Chief Investment Officer

Company: Next City
Location: Oakland
Posted on: February 18, 2025

Job Description:

Chief Investment Officer @ ICA.FundThe Chief Investment Officer (CIO) at ICA Fund is a key executive leader that combines strategic leadership with a focus on leveraging an ecosystem of support to manage and drive investment outcomes that balance financial and impact returns aligned with ICA's mission. This position requires a visionary leader who can manage competing priorities and lead multi-stakeholder processes in a collaborative manner to achieve results. This is an opportunity for the right leader to drive industry-leading and market-making work to achieve the organization's investment goals while maximizing impact.This position is responsible for developing investment strategy and leading investment activities, managing and building a dynamic team of six professionals, managing the investment portfolio to achieve stated outcomes and organizational commitments, and supporting capital fundraising efforts as needed. This role combines strategic leadership, investment and financial expertise with a deep commitment to social impact and community development.Key Responsibilities

• Strategic Leadership
• Define the strategic direction of the investment team and secure CEO, board, and investment committee support for initiatives and goals.
• Develop and execute a comprehensive investment strategy that aligns with the organization's mission and goals across the organization.
• Establish investment policies, guidelines and frameworks to govern and guide the investment practice.
• Collaborate closely with the direct services team to ensure appropriate sourcing.
• Lead cross-functional initiatives that leverage both investment and direct service capabilities to maximize impact and alignment across the organization.
• Develop and refine investment strategies that align with the organization's mission and market opportunities.
• Develop innovative financial products and investment structures that address unmet needs in underserved communities.
• Investment Strategy and Execution
• Responsible for the execution of the fund's investment strategy, ensuring grant and investor commitments are met while serving the needs of our small business community.
• Identify and evaluate investment deals, ensuring alignment with both financial and social impact objectives.
• Regularly assess and refine the organization's investment approach to address evolving community and financial needs.
• Utilize the combined expertise of the team and investment committee to identify emerging trends and innovative investment approaches.
• Develop and implement investment strategies that support ICA's position as a leader in impact investing and community development.
• Regularly assess and report on the financial and social impact performance of investments, demonstrating the organization's effectiveness to stakeholders.
• Establish thought leadership initiatives that showcase the organization's innovative approaches and success stories.
• Identify gaps in the market where the ICA can play a catalytic role, including helping to build the follow-on investment demand for ICA companies.
• Investment Committee Partnership
• Coordinate and lead Investment Committee meetings to review prospective investments, report on progress, and discuss portfolio strategy that meets organizational goals.
• Leverage the expertise and networks of investment committee members, and other external experts, to identify new investment opportunities and capacity support for the businesses we serve.
• Present investment proposals, performance reports, and market analyses to the investment committee, ensuring they have the necessary information to make informed decisions.
• Collaborate with the investment committee to establish and review investment policies, risk management strategies, and performance benchmarks.
• Fund Management and Fundraising
• Lead efforts to attract co-investors and partners, leveraging ICA's investments to create larger pools of capital for impact.
• Develop and lead strategies to identify new sources of capital.
• Play an active role in fundraising, engaging with investors on both financial performance and social impact of investments.
• Portfolio Management
• Create a portfolio management approach that leverages deep ecosystem building and networks to manage risk and liquidity needs for ICA and growth objectives for the companies.
• Identify and cultivate strategic partnerships and technologies to help support the companies within the portfolio and the portfolio overall.
• Ensure adequate financial and social impact monitoring of portfolio companies.
• Regularly review and report on prospective investments, report on progress, and discuss portfolio strategy.
• Team Leadership and Culture Building
• Build and maintain a positive team culture that values curiosity, self-reflection, continuous improvement, accountability, commitment and passion for ICA's mission.
• Promote cross-pollination of ideas between investment professionals and direct service teams.
• Mentor team members to develop investment acumen and a holistic understanding of ICA Fund's mission and operations.
• Directly manage a dynamic team of 6.
• Foster a non-hierarchical, ambitious, and energetic work environment.
• Promote a culture of collaboration, integrity, and trust within the organization.
• Integration with Direct Services
• Foster a culture of collaboration between the investment team and direct services team.
• Implement systems for knowledge sharing and feedback loops between investment activities and on-the-ground community work.
• Develop and monitor metrics that measure the combined impact of investments and direct services.
• Participate in strategic planning sessions with the direct services team to align objectives and resources.Qualifications
• 15+ years of experience in private equity, venture capital, corporate development or related fields, with at least 7 years in private equity or venture capital, including successful exits.
• Proven track record of sourcing, structuring and managing investments.
• Demonstrated ability to lead diverse, multidisciplinary teams and manage complex stakeholder relationships.
• Small business operating expertise.
• Strong commitment to and understanding of community development and social impact metrics.
• Exceptional communication skills to articulate the connection between investments and direct services.
• Strong background in finance and investment analysis.
• Experience investing in diverse entrepreneurs is strongly preferred.
• MBA preferred but not required.Skills and Abilities
• Exceptional people leadership and collaboration skills.
• Strong impact orientation; ability to balance financial and impact returns.
• Extensive knowledge of investment concepts, strategies, and capital markets.
• Excellent analytical and communication skills.
• Ability to manage multiple stakeholders and gain buy-in both internally and externally.Cultural FitThe ideal candidate will:
• Demonstrate a strong commitment to the mission of closing the racial and gender wealth gaps by investing in small businesses.
• Possess a vision for transforming the financial system to be more inclusive and create economic opportunities for all.
• Exhibit impeccable integrity, credibility and track record of building and fostering a positive team culture.
• Be willing to "roll up their sleeves" and contribute at all levels of the organization.
• Thrive in a fast-paced, dynamic environment while maintaining attention to detail.This role offers a unique opportunity to lead investments that drive both financial returns and meaningful social impact, while supporting a strong, mission-driven team.OUR OFFER AND COMMITMENTThe annual base salary range for this position is $220,000 to $245,000 depending on background and experience. Compensation also includes a discretionary bonus paid annually based on organization and individual performance.ICA's full benefits package includes: 13 paid holidays per year; 3 weeks of annual paid vacation; 10 days of annual paid sick leave; at least 3 employer-identified mental health days; employer-paid health, dental, vision, life insurance and disability benefits; 50% employer-paid dependent health; employer-paid mental health counseling; 24-hour online virtual healthcare; 401(k) plan with matching; and mobile phone / Internet reimbursement.ICA is an equal opportunity employer. We evaluate qualified applicants without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status, age, and other legally protected characteristics.HIRING PROCESSPeople are key to our success, and we'd like to get to know you. Depending on your progress through our hiring process, you may go through the following steps: Several rounds of panel interviews; completion of an exercise or case study; and reference-checking of previous supervisors and colleagues.HOW TO APPLYPlease submit both a resume and a brief cover letter (combined into one PDF or Word document) by March 24, 2025 by clicking on the Apply button here:
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Keywords: Next City, Oakland , Chief Investment Officer, Executive , Oakland, California