Research Triangle Foundation - EVP and COO Position
RTP - North Carolina
Employment Status: Full Time
THE ORGANIZATION
Since 1959, the Research Triangle Foundation (RTF) has served Research Triangle Park (RTP) in its mission to facilitate collaboration among our region’s industries, universities, workforce, and create economic impact for the residents of North Carolina by attracting the world’s most innovative companies and top-tier talent to the state. Located at the geographic center of three R-1 research universities, Duke University, North Carolina State University and the University of North Carolina at Chapel Hill, RTP is the largest research park in North America and a premier global innovation center.
RTP contains 7,000 acres that house nearly 400 companies with more than 55,000 employees within its boundaries, including science and technology firms, government agencies, academic institutions, startups, and nonprofits.
As stewards of RTP, RTF is creating a thriving business environment, promoting economic development, and facilitating strategic partnerships that benefit the region and state. Through its commitment to fostering connections, environmental stewardship, innovation and collaboration, the Foundation invests in programs that cultivate vibrant communities. The Foundation is governed by a Board that includes leadership from the state’s R-1 research universities and The University of North Carolina System, RTP companies, and leaders from across the State.
A key effort is underway as RTF is leading the development of the new downtown destination for RTP. Hub RTP is a $1.5 billion, 100-acre development project that will feature two-million square feet of office, residential, retail, and hotel space, as well as 14 acres of green space, all designed to bring people together to work, play and stay within the Park. In addition, through a planning framework called RTP 3.0, RTF is laying the foundation for continued redevelopment of properties owned within the Park’s 7,000-acre footprint.
THE OPPORTUNITY
The EVP and COO will lead the Finance, Administration, Marketing and Communications and Placemaking operations of RTF while advising on and supporting key real estate investments and activities. If you have experience in financing real estate development activities, risk management associated with real estate assets, and a passion for placemaking and collaborating with internal and external partners, this is a great opportunity for you!
Experience structuring and leading organizations in support of growing and evolving business needs is also highly desired. A passion for the Foundation’s mission is required.
THE POSITION
The Research Triangle Foundation of North Carolina (RTF or Foundation), the 501(c)(4) nonprofit organization responsible for managing Research Triangle Park (RTP or the Park), is seeking an experienced executive with real estate finance and operational experience to fill a key leadership position. The Executive Vice President and COO will report directly to the CEO, work closely with the Board of Directors, and collaborate with a well-established, talented team of organizational leaders to guide the ongoing transformation of RTP.
ESSENTIAL WORK RESPONSIBILITIES
The EVP and COO will be a key member of the leadership team with direct reports that include the Vice President of Administration and Finance, Vice President of Marketing and Communications and the Senior Director of Placemaking. In addition, they will work closely with the leaders of real estate and planning departments, bringing experience in real estate development and deal structure to decisions made by the leadership team.
Specific responsibilities are outlined below.
Resource Development & Risk Management
The underlining strategy for RTF is to maximize assets (primarily real estate) for the financial sustainability of the Foundation and positive impact for the region and beyond. This position requires a solid financial background to accomplish the following:
Working with the CEO, provide advice and input on major real estate transactions including design, site development and scope of real estate projects to include RTP 3.0.
Negotiate and review key legal finance agreements, including mortgages, loan documents, subordination agreements and guarantees as part of financing and construction loan closings.
Provide investment expertise that encompasses public and private real estate and community financing; pursue public and private grants and other revenue sources.
Provide oversight and expertise to the VP of Administration and Finance to manage and monitor the foundation’s operational cash flow and real estate development capital needs to include real estate modeling, capital planning, financial risk assessment.
Develop, track and continuously evaluate an investment strategy. Manage day-to-day investment manager directives and serve as liaison between Finance and Investment Committee Chair and the managers.
Develop and maintain effective working relationships with key financial partners including investment managers, financial partners, government agencies, consultants, and vendors.
Relationship Management
Relationship management is a shared responsibility across the leadership team. The EVP and COO will work closely with the CEO and others to:
Set the strategy for relationship management, evaluate community investments and determine priorities for community engagement/investment.
Serve as the primary point of contact for select key stakeholders and serve as an external facing advocate, thought leader and/or spokesperson for RTF, the Park and the Triangle Region.
Organization Growth & Strategy
RTF has deliberately and strategically evolved as an organization over the past seven years and the next evolution is underway. The EVP and COO will be responsible for guiding the organization in support of this change as follows:
Work collaboratively with the CEO, leadership team, Board, key stakeholders and/or consultants to develop and maintain a five-year strategic plan with measurable objectives.
Define measurement/tracking and reporting, and coordinate activities to achieve strategic goals.
Direct annual strategic planning for implementation of organizational objectives,
Provide support to the Senior Director of Planning to collaboratively leverage the power of RTP companies in support of Park goals.
Guide operations among departments and entities, which includes providing oversight and management of Finance & Administration, Marketing & Communications and Placemaking and collaboration with Real Estate and Planning.
Oversee HR strategy to include developing employees, optimize staffing structure and use of contractors.
QUALIFICATIONS
The successful candidate will:
Provide leadership that fosters a work environment that promotes teamwork, performance feedback, high ethical standards, recognition, mutual respect, and employee satisfaction in a fast-paced environment.
Demonstrate enthusiasm for working in an opportunistic environment with ability to track and evaluate multiple options simultaneously to interpolate an optimal decision.
Respect the value and input of team partners to collaboratively achieve best outcomes.
Be a creative and collaborative problem solver with a strong ability to think out of the box while simultaneously managing and executing multiple complex projects.
Exhibit strong, persuasive communication skills with excellent oral, written, and analytical abilities.
Communicate complex financial and real estate development concepts to senior management, Board members, and community stakeholders.
Have extensive knowledge of financing, project planning and development, capital and expense budget planning, and risk management in a real estate development environment.
Demonstrate fair negotiating skills and thorough understanding/experience of contracts and managing to deliverables.
Possess a high degree of flexibility and adaptability.
Demonstrated excellence in entrepreneurial business leadership.
Live and actively engage in the community; participate in professional and community organizations in the Triangle.
REQUIREMENTS
Bachelor’s in Finance or other related field from an accredited four-year institution required. Master’s in Business preferred.
Minimum 15 years’ experience in planning, managing, financing and coordination of multiuse development projects is required.
Experience leading and developing multi-functional teams is required.
Experience working with Boards and nonprofit experience a plus.
TO APPLY
We are committed to cultivating a workplace in which diverse perspectives and experiences are welcomed and respected. We are proud to be an Equal Opportunity Employer. We do not discriminate on the basis of race, color, religion, national origin, sex, age, disability, marital or veteran status, sexual orientation, political ideology, or membership in any other legally protected class. We strongly encourage individuals with diverse backgrounds to apply.
The Foundation has retained Elinvar to conduct this search. For confidential consideration please send your resume and a cover letter to patti@elinvar.com. We encourage you to apply as soon as possible and no later than June 30, 2024. We will accept applicants until the position is filled.