As part of the GIIN’s mission to accelerate the scale and effectiveness of impact investing, we publish job openings from members of the GIIN Investors’ Council and other impact investing leaders.

Impact Investing Fellow

at Impact Management Project / Impact Frontiers in Boston, Massachusetts

About the Job

About the Efficient Impact Frontier Collaboration:
The Efficient Impact Frontiers Collaboration (EIFC) is a community of leading impact investors dedicated to developing innovative ways to quantitatively and holistically integrate measures of social and environmental impact alongside financial risk and return into their investment practices. The EIFC is led by Mike McCreless, who conceived and founded it within Root Capital, a social investment fund focused on agriculture in Africa and Latin America.

The ‘efficient impact frontier’ is an approach to quantitatively integrating social and environmental impact alongside financial risk and return in investment decision-making. Mike and Root Capital published the approach in an article titled “Toward the Efficient Impact Frontier” in Stanford Social Innovation Review, and a paper with the Impact Management Project (IMP), titled “Constructing a portfolio on the efficient impact frontier within one asset class.”

In April 2018, with support from the MacArthur Foundation and the Metanoia Fund, Mike convened a cohort of impact investors to translate and implement the approach for themselves over the course of a two-year learning and innovation collaboration (namely, EIFC). Each investor is developing its own tools for assessing the expected impact of proposed investments, loans, or guarantees before financing decisions are made; for comparing expected impact to the expected financial risk and return; and for setting integrated impact and financial goals for their portfolios.

The financial institutions that are partners in the collaboration include:
• US community development financial institution managing ~$1 billion
• US community development financial institution managing ~$60 million
• Non-profit investment firm managing $350 million
• For-profit diversified financial institution with $1 billion impact investing fund
• For-profit global investment manager with $500 million impact investing fund
• Non-profit capacity development provider with $1 million impact loan fund
• Impact fund that deploys capital across the spectrum of grants, direct loans and investments in companies, and grants
• Multi-lateral development bank

In April 2019, the EIFC migrated from Root Capital to the Impact Management Project, which is a forum in which investors are building global consensus on how to measure, manage and report the impact of their investments. In addition to leading the Efficient Impact Frontiers Collaboration, Mike serves as Head of Investor Adoption for the Impact Management Project.

Position Overview:
The Collaboration is looking for an Impact Investing Fellow that will work alongside Mike to provide support to specific partners, and to draw out and synthesize broader lessons about impact investing from the cohort as a whole for articles to be submitted to Harvard Business Review and Stanford Social Innovation Review. The Fellow will report to Mike, but will work closely and independently with many of the partners.

The fellow will be responsible for collecting, synthesizing, and drafting publications based on the work of EIFC partners over the past 18 months. EIFC partners’ work includes but is not limited to:
• Developing impact ratings for individual investments and loans
• Developing measures of risk-adjusted financial return for individual investments and loans
• Using data from 1) and 2) to analyze the relationships between impact and risk-adjusted financial returns.
• Using data from 1) and 2) to inform investment policies, processes and systems, as well as internal and external communication

The Fellow will be responsible for reviewing partners’ work and extracting commonalities and differences and identifying best practices (in line with existing principles and standards) from across the cohort for publication as a suite of articles, toolkits, and methodology guides at the conclusion of the two-year collaboration in 2020. The review will cover methodology, governance, processes and systems, and data as available.

In addition to previous experience in impact investing and/or impact management, the ideal fellow will be an exceptional writer and have experience communicating complex concepts in an accessible and compelling way to practitioners in a variety of media (e.g., articles, case studies, infographics, websites, podcasts, animated shorts, etc.).

The Fellow will also work with Mike to design a longer-term initiative that will launch in 2020 to scale up the work of the EIFC. This business planning work will include product design, marketing, branding, budgeting, and fundraising. There is potential for the fellowship to transition into a full-time position in this initiative upon its launch in 2020.

This fellowship is an opportunity for the right candidate to develop broad and deep expertise in impact investing in a short period of time. It will provide an excellent preparation for a wide variety of future positions, as well as introductions to many leading individuals and organizations in the field.

This is a full-time contract position to begin in September or October 2019 and last for six months. Compensation will be $800 / week. The position will be paid through the Bridges Impact Foundation, which also houses the work of the Impact Management Project in the United States.


• Minimum of three years post-undergrad, ideally in a top-tier management consultancy or financial institution
• Undergraduate degree in economics, statistics, business, public policy, or related field
• Exceptional ability to express complex analyses and concepts in writing and in Powerpoint presentation
• Strong data analysis skills
• Client relationship management skills
• Demonstrated interest and aptitude for impact investing and / or social enterprise
• Highly organized and strong attention to detail
• Ability to work highly independently and with collaborators from diverse backgrounds and with diverse skill sets
• Applicants must be authorized to work in the United States

Bridges Impact Foundation and the Efficient Impact Frontiers Collaboration are committed to providing equal employment opportunities and do not discriminate in employment on the basis of race, color, religion, sex (including pregnancy and gender identity), national origin, political affiliation, sexual orientation, marital status, disability, genetic information, age, retaliation, parental status, military service, or other non-merit factor.

To apply

Email CV and cover letter to Michael McCreless at

Impact Management Project / Impact Frontiers

(see above for organization description)