Advancing Women’s Leadership in Asset Management: Alyssa Rieder, CommonSpirit Health

For Women’s History Month, the Nasdaq shines a light on the women who are advancing inclusive growth and prosperity within the asset management industry.

We spoke with Alyssa Rieder, Chief Investment Officer of CommonSpirit Health, about the benefits of diverse teams and leadership by example.

As a CIO, what does your day-to-day work consist of?

In my day-to-day responsibilities, I oversee the nearly $50 billion CommonSpirit Health investment program for the nation’s largest nonprofit hospital system, which aims to deliver affordable, high-quality healthcare at scale. . The investment program includes several institutional pools of capital, including various operational, pension, foundation and self-insurance assets, which may result in different risk/reward requirements and constraints. Working closely with the investment team, I am the primary decision maker overseeing manager selection, retention and termination, directing portfolio rebalancing and strategic directions.

How did you get started in the institutional investment business?

My first exposure to investing was in grade school, where I enjoyed reading ValueLine reports and debating company value propositions with my dad. At the time, I was fascinated by the wealth-building power of compounding over time and told friends on the playground that I intended to be a stockbroker when I would be tall. My first job at an investment management firm was during the summer between my years in business school, where I had the opportunity to cover commercial aviation and aerospace companies as a buy-side analyst.

What’s one of the most valuable lessons you’ve learned in your career?

People are happier and more productive if they can attach real purpose and meaning to their work and if they feel valued and appreciated for their contributions.

Historically, there has been a shortage of women in leadership positions within the industry. What are you and your company doing to increase diversity at senior levels?

Our investment team works to raise awareness of issues and advance DEIB within our own internal group, within our existing and potential investment managers (and, where applicable, their own portfolio companies) and within our entire industry. We value and promote academic literature that documents the benefits of diverse teams in generating strong financial returns. Our team composition is nearly two-thirds women and half people of color, and we hope to lead by example in successfully delivering strong, long-term, risk-adjusted returns.

What advice would you give to other women looking to succeed in the investment industry?

  • Set up for success by establishing a strong base of people you respect and admire, who advise, support and promote you and your success – this should include your spouse as well as some family members, friends, mentors and co-workers.
  • Use Help where you can, find ways to outsource or offload certain tasks to make better use of your time, contribute to your well-being and maintain your sanity – remember that you don’t have to do everything yourself -same.
  • Find meaning and keep learning. Find a career and workplace you can be proud of, where you can see and appreciate the impact you are having; constantly seek and find opportunities to learn, grow and develop.

Mara R. Wilmoth