ABOUT REINVESTMENT FUND
Reinvestment Fund is a mission-driven financial institution committed to making communities work for all people. We bring financial and analytical tools to partnerships that work to ensure that people in all communities have the opportunities they strive for: affordable places to live, access to nutritious food, schools where their children can succeed, and strong, local businesses that support jobs. We use data to understand markets and how transactions can have the most powerful impact, and we build coalitions that can shift how entire sectors work to dismantle systems that perpetuate social and economic inequality.
Reinvestment Fund’s investment program is unique in its range of expertise and approaches to financing. In addition to our core commercial lending activities, Reinvestment Fund also manages initiatives with the support of local or national foundations, and state, local and federal public agencies and governments. Since our inception in 1985, Reinvestment Fund has provided over $2.4 billion in financing to strengthen neighborhoods, scale social enterprises, and build resilient communities, where everyone can thrive and prosper.
Reinvestment Fund is currently undergoing a multi-year race, equity, and inclusion organizational change process, and we are seeking candidates who share a commitment to advancing racial equity and anti-racism practices and are prepared to engage in that work.
ABOUT THE POSITION
Reinvestment Fund is currently hiring a Director, K-12 Education within the lending and investment department. This individual will be responsible for all aspects of Reinvestment Fund’s K-12 lending practice, which focuses on supporting schools that work to transform structural inequities in education. The majority of Reinvestment Fund’s lending in this space is to charter schools but includes other kinds of mission driven schools as well.
- Underwrite and close K-12 loans, including leading due diligence, preparing and presenting credit memorandums, and overseeing the production of legal documents with support from Reinvestment Fund’s loan closer and outside counsel.
- Sustain Reinvestment Fund’s relationships in the K-12 space, including those with school operators, consultants and advisors to schools, and charter school authorizers and associations, primarily in the Mid-Atlantic region.
- Support the evolution of Reinvestment Fund’s K-12 originations strategy. Historically Reinvestment Fund has focused on being a direct project finance lender to schools, with a particular focus on financing buildings for startup or early-stage schools. More recently, that focus has expanded to include providing financing to other lenders or investors in the space as well. The individual in this position will have the opportunity to work with Reinvestment Fund leadership to build on these strategies and advance new ones consistent with the organization’s mission and financial objectives.
- Support the implementation of the organization’s Race, Equity, and Inclusion (“REI”) objectives in the education space. In recent years, Reinvestment Fund has worked with partner CDFIs to develop an extensive evaluation tool known as the racial equity matrix (“REM”) to support its education lending, as well as the launch of programmatic efforts to support schools in improving their focus on equity in their own operations. This role will support and help grow these efforts and ensure their continued primacy in our business development, underwriting, and originations work. It will include participating in the CDFI racial equity collaborative on education.
- Serve as a recognized Reinvestment Fund leader in the charter school lending sector, representing Reinvestment Fund at various business and public sector meetings and events, as well as in industry organizations like the Charter School Lender’s Coalition.
- Support Reinvestment Fund’s portfolio management team in their work maintaining up to date information on K-12 borrowers and conducting regular evaluations of portfolio performance.
- Support Reinvestment Fund’s Program Services team in ensuring appropriate deployment of and compliance with the terms of US Department of Education credit enhancement funding.
- Provide backup underwriting capacity for other types of lending beyond K-12 lending as necessary.
Qualified candidates should have a either a background in school operations, including school budgeting and financial management, or a background in providing financing to schools. The candidate should demonstrate interest in applying a racial equity lens within the K-12 space. The candidate should demonstrate the capacity to evaluate school performance on standardized tests and other metrics, as well as leadership and school culture in addition to school financial performance. In addition to this technical background, the candidate should have a broad-based capacity for identifying and analyzing credit risk, engaging in complex negotiations, and developing and implementing business development and relationship management strategies.
- Minimum of 5-7+ years of relevant experience in school management or school finance.
- Understanding of charter school funding streams and related activities, including authorization processes, charter agreements, per pupil funding rates, and federal, state, and local funding formulas.
- Understanding of core credit and lending concepts, including financial modeling, collateral assessment, financial statement analysis, and legal documentation.
- Familiarity with the recent history of education reform efforts and their impact on the charter school industry, preferred.
- Experience with tax credit financing mechanics, including New Markets Tax Credits and Historic Tax Credits, a plus.
- Must be highly organized and detail oriented with demonstrated ability to prioritize and complete conflicting deliverables on-time.
- Must balance day to day functions with “big picture” perspective and achieving long-term goals
- Demonstrate technical expertise and a willingness and ability to work with others to achieve goals.
- Ability to effectively synthesize information, organize logical arguments and summarize key points.
- Must be an effective communicator (both written and verbal) to a diverse audience.
- Proficiency in Word, Excel, PowerPoint at a minimum.
- Familiarity with Salesforce, Microsoft TEAMS or Sharepoint or other relevant software.
Reinvestment Fund is maintaining a 100% remote work environment to at least January 2022 due to COVID. Reinvestment Fund expects to provide a flexible work arrangement that will be a hybrid home/office work arrangement in 2022 and beyond. It is anticipated that a combination of working remote and a minimum of days in the RF office location will allow for face-to-face interactions. Depending on the nature of the job, a more flexible work schedule may be considered.
COMPENSATION AND BENEFITS:
Reinvestment Fund offers a competitive salary based on experience and skills, as well as an excellent benefits package including employer-paid health, disability and life insurance, 401(k) savings plan with employer match, flexible spending accounts (medical, dependent care and transportation), tuition reimbursement, paid time off, and EAP program.
Please complete the online application and attach your resume and a cover letter.
Reinvestment Fund uses E-Verify to validate all new hires’ ability to legally work in the United States. Reinvestment Fund is an Equal Opportunity Employer. We do not discriminate in hiring or employment practices on the basis of race, color, religion, gender, age, sexual orientation, marital or familial status, national origin, non-job related disability, or status as a veteran. Reinvestment Fund is committed to diversity, equity and inclusion (DEI) throughout our Organization and in our external investment practices.
Reinvestment Fund, Inc. has an affiliate, RF Impact Advisers, Inc. (“RFIA”) that is a state-registered investment adviser. In order to advance compliance with and prevent violations of federal and state securities laws and to avoid even the appearance of a conflict of interest, RFIA has adopted a Code of Ethics to govern certain conduct of its staff, including certain staff of Reinvestment Fund because Reinvestment Fund is an advisory affiliate of RFIA. As part of this Code of Ethics, there are specific personal reporting and other requirements and disclosures of personal financial and/or securities transactions information. For certain individuals this reporting will extend to your household members. You may be subject to a background check.Apply For Position