Global impact investing network communications coordinator pay
In partnership with both external and internal stakeholders, drive and oversee a significant update to the IRIS Catalog of Metrics, including a reorganized catalog tagged with metadata and relationships, ability to export and use the catalog in formats appropriate to user needs, clear guidance and standard defining how IRIS data are defined and processed, and other key outputs. Cultivate and manage external partnerships in-kind and otherwise to develop and implement above outputs.
Collaborate with Research team staff on the design and development of a relational database allowing for storage and analysis of IRIS-aligned data Create and implement a go-to-market strategy for the IRIS Catalog of Metrics and associated impact data products. Please indicate where you saw the job posting in your cover letter. No phone calls please. Only qualified candidates will be contacted.
Candidates should be aware that all NYC-based staff must provide proof of vaccination against the COVID virus, unless they have been granted a reasonable accommodation for religion or disability. While unfunded guarantees are not new to community development finance, CIGP is novel in providing guarantors with infrastructure though which to deploy guarantees and potential guarantee users with a single point of contact through which to access the balance sheets of multiple guarantors.
LOCUS works with investors, underwriting guarantee commitments as well as monitoring and managing the portfolio for both impact and risk. Guarantees Making a Difference Where We Started In , a team of national and local impact investors came together to create an innovative way to advance community impact in affordable housing, climate, and small business with particular attention paid to advancing equity.
These investors saw tremendous potential in creating a guarantee pool that could backstop promising projects and allow capital to flow to borrowers who faced challenges in accessing the resources needed to launch and sustain their projects.
The result of this vision, the Community Investment Guarantee Pool CIGP , is a platform for guarantors to deploy financial guarantees jointly and efficiently in the affordable housing, climate, and small business sectors. In addition to helping financial intermediaries manage risk and increase equitable access to capital for businesses on the ground, CIGP is committed to working with beneficiaries to develop insights and share learnings about the impact of this guarantee pool.
For investor guarantors, the pool enables them to realize more transactional efficiencies and risk sharing benefits than they would issuing guarantees on their own. As a financial innovation and learning pilot, CIGP continually tests its own effectiveness as a model in the hopes that the lessons learned can inspire more philanthropic investors to leverage financial guarantees for mission-advancement.
A full theory of change has been developed that articulates the CIGP model, its expected outcomes, and its impacts. A key feature is to deploy financial guarantees that will catalyze additional investments totaling at least five times the guarantee amounts in the affordable housing, small business, and climate change sectors with a core focus on racial, gender, and economic equity.
However, the CIGP model faced several early unknowns that would require intentional learning. Would there be a market need for guarantees in these sectors? How would this be impacted by the pandemic? How should the pool operationalize its racial, gender, and economic equity focus? Would guarantees truly shift behavior and help the community development marketplace advance equity? Where We Are Today As CIGP enters its third year, it is too early to definitively answer many of these questions, but an active evaluation and learning program is in place.
Some of the unknowns are being illuminated such as the demand for the guarantees, its potential for leverage, and its effect on advancing racial equity in community lending practices. With two years of interest-only payments at an affordable rate along with a six-to-seven-year term, these loans provided entrepreneurs with a longer runway for recovery. In addition, MoFi focused outreach to communities that had the least access to conventional financing: businesses in low-income communities, and businesses owned by low-income people, women, and entrepreneurs of color.
To better access these markets, MoFi partnered with Native CDFIs and used outreach strategies adapted from other lenders with success lending to Latinx business owners. Early results are encouraging. When we launch new products, having a guarantor come in and work with us to mitigate some of the risk is empowering on many levels. Most importantly, it allows us to reach further, and help underserved communities across the country through innovation.
These early successes demonstrate how CIGP can be a valuable resource for community development finance; however, there is still work to do. While all guarantees have been to Community Development Financial Institutions CDFIs so far, the CIGP team is now working with other types of beneficiaries to explore potential guarantee use cases, particularly in the climate change space.
Additionally, the use of unfunded non-governmental guarantees has less precedence in the climate sector and will require continued market education. Additionally, work is underway to engage a consultant to help CIGP fully build its racial equity vision into its processes and procedures.
And finally, CIGPs has established Financial Advisory Teams consisting of over two dozen experts in climate change and affordable housing a small business advisory team may be launched pending funding. These teams bring diverse experiences and perspectives to CIGP, helping the pool be inclusive and expansive in its approach.
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