VC Vice President @ TIDES in Remote

Headquartered in San Francisco, California, Tides is a philanthropic partner and nonprofit accelerator dedicated to building a world of shared prosperity and social justice. The organization recently embarked on a new strategic direction to strengthen the power of groups who face systemic barriers to resources and opportunities – especially BIPOC leaders, their organizations, and communities. We believe that to achieve shared prosperity and social justice, we must take a collaborative, bold approach to the work.

Tides’ core services include philanthropic giving and grantmaking, impact investing, fiscal sponsorship and acceleration services for social ventures, collaborative workspaces, and collective initiatives. We support our partners by providing executive sponsorship, staffing resources, financial management, legal and risk compliance, communications, and administrative services.

Tides is dedicated to fostering justice, equity, diversity and inclusion within our workplace and beyond. We are committed to assembling and strengthening a diverse and inclusive staff and Board of Directors, and ensuring that we are applying our JEDI principles to all aspects of our organization and those we serve.

Tides is comprised of five separate legal entities –Tides Center, Tides Foundation, Tides Two Rivers Fund, Tides Inc. and Tides Network, the parent organization that employs the majority of our staff. In 2022, Tides managed more than $1.4 billion in total assets, fiscally sponsored more than 140 organizations, distributed more than $867 million in grants to 3,300+ organizations across 90+ countries, and was home to more than 1,000 employees.

The Role

Reporting to the CFO, the Vice President, Impact Investing is responsible for developing, implementing, and overseeing a comprehensive mission-aligned impact investment strategy alongside traditional investment management for Tides. The position plays a critical leadership role in Tides achieving its impact goal by aligning its $1.2B in assets to create transformative change through the power of impact investing. This role offers a unique opportunity to create and implement a robust impact investing model that will catalyze partners to shift and align our assets with Tides’ new impact goal. In doing so, the Vice President Impact Investing will help Tides influence donors and doers across our ecosystem to shift power and resources to proximate, especially BIPOC-led, organizations in the ecosystem.

This role supports the vision, as well as the professional and lived experience, to oversee the strategy, implementation, and ongoing management of this investment program. The ideal candidate will have strong demonstrated experience at the operational, management, and strategic levels of impact investing for both internal and external clients.

What you will do

Strategy

• Develop an overall investment framework to align Tides’ assets to its financial, operational, and impact goals.
• Own, execute, and monitor Tides’ and separate donor-advised portfolios’ Investment Policy Statement(s). Lead, oversee, and make specific recommendations for asset allocation across multiple time horizons, balancing risk and return.
• Establish and maintain relationships with colleagues within the investment community to represent Tides in the ecosystem, stay current on impact investing trends, and participate in opportunities for ongoing professional development.
• Work with our partnerships teams to develop new initiatives to increase the alignment of partner funds towards impact and to participate in partner meetings as needed.
• Collaborate with our Communications team to promote our efforts on impact investing with internal and external stakeholders.

Implementation

• Select, manage, and oversee external investment consultants / advisors, fund managers, and vendors who can implement robust impact-aligned investment portfolios.
• Establish strong relationships with internal partners and develop an understanding of needs to steward changes (pricing, processing, etc.), furthering Tides overall strategy and growth.
• Develop a framework and resource plan for the stewardship of separately managed donor and partner fund accounts, including the investment review, investment recommendations, asset allocation analysis, due diligence, valuation, oversight and partner relations support as needed.
• Lead proactive treasury / cash management with the CFO and Finance teams within Tides and across stakeholder business units. Balance investment and operational risks, ensuring sufficient operational liquidity across all Tides’ entities.
• Oversee Tides’ investment operations, including investment decision-making, portfolio execution, funds transfers, compliance, risk management, and performance reporting to external and internal partners. Develop a system of vendors, internal Tides’ teams, and technology platforms to create user-centric operational excellence.
• Manage one investment/impact analyst.

Monitoring, Management & Governance

• Oversee Tides’ internal and external investment performance reporting, including the development of a holistic framework to assess financial and impact returns. Regularly review investment performance with Tides’ CFO and leadership team. Manage performance attribution analysis, including the monitoring and analysis of the performance against benchmarks.
• Revise and continuously review Tides’ impact investment strategy and performance with Tides’ CFO, Executive Team, Finance Committee, and Board of Directors.
• Ensure Tides’ investment program is aligned with Tides’ annual audit and Enterprise Risk Management. Perform annual review of investments for audit disclosure and provide valuation methodology and materials. Procure and oversee external resources for independent valuation of investments when needed.
• Be a proactive member of the Retirement Committee to ensure compliance oversight of Tides’ retirement program, robust investment offerings, excellent service delivery, and diligent approval of investment funds.
• As a member of Tides’ senior leadership team, demonstrate Tides’ commitment to an engaged culture of performance by investing deeply in leading, inspiring, and developing direct reports and team members. Maintain opportunities for staff development, create career paths for team members, promote a learning environment; actively promote JEDI as a core value.
• Effectively communicate and interpret quantitative results in writing, graphically, and verbally for staff and management at all levels throughout the organization in addition to partners and donors. Provide investment commentary and conduct targeted analyses to support investor reports and communications, and support preparation of marketing materials.

What you will bring

• A deep commitment to Tides’ mission and new strategic direction, as well as a passion to use capital to make a difference.
• Deep understanding of fiduciary, investment management, portfolio planning, and impact investing disciplines, particularly in how they can contribute to Tides’ impact goal of racial equity and shifting power. Broad understanding of and passion for global investment markets and knowledge of all asset classes (equities, fixed income, and alternatives – private equity, venture capital, real estate, and real assets).
• Ability to manage multi-asset class institutional portfolios through relevant community organization, financial institution, foundation, investment consulting, donor-advised fund, corporate, family office, or registered investment advisor experience.
• Extensive knowledge of asset allocation and portfolio construction techniques. Advanced understanding of investment decision-making and manager selection / oversight processes. Understanding of fair value measurement and due diligence of unconventional assets.
• Strong verbal, written communication, and presentation skills. Demonstrated success communicating with executive teams, boards, and partners. Commitment to embracing and valuing justice, equity, diversity and inclusion.
• Excellent leader of people with the ability to attract, recruit and develop top talent for a national hybrid organization that recently entered into our first collective bargaining agreement.
• High degree of integrity, discretion, professionalism, and accountability to achieve quality results. Demonstrated ability to hold information confidential with excellent judgment. Ability to learn quickly; able to flex and/or pivot when needed and operate effectively in a fast-paced, multifaceted environment.

Education & Experience

• 12+ years of experience in roles aligned with the requirements of this position, reflecting gradual increasing roles of responsibility.
• Undergraduate degree in Business, Finance or related field, Master’s degree preferred.
• Certification(s) (e.g., CFA, MBA, CAIA, CPA) and/or evidence of pursuit of expertise preferred.
• Experience managing staff, investment advisors, investment managers, and vendors.
• Knowledge and experience of portfolio management services and operations with impact-aligned portfolios with registered investment advisors, donor-advised funds, community foundations, investment managers, or equivalent environments is a plus.
• Proven experience building and maintaining effective relationship networks with stakeholders, including funding partners, thought leaders, and investment advisors / managers.
• Experienced in investment operations, custody services, investment accounting, financial / impact performance reporting, and trading infrastructure.

Location

Location is flexible; remote in the U.S. with the ability to travel to San Francisco, CA. and New York City as required.