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Why Mayo Clinic

Mayo Clinic is top-ranked in more specialties than any other care provider according to U.S. News & World Report. As we work together to put the needs of the patient first, we are also dedicated to our employees, investing in competitive compensation and comprehensive benefit plans (https://jobs.mayoclinic.org/benefits/) – to take care of you and your family, now and in the future. And with continuing education and advancement opportunities at every turn, you can build a long, successful career with Mayo Clinic.

Benefits Highlights

+ Medical: Multiple plan options.

+ Dental: Delta Dental or reimbursement account for flexible coverage.

+ Vision: Affordable plan with national network.

+ Pre-Tax Savings: HSA and FSAs for eligible expenses.

+ Retirement: Competitive retirement package to secure your future.

Responsibilities

Position Description

Treasury Services is a division of the Mayo Clinic Finance Department, which reports to Mayo’s Chief Financial Officer, and is charged with managing the investment portfolios of Mayo Clinic (including pension funds sponsored by Mayo) and conducting general treasury operations across the enterprise. Treasury operations include cash management, custody and bank relations, credit card oversight, debt issuance and management, defined benefit and defined contribution pension plan administration, risk financing/self-insurance, and involvement in (non-investment portfolio) enterprise real estate activities from a strategic and financial perspective. Current investment assets under management approximate $30 billion and Mayo Clinic’s Real Estate footprint includes 25 million square feet across medical, administrative, office, hospitality, and commercial space.

The primary role of the Director will be to support the efforts of the real estate office to identify, organize, and manage a portfolio of internal and external Real Estate opportunities and maximize return while minimizing risks for Mayo. This is achieved through creation of the Office of Real Estate, within Treasury Services, to complement and align with BOG/BOT initiatives and to serve as a resource to support leadership at all sites individually, while centralizing opportunities collectively, to leverage Mayo portfolio relationships and insights. In addition to Mayo administrative and medical leadership, this role will seek to leverage the collective and collaborative efforts of five internal Mayo areas: Facilities, Treasury Services, Finance, Legal, and Site Management. As we enter the next stage of Bold. Forward. in Mayo’s growth and the balance between physical and remote site needs as well as new ways to work, it will be valuable to have the Director focused on portfolio performance and transaction support in the Office of Real Estate. With leadership guidance, this will allow the Senior Director and, in turn, Treasury Services, to lead evaluation of the best land and real estate footprint for Mayo Clinic going forward.

The scope and activities of this area will include the following:

**Real Estate Portfolio Inventory** - Execution and oversight of an Enterprise portfolio of Mayo Real Estate, Land, and Development assets. Extending this process to an integrated management of Mayo real estate inventory/oversight at the site and institutional level is prudent, allows for improved review, identification of risks, and opportunity to apply best practices.

**Asset Management** – Provide professional oversight of portfolio, providing performance forecasts and generating guidance on market leasing terms, while maintaining accurate electronic property files, monitor A/R, and operating variance reporting. Prepare hold/sell and other scenario analyses for properties and the portfolio as necessary. Collaborate with executive leadership to refine long-term investment strategies, and risk management approaches. This may also include oversight and reporting on Treasury real estate investments, whether direct or through third-party managers. Integration of principals, trends, and application of best practices to Mayo Real Estate will enhance performance.

**Centralized Leasing** - Centralized and Streamlined Lease Negotiation and Management. Lease contracts can have long-lasting benefits or challenges for Mayo and benefit from a combination of site initiative, centralized review of term considerations, and third-party perspective from Mayo Real Estate and financial partners. Centralized lease underwriting, negotiation, and oversight with final sign-off by respective sites, will lead to improved process, structure, consistency, and continuity in Mayo lease negotiation and transaction management.

**Strategic Performance** - Execute the Enterprise-wide Strategy for Mayo Real Estate, Lease, and Land portfolios to maximize and streamline current and new Mayo opportunities. With different considerations, risks, and opportunities at each campus yet a centralized set of management and financial constraints, the Director would lead, with multi-team and Mayo leadership input, the implementation of a coordinated strategy which considers Mayo’s ability to finance, work with benefactors, and plan for future needs that would benefit the institution. This could include the best financial structure to both finance and manage assets, which could be integrated or separate.

**Working Groups-** Support Treasury Services, Enterprise Working Groups and Board of Trustees Investment Subcommittee for execution of Real Estate and Land Asset strategy.

**Electronic Approval/Workflow** - Workflow and Working Group or Sub Committee Information and Decisions. A combination of electronic approval processes, with appropriate oversight and sign-off from multi-disciplinary teams and shared prep work for either Working Group/Subcommittee or BOG materials quarterly/as needed.

Qualifications

Minimum Education and/or Experience Required:

For this role, a focus on candidates with transaction and negotiation experience within a commercial real estate, public or private real estate, hedge fund, or endowment/foundation setting preferred. Strong quantitative abilities and excellent oral and written communication skills. Ability to build and maintain a network of professional relationships within investment and/or real estate industry also important.

Additional Experience and/or Qualifications:

Preference for candidates with the following:

+ Desire to participate in the development of an enterprise-wide real estate office for Mayo which will work in a team environment to optimize Mayo’s current/future Real Estate footprint.

+ 10-20+ years of public or private institutional real estate experience in roles with increasing seniority or leadership responsibility.

+ Familiarity with and experience in healthcare-related real estate.

+ Experience in full cycle direct institutional level real estate transactions including opportunity identification and strategy, diligence, financial analysis, negotiation, and deal closing.

+ Ability to work independently and as part of a team to set, execute, and accomplish objectives.

Licensure/Certification Required:

Undergraduate degree required; MBA, CFA, and/or CPA designation a plus.

Real Estate License, current

Exemption Status

Exempt

Benefits Eligible

Yes

Schedule

Full Time

Hours/Pay Period

80

Schedule Details

M-F, business hours.

Weekend Schedule

As needed.

International Assignment

No

Site Description

Just as our reputation has spread beyond our Minnesota roots, so have our locations. Today, our employees are located at our three major campuses in Phoenix/Scottsdale, Arizona, Jacksonville, Florida, Rochester, Minnesota, and at Mayo Clinic Health System campuses throughout Midwestern communities, and at our international locations. Each Mayo Clinic location is a special place where our employees thrive in both their work and personal lives. Learn more about what each unique Mayo Clinic campus has to offer, and where your best fit is. (https://jobs.mayoclinic.org/alllocations)

Equal Opportunity

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, gender identity, sexual orientation, national origin, protected veteran status or disability status. Learn more about the "EOE is the Law" (https://www.eeoc.gov/poster) . Mayo Clinic participates in E-Verify (https://www.e-verify.gov/sites/default/files/everify/posters/EVerifyParticipationPoster.pdf) and may provide the Social Security Administration and, if necessary, the Department of Homeland Security with information from each new employee's Form I-9 to confirm work authorization.

Recruiter

Justin Kennedy

Equal opportunity

As an Affirmative Action and Equal Opportunity Employer Mayo Clinic is committed to creating an inclusive environment that values the diversity of its employees and does not discriminate against any employee or candidate. Women, minorities, veterans, people from the LGBTQ communities and people with disabilities are strongly encouraged to apply to join our teams. Reasonable accommodations to access job openings or to apply for a job are available.