The Kresge Foundation has been utilizing social investments to complement its grant making activities for about 12 years. Since inception, the Foundation has invested over $300MM through the practice and there is strong executive and Board support to accelerate the Foundation’s use of non-grant forms of capital (debt, equity, guarantees, deposits).
The Portfolio Manager will work closely with Social Investments and Finance Department staff as well as other foundation employees and investee organizations to support the success of portfolio investments and assist in the ongoing learning, evaluation and asset management of transactions.
This position works with multiple stakeholders and the candidate must have the right blend of hard and soft skills. The ideal candidate will have a finance or banking related asset-management background, an understanding or expertise in non-profit financial statements and business models, an understanding of the social/impact investing sector and a passion to support the use capital to make a difference. Prior experience with social investing or private foundations is a plus, but not required. The candidate must have strong writing and communications skills as well as an aptitude for visualizing data, identifying trends, and distilling details into an insightful high-level view.
Externally, this position works with grantees, borrowers, investors, consultants, and legal counsel.
1. Closely manage an assigned subset of the portfolio and oversee management of other subsets managed by analysts or other staff
2. Ensure a high degree of accuracy for all information provided to internal stakeholders
3. Foster strong relationships with portfolio investees and partners across the foundation
4. Together with analyst(s), ensure receipt of required investee reporting
5. Review investee reports for material changes or investee requests
6. Analyze financials and other information to ensure fidelity to investment terms, distill learnings and to monitor the health of investee organizations
7. Participate in, and oversee, the periodic investment review and risk rating processes for all investments and make investment level, and portfolio-wide reserve recommendations
8. Work with other functional areas of the foundation to maintain forecasts of disbursements and guarantee payments and track new investment activity.
9. Produce quarterly reporting including portfolio reports, cash-flow, disbursement, and guarantee payment projections
10. Support the careful monitoring and intensive analysis sometimes required for watch-list investments
11. Serve as the team-lead on ensuring investment actions are properly documented and recorded in the foundation’s internal systems
• B.A. in related field, advanced degree preferred.
• Five to seven years’ experience in banking, finance, community development finance or related fields.
• Experience monitoring portfolio investments to ensure fiduciary and investment responsibilities are being met.
• Demonstrated ability to take personal responsibility for the quality and timeliness of work.
• Demonstrated ability to build and maintain effective and constructive working relationships and partnerships.
• Strong investment acumen and successful track record of managing investments.
• Strong interpersonal and communication skills necessary to interact as a team member with diverse Foundation colleagues.
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