and problem solving skills, the candidate should also have prior experience of
working with a foundation, endowment or in an institutional investment setting.
Knowledge of regulatory
requirements and compliance standards for higher education institutions is also
key.
Additionally, the Salt Lake City-based university is also
currently shortlisting an outsourced CIO firm to manage the endowment’s assets and
is working on an agreement with Growth Capital Partners to draw the specifics
of the arrangement.
As of fiscal year 2023, the fund returned 5.9% for the
year, outperforming its target benchmark of 5.5%. The fund returned 8.39%,
5.95% and 6.02% for its three, five and ten year returns.
