Director of Investments

California, United States
Salary Commensurate with experience
Nov 24, 2020
Dec 23, 2020
Employment Type
Full Time

The mission of the Santa Barbara Foundation (SBF) is to mobilize collective wisdom and philanthropic capital to build empathetic, inclusive and resilient communities.

We are seeking a full-time Director of Investments to join our Finance team and lead the work in Investments. This position reports to the Chief Financial Officer (CFO).

Please note that due to COVID-19 this position, along with the rest of our staff, will mainly telecommute until it is safe for all staff to return to our offices. Once our offices reopen fully, this position will be based out of our Santa Barbara office, with time also spent at our Santa Maria office.

SBF looks for candidates that care about our mission, values and want to participate in a healthy, happy and collaborative work culture based on inclusivity, innovation and accountability. We believe the collective sum of the individual differences, life experiences, knowledge, innovation, self-expression, unique capabilities and talent that our staff invest in their work represent a significant part of not only our culture, but our reputation and organization’s achievement as well.

Please review our Job Description below, before applying.

All applicants must submit a professional resume, cover letter and completed copy of our employment application, to, in order to be considered.

See the bottom of our ad for information regarding benefits.

Position Summary:

The Director of Investments is responsible for oversight of the Foundation’s charitable assets. This position plays an important role in the Finance department by overseeing SBF’s invested charitable assets. This position provides direction to promote prudent investment practices that advance the Foundation’s objectives. The Director collaborates with internal and external stakeholders to ensure product and service innovation consistent with the Foundation’s vision, mission and governing policies. This position has oversight of accounting work related to investments and supervises the Investment Accountant.


Specific Responsibilities:

  • Lead and develop all investment operations and decision-making consistent with the Foundation’s investment goals, mission and governing policies on a day-to-day basis. Develop and incorporate efficient business practices and processes to ensure fund holders experience best-in-class customer service.
  • Core areas of responsibility include oversight of all investment portfolios and associated investment relationships, coordination of all external investment-related service providers, administration of individually managed donor portfolios, management of the nonprofit investment services program, investment communications, stock trading, planned gifts’ support and investment-related audit work for various clients (which include nonprofits, donors, and professional advisors).
  • Supervise investment consultant team and institutional custodial team. Oversee outside investment portfolio managers, charitable gift annuity administrator and investment team, pooled income administrator and investment team, investment consultant team, and banking relationships. Provide investment oversight and direction and evaluate and negotiate costs for consultants. Lead efforts to conduct periodic requests for proposals for change in investment services.
  • Lead investment governance in partnership with board of trustees, investment committee chair and investment consultant team. As the key staff on the Investment Committee, and in conjunction with investment consultant, identify qualified volunteer members, and prepare materials, documents and guidelines for committee members.
  • Lead administration and management of individually managed funds and portfolios. Qualify investment advisors, establish accounts and approve separate investment policy statements (via investment committee approval or subcommittee) for donor accounts that are separately managed from our four portfolios. Complete ongoing monitoring, review and oversight of each portfolio, including accounting review on a quarterly basis. Ensure manager due diligence and adherence to SBF’s goals and policies.
  • Oversee and manage unique investment programs: gift annuity, pooled income funds and charitable remainder trusts. Select vendors for investment management, custody, record keeping and obtain internal approval. Supervise all external operations to ensure timely payments and reporting to beneficiaries. Develop internal policy and procedure documents needed for these programs. Serve as a lead spokesperson for all donor inquiries. Coordinate with administrator/record keeper to complete all required tax documents for trusts, pooled income funds and for CGA donors. Complete annual insurance filing report for CGA program.
  • Execute and manage the nonprofit investment program as staff lead. Solicit new relationships to grow assets, develop investment options, service client needs, create media materials, create fund application forms, and build new nonprofit client relationships.
  • Direct cash flow management actions needed to support donor funds, investment rebalance/changes, capital calls and distributions work, and SBF operational needs. Design and supervise key accounting tasks related to tracking and recording investment activity. Manage all fund level accounting work related to invested fund holders on a routine daily/monthly basis.
  • Participate as a member of the 401(k) investment committee. Make recommendations for the organization’s 401(k) plan. When requested, support CFO and HR in coordinating staff educational opportunities with wealth advisory firm.
  • Organize all internal operational processes to ensure that all SBF investment governance policies and practices meet fiduciary standards for charitable assets as required.
  • Serve as a spokesperson in areas of expertise, including investment management and charitable gifts. Participate as a key member of donor and community facing team to present and explain SBF’s various investment programs, including investment portfolios, individual investment opportunities, nonprofit investment program, split gift opportunities, stock trading and donor fund creation.
  • Initiate and provide investment leadership on specials projects and new initiatives. (e.g., research and analysis, cost analysis, regulatory changes, and strategic implementation).
  • Provide all audit related deliverables for investments and complex split gifts, including Level 3 assets and related footnotes.
  • Collaborate with development staff on complex gift research, providing direction and knowledge of best practices and legal requirements related to Pension and Protection Act of 2006. Provide investment related support and attend client meetings on routine basis, as SBF’s investment expert.
  • Stay abreast of investment practices, strategies, and best practices through communication with peers, news, attendance at conferences and professional networks.
  • As the main supervisor, coach teach, review and mentor the Investment Accountant (75%), as a partially shared duty with the Controller.
  • Keep Outlook Calendar populated as per SBF standard.
  • Other duties as assigned.


Essential Requirements:

  • Demonstrated significant experience in financial services administrating institutional investments and client services.
  • Experience supervising staff.
  • Ability to learn financial software and other computer programs utilized by SBF.
  • Familiarity with MS Office, especially Outlook.
  • Understanding of UPMIFA, administration of foundations, fund administration and donor advised funds.
  • Deep personal integrity and strong work ethic.
  • Excellent verbal and written communication skills with ability to communicate investment and financial matters to diverse audiences from donors and Board members to nonprofit and community groups.
  • Strong organizational and time management skills with the ability to prioritize and be flexible, as needed.
  • Demonstrated team player with proven ability to build collaborative relationships with key stakeholders.
  • Self-motivated with the ability to direct Investment’s workflow.
  • Ability to oversee the Investments Department, Committee and other investments related groups.
  • Keep Outlook calendar populated as per SBF standard.


Preferred Requirements:

  • Experience working with Financial Edge (FE) or similar program.
  • Understanding of charitable trusts and gift annuity regulations.
  • Bachelor’s degree preferred.


Work Environment:

  • General office environment, open office space or shared office space.
  • Telecommuting – working from home. Must have reliable modem, router, internet connection and phone.
  • Dogs (pets) intermittently on the premises, weekly.
  • Significant telephone and computer work (repetitive movement – typing).
  • Some driving travel within the county and occasional travel outside of the county (via car or plane).
  • Frequent sitting, standing, walking, climbing stairs, bending and occasional lifting/pushing of light to heavy loads (10lbs. to more than 50 lbs.) Significant telephone and computer work (repetitive movement – typing)

At SBF, we value wellness and offer a very generous benefits package, including: up to 15 days of PTO in the first year of employment, sick time, 401K with 4% matching in the first year and an additional 6% of profit sharing after one-year anniversary, fully paid medical and ancillary benefits and more!

No calls, please.