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Careers August 15, 2023

Risk & Compliance Manager

Department Operations, Risk & Compliance
Location Philadelphia, PA




Job Title:            Risk and Compliance Manager

Department:     Risk and Compliance, Operations

FLSA Status:     Exempt

Reports to:        Managing Director of Risk and Compliance

Date:                   August 2023



Headquartered in Philadelphia, Reinvestment Fund operates nationally with regional offices in Baltimore, MD, and Atlanta, GA. Reinvestment Fund is a national mission driven financial institution that creates opportunity for underserved people and places through partnerships. We marshal the capital, analytics, and expertise necessary to build strong, healthy, and more equitable communities.

As a federally certified community development financial institution (CDFI), our job is to make finance an agent of positive change and equitable growth. We provide loans, grants and technical assistance to businesses and nonprofits. Our borrowers and grantees educate students, support local economies, and create jobs. They build affordable housing and provide community goods and services that include access to nutritious food, hunger relief, physical and mental health care, and other social services.

At Reinvestment Fund, you’ll be part of a talented and passionate team of communicators and business development staff, lenders, portfolio managers, analysts, grant program managers, accountants, and policy researchers who bring their unique talents to our mission.

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 and are prepared to engage in that work. control disciplines and operational groups to assist in timely detection and escalation of control issues.


Reinvestment Fund provides a flexible 3-day home/2-day office work arrangement. We are confident in the value this work arrangement will provide in face-to-face interactions. Depending on the nature of the job, a more flexible work schedule may be considered.


The Risk & Compliance department is responsible for developing and monitoring an effective risk and control framework across the organization. Risk & Compliance engages with business partners to effectively manage various risks in an environment of proactive and strategic problem solving. The Risk & Compliance department, along with Operations and Information Technology, make up Reinvestment Fund’s Operations function. The Managing Directors of each of the three departments comprise the Office of the COO, a shared service organization intended as an enabler and agent for positive change. The Manager will be a part of the Risk and Compliance department, which was formed in March 2022. The Manager will report directly to the Managing Director of Risk and Compliance.


Reinvestment Fund is seeking a Risk & Compliance Manager to lead the implementation, execution and maintenance of several ongoing initiatives associated with Reinvestment Fund’s strategic objective of creating a sustainable risk and compliance program. The Manager of Risk & Compliance must demonstrate and apply business acumen to promote a culture of proactive risk management and facilitate the timely identification, escalation and handling of risks. The successful candidate must have the experience and desire to work independently and within areas of ambiguity, work collaboratively with other internal stakeholders, and to communicate with impact to add value and influence change across the organization.


  • Support the design and implementation of tailored, sustainable, and adaptable risk and compliance programs, including but not limited to governance, policies and procedures, metrics, monitoring and escalation.
  • Facilitate adoption of organizational standardizes and best practices, utilizing data and process improvement techniques to improve quality, compliance, efficiency, and productivity.
  • Day-to-day management of newly implemented risk and compliance programs, including but not limited to vendor management, AML/OFAC screening, and grants compliance.
  • Monitor and/or lead related program governance processes in order to meet strategic and compliance objectives and obligations.
  • Support the ongoing identification, assessment, monitoring, and aggregation of key risks and risk responses and connecting the dots across the organization.
  • Design or implement improvements in communication, monitoring, or enforcement of compliance standards.
  • Engage with Internal Auditors and apply knowledge about the business to support all phases of the audit process, to include execution where necessary with the ability to incorporate CDFI industry acumen.
  • Engage directly with department counterparts or delegates to implement risk and compliance priorities through services and projects. Cross functional collaboration between all three pillars in the Office of the COO (IT, Risk and Compliance, as well as Operations) is critical.
  • Proactively articulate objectives, observations and recommended actions for remediation of noted gaps; build consensus and hold stakeholders responsible for action plans.
  • Contribute to the development of appropriate reporting deliverables for executives and board members.


To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required.

  • Bachelor’s degree in finance, Accounting or business-related discipline, or relevant amount of
  • 5+ years of program and/or project management experience; especially in designing, implementing and managing new business processes, as well as managing multiple projects.
  • 5+ years of experience in enterprise risk management and/or operational risk management; Knowledge of AML/BSA/OFAC and grants compliance requirements a plus.
  • 5+ years of experience in the financial services industry preferred; previous consulting and/or CDFI experience also a plus.
  • Proven analytical thinker with ability to identify, analyze and solve problems in a thoughtful manner.
  • Highly motivated, energetic self-starter who takes ownership and can drive change through innovation.
  • Demonstrates extensive knowledge of process and controls, risk assessment and controls testing methodologies across the three lines of defense, including business process, financial reporting and IT management controls as well as risk management, compliance and operational processes.
  • Demonstrated ability to work as a business partner within all levels of an organization, build productive relationships, and leverage past experiences to support enterprise wide and process specific change management efforts.
  • Experience in applying legal and regulatory requirements to current business practices to identify potential gaps.
  • Experience with financial reporting concepts; working experience applying professional skepticism skills.
  • Demonstrated ability to apply relevant risk management and compliance frameworks (e.g., COSO, CoBIT, NIST, etc.)


  •  Dealing with ambiguity
  • Analytical and critical thinking
  • Strategic agility
  • Organizational and time management skills
  • Big picture thinker and solution oriented combined with attention to detail.
  • Demonstrated ability to work well under pressure.
  • Builds and nurtures work relationships.
  • Demonstrates use of emotional intelligence in daily conversations.


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) retirement savings plan with employer match, flexible spending accounts (medical, dependent care), commuter benefits, tuition reimbursement, paid time off, and EAP program.

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. Reinvestment Fund does 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 disabilities, or status as a veteran.

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.

Thank you for your Interest in Reinvestment Fund

To Apply:  Please complete the online application at and to attach your resume and a cover letter enter as ONE Document.