WaterEquity is seeking a Director of Financial Institution Investments to lead one of its two principal businesses: investing in emerging markets financial institutions to expand access to financing for water and sanitation. The Director will be responsible for strategy, management of a global team, portfolio development, and oversight of multiple investment vehicles. WaterEquity’s financial institutions investment portfolio includes loans to a variety of different types of financial institutions in emerging markets, to support two types of water and sanitation lending:
- Retail lending to households for water and sanitation via housing, home improvement, or dedicated water and sanitation loan products; and
- SME lending to utilities and corporates delivering water and sanitation products or services.
The Director will lead a small, but growing, global team currently comprised of 5 investment professionals and coordinate with a larger investment management team of 15 people. This is a newly created position in a growing business. The ideal candidate will be able to quickly take over leadership of the financial institutions team and two active investment funds, expand the existing $105m portfolio, and recommend long-term strategies for growth. S/he will have a global outlook and proven ability to invest successfully in emerging markets. S/he will have an ambitious, entrepreneurial mindset, excellent communications skills, and a pacesetting management style.
WaterEquity is the first impact investment manager dedicated to mobilizing private sector investments to accelerate universal access to water and sanitation in emerging and frontier markets. One of WaterEquity’s primary investment strategies is investing in financial institutions to expand water and sanitation lending to underserved households and businesses. Since 2016, WaterEquity has raised three funds with total investor commitments exceeding $200m and over $120m in loans disbursed to 35 borrowers in six countries. WaterEquity is a purpose-driven company with a culture of innovation. The company is launching additional investment vehicles and expects to rapidly scale up assets under management over the next few years. Under the leadership of the Director of FI Investments, WaterEquity expects to grow the global portfolio to $300m by 2024. Additional information about WaterEquity is available at www.waterequity.org.
WaterEquity’s affiliate, Water.org, is an international non-profit that specializes in correcting market failures in the water and sanitation sector. A primary focus of Water.org is the provision of technical assistance to financial institutions to help them build water and sanitation loan products. In addition to leading the WaterEquity financial institutions investments, the Director will coordinate closely with Water.org to deploy technical assistance to expand and strengthen investment opportunities.
Job Responsibilities
The Director of Financial Institution Investments reports directly to the Chief Investment Officer and is a senior leader within WaterEquity’s 15-person Investment Management Department.
Lead financial institutions investment strategy and business growth
- Maintain singular focus on expanding access to water and sanitation, refine strategies to grow investment portfolio, diversify products and investees, & expand geographically
- Inform design of investment vehicles in coordination with CIO and Investor Relations Department
Lead financial institutions investment team
- Supervise team of five full-time investment professionals and oversee contracting of additional short-term contractors to bolster investment capacity as needed
- Oversee regional teams covering all aspects of financial institutions investment, including:
- business development and candidate screening;
- negotiation, structuring, due diligence;
- presentation of opportunities to investment committee;
- coordination with other departments on documentation and disbursement
Lead financial institutions investment strategy and business growth
- Maintain singular focus on expanding access to water and sanitation, refine strategies to grow investment portfolio, diversify products and investees, & expand geographically
- Inform design of investment vehicles in coordination with CIO and Investor Relations Department
Lead financial institutions investment team
- Supervise team of five full-time investment professionals and oversee contracting of additional short-term contractors to bolster investment capacity as needed
- Oversee regional teams covering all aspects of financial institutions investment, including:
- business development and candidate screening;
- negotiation, structuring, due diligence;
- presentation of opportunities to investment committee;
- coordination with other departments on documentation and disbursement
Manage FI investment vehicles
- Lead global pipeline management and portfolio construction
- Ensure vehicles achieve impact and financial return expectations
- Responsible for development of, and adherence to, relevant investment policies
- Initially responsible for currency risk management, hedging, portfolio management, and reporting, but gradually handing over portfolio management to new Director of Portfolio Management & Risk
Coordination & Representation
- Partner with Director of Impact and ESG to ensure mission-alignment of strategies, policies, and assets
- Lead internal coordination of FI investments with Operations, Finance, and Compliance Departments
- Lead global coordination of FI investments with sister organization, Water.org, as they deliver technical assistance to WaterEquity investees and investment candidates
- Represent WaterEquity, including at sector events and investor discussions
Skills and Qualifications
A successful candidate will be a proven, self-driven professional with a passion for impact and an ability build and manage a global team to exceed expectations. The following qualifications are necessary:
- Master’s degree in relevant field, or equivalent professional experience
- Minimum fifteen (15) years of experience in finance / banking / impact investment in emerging markets
- Minimum five (5) years of experience investing in financial institutions in multiple markets, experience with cross-border transactions
- Experience managing investment funds and track record of exceeding fund expectations
- Experience managing a remote, international team and strong communications and leadership skills
- Demonstrated commitment to social and environmental impact
- Familiarity with retail or SME loan products in emerging markets, preferably housing or water and sanitation loans
- Familiarity with technical assistance for emerging markets financial institutions preferred
- Experience working with impact investors such as development finance institutions and family offices
- Existing professional network of contacts in the financial services sector in emerging markets
- Demonstrated ability to design, launch, and scale new projects and initiatives
- Experience with partnerships, strategic alliances, or joint ventures preferred
- Willingness to travel internationally up to 20%
- Foreign languages an advantage
Location
WaterEquity is headquartered in Kansas City, MO, U.S.A. Investment Management team members are located in Kansas City, Washington DC, Pretoria, Chennai, and Singapore. The majority of investments are in Asia. Applicants are welcome to apply from any location, provided they have a high degree of comfort using remote-working technology and a willingness to travel.
Compensation and Benefits
Details of compensation package will be dictated by contract status, which will be determined based on location. Overall compensation will be commensurate with education and experience and structured to reflect a competitive package for a full-time senior-level team member.
No relocation benefits will be offered.
How to Apply
Send cover letter and resume to [email protected] with “Application – Director of Financial Institution Investments” in the subject line.
WaterEquity is an equal opportunity employer.
At WaterEquity, we are on an intentional journey to determine how we can champion diversity, equity, and inclusion not only within our organization, but also within our industry. We are committed to creating a diverse work environment that is characterized by engagement, a sense of connection, and respect for the differences and contributions of all our professionals. WaterEquity recruits, employs, trains, compensates, and promotes regardless of race, religion, color, national origin, sex, disability, age, veteran status, and other protected status as required by applicable law.
