About the Job
RSF’s Investments History:
In 2006, RSF developed one of the first 100% institutional impact DAF portfolios in the industry. This impact portfolio was diversified across asset-classes including short-term cash managers, fixed income, direct equity investments, and the vanguard of impact private equity and venture capital. Historical performance of this portfolio over the last decade has demonstrated a correlation between financial performance and social and environmental impact.
Since 2006, RSF’s Donor Advised Fund (DAF) has grown significantly and now sits at a balance of roughly $70MM. Significant parts of the original portfolio have turned over and the carve-outs of the portfolio that were invested in long-tenured investment classes, such as venture capital and private equity, are organically winding down as those funds reach maturity. This presents a unique opportunity to develop a new investment strategy at RSF, one that will advance the industry towards generating deeper long-term social and environmental outcomes, rather than output measurement. Our intention is to evaluate and onboard investment positions that demonstrate scalability, community engagement, and outcomes rigor in evaluating social and environmental impact.
Scope of the Investments Manager’s Role:
Reporting to the Director of Investments, the Investments Manager will help design and then manage the execution of RSF’s new investment strategy to optimize the impact of philanthropic DAF assets through due-diligencing, structuring, and making recommendations on capital deployment. This highly technical investment management role is a unique opportunity for a candidate with traditional finance and investing experience to career switch into the rapidly growing impact investing space. This role will also help advance the impact investing industry into the development of a 100% impact portfolio that is focused on delivering measurable outcomes.
Support refreshing RSF’s Investment Policy Statement (IPS): The Manager will provide a perspective on refreshing RSFS’s existing IPS, outlining RSF’s general rules as an investment manager and guidelines for financial stewardship on behalf of RSF’s investors. Over time, the Manager will drive analysis around the historical performance of the portfolio on a dynamic basis, plotting out the efficient frontier of impact vs. risk-adjusted return.
Enable re-investment of the DAF portfolio: In partnership with the Philanthropic Services team, the Investments Manager will be responsible for developing a point-of-view on which key DAF client segments RSF should target for greater DAF growth (i.e. institutional vs individual, family offices, millennials), and outlining the investments strategy to DAF donors as appropriate. The Manager will be responsible for sourcing investment pipeline, conducting due diligence, and making formal investment recommendations to the Investment Committee, with the goal of balancing the allocation of the DAF portfolio across asset-classes and risk profiles, while simultaneously appealing to various growth segments. Over time, the Manager will have the opportunity to not only source fund investment opportunities, but also social enterprises that need direct investment from RSF.
Managing internal and external governance: In partnership with the Director of Investments, the Investments Manager will define the strategy, develop materials, and coordinate both RSF Social Finance’s internal Investment Committee, and the external Investment Advisory Committee, which includes:Fran Seegull, Executive Director of US Impact Investing Alliance at Ford Foundation Preeti Bhattacharji, Vice President of Integrated Capitals at Heron Foundation Julia Sze, Professor of Social Enterprise at UC, Berkeley, Haas School of Business Leslie Christian, Senior Advisor to RSF, former President & CEO of Portfolio 21 Kristin Hull, Founder and CEO of Nia Impact Capital
Define impact outcomes standards for Investments: A top candidate will have both a traditional investing skillset, and a strong demonstrated passion for impact measurement. The Investment Manager will be well positioned to partner with the CEO’s office to drive a new approach towards impact measurement at RSF. This new approach should reflect the significant advancements in impact measurement that is occurring across the broader impact investment and development finance industries. A background, or strong grounding, in results-based-financing and outcomes measurement will be considered favorably.
Compensation & Benefits:
Salary commensurate with experience and level of responsibility. Other benefits include:
Ideal Candidate Requirements:
Relevant graduate/undergraduate degrees (i.e. MBA, M. Fin) and accreditations (CFA, CPA, Series 7, 63) are considered favorably but are not required.
Mandatory qualifications include a track-record of:
Demonstrated analytical rigor and strategic thinking. This should be evidenced by a minimum of 4 years of relevant full-time work, ideally in a traditional finance or investing role.
A commitment to social change and a strong passion for rigorous evidence-oriented impact measurement.
Strong communication skills.
The ability to articulate the complex financial concepts underling double and triple-bottom line investing, and to simplify/translate those concepts to non-technical audiences.
Being a collaborative team player and creative thinker.
Please email send your application to: HR@rsfsocialfinance.org with the subject line “RSF Investing Manager Role,” including your full name. Within the email, please attach:
Please note that applications without a cover letter will not be considered.
RSF Social Finance is an equal opportunity employer. Candidates representing a diversity of race, color, religion, sex, national origin, sexual orientation, and gender identities are encouraged to apply.
Applications for this role will be considered and interviewed on a rolling basis. No phone calls, please.
RSF Social Finance is an equal opportunity employer; candidates representing a diversity of backgrounds are encouraged to apply.
RSF Social Finance
At RSF Social Finance, we bring our individual passions, experience, and skills to meet the needs of others through innovative and integrated investing, lending, and giving services that generate positive social and environmental impact while fostering community and collaboration among participants.