Chief Investment Officer

The Foundation

The Charles Stewart Mott Foundation, established in 1926 in Flint, Michigan, by an automotive pioneer, is a private philanthropy committed to supporting projects that promote a just, equitable and sustainable society. It supports nonprofit programs throughout the United States and, on a limited basis, internationally.

Initially, the Foundation served as a vehicle for fulfilling the Mott family’s charitable interests. It began to evolve in 1935, when Mr. Mott teamed with local educator Frank Manley to create community schools in Flint. Their innovative approach to using schools to meet neighborhood needs would become a national model. That project also served as a platform for the Foundation to expand international grantmaking and become a global force for positive change in the areas of education, civil society and the environment.

The Foundation that Mr. Mott launched in 1926 with a $320,000 endowment now has over $3.7 billion in assets and a legacy of working with local organizations to improve communities on every continent except Antarctica. The Foundation has awarded grants totaling more than $3.6 billion to organizations in 60 countries. Grantmaking is focused in four programs: Civil Society, Education, Environment and Flint Area. In addition to Flint, offices are located in metropolitan Detroit, Johannesburg and London. In 2022, the Foundation made 385 grants totaling more than $187 million.

For more information, visit www.mott.org.

The opportunity

The Foundation is seeking to recruit an outstanding leader to oversee an investment portfolio totaling approximately $3.7 billion and an investment/operations team of nine staff. The Vice President and Chief Investment Officer (CIO) should be an innovative, forward-thinking leader with a proven investment track record and a history of leading a successful investment team in a collaborative style, along with being committed to and passionate about the Foundation and its mission. The successful candidate should recognize and be excited about the opportunity to lead and continue to build and enhance an innovative and high-performing investment portfolio with a disciplined approach under guiding principles established by the Foundation’s Investment Committee.

Responsibilities

The CIO will have overall responsibility for implementing the investment objectives and policies established by the Investment Committee. Working directly with the Investment Committee, the CIO will be responsible and accountable for the overall management of the investment portfolio, Investment Committee and Board of Trustee relations and investment office staff.

The CIO is a member of the President’s senior staff and reports directly to Ridgway White, President and Chief Executive Officer, and to the Investment Committee.

Responsibilities include:

Investment management

• Guiding all aspects of the Foundation’s investment objectives, policies and processes as established by the Investment Committee.
• Sourcing, evaluating and executing all investment strategies, including selection and monitoring of external investment managers, and oversight of all investment activities.
• Conducting thorough due diligence on the most compelling prospective opportunities, including qualitative and quantitative analysis of investment strategy, risk, process, organization, portfolio positions and performance.
• Managing the risk and liquidity profiles of the portfolio to be consistent with the Foundation’s objectives and circumstances as well as economic and market conditions.
• Managing operating protocols and procedures that provide adequate controls and overseeing management reporting.
• Continuing to develop and implement tools to assess, measure and manage risk of the total portfolio.
• Monitoring performance, portfolio positions, current events and organizational changes of the invested fund managers and completing analytical reviews to evaluate the relative performance of each fund manager on a regular basis.
• Staying abreast of market conditions and developments that may affect the Foundation’s investment holdings and strategies, and acting proactively and appropriately to protect those interests.
• Evaluating and negotiating management fees and investment guidelines with fund managers.
• Being attentive to operational risks and seeking opportunities to develop or maintain a best-in-class operating environment.

Investment Committee relations

• Building and maintaining consensus among the Investment Committee regarding investment policies, strategies and approaches.
• Seeking the Investment Committee’s advice and counsel, and leveraging the depth and breadth of their investment knowledge and views in forming investment strategies and making investment recommendations.
• Leveraging the committee’s and the Foundation’s global networks, when appropriate, to develop and maintain a network with the outside investment community to expand office knowledge regarding investment opportunities.
• Regularly reporting investment results to the Investment Committee; informing and educating the Investment Committee regarding potential investment strategies and changes in the portfolio.
• Maintaining an ongoing dialogue with the committee membership to constantly assess strategies, early trends and potential emerging issues in advance of impact on investment performance.

General and personnel management

• Collaborating closely with the Foundation’s financial leadership to ensure liquidity to meet the Foundation’s financial commitments, evaluate legal contracts with investment managers, and coordinate and integrate overall financial strategy.
• Providing overall leadership, oversight and management of the activities of the investment staff.
• Setting expectations clearly; rewarding and promoting high standards of performance for both individual and team performance.
• Working with the Chief Executive Officer and Human Resources to develop and oversee total compensation and an incentive compensation program to attract, retain and motivate the investment staff to achieve exceptional investment results.
• Assisting the Chief Executive Officer in identifying and recruiting Investment Committee members as needed with the background and expertise to assist the CIO with governing the investment portfolio.
• Working with the Chief Compliance Officer/Chief Financial Officer/Treasurer on treasury management, SEC, audit, personal trading, conflict of interest, legal and other compliance matters.
• Teaching, coaching, mentoring, evaluating and providing feedback to improve performance and develop employees’ potential.
• Demonstrating by example high levels of ethics, professionalism, collaboration and teamwork with all staff.
• Representing the Mott Foundation as a leader in the local community and national investment community.
• Attending Board of Trustees meetings on a quarterly basis to provide investment portfolio updates and develop an understanding of grantmaking activities.

Qualifications

The successful candidate will possess a minimum of 15 years of experience as a senior investor at an endowment, foundation, family office, plan sponsor, OCIO, fund of funds or other sophisticated investment platform. This could include not only asset owner platforms but direct traditional or alternative organizations, especially platforms with strong multi-asset or solutions-oriented product sets. Primary qualifications should include:

• A proven investment track record and commitment to achieving excellence in investment performance, plus a reputation for sound investment judgment, rigor/discipline and risk management.
• A broad understanding of macroeconomics, portfolio theory, asset allocation, risks analytics and portfolio construction.
• A capacity to think creatively and explore themes and identify managers that are unique.
• An ability to make complex decisions with long-term implications using abstract concepts and detailed knowledge of business, investment and strategic issues.
• An aptitude to interpret quantitative figures and assess the meaning and significance of risk measures and performance records.
• An ability to express complex concepts in clear and simple language, both in verbal and written form, so the Investment Committee remains focused on key issues and risks rather than obscure or excessive details. The true mastery of complex concepts and ideas requires the ability to express them in their essence, which is valuable in building committee relations and reaching committee consensus.
• A consensus-oriented leadership and investment style that combines a performance orientation with strong cultural sensitivities, listening skills with conviction, confidence with lack of ego, competitiveness with a desire to share credit and a passion for investing in markets equaled only by their commitment to serve the best interests of the institution.
• Demonstrated leadership skills managing investment staff with an emphasis on team building, development, motivation, retention and commitment to diversity and inclusion.
• Access to and an understanding of private and public alternative investments which will include having an independent network for manager evaluation and reference checking purposes.
• Highly collaborative and team-oriented with strong interpersonal skills.
• A demonstrated ability to work effectively with all constituencies, including Investment Committee members, sophisticated investment professionals and the Foundation’s leadership team.
• A patient and disciplined investor who emphasizes long-term strategies and high-conviction positions.
• Highest standards of personal and professional ethics and integrity.
• Enthusiasm about being part of the Mott Foundation and contributing to its mission.
• Strong academic credentials, including an MBA/CFA or other advanced degree.

Application process

To apply for this position, please submit a cover letter and resume. Applications and inquiries should be directed to: Elizabeth Havens, ehavens@davidbarrettpartners.com.

The Mott Foundation is an equal opportunity employer and encourages diversity of thinking, background and perspective among its staff. All qualified individuals are encouraged to apply.