We're seeking a new Investment Associate to manage the day-to-day operations, systems and administrative infrastructure that keep the Foundation's investment program running smoothly, while also contributing to portfolio management and monitoring, impact investing initiatives and program-related investments. The ideal candidate combines strong operational and organizational skills with a genuine interest in institutional investing and a belief in the power of philanthropy to transform communities.

This role requires close attention to detail in managing systems, trading operations, manager relationships and compliance, alongside an appreciation for how the Foundation's investment activities align with its mission and programming. Building collaborative relationships with key internal and external partners — including the Finance team, external consultants, fund managers, grantmaking and operations staff is critical to success in this role. 

Job Purpose

The Investment Associate advances the goals of the Bush Foundation by managing the operational infrastructure and contributing to management of the investment portfolio so that the Foundation's resources are invested in accordance with the highest standards of stewardship and impact. This role also acts as a resource and partner to the grantmaking team related to the foundation's growing portfolio of concessionary/charitable investments.

Core Responsibilities

• Investment Operations and Administration (approximately 50% of the role)
  • Manage internal investment systems and databases. We use Backstop and Canoe.
  • Manage trading operations (such as wiring instructions, Know Your Client documentation and approved recipients lists across managers). Initiate and track stock sales upon receipt of distributions.
  • Work closely with the Finance team on cashflow tracking and timing, supporting the annual audit, coordinating fund manager onboarding and redemptions, quarterly and annual outreach to managers for financial statements and maintaining investment records as required by law.
  • Onboard and track new investment managers. Manage ongoing ad hoc manager interactions: statements, audit support, capital calls, portal access and related requests.
  • Help maintain General Partner relationships and working knowledge of strategies, side letters and other relevant terms.
  • Create and maintain internal/external presentation materials.
  • Maintain and update internal investment team budget.
• Portfolio Support (approximately 30% of the role)
  • Actively participate in strategic investment planning discussions with external investment consultants on topics including asset allocation, private investment commitment planning and individual manager selection and removal across the portfolio.
  • Review economic data and stay current with general capital market and alternative asset developments.
  • In conjunction with the MDI and external investment consultants, perform ongoing monitoring and due diligence on current investment managers.
  • Work closely with the MDI to develop materials, prepare analysis and present detailed investment recommendations and portfolio reviews for use by the Foundation’s Investment Committee and Board of Directors.
  • Participate in the consultant relationship review and RFP processes for other ancillary services.
  • Work closely with the MDI to meet and operationalize the foundation’s impact investing goals, including sourcing managers, conducting due diligence and tracking progress.
  • Periodically serve on Limited Partner Advisory Committees.
  • Assist in the annual analysis and reporting of impact investing work, aimed at illustrating progress towards multiple impact investing objectives. Contribute to development and maintenance of a comprehensive reporting strategy on impact investing.
• Program-Related Investments (approximately 15% of the role)
  • Provide financial analysis and review for proposed and existing program-related investments (PRIs), including initial financial diligence on new PRIs and annual review of financial statements for existing PRIs.
  • Coordinate regular cross-org meetings of staff with PRI responsibilities to ensure cross-team collaboration and understanding. Lead development of the annual PRI dashboard for presentation to the Investment Committee and Board.
  • Coordinate and support PRI program development and staff learning opportunities. Serve as a general resource and support the grantmaking team related to the Foundation’s PRI portfolio.
• Organizational Participation (approximately 5% of the role)
  • Actively participate in and contribute to the Investment team, Finance team and cross-foundation work and learning. This includes activities like foundation priorities, community engagement, learning sessions, equity projects, ad hoc work groups, events and committees.
  • Represent the Foundation in relevant networks, events and professional organizations, adding knowledge and expertise in the sector.
  • Actively demonstrate the Foundation’s core organizational values in performing all duties.

Job Data

Reports to: Brendon Reay, Managing Director of Investments  

Classification: Full-Time, Exempt

Starting salary: $144,000

Benefits: We offer excellent benefits, including health, dental, life and disability insurance, vacation, sick and holiday leave; generous retirement contributions and support for significant professional development.

Location: The Foundation’s primary office is located in St. Paul, MN. We are a place-based foundation with a focus on serving the people in Minnesota, North Dakota, South Dakota and the 23 Native nations that share that geography. All employees are required to live in the region that we serve. Currently, 32 of the Foundation’s 36 employees live in the Twin Cities.

Work Context: We work in a hybrid environment, with a mix of virtual and in-person work. Twin Cities-based staff work on-site every Wednesday, with one additional day for connection and learning on-site every month. Once a quarter, staff who live outside the Twin Cities travel to our St. Paul offices for those two on-site days. Staff are welcome to work in the office more frequently if desired.

Schedule & Travel: This role requires schedule flexibility and up to 25% travel.

Key Qualifications and Attributes

• This role requires a level of independence and judgement that requires at least three and likely closer to five years to develop. Ideal candidates will have experience in operations or financial roles, such as investment operations, investment consulting, investment management, or institutional investing.
• Grantmaking, impact investing or grantmaking operations experience would be a plus.
• Experience managing a variety of investment-related operational and administrative tasks, such as cashflow tracking, subscription documentation, and general project and schedule management.
• Experience organizing, analyzing, distilling, and presenting investment data. Familiarity with Environmental, Social and Governmental (ESG) criteria, Program Related Investments (PRIs), Mission Related Investments (MRIs) and/or private equity investments is a plus.
• Strong attention to detail, commitment to accuracy and timeliness, and the ability to juggle multiple competing demands are crucial.
• Strong written, verbal and interpersonal skills in order to build effective working relationships internally and externally. Able to work effectively and build relationships with people of different backgrounds and communities.
• Excellent financial modeling, analysis, technical skills using Excel and other tools as needed. Advanced PowerPoint skills for creating Board and Investment Committee presentations.
• Experience with Canoe or Backstop is a plus.
• Commitment to aligning mission with position responsibilities.
• Knowledge of the Foundation’s work, programmatic investments and/or experience working with community organizations either as a volunteer, staff person or board member is a plus
• Enthusiasm for the Foundation’s operating values and a willingness to reflect, learn and act to do what it takes to live up to them. Readiness to actively invest in their own personal and professional development.