About the Job
This role will report to the Manager, Design Funding. The Associate or Senior Associate will be instrumental in executing on Convergence’s Design Funding strategy and contributing to the overall growth of an innovative start-up in the development finance space. The Associate or Senior Associate will support all Design Funding activities, including screening applications, conducting desk research on shortlisted applications, facilitating quarterly Funding Approval Committee meetings, completing due diligence on selected applicants, and monitoring grantee design activities. The Associate or Senior Associate will assist in reporting to funders and fundraising efforts for the Design Funding program.
The responsibilities below reflect a hire at the Senior Associate level and would be adjusted for an Associate hire. Together with the Design Funding Manager, the Senior Associate will:
- Manage incoming Design Funding applications and prepare them for review by management
- Support review of Design Funding applications by conducting initial review of applications, participating in review meetings, and conducting desk research on shortlisted applications
- Manage communication with Design Funding applicants relating to the status of their application
- Review and provide feedback to applicants on draft application proposals
- Review and provide recommendations to management on proposals to be shortlisted for further due diligence
- Conduct due diligence on shortlisted proposals
- Prepare memos and presentations for quarterly Funding Committee meetings
- Support management in presenting recommended proposals to Funding Committee
- Join quarterly Funding Committee meetings and ensure discussion points and decisions are documented
- Support in structuring and negotiating terms, conditions, and milestones of funding agreements
- Prepare documents for final Board approval
- Report key metrics and results of the program to funders
- Develop strong relationships with grantees by scheduling frequent check-ins, monitoring progress against milestones, and providing guidance and advice to ensure their success
- Represent Convergence at industry events and conferences
- Lead development of funding award announcements, including press releases and blog posts
- Lead development of case studies on vehicles developed through the program
Engagement / Fundraising:
- Assist with pipeline development for new proposals (e.g., marketing funding window opportunities, identifying organizations to engage with and encouraging applications)
- Support management team in engaging with prospective applicants and donors (e.g., development agencies, foundations)
- Support (and in some cases, lead) development of concept notes and proposals to donors
In addition to the responsibilities above, the scope will evolve over time to match the needs of a growing start-up.
The Design Funding Program is currently focused on Asia and the candidate should be open to flexible working hours to facilitate engagement in Asia. Occasional travel may be required.
We are looking for candidates with 4+ years of experience (2+ for the Associate level) in some combination of finance, investment/corporate banking, impact investing, deal experience, or grant making. The ideal candidate will have:
- Bachelor’s degree in business, economics, international development, or a related field; excellent academic record
- Previous experience, preferably deal experience, in finance, investment/corporate banking, impact investing, or grant making, that demonstrates understanding of advanced finance concepts and track record of conducting due diligence
- Demonstrated strengths in analytical capabilities (quantitative and qualitative); communications that present information in an insightful and structured manner (especially written); and detail-oriented project management
- Self-starter with excellent interpersonal skills
- Able to work in a small entrepreneurial team environment as a collaborative partner
- Demonstrated interest in development finance and developing countries
- Foreign language skills are a plus
Candidates should be eligible to work in Canada.
Interested and qualified applicants should send a single PDF document containing a cover letter and CV to firstname.lastname@example.org, with Associate / Senior Associate, Design Funding in the subject line. We are looking to hire quickly and so will be reviewing applications on a rolling basis; applicants are therefore encouraged to apply as soon as possible. Please note that due to the high volume of applications, we will only contact applicants selected for an interview.
Convergence is the global network for blended finance. We generate blended finance data, intelligence, and deal flow to increase private sector investment in developing countries. Blended finance is the use of catalytic public or philanthropic capital to increase private sector investment in places that need it most. Convergence’s global membership includes public, private, and philanthropic investors as well as sponsors of transactions and funds. Members include institutions such as MacArthur Foundation, FinDev Canada, the Nature Conservancy, and Credit Suisse. Convergence offers its members a curated, online platform to connect with each other on blended finance transactions in progress, as well as exclusive access to original market intelligence and knowledge products such as case studies, reports, training, and webinars. To accelerate advances in the field, Convergence also provides grants through its Design Funding program, for the design of blended finance vehicles that could attract private capital at scale to global development.