Director of Investment

Background

Invest Appalachia is a growing nonprofit, community-driven, collaborative impact investment platform dedicated to creating pathways for investment and collaboration in Appalachian communities. We use a combination of direct  investment via the Invest Appalachia Fund, Catalytic Capital program, and investment ecosystem development alongside local leaders, entrepreneurs, and residents to drive sustainable development and build community wealth. Our work focuses on revitalizing sectors in Central Appalachia, an area marked by economic transition, by cultivating strategic partnerships and accessible capital. Our investment vehicles are designed to advance positive and lasting community
impact in the areas of climate resilience and sustainability, equity, and community wealth-building.

Invest Appalachia serves the Appalachian counties of Kentucky, North Carolina, Ohio, Tennessee, Virginia, and West Virginia, and is governed by a regionally-representative board of directors. We are a nimble, collaborative, and primarily remote team based in Central Appalachia. To learn more, visit www.investappalachia.org.

Summary

The Director of Investment will play a pivotal role in ensuring the success of the IA Fund’s impact investment strategy by overseeing the entire investment process. This includes managing deal sourcing, the investment pipeline, collaboration with partner lenders, creative loan structuring, underwriting, closing, monitoring, and ongoing portfolio management.

You will also lead efforts to forecast financial outcomes and present key insights to the board, committees, and funding partners. The Director of Investment will be a key leader in shaping and building a community-empowering investment ecosystem in Central Appalachia, while ensuring compliance with all internal policies and relevant regulations.

Responsibilities

The Director of Investment will lead the management of the IA Fund, working closely with the CEO, Investment Associate, Director of Grants and Operations, Director of Community Impact managing the Catalytic Capital program, and investment partners to ensure the success and strategic growth of Invest Appalachia’s investment activities. This position reports directly to the CEO. This position and the below roles will be supported by an Investment Associate  position, who will be managed by and directly report to the Director of Investment.

Pipeline and Investments:

• Provide oversight and direction for all steps in the investment process including pipeline development, lead screening, information collection, memo preparation, underwriting, deal structuring and negotiation, closing, data collection, and impact tracking
• Lead loan structuring conversations, engaging partners and the Catalytic Capital program as appropriate
• Manage investment underwriting, using a combination of internal and outsourced capacity (supervising third-party contract underwriters)
• Develop credit memos and present recommendations to the Investment Committee at monthly meetings
• Prepare term sheets and/or commitment letters and distribute to borrowers
• Manage the investment closing and funding process, working with legal counsel, lending partners, and servicing contractor
• Regularly review IA’s investment policy for compliance and recommended updates

Portfolio Management:

• Ensure IA’s portfolio balances impact and risk, including across target sectors, geographies, and project types
• Provide oversight for loan review program, including risk assessments, credit quality, and Allowance for Loan Loss
• Manage modifications with borrowers and partners
• Evaluate the investment pipeline and portfolio to identify performance gaps; recommend actions for alignment
• Ensure documentation and analysis of key data and indicators. Communicate to other applicable staff (including Catalytic Capital and communications staff), partners, the Board of Directors, committees, and funders and investors

Fund Management:

• Inform capital calls and distributions with forecast data and analysis
• Manage third-party service providers for the IA Fund, including underwriters, legal counsel, servicing provider, fund administrator/accountant, auditor, and others
• Administer third-party service providers including managing contracts, reviewing and approving reports, reviewing and approving invoices, etc.
• Collaborate with other staff to update investor-facing materials, maintain the IA Fund’s virtual data room, and respond to investor inquiries as appropriate
• Prepare materials for, attend, and present at meetings with IA’s board, partners, affiliates, advisors, investors, etc.

Other:

• Supervise the Investment Associate position, including work plan management, ongoing collaboration, professional development, performance review, and more
• Review and provide feedback on reports and marketing materials
• Participate in field-building and educational efforts related to stakeholder engagement and capacity building
• Provide in-house advisory support for financial due diligence in other program areas
• Support planning, design, and development of new investment programs and vehicles
• Support management and strategy for Invest Appalachia’s involvement in the Greenhouse Gas Reduction Fund program (including as a sub-awardee)
• Provide strategic support for other in-house activities related to investment
• Contribute to the launch of future funds and investment vehicles

Requirements

The ideal candidate will be a highly skilled, strategic, and creative investment professional with a passion for fostering equitable economic development and creating impact in underserved communities. They should have strong leadership abilities, a deep understanding of investment strategies, an openness to pursuing creative deal structures, and the ability to work effectively in a dynamic, primarily remote team environment.

This position will receive onboarding and strategic support from the current investment manager contractor.

This position would ideally start by the end of February 2025.

Required Skill Sets:

• Investment Management: You have demonstrated experience in managing investment portfolios, structuring loans, underwriting, and closing deals.
• Financial Analysis & Forecasting: You have proficiency in financial modeling, forecasting, and analyzing income and expenses for investment portfolios.
• Compliance & Risk Management: You possess strong knowledge of compliance standards and regulations related to investment activities, and experience managing risk in investment portfolios.
• Stakeholder Engagement: You have the ability to communicate complex financial information to a range of stakeholders, including board members, funders, and community leaders.
• Leadership & Collaboration: You are able to lead a team, manage at least one direct report (investment associate position), and collaborate with cross-functional teams and community partners.
• Mission-Driven: You maintain a commitment to the values of community-driven development and building a sustainable investment ecosystem in Central Appalachia.
• Problem-Solving & Innovation: You use creative thinking to design new investment products, structures, and vehicles that can solve challenges related to capital access in Appalachia and other underserved communities.
• Remote Capabilities: You are comfortable working remotely, learning and embracing the use of remote work technology and tools such as Google Drive, Slack, Zoom, Slab, and others.

Preferred Skill Sets:

• Existing Regional Relationships: You have established relationships with investors, financial institutions, and community organizations in the region.
• Regional Context: You have prior knowledge of the economic landscape and investment opportunities in Central Appalachia.
• Data Skills: You are comfortable with performing data analytics and impact measurement.
• Sectors: You are familiar with major community development sectors, including IA’s targeted areas of clean energy, community health, housing, placemaking, downtown development, commercial real estate, community ownership, food & agriculture and more.

This is a full-time remote position. The ideal candidate will be based in Central Appalachia. Occasional overnight travel and in-person events will be required, primarily in-region but also including national events.

Compensation and Benefits

Invest Appalachia offers a competitive salary range of $110,000 – $130,000, based on qualifications and experience. We provide generous benefits, including high-quality health insurance including vision and dental, four weeks of PTO plus holidays, and a commitment to professional development.

How to Apply

Applications are due by midnight on January 27, 2024. Please submit your application via email to   [email protected] with the subject line “Director of Investment” and attach:

• A cover letter (pdf) detailing your interest in the position and relevant experience
• Your resume (pdf)
• Samples of investment documents you have helped produce, including fund structures, investment strategies, innovative loan products, reports, or financial models

For any questions about the role, please contact Mae Humiston at [email protected] or 540-339-6697.

All applicants will be notified via email regarding their interview status within two weeks of the deadline.