Dignity Health

  • Manager, Investments Private Equity

    Job ID
    2018-57379
    Employment Type
    Full Time
    Department
    Investment Management
    Hours / Pay Period
    80
    Facility
    Dignity Health System Office
    Shift
    Day
    Location
    San Francisco
    State/Province
    CA
    Standard Hours
    Monday - Friday (8:00 AM - 5:00 PM)
    Work Schedule
    8 Hour
  • Overview

    Dignity Health, one of the nation’s largest health care systems, is a 22-state network of more than 9,000 physicians, 63,000 employees, and 400 care centers, including hospitals, urgent and occupational care, imaging and surgery centers, home health, and primary care clinics. Headquartered in San Francisco, Dignity Health is dedicated to providing compassionate, high-quality, and affordable patient-centered care with special attention to the poor and underserved.  In FY17, Dignity Health provided $2.6 billion in charitable care and community services. For more information, please visit our website at www.dignityhealth.org. You can also follow us on Twitter and Facebook.

    Responsibilities

    The Opportunity:

    Working for the Dignity Health Investment Program with nearly $10 billion AUM is an opportunity to apply analytical and investment skills for the benefit of one of the nation’s largest health care systems and further its commitment to providing compassionate, high-quality, affordable health care. The successful candidate will be part of a small, collegial team, working to build and grow a world-class, socially responsible investment organization, delivering strong long-term, risk-adjusted returns.

     

    The Dignity Health investment program comprises five pools of capital – long-term corporate operating reserves, a defined benefit plan for employees, two insurance trusts, and a vehicle exclusively dedicated to investing related foundation assets. These pools have many similar underlying managers but differ in terms of their risk, return profiles, liquidity requirements and asset allocation targets.

     

    As a key member of our team, the Manager, Private Equity will work closely with the entire investment team and have a high degree of responsibility, exposure, and growth opportunities. The position will report to the Senior Director, Alternatives, and engage significantly in sourcing, evaluating and monitoring global investment managers within Private Equity and across an array of asset classes; create and discuss portfolio, market and risk analytics; utilize reporting and monitoring tools and systems; and recommend investments to and engage in discussions around investment and portfolio decisions, asset allocation and portfolio construction with the broad investment team. The Manager, Private Equity will serve as a voting member of the decision-making internal Investment Committee. Overall the program is fully invested across a broad range of investment classes and mandates, providing a dynamic operating environment with opportunities for continual learning and development. We offer a solid compensation and benefits package as well as a balanced work environment in a mission- and performance-oriented, collegial, team-based setting.

     

    Responsibilities

    The Manager, Investments will report to the Sr. Director, Alternatives and engage in sourcing, evaluating and monitoring global private equity investment managers. More specific responsibilities include:

    • Identify, evaluate, select and monitor differentiated private equity investments globally and provide backup diligence, analysis, and investment opinions across asset classes.
      • Source, research and maintain independent due diligence on current and potential investment managers to deliver diversified sources of alpha.
      • Use models and systems to adequately assess and support the underwriting of investment strategies and individual managers from both a risk and return perspective. Evaluate and assess historical and anticipated manager performance.
      • Prepare manager recommendation memos for the internal investment team.
      • Present, discuss, and evaluate investment ideas, recommendations, and opinions on managers and asset classes, both verbally and in writing, as a member of a collaborative team.
      • Conduct research and analysis on a wide variety of evolving strategic investment topics and handle ad hoc projects, analyses, presentations and reports.
    • Work with the Senior Director to recommend an asset class strategy, including portfolio construction for the asset class as well as themes and positioning recommendations, taking into account the overall strategy and constraints for each pool of capital as well as broader portfolio attributes. Provide recommendations and engage in portfolio construction discussions related to the private equity portfolios and the broader portfolio. Work with Senior Director and CIO to refine and implement strategy. Regularly engage with the Director, Risk Management, regarding private equity portfolio construction and monitoring.
    • Engage with the rest of the investment team on investment recommendations, risk management, and portfolio construction and monitoring.
    • Serve as a voting member of the decision-making internal Investment Committee for manager decisions across asset classes. Provide backup diligence, analysis, coverage, and investment opinions on managers as needed across asset classes.
    • Assist with asset allocation decisions and portfolio evaluation. Help analyze and assist with regular reviews of asset class attributes as well as overall portfolio and market characteristics, including exposures, performance, liquidity and cash flow, and key risks. Support asset allocation and risk management efforts by gathering, maintaining and processing a variety of portfolio and economic data.
    • Represent Dignity Health and the investment program with high integrity and professionalism. Serve as a respected ambassador for the organization at manager meetings, conferences, and industry events. Establish and maintain strong relationships with industry participants and industry experts. Communicate effectively with other Dignity Health staff and promote a collegial working environment.
    • Collaborate effectively with peers in multiple functions, including Treasury, Mission, Legal and Investment Operations, among others.

    Qualifications

    Education & Experience:

    • Ideally have at least five or more years of experience in private equity or related fields within a recognized and respected firm, which could include an endowment, foundation, plan sponsor, family office, OCIO firm, private equity firm, or investment banking firm.
    • Substantial experience in evaluating private equity investment managers or significant understanding of underlying investments, quantitative and qualitative diligence skills, and experience drafting thoughtful and detailed investment recommendations is required.
    • Bachelor's degree with strong academic credentials which ideally include an MBA and/or CFA.

    Additional required qualifications include the following:

    • High ethical and professional standards including a genuine interest in the values of Dignity Health and in socially responsible/ESG/impact investing.
    • Strong interest in and knowledge of finance and capital markets and a passion for investing; an ability and willingness to work across asset classes.
    • Deep intellectual curiosity and critical reasoning skills with sound judgement and capacity to ask insightful questions.
    • Meticulous attention to detail and superior organizational skills.
    • Ability to evaluate and synthesize quantitative and qualitative data. Comfort with quantitative analysis, and using numbers to tell a clear story.
    • Motivated self-starter and problem-solver with a demonstrated track record of producing high quality deliverables on tight deadlines.
    • Ability and willingness to juggle multiple tasks, respond to changing priorities, and contribute to areas beyond the direct scope of responsibility.
    • Strong verbal and written communication skills.
    • An interpersonal style that fits within a collegial, collaborative, team-oriented culture. Able to work effectively as a member of a diverse team.
    • Ability and willingness to travel frequently, both domestically and abroad.
    • Strong academic credentials which ideally include an MBA and/or CFA.

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