The Robert Wood Johnson Foundation is seeking a new CIO to succeed Brian O’Neil and oversee its $12.7 billion investment portfolio. A foundation spokesperson said O’Neil will be retiring at the end of the year. The philosophy of the Princeton, N.J.-based foundation is to fund initiatives to “address some of America’s most pressing health challenges.”
In a job posting on its website, the foundation said that the CIO position oversees all aspects of management of the endowment portfolio and the foundation’s investment team. It said the CIO will be responsible for the overall investment policy, asset allocation, manager selection, and portfolio risk, as well as the relationship with the board of trustees’ investment committee.
The CIO is expected to “build close working relationships with colleagues, particularly in the law and finance departments, to uphold the foundation’s guiding principles,” the foundation said in the post.
The key responsibilities include recommending and evaluating the asset allocation framework as well as investment policies, and developing and maintaining the risk management framework, including measurement and reporting on portfolio return and risk. The role also includes implementing environmental, social, and governance (ESG) approaches to the endowment, as well as equity, diversity, and inclusion implementation.
Other responsibilities include:
- Hiring, developing, managing, and leading the work of the investment team “to build a diverse, multicultural team.”
- Creating an open, collaborative, positive, and highly ethical environment for investment decision-making.
- Creating a climate of responsibility and accountability so that members of the team are willing to take ownership of decisions and results.
- Working closely with the foundation’s investment committee chair, general counsel, and CEO.
- Delivering quarterly reports to the board of trustees.
The foundation said its ideal candidate will have extensive experience in investment management, strategy, asset classes, manager selection, and investment relationships.
“The candidate must have extensive risk and markets expertise,” said the posting. “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 starting base salary range for the position is $725,000 to $750,000 a year, plus a potential bonus pay program based on investment performance.