Associate Director, Program Related Investments

San Francisco, CA
Full Time
Experienced

Associate Director, Program-Related Investments 

Location: San Francisco, CA  Department: Finance Type: Full-time, Exempt  Min. Experience: Mid-level 

The Semi-monthly compensation for this position in FY25 is: $7,013.50 per pay period

Organizational Result: 

All people living in the San Francisco Bay Area are economically secure, rooted in vibrant communities and engaged in civic life. 

We Value: 

Anti-racism, Boldness, Equity, Racial Justice, and being Rooted in Community 
 

The following sections are designed based on the Results Based Leadership for Racial Equity Framework that the Foundation uses to accomplish our work. As a learning organization, we expect staff to incorporate learning into their core work and the tasks related to the functional position. All staff should expect to devote time to learning activities related to our values and skillset development. People managers should expect to spend a significant amount of time coaching, developing, and managing people with the balance of the time for all staff spent on relationship building internally and externally and achievement of outcome goals of role and foundation. 

Position Summary: 

The Associate Director, Program-Related Investments position is an FTE position that manages the foundation’s program-related investing, including the Bay Area Community Impact Fund (“BACIF”). BACIF is an impact investing fund focused on Bay Area non-profits and projects, utilizing capital from the foundation’s endowment and donor advised funds. Presently, the foundation has $100 million of committed loan facilities outstanding to more than twenty borrowers across the Bay Area. 

Boundaries 

The Associate Director is responsible for furthering the foundation’s goal of greater alignment of its investments with the foundation’s Equity Agenda. This position has a diverse set of responsibilities centered on growing and effectively managing our Program-Related Investments (“PRI”) portfolio, including new investment diligence, fund liquidity management, investment portfolio servicing and monitoring, impact reporting, communications, and presenting to the governing Board committee. 

Authority 

The Associate Director is responsible for the management of BACIF, and other PRIs made on behalf of donors. The position reports to the Senior Director of Investments, within the Finance Department. The Associate Director also collaborates with colleagues from several departments, including Community Impact, Philanthropy and Gift Planning, and Marketing & Communications. The CFO oversees the PRI program, while the Board PRI Committee plays a governance role. 

Role 

  • Ensures that the PRI portfolio consists of loans and non-loan investments that are prudent, impactful and align with SFF’s Organizational Result. Partners with Senior Director of the Place Pathway who is responsible for generation of deal flow and the first stage of deal review to ensure fit with PRI mission criteria.   
  • Helps donors understand the impact and importance of PRIs so they increase their investments in BACIF and feel connected to the foundation. 
  • Facilitates strong collaboration between relevant SFF departments and stakeholders so that staff are educated on the PRI program as it pertains to their work. 
  • Provides the PRI Committee with information on new and existing investments to facilitate sound decision making and governance. 
  • Ensures effective liquidity management and modelling of the BACIF pooled fund. 
  • Grows the field of impact investing by communicating successes and learning externally.  
  • Preparation of assigned audit schedules requested by auditors. 
  • Assists with development and implementation of new systems to manage the PRI program (as required) 

Tasks 

  • Tracks non-loan investments in the BACIF portfolio (e.g., deposits at community banks) 
  • and makes recommendations for new non-loan investments. Facilitates periodic renewals of these investments. 
  • Conducts diligence (financial and organizational) on potential new loans, via close collaboration with non-profit applicants and review of materials. 
  • Writes credit memos and presents them to the PRI Committee. 
  • Works with outside counsel to draft and negotiate loan agreements with new borrowers. 
  • Tracks and communicates (written and verbal) BACIF financial position, earnings, and cash flow. 
  • Collaborates with SFF’s Philanthropy and Gift Planning staff and SFF donors to facilitate and underwrite donor-initiated PRIs. 
  • Writes (and presents) quarterly financial and program update report for the PRI Committee. 
  • Tracks and communicates (written and verbal) impact of BACIF investments, including contributing to the foundation’s impact reports and blogs. 
  • Represents and communicates about the PRI program to staff and external audiences. 
  • Organizes and facilitates regular internal BACIF staff team meetings. 
  • Supervises 20% of FTE Financial Analyst position. 

Competencies & Qualifications  

  • Minimum of 6+ years of professional experience in community, commercial, or private lending in the non-profit, philanthropic, public, or private sector.  
  • Highly skilled in analyzing non-profit financial statements and building financial models.  
  • Skilled at communicating findings and recommendations to constituencies with varying levels of financial acumen (verbal and written).  
  • Excellent analytical and writing skills.  
  • Strong interest in impact investing.  
  • Familiarity with local and regional community development financial institutions, community banks, and nonprofit organizations preferred.  
  • Impact investing experience preferred.  
  • An undergraduate degree in finance or business-related field or master's degree, preferred.  
  • Life experience in one or more communities where SFF targets its programs is a plus. 

Technical abilities and skills  

  • Intermediate to advanced computer/software skills, including Microsoft 365 (Outlook, Word, PowerPoint, Excel, & Teams) and Zoom.  
  • Ability to learn, navigate and manage online platforms, including Fluxx, Qlik sense, Smartsheet, Salesforce, and Power Plan 
  • Familiarity with implementing new systems is a plus 
  • Familiarity with AI software and capabilities is a plus 

We are dedicated to building a diverse, inclusive and authentic workplace, so if you’re excited about this role but your past experience doesn’t align exactly with every qualification in the job description, we encourage you to apply anyway. You may be just the right candidate for this or other roles.  

Compensation: The San Francisco Foundation offers a very competitive total compensation package including base compensation in alignment with our organizational budget size and rich medical and fringe benefits offerings. This position pays $7,013.50 per pay period. You may read more about our compensation philosophy and benefits on the career page.  

Remote Work Policy: The Foundation has adopted a long-term hybrid in-person and remote work policy. Dedicated to its employee health and safety, The Foundation will continue to make decisions in accordance with San Francisco County and California mandates. Employees must reside or plan to relocate within the San Francisco Bay Area.  

Requesting Accommodations: The Foundation is committed to the full inclusion of all qualified individuals. As part of this commitment, The Foundation will ensure that persons with disabilities are provided reasonable accommodations. If reasonable accommodation is needed to participate in the job application or interview process, to perform essential job functions, and/or to receive other benefits and privileges of employment, please contact [email protected].  

The San Francisco Foundation is an equal opportunity employer and encourages people of diverse backgrounds to apply. 

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