Investment Committee Member
Chair: Brooks Nelson
Members: Nicki Boone, John Conover, Peter Fung, MD, John Zoglin
Executive Sponsor: Carlos Bohorquez, Chief Financial Officer
Role & Responsibilities:
The position on the El Camino Health Investment Committee is for an individual who has the interest, experience, and capacity to work with a mission-driven, consumer-facing organization, and who can collaborate with and challenge a driven management team.
The Committee's primary role is to provide oversight and to advise the management team and the Board on matters about this Committee. With input from the Committee, the management team shall work with its investment advisor(s) to develop/update El Camino Health's investment policy and dashboard metrics that will be used to measure and track investment performance for the Committee’s review. It is the management team's responsibility to develop and provide the Committee with reports, plans, assessments, and other pertinent materials to inform, educate, and update the Committee, thereby allowing Committee members to engage in meaningful, data-driven discussions.
The Committee is responsible for ensuring the performance of the investment portfolio and investment allocations are consistent with the investment policy and Board's expectations. The Committee is responsible for ensuring the Board is informed of any deviations therefrom.
To fulfill the duties of an Investment Committee member as outlined in El Camino Health's Investment Committee Charter, candidates will have demonstrated strategic financial effectiveness in an environment as a Financial Advisor, General Manager or CEO. The candidate will meet the qualifications necessary to be deemed an investment expert. Prior board or investment committee experience is preferred but not required.
Experience with evolving capital markets, financial advisory/investment services, wealth management, alternative investments or other complex financial environments would be highly valued, as would the following:
- South Bay resident
- Experience working with or serving on Investment Committees of other Healthcare Organizations
- Candidates that would add gender/racial/cultural diversity to the Committee
- Experience in a large corporate environment (Investment portfolio of $1.0+ billion)
- Private Equity / Alternatives experience
The candidate will have a demonstrated ability to facilitate and challenge an organization to adapt to changing business models, and a willingness to help the Health System move forward in its continuing growth as a strategic leader.
- Review and recommend for approval by the Board the investment policies for the Health System's Investment Portfolio and Cash Balance Plan assets.
- Monitor the performance of the investment managers through reports from the independent investment advisor, and review / approve management's recommendations for changes when appropriate.
- Review / approve management's recommendations to ensure the investment percentages are consistent with the investment policy for the Hospital's Investment Portfolio and Cash Balance Plan.
- Monitor the financial stability and safety of the institutions that have custody of the Hospital's assets, and make recommendations for change when appropriate.
- Monitor the investment performance of the specific investment vehicles made available to employees through their 403(b) Retirement Plan.
- Review recommendations from the Retirement Plan Administrative Committee (RPAC) regarding the selection of an independent investment advisor for the employees' 403(b) Retirement Plan and make recommendations to the Board. The Board will appoint the investment advisor, and the RPAC will monitor, select, and replace the Core investment choices.
The ideal candidate will have the following critical characteristics and behaviors:
- An impeccable reputation for honesty and integrity
- Collaborative nature
- Solid communication and interpersonal skills, with the ability to be effective with other Board members and executive management
- High energy and sense of urgency
- Innovative, creative and imaginative
- Comfortable with change
Primary, Regular Meetings will be held quarterly, typically on the second Monday of the month at 5:30 p.m. Committee and Board Meetings follow a hybrid model and recommend in-person attendance; virtual attendance will be considered on occasional bases.
To inquire about the open position or to nominate someone you know, please email firstname.lastname@example.org.
Submissions due by December 9, 2022
About El Camino Health
El Camino Health provides a personalized healthcare experience at two not-for-profit acute care hospitals in Los Gatos and Mountain View and at primary care, multi-specialty care and urgent care locations across Santa Clara County. For nearly sixty years, the organization has grown to meet the needs of individuals and communities it serves. Bringing together the best in new technology and advanced medicine, the network of nationally recognized physicians and care teams deliver high quality, compassionate care. Key service lines include behavioral health, cancer, heart and vascular, mother-baby, neurology, orthopedics, spine, urology and women's health. The hospitals have earned numerous awards for clinical excellence, including being named as a top 100 hospital in the nation by Fortune/IBM Watson Health and Newsweek, Best Maternity Care Hospital for Los Gatos Hospital by Newsweek, and earning a 5-Star Overall Hospital Quality Rating from Centers for Medicare & Medicaid Services (CMS). El Camino Health has earned four consecutive American Nurses Credentialing Center Magnet Recognitions for nursing excellence and quality patient care.