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Chief Investment Officer – Robert Wood Johnson Foundation

Job Details

INVESTMENTS

The Robert Wood Johnson Foundation (RWJF; the Foundation), located in Princeton, N.J., is the largest philanthropy in America dedicated solely to health. Since 1972, we have focused on developing and promoting innovations in health and healthcare to improve the lives of millions. In partnership with others, we are working toward a nation that is rooted in equity, compassion, and respect. A nation that provides everyone in America a fair and just opportunity to thrive, no matter who they are, where they live, or how much money they have. This requires addressing many harmful obstacles to well-being, including poverty, powerlessness, and discrimination.

We take seriously our responsibilities, and we pledge to work in ways that reflect our Guiding Principles. These are rooted in equity and influence everything we do at RWJF. Equity, diversity, inclusion, and collaboration allow our staff’s wide range of experiences, passions, and perspectives to enrich our work and strengthen our ability to address our nation’s most pressing health issues. The Foundation offers a collaborative, collegial, and creative work environment. With a career at the Robert Wood Johnson Foundation, you will make a difference.

Purpose of the Position

The chief investment officer (“CIO”) of the Robert Wood Johnson Foundation oversees all aspects of management of the endowment portfolio and the RWJF Investment team. This person is responsible for the overall investment policy, asset allocation, manager selection, and portfolio risk. This leader manages a high-performing Investment team and is responsible for the relationship with the Investment Committee of the Board of Trustees and, through that group, to the Board of Trustees. The CIO is a member of the senior staff of the Foundation, and will build close working relationships with colleagues, particularly in the Law and Finance Departments, to uphold the Foundation’s Guiding Principles and to play a leadership role as an institutional investor in the financial community. The CIO will also work with the mission-driven Impact Investments team.

Key Responsibilities

Management of the Endowment Portfolio

  • Periodically recommends and evaluates the asset allocation framework for approval by the Investment Committee and implements the asset allocation as approved
  • Periodically recommends and evaluates investment policies for approval by the Investment Committee and implements the policies as approved
  • Approves investment activities as set forth in the Foundation’s investment policies
  • Develops and maintains the risk management framework for the portfolio, including measurement and reporting on portfolio return and risk
  • Takes responsibility for EDI implementation opportunities, and other aspects of alignment with important Foundation objectives
  • Takes responsibility for implementing environmental, social, and governance (ESG) approaches to the endowment as directed by the Board of Trustees
  • Takes responsibility for implementing principles of mission-related investing (MRI) and impact investing as directed by the Board of Trustees

Management of the RWJF Investment Team

  • Responsible for hiring, developing, managing, and leading the work of the Investment team, for building a diverse, multicultural team; for the evaluation of members of the Investment team; and for structuring the activities of the team as a whole
  • Creates an open, collaborative, positive, and highly ethical environment for investment decision- making, with an opportunity for diverse opinions and staff from diverse backgrounds and roles to be heard and included
  • Creates a climate of responsibility and accountability so that members of the team are willing to take ownership of the decisions and results
  • Manages the tension between meaningful delegation of decision-making to the various teams, and full acceptance of the results for the portfolio as a whole
  • Provides leadership and mentorship to the members of the Investment team
  • Oversees the administration of the Foundation’s ethical conduct provisions and trading policies

Maintaining Relationship with the Investment Committee

  • Develops confidence and trust with members of the Investment Committee and plays an integral role in evaluating potential new members of the Investment Committee
  • Working closely with the Committee chair, the general counsel or their designee, and frequently the CEO of the Foundation, sets agenda for committee meetings, discusses potentially sensitive issues, and staffs and manages—when necessary—the governance of the committee
  • Leads the activity of each Investment Committee meeting, making sure to permit full questioning and discussion by the Committee members
  • Delivers quarterly report to the full Board of Trustees

Serving as a Senior Staff Member of RWJF

  • Participates fully as a senior leader of RWJF and serves as an organization-wide leader who embraces the principles of equity, diversity, and inclusion
  • Works closely with the general counsel and legal teams on day-to-day business and on frequent ad-hoc issues
  • Works closely with the chief financial officer (CFO) and ensures that the Investment Operations team and the Finance team have seamless interaction on daily operations and the annual audit
  • Works closely with the Information Technology (IT) department and related areas for data management and security
  • Works closely with the executive vice president of the Program unit and ensures that the Investment team understands Foundation strategic priorities including program and MRI

Experience and Professional Qualifications

The successful candidate will have exceptional investment acumen and integrity. They will have a passion for excellence and strong values-alignment with the Foundation. The successful candidate will possess excellent interpersonal skills, significant management experience, a compelling presence, and business acumen. They must embody the principles of equity, diversity, and inclusion in their approach to work, and their ethics must be above reproach.

The ideal candidate will have extensive experience across investment management, strategy, asset classes, manager selection, and investment relationships. The candidate must have extensive risk and markets expertise. Preference is for experience in managing a diversity of asset classes as well as all aspects of the investment processes for an endowment, foundation, or comparable institutional investment structure.

The successful candidate will be both a visionary and a strategic thinker with a proactive communications style and experience managing a dedicated and engaged Investment team. Presentation skills, both oral and written, must be superb. The successful candidate must be mature and capable of building credibility and engendering respect, both internally and externally.

The successful candidate will have demonstrated a favorable record managing a portfolio of diversified assets at scale. The successful candidate will provide strategic insights in asset allocation and be able to anticipate any directional changes in financial markets and industry trends which may affect the Foundation’s performance. The successful candidate will understand the impact investing, ESG, socially responsible investing (SRI), and MRI landscape to partner with the CEO, Board, and Investment Committee regarding impact investment strategies for the organization.

The successful candidate will have the following qualifications:

  • A strong alignment with the Foundation’s values and commitment to equity and social justice
  • Demonstrated personal and professional commitment to equity, diversity, and inclusion
  • Experience in building equitable practices within an institution committed to equity, diversity, and inclusion; and in fostering an inclusive environment working effectively with persons from diverse professional, cultural, social, and ethnic backgrounds
  • Extensive knowledge of investment concepts, strategies, styles, and analytical methodologies from the total portfolio level to individual security selection
  • Knowledge across asset classes (broadly defined as public, private, and real assets) and a breadth of investing experience as a manager of managers, fund or funds managers, plan sponsors, direct investors, or sophisticated consultants or investment advisors at institutional scale
  • Genuine interest in mentoring and developing a high-quality Investment team and staff members, evaluating investment processes, and receiving professional advice and mentorship from an experienced Investment Committee
  • Desire and demonstrated ability to work with people of diverse backgrounds, cultures, perspectives, and lived experiences
  • An understanding of complex global and domestic macroeconomics and capital market issues relating to investments
  • Solid understanding of the impact investing (ESG, SRI, MRI) landscape with the ability to collaborate with the CEO and Board to build the Foundation’s approach
  • Existing relationships, or the ability to quickly develop them, with top-performing investment organizations
  • Ability to work effectively and build consensus with multiple constituencies, both internally (e.g., Investment Committee, Board of Directors, colleagues) and externally (e.g., consultants, investment managers)
  • Positive, results-oriented style, evidenced by listening, motivating, delegating, influencing, and monitoring the work being done
  • Exceptional verbal and written communication skills combined with the ability to listen deeply and authentically
  • Demonstrated capacity for self-reflection
  • Great intellectual curiosity and a desire to help advance the mission and vision of the Foundation
  • Ability to be adaptive and responsive to the Foundation’s evolving priorities
  • Unquestionable integrity, ethics, credibility, and character

Salary

The starting base salary range for the chief investment officer is $725,000 to $750,000. The CIO participates in a bonus pay program based on investment performance outcomes. Why Work at RWJF? Learn more about the benefits of working at RWJF.

How to Apply

Please send your cover letter and resume or candidate recommendations to RWJFCIO@KornFerry.com, or to the Korn Ferry team listed below.

Divina Gamble, divina.gamble@kornferry.com
Kate Shattuck, kate.shattuck@kornferry.com
Sara Rogers, sara.rogers@kornferry.com
Traci Robinson, traci.robinson@kornferry.com

The Robert Wood Johnson Foundation is an equal opportunity employer and strongly encourages applications from people of color, persons with disabilities, women, and LGBTQ+ and other underrepresented applicants.

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Job Status: Open

Job Sectors: Chief Investment Officer

Job Type: Full Time

Regions: Princeton

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