Assistant Director, Capital Formation Department - Washington, DC

Assistant Director, Capital Formation Department
Washington DC

Living Cities is a pioneering partnership among the philanthropic, corporate and public sectors. Members include leading foundations such as Ford, Gates, and MacArthur, as well as major banks and insurance companies. Together, Living Cities members help bring opportunities and the power of mainstream markets to urban neighborhoods and residents historically left behind. Since 1991, Living Cities has invested more than $600 million in cities across the country. Our funding has helped build homes, stores, schools, daycare, healthcare, job training centers and other community assets that exceed $15.9 billion in total value -- a remarkable leverage ratio of 29:1.

Living Cities aggregates and deploys capital through commercial debt, Program-Related Investments, grants, guarantees and other financial mechanisms. We support bold, promising approaches that take advantage of the city’s unique role as America’s engine for economic prosperity and that have the potential to transform the lives of low-income people and the communities in which they live.

The Capital Formation Department at Living Cities aggregates and deploys socially motivated capital to create opportunities and meet needs in low income communities in America’s cities. Over the past two years, the department has created the Catalyst Fund, raising $40 million for investment in not-for-profit organizations that advance the Living Cities mission, and has been a moving force behind the establishment of the Living Cities Integration Initiative, a multi-year, $80 million effort to support public-private partnerships in five cities.

Living Cities has a small and dynamic staff and an extremely ambitious agenda. Reporting to the Director of Capital Formation, the Assistant Director will contribute broadly to the work of the department and the organization as a whole.




Responsibilities

The position combines policy/analytic work with transactions. Together with the Director, the Assistant Director will staff the Capital Formation Committee, which includes leading social investors from Living Cities member foundations and financial institutions. The Assistant Director will:

* Absorption of capital: Identify gaps in ability of cities to deploy investment capital in low income communities. Work with members, partners and experts to assess strengths and weaknesses of existing financial intermediaries and systems; map required capabilities; and develop a plan of action (including research, convenings, investments and policy advocacy) for how Living Cities could transform the field.

* Staff the Living Cities Working Group on Transit-Oriented Development (TOD): Together with Program staff, work with funders and partners (such as the Center for Transit-Oriented Development and the Institute for Responsible Investment, among others), to advance the development of equitable, large-scale TOD projects in cities across the US. Analyze gaps and challenges in the availability of finance; oversee research and plan convenings to address these challenges. Help regional partnerships develop new funding mechanisms and work with the Living Cities Catalyst Fund to finance appropriate transactions. Work with the Living Cities Policy Committee to identify needed policy changes.

* Living Cities Integration Initiative: Bring a capital/investment perspective to Living Cities’ signature $80 million effort to encourage public-private partnerships in five cities. Work with the Living Cities Program, Knowledge and Evaluation Committees and staff to ensure that participants in the chosen sites, as well as Living Cities members, have rich opportunities for learning from the capital/investment activities funded by Living Cities. Assist with the evaluation of the role of capital in the overall initiative.

* Develop and manage transactions: identify and screen potential deals; manage underwriting, structuring, negotiation and legal documentation of investments for the Living Cities Catalyst Fund and other Living Cities vehicles; maintain relationships with borrowers and co-investors


Qualifications



* MBA or MPP/MPA (required)
* Strong background in finance
* 5-10 years of experience, including at least 2-3 years of transactional experience in a commercial or investment bank and at least one year of policy development experience relating to capital/finance (e.g. US Treasury, Congress, Federal Reserve)
* Strong writing and oral communications skills
* Ability to juggle multiple projects and zoom from detail to big picture and back
* Bias for action
* Commitment to the mission and social returns sought by Living Cities
* Interest in innovative approaches to community development finance

To apply

Send resume and cover letter in separate attachments to Robin Hacke, Director of Capital Formation, at rhacke@livingcities.org. Please highlight relevant experience in the cover letter and explain why this organization/position is of interest to you.

http://www.livingcities.org/about/careers/?id=12