Director of Impact Finance (Full Time / Boston Metro)

Posted 1 month ago

Director of Impact Finance

Our client a nonprofit in the finance sector is looking to hire a Director of Impact Finance.

This candidate will assist in leading a growing finance team and is ideal for someone who wants to apply their accounting and finance expertise in a mission-based setting, focused on innovation and impact, and who thrives on being strategic and forward-looking.


Reporting to the CFO, the Director, Impact Finance Operations will sit alongside our current Director and Controller of Impact Finance Operations; together, the two Directors will be responsible for overseeing the ongoing management and reporting related to our portfolio of investment entities. We currently manage multiple impact investing vehicles across education, economic mobility, health, and housing, with several other vehicles in development. Deal structures span both debt and equity (investment funds) for tax purposes, and funders include individuals, foundations, community development financial institutions (CDFIs), banks, and impact funds.  In addition, we are building out our portfolio of work related to Donor-Advised Funds (DAFs) by mobilizing DAF capital to invest in impact investments, including other impact-oriented funds. Responsibilities will include:

Impact Investing Operations:

This position will be required to manage and oversee a Senior Associate on the Finance Team as they complete the day-to-day accounting, financial and operational management of our client’s portfolio of impact investing subsidiaries and affiliates.

  • Collaborate with Impact Investing project teams to design optimal deal structures for the efficient allocation of impact investment capital across our investment subsidiaries and affiliates and to develop and manage impact investing entities
  • Manage reporting on ongoing operations of impact investing entities, including proactively establishing and managing timelines for completion; manage any issues, responses and follow ups.
  • Supervise the work of a Senior Associate in supporting transaction execution, cash reconciliations, month and quarter end reporting, including:
    • Reviewing quarter-end balance sheet reconciliation schedules for balance sheet accounts
    • Reviewing quarterly financial statements
    • Preparing quarter-end financial reports and analyses
    • Preparing investor capital account statements
    • Managing the review of investor tax reporting (Limited Partner K1s and Form 1099 Int)
    • Work closely with the Impact Investment team to manage cash forecasts and timing of capital calls, lender borrowings and grant funding deposits
  • Manage the relationships with third party administrators (TPAs) and service providers:
    • Direct custodian and fund administrators in their management of the trial balance and financial reporting; act as the main point of contact for new entity setup.
    • Manage the audit deliverable timelines and the requests for audit support
    • Lead the semi-annual valuation of Level 3 securities by a valuation consultant and the fair value pricing models
    • Liaise with loan originators and servicers to ensure accurate reporting for impact investing entities
  • Collaborate with impact investing teams to assist with capital calls and calculation of investor distribution amounts
  • Provide support for investor relations activities through distribution of quarterly reporting to all funders; assist with responding to investor follow-up inquiries; provide investor close support (review subscription agreements, calculate capital call and expense equalizations)
  • Manage stand-alone audits and support their consolidation
  • Collaborate with the Legal Team for the development, review and execution of all new impact investment planning, contracts and entity setup
  • Manage the Finance support of the Impact Finance and Investment teams in new entity planning and creation as well as entity winddown upon completion of the entity’s operations.
  • Develop and maintain documentation and guidance related to the planning, execution, operational management and winddown of our Impact Investment subsidiaries and affiliates

Additional Finance Team Support (as needed/relevant):

  • Assist the Corporate Accounting Team with interrelated DAF, recoverable grant and wholly owned subsidiary impact investing finance work as needed
  • Document accounting processes and procedures to demonstrate GAAP compliance
  • Participate as active team member in growing Finance Team to achieve all finance department goals
  • Participate in specific impact investing projects as needed and determined by the CFO
  • Support execution of internal controls and provide ongoing input to improve processes and create greater efficiencies through automation and leverage of TPAs, consultants and service providers
  • Provide coverage for other Finance Team members as needed

Firm Building

In addition to the Director’s Finance Team responsibilities, each Director serves on the  management team and contributes to the building and development of staff, the firm, and the field. These responsibilities may include, but are not limited to:

  • Supporting firm’s talent management efforts via recruiting, coaching, goal setting, mentoring, and ongoing performance management
  • Serving on the firm’s Management Team
  • Serve as a Development Manager to members of the Finance Team.
  • Supporting internal capacity building efforts
  • Representing the firm in public forums and/or contributing to various publications


  • Accounting, Finance or related Business Management degree or equivalent; Advanced accounting degree (CPA or MSA) preferred
  • 8+ years of experience in investment management accounting, corporate accounting or audit (focused on financial services clients); experience with alternative investments/hedge funds and tax reporting experience with K1 filings preferred
  • Strong understanding of U.S. GAAP and internal controls
  • Strong analytical and technical skills, as well as oral and written communication skills; strong Microsoft Word and Excel skills
  • Ability to operate in a demanding environment across multiple competing priorities while demonstrating a track record of high-performance; high level of independence and motivation
  • Comfort and experience with overseeing, coaching and developing more junior staff members
  • Ability to handle complex and confidential information with discretion
  • Comfort in a team-based and fast-changing environment; ability to adapt and be flexible
  • Commitment to enhancing a team culture of inclusion, belonging and equity
  • The following are not required, but would be considered as a plus for your candidacy:
    • Experience in or with the systems we seek to impact
    • Experience in investment management (with ESG portfolios) or impact investing
    • Knowledge of/experience with nonprofit accounting and tax
    • Experience with Sage Intacct accounting software or similar systems a plus


Starting base salary is $140,000; plus a 5,000 adjustment annually and a bonus of 5-10%.