The Senior Director for Investments is responsible for building and managing Heron’s High Conviction Portfolio. This program is integral to Heron’s plan to empower persistently poor rural communities across the U.S. while rewriting the playbook for national funders working in community advancement.
The Senior Director (SD) will have primary responsibility for managing Heron’s investable asset base–currently approximately $330 million. The lion’s share of these assets (approximately $240 million) will be transferred into community over the next 8 years, so the SD must help Heron to manage marketable, liquid investments that are mission aligned. At the same time, the SD will assemble a portfolio of approximately $90 million of Direct Community Investments, prioritizing communities where our community partners are active. Throughout this transition and beyond, Heron will continue to align all of its investments with its mission and will use Net Contribution expectations to guide its decision-making.
The SD will be an inspirational leader motivated by the challenge of developing innovative portfolio management criteria and systems with fiduciary rigor, while also inspiring other entities with significant financial capital to co-invest with Heron and co-create the future of mission investing and community advancement.
The SD will be an integral member of Heron’s senior management and will supervise an investment professional as well as Heron’s Investment Consultant.
This document focuses on the management of Heron’s High Conviction Portfolio, but candidates should understand that Heron staff work closely across programs in service to communities. In addition, Heron is a resourceful, dynamic nonprofit enterprise, so its strategies and practices will necessarily adapt and evolve over time. The following description will evolve and be co-created by the SD over time.
Job Description
The Senior Director for Investments will play a central role in the development and execution of Heron’s transformation strategy. The SD will work with Heron’ senior management and report to Heron’s Managing Director of Finance and Administration. The SD will be responsible for internal and external leadership, portfolio development, and investment management.
Summary of Key Responsibilities:
Internal Leadership
- Work collaboratively to promote a culture that reflects Heron’s values and that positions Heron to evolve beyond private foundation orthodoxy.
- Contribute to the development, refinement and communication of Heron’s strategy, especially the management of the High Conviction Portfolio and the deployment of investments in priority communities.
- Present portfolio performance information and investment recommendations to the Heron Investment Committee and Board of Directors as needed.
- Work with senior leadership to plan for funding of charitable distributions and operating expenses through portfolio returns and capital.
- Consistently demonstrate values called for by the Heron mission and Heron’s Team Qualities.
- Supervise Director of Portfolio.
External Leadership
- Communicate Heron’s strategy, practices, and results to community stakeholders, other investors, funders, and other stakeholders.
- Be a resource to Community Capitals Partners by sharing perspective and information on investment trends, structures and opportunities.
- Assist Heron staff and board in attracting additional resources to Heron or to co-invest in alignment with Heron.
Portfolio Development
- Work with Investment Consultant and Board to revise Heron’s portfolio model to support transfer of approximately $240 million of assets to Community Capitals Partners and retention of $80-$90 million of core Direct Community Investments (DCI).
- Develop criteria for DCI and work with the Director of Portfolio to source, underwrite, and monitor portfolio of $80-90 million focused on benefiting priority communities.
- Ensure that Heron’s investments have demonstrable impact through applying Net Contribution analysis.
- Maintain relationships with fund managers, investors, and capital allocators to ensure Heron has access to high-quality and innovative investments.
Investment Management
- Manage relationship with Investment Consultant including hosting regular meetings to review investment strategy and monitor portfolio performance.
- Communicate investment performance to senior leadership and to the Board.
- Manage relationship with Custody provider and ensure timely and complete communication of investment performance and investment fees.
- Help ensure efficient management of portfolio by optimizing number and cost of internal and external fund managers.
- Chair regular team and staff meetings to review investment strategy and monitor portfolio performance.
Desired Skills and Experience
- Deep understanding of capital markets and investment management, including management of investment consultants and assessment of fund managers.
- Proven ability and experience in financial analysis and research, deal structuring and underwriting, and negotiation of terms of investment.
- Exceptional skills in strategy development, enterprise management, and project management.
- Experience with government or civic finance essential. Familiarity with philanthropy and nonprofit management desirable, but not required.
- Excellent verbal and written communication skills including presentation skills and comfort communicating with diverse constituencies.
- Leadership skills and the ability to effectively coach, manage, mentor, and support staff to achieve their goals and develop their capacities.
- Strong passion for and commitment to the mission and values of Heron.
- Respect for diverse perspectives and the ability to navigate and balance conflicting ideas.
- Flexibility and comfort in navigating ambiguity and changing situations.
- Bachelor’s degree required; advanced degree or certification strongly preferred (e.g. MBA, CFA).
- A willingness to travel 2-3 times per month, including travel to rural areas where Heron’s capital will be deployed. Travel will also be required to Heron’s principal offices in the Southeast and Northeast.
Position Salary and Benefits
Salary range of $180,000 to $215,000 based on skills and experience. Heron offers an attractive benefits package. The position is remote with regular travel.
To Apply
Interested candidates are encouraged to apply through this link: click here to apply. Otherwise, candidates can send an email with the subject line “Senior Director for Investments” to hr@heron.org with an attached cover letter and resume.
Attachments
- Heron Operating Categories–Mission & Vision
- Heron Team Qualities