Investment Analyst

POSITION:                    Alternative Investment Analyst-                                    Project  Assignment

REPORTS TO:               Chief Accounting Officer

 

ORGANIZATION:           Yeshiva University

 

LOCATION:                    New York, NY

 

 

The University

 

Yeshiva University (the University) is a private, nonprofit institution of higher education based in New York City. The University is composed of several colleges and schools providing undergraduate, graduate, professional, and post doctoral education and training. The University performs research and clinical services at its Albert Einstein College of Medicine under grants, contracts, and similar agreements with sponsoring organizations. The Manhattan Campuses of Yeshiva University include all units of the University other than Albert Einstein College of Medicine, with instruction provided to approximately 6,400 students. In addition, the University operates programs in Israel and a museum in New York City.

 

The Investment Portfolio

 

The primary role of the investment portfolio is to advance the mission of the University through support of the annual operating budget. For the year ended June 30, 2007, total operating expenses were approximately $529 million, with the investment portfolio providing over $ 75 million towards support of the operating budget. Investments include a global securities portfolio, including allocations to marketable equity and fixed income securities, and non-marketable alternative investments, including hedge funds, venture capital, private equity, energy and other non-marketable assets. The assets are invested by external investment managers through separate accounts or through commingled vehicles, including funds, trusts and limited partnerships

 

The University manages substantially all of its investments and those of certain related and affiliated entities (approximately $ 1.9 billion at June 30, 2007) in predominantly two investment pools. The smaller pool invests principally in short term obligations and the largest pool invests principally in longer term investments. The balances of the investments are in segregated investment accounts for those donors whose gifts are not invested in the other two pools.

 

The investment pools are broadly diversified across a range of investment managers, with non-marketable, alternative investments approximating 77% of total investments and invested among 70 different non-marketable investment managers.

 

Detailed Description

           

Working closely with the Chief Accounting Officer and the Investment Accounting Manager, the alternative investment analyst will enhance the University’s ongoing monitoring and financial reporting over its alternative investment portfolio, which include:

  Conduct regular in person or telephone meetings with the investment managers, with periodic on-site visits Review and document findings based upon fund communications, including quarterly shareholder's letters and both audited/unaudited financial statements; review SAS 70 reports Perform analysis of fund valuations, which include assessing the valuation of portfolio holdings for reasonableness, review any changes to valuation policies and procedures Compare the University’s fair values as of the fund's year end to the value based on the fund's audited financial statements and follow up on significant discrepancies Monitor portfolio performance versus benchmarks, expected returns, comparison to publicly available data; inquire periodically as to the total long and short positions; review portfolio holdings on a periodic basis and monitor changes in investment strategy Monitoring the managers and document assessment via review of press reports, monitoring staffing levels, personnel changes, and size of assets under management. Continuously update the detailed database of alternative investments Review the most recent audited financial statement of each fund and reconcile to amounts to general ledger and unaudited investment manager balances. Perform a periodic update of the University’s risk matrix over its alternative investment portfolio Prepare year-end workpapers for the University’s external auditor. Other support to the investment office as needed

                       

                      

Qualifications

  Bachelor's degree required, with exposure to alternative investments or prior investment experience. Accounting background preferred. Must have excellent analytical, verbal and documentation skills. Comfort with technology; heavy experience with MS Excel and/or MS Access. Should have a keen interest in investments and endowment management/accounting. Self-starter with a high level of productivity and accountability, and close attention to detail. Team player a must.