Vice President, Impact Investments
Company: TruFund Financial Services
Location: New York, NY
Job Function: Investment
Background
TruFund Financial Services, Inc. (TruFund) is a national Community Development Financial Institution (CDFI) with offices in New York City; New Orleans and Baton Rouge, Louisiana; Atlanta, Georgia; Houston and Dallas, Texas; and Birmingham, Alabama. Established in 2005, TruFund is a nonprofit organization dedicated to expanding access to capital and business support services for entrepreneurs who face systemic barriers to traditional financing. Through strategic investments and tailored technical assistance, TruFund fosters the growth of resilient small businesses and cultivates vibrant local economies across the communities it serves.
Summary
The Vice President will be responsible for helping the SVP manage and run the day-to-day investment operations of IDF as well as help out in the unit as necessary with other initiatives. With respect to the investment process, this will include pipeline development, underwriting and structuring of transactions, negotiations with potential investees, as well as oversee other team members working on the investment process. The VP will also help with presenting to executive management and managing existing investments. Finally, the VP will support IDF fundraising activities and as applicable help with the development and creation of new products and future equity investment opportunities. Specifically, we are seeking a financially skilled and experienced impact investment professional who is willing to lead and take initiative but also be a team player and wear multiple hats in a small, lean, growing team.
Responsibilities
· Help with investment pipeline generation.
· Oversee equity underwriting process; review (and craft as necessary) equity investment memos; present to executive leadership, investment committee review and approval; manage other team members in this process to meet deadlines
· Structure equity investment transactions
· Work with legal counsel on deal documentation
· Negotiate with and manage relationships with investees.
· Manage relationships with third-party vendors and consultants.
· Lead investment closing process.
· Oversee portfolio management of closed investments.
· Communicate with investors as necessary.
· Work collaboratively with other departments within TruFund.
· Represent TruCapital in partnership meetings with external funders and stakeholders which may include presenting formal pitches
· Create and update the required financial management and reporting infrastructure as necessary.
· Review fund financial statements and oversee fund audit, including fund valuation, as necessary.
· Attend industry events and represent TruFund/Impact Developers Fund
· Act as a mentor to other team members and as a role model
Requirements
· Prior experience underwriting and managing enterprise-level equity investment structures required; formally credit trained or ability to underwrite and manage debt structures preferred.
· Minimum of 7 years in commercial banking, equity investments, commercial real estate, real estate private equity, affordable housing finance agencies, community development or social impact investing
· Strong track record in affordable housing sector (either lending and/or tax credit syndication) along with strong relationship building skills; familiarity with LIHTC structures preferred.
· Familiarity with fund-level financial review/working with third-party auditors.
· Prior experience helping raise capital and interacting with investors is preferred
· Bachelor’s degree required. Masters in Public Administration, Management, Business Administration, Finance or Real Estate preferred
· Strong verbal and written communication and presentation skills required
· Strong attention to detail and expertise with Microsoft Office required
· Ability to think creatively and solve problems.
· Capacity to work independently and motivation to achieve goals with minimal supervision is required.
· Prior experience managing team members.
· Successful experience fostering an inclusive environment working effectively with persons from diverse cultural, social, and ethnic backgrounds.
· Commitment to and experience in impact equity, real estate and or social impact investing
· Ability to work effectively in a hybrid and/or remote work environment.
Compensation and Benefits
Salary Range: $135,000-165,000 (+ ability to participate in annual bonus)