Executive Director

Company: Fund for Jobs Worth Owning

Locations: Northampton, MA; New York City, NY; Remote, All

Job Function: Business Development


Background

Created by The ICA Group, the oldest national organization dedicated to the development of worker cooperatives, the Fund for Jobs Worth Owning (FJWO) is an aspiring CDFI driven to provide dynamic financing solutions for employee-owned companies and worker-centered initiatives. We aim to fill the significant gap for risk capital to support and strengthen worker-owned and worker-centered businesses by providing flexible financing backed by robust technical assistance, enabling projects to close when they otherwise would not. FJWO is poised for significant organizational growth with its unique mission, strong capital base, and ample demand for its programs and resources.

The ICA Group is a leading expert on worker ownership and the oldest national organization dedicated to the development of worker cooperatives. We are a mission- driven nonprofit organized as a worker cooperative and are dedicated to bringing strategic analysis and industry-focused support to the worker ownership sector. Our business expertise is bolstered by a deep understanding of worker ownership and other worker-centered structures, and a commitment to serving low-wage workers and communities of color.

The Fund for Jobs Worth Owning & The ICA Group are rapidly growing nonprofits. All staff members are expected to help build organizational capacity, processes, and culture. The ICA Group has offices in New York City and Massachusetts and a hybrid remote/office work culture, although due to Covid-19 most are currently working from home. We utilize technology and virtual meetings on a daily basis, and prior to Covid-19, held quarterly in-person meetings. Our staff enjoy highly satisfying work in a diverse and stimulating environment. We are committed to a workplace culture that supports work-life balance and flexibility for working parents and other caregivers. 

At the Fund for Jobs Worth Owning, we value equity, diversity, and inclusion. We believe that in order to build a new economy where working people lead and own democratic workplaces, leaders in cooperative development must reflect the communities they serve. We support equitable opportunities for all people and we strongly encourage candidates from diverse backgrounds, people of color, women, individuals from the LGBTQIAA+ community, and others who identify as a part of historically marginalized communities to apply for open positions at the ICA Group.

Summary

The Fund for Jobs Worth Owning seeks its inaugural Executive Director! Our ideal candidate is an entrepreneurial leader capable and ready to boldly grow the organization and champion it across sectors. They are a fundraising aficionado with a strong track record of raising capital from impact investors and philanthropy. Their personal commitments to racial equity and workers rights shine brightly in professional experience.

Reporting to the ICA Executive Director, the FJWO Executive Director will assume overall strategic, operational, and financial responsibilities for The Fund for Jobs Worth Owning. They will have the vision and skills to communicate and execute the mission; and foster financial strategy and acumen to support growth and success of the Fund.

The FJWO Executive Director will closely collaborate with ICA leadership and staff on organizational strategy and a theory of change that runs across both organizations. In addition to growing and developing the fund, including capital raising, organizational development and long term strategy, the FJWO Executive Director will help organize capital for ICA projects, catalyzing the investment that brings new ventures to life and scales the cooperative sector. In turn, ICA will lend its 45 years of experience providing technical assistance to mission-driven organizations to FJWO, creating opportunities to invest in jobs worth owning, and providing deep support to our borrowers to ensure business success and loan repayment

This position involves a blend of capital raising, financial and credit expertise, nonprofit leadership history, and employee ownership market awareness. The FJWO Executive Director must have strong financial, writing, fundraising, public speaking, public relations, organizational management, leadership, and planning skills. They must be able to work in both the employee ownership community with partners that bring diverse backgrounds and skills as well as in the financial marketplace of CDFIs, banks, foundations, and impact investors. They should be skilled organizers able to bring people together across multiple areas of expertise and diverse cultures. This position requires creative partnership development skills, as well as a demonstrated commitment to social, economic and racial justice.

This is a hybrid position that can be based out of the FJWO’s offices in Northampton, MA or New York City, NY with the option of remote work within the United States for the appropriate candidate. We are also seeking to establish a new office in Washington, D.C. This position requires traveling within the United States about six times a year (when safe to do so, considering COVID restrictions).

Responsibilities

  • Leadership (40%):
    • Serve as an ambassador for FJWO, developing and deepening strong relationships with impactful organizations and individuals that can influence the work of the organization.
    • Grow the employee ownership financing sector by bringing in new lenders and encouraging existing CDFIs, banks, and foundations to deepen their commitments.
    • Closely collaborate with leadership and staff at The ICA Group to deliver on a common vision and mission, ensuring that strategic direction is aligned across both organizations.
    • Engage with the FJWO Board of Directors to assess, develop, and implement the organization’s mission, strategy, and structure. 
    • In partnership with the FJWO Board, create and monitor appropriate and ambitious multi-year financial plans and annual budgets.
    • Develop and coach staff while building an innovative, inclusive, and pro-worker culture.
  • Fund Capitalization (30%):
    • Identify, pursue, and raise investment capital from foundations, family offices, high-net-worth individuals, and other impact investors to increase the base of capital for investing, ensure ongoing operations, and organizational sustainability.
    • Develop an investment strategy that supports FJWO’s mission of providing worker-centered financing in partnership with the Director of Lending.
  • Operational Fundraising (10%):
    • Cultivate and oversee an effective fundraising strategy to maintain and grow the organization’s programs and staffing.
  • Communications and Events (10%):
    • Oversee the dissemination of FJWO’s mission, values, achievements, and goals through various forms of media to increase national awareness about the organization’s work.
    • Collaborate with staff and the Board of Directors to develop and refine messaging that reflects the organization’s priorities and will resonate with target audiences.
    • Develop marketing materials to leverage with our potential partners, investors, funders, and allies.
    • Manage the conception and execution of events to highlight FJWO’s work.
  • Management and Operations (10%):
    • Work with ICA leadership to create a collaborative work environment with opportunities for shared learning, resourcing, training, and professional development.
    • Work with staff and the FJWO Board of Directors to manage necessary business and financial responsibilities, structures, policies, and reporting.
    • Report regularly to FJWO investors on programmatic outcomes and performance.
    • Engage and support the Board and advisory committees in fulfillment of their responsibilities, guidance and oversight.

Requirements

  • Demonstration of strong personal interest, knowledge, and passion around employee ownership, community economic development, and workers rights.
  • Demonstration of commitment to anti-racism, inclusive leadership, and embedding equity, diversity, and inclusion into all aspects of the organization.
  • Demonstrated entrepreneurial aptitude to successfully manage organizational growth, especially for new, early-stage funds like FJWO; willingness to ‘roll up your sleeves’ to get the job done and provide on-the-ground support to FJWO operations.
  • Proven track record of raising investment capital and operating support.
  • At least 8 years of professional business finance experience, ideally within the  cooperative sector, economic development, community organizing, or other related field; experience in the CDFI (Community Development Financial Institution) sector is strongly preferred.
  • At least 8 years of director or management-level experience.
  • Graduate degree in business, finance, or another related field is preferred. At least 10 years of professional experience in banking or other community lending may substitute for an advanced degree.
  • Demonstrated broad knowledge within the small business lending field.
  • Demonstrated ability to negotiate effectively and form partnerships with both private and public sector financing entities.
  • Demonstrated record of successful financial management, including P&L responsibilities.
  • Demonstrated strong strategic planning and financial analytical skills.
  • Outstanding skills in interpersonal relations, public speaking, and oral and written communication.
  • Demonstrated ability to work with clientele of wide ranging cultural background, educational level, and socioeconomic status.
  • Ability to work independently, with strong time management skills, as well as an ability to collaborate with a close-knit group. 
  • Proficiency with Google Suite and Microsoft Office applications including Word, Excel and PowerPoint. 
  • Excellent written and verbal communication skills in English; bilingual is a plus.
  • Valid driver’s license and required use of a private and reliable automobile.

Compensation and Benefits

The salary range for this position is $95,000 to $105,000. The Fund for Jobs Worth Owning uses a salary scale and the specific salary within that range is determined by years of experience. We also provide a generous benefits package including 4 weeks of paid vacation, 12 paid holidays, 8 days of paid sick leave, and employer sponsored and supported health insurance. In addition to holidays, FJWO’s offices are closed the week between 12/25 and 1/1 each year, as additional paid time off.

How to Apply

Apply at ICAGroup.org/Careers