External Director –Social Finance and Impact Investing, Definity Insurance Foundation External Director –Social Finance and Impact Investing, Definity Insurance Foundation Position: Full Time Salary: $130 - $170K, negotiable based on market and experience Published: August 21, 2024 Closing: September 4, 2024 The Definity Insurance Foundation (DIF) is a philanthropic organization that collaborates with diverse partners across Canada to advance community-led solutions in climate, health, and socio-economic justice. We focus on addressing systemic barriers faced by Black, Indigenous, and other racialized communities. In its third year, DIF is expanding its impact investments in private markets and is in the process of revising its investment policy to include responsible investing in its overall portfolio. The Foundation is also developing its social finance granting program to support entrepreneurship, innovative finance models aligned with our priority areas, and capacity and infrastructure building to support the ecosystem. Reporting to the CEO, the Director of Social Finance and Impact Investing will play a key role in the executive team. This position requires a passion for using philanthropic and market-based strategies to drive social change. The ideal candidate is driven by impact and skilled in blended capital strategies, with a strong ability to leverage DIF’s investment portfolio and partner resources to achieve significant results, primarily through fund-level instruments. Responsibilities include developing and executing impact investment strategies, identifying market trends, sourcing investments, and conducting due diligence. You will present investment opportunities to the Investment Committee and Board, ensuring alignment with the Foundation’s mission and achieving both impact and social outcomes. Additionally, the role involves leading the social finance granting program, including finalizing the strategy, sourcing grant-eligible projects, and collaborating with stakeholders. The Director will also support the CEO with special projects and team-wide initiatives. This is your chance to drive the foundation’s impact investing and social finance granting program, transforming our philanthropic capital into powerful investments, grants, or blended solutions. Lead with purpose, innovate with impact, and shape a stronger, more equitable future for communities across Canada. RESPONSIBILITIES While the responsibilities are broken down programmatically, the role will take a holistic approach in creating and identifying opportunities for project and impact investing, that aligns with the Foundation’s mission and goals. Investment Portfolio Management 35-45% The majority of this is focused on private markets – impact investment portfolio management, with someduties supporting public market investments. Lead the development and implementation of impact investing portfolio, ensuring alignment with foundation goals for both impact and financial performance. Source, recommend, deploy, and manage private impact investments. Identify relevant external trends and market opportunities for the foundation. Conduct performance monitoring and ongoing manager engagement Initiate and lead market-building strategies from concept to implementation, coordinating with internal and external stakeholders. Present investment initiatives, performance updates, and other relevant matters to the Investment Committee and Board as required. Oversee the development and use of impact evaluation frameworks and measurement tools to assess and manage the social, environmental, and financial outcomes of investments Manage the impact investment budget and provide quarterly updates to the CEO and Investment Committee. Manage the administration and execution of impact investments, including due diligence, performance tracking,updates, agreements, and both internal and external communications. Oversee the development and operationalization of the investment policy, in coordination with the CEO and Investment Committee. Support the formulation of long-term investment objectives, policies, and strategies, leveraging asset liability modeling. Support the integration of responsible investing practices in traditional investments, aligned with the Investment Policy Statement Collaborate with consultants, fund managers, portfolio managers, lawyers, accountants and custodians, as needed. Program Development and Management 35-45% Develop and implement the Foundation’s social finance program strategy to significantly impact the ecosystem, especially for Black, Indigenous, racialized and other underserved communities in Canada. Collaborate with DIF granting program leads and the CEO to integrate climate, health, and community programs within the social finance program strategy. Source, recommend and monitor funded partnership grants. Engage, convene and build collaboratives with other funders and investors to leverage DIF’s efforts. Facilitate ongoing dialogue with the CEO and stakeholders to refine the program strategy. Oversee the administration of the social finance granting program, including reporting, documentation, and compliance with Board decisions. Maintain relationships with project partners to support and assess their ongoing development andorganizational well-being. Apply judgment in learning and reporting approaches, including managing multi-year grants and evaluation. Support the development and use of non-financial tools, such as convenings and research, to complement financial tools. Learning and Knowledge Mobilization 10-15% Collaborate with the Foundation’s team to enhance our philanthropic practices and community support. Facilitate knowledge sharing among partners, funders, and community leaders to build relationships, amplify efforts, and foster collaboration for greater impact. Represent the Foundation in external collaborations, committees, speaking engagements, and working groups. Summarize key documents, insights, and learnings from DIF’s investments and program partners to support evaluation processes. Cross Cutting Responsibilities 5% Provide strategic advice to the CEO on issues related to your impact area(s). Support the implementation of the strategic plan and operational strategy of the Foundation. Lead other activities and projects, as assigned, that will improve or advance DIF’s philanthropic goals. YOU BRING TO THIS ROLE… Strong alignment with the Foundation’s values and mission. Over 5 years of experience in strategic program development and impact investment portfolio management. Knowledge and understanding of private and public markets, with a track record in selecting and managing external investment managers. Knowledge of impact investment across asset classes, asset allocation, responsible investment standards (e.g., ESG, sustainable finance), and performance measurement. Proficiency in budgeting, target-setting, risk management, due diligence, monitoring, and evaluation. Ability to enhance internal processes and advance the foundation’s impact investing strategy. Understanding of the social finance ecosystem, capacity building and organizational learning. Understanding of CRA guidelines, rules, and regulations related to impact investing and grantmaking. ADDITIONAL QUALIFICATIONS: Strategic thinker with strong analytical skills and the ability to operationalize financing / funding approaches. Eager to learn from and collaborate with communities, thinking creatively and prototyping solutions together. Proven relationship-builder with experience engaging diverse communities and stakeholders, includingfunders, government, corporations, and community organizations. Strong analytical, writing, and verbal skills for communicating with a broad and diverse audience. Self-starter with a collaborative mindset, capable of working independently and driving impact throughteamwork. Availability and willingness to travel. University degree in a relevant field, preferably a Master’s degree. Proficiency in English; bilingualism in French is preferred. COMPENSATION The compensation range is $130 – $170K, negotiable based on market and experience. You will also enjoy: Benefits Package Flexible working arrangements Home office supports, including technology, and phone/ internet reimbursements Professional development allotment This position is open to candidates anywhere in Canada. You must be allowed to work in Canada.This is a remote role with up to 30% travel as needed. POTENTIAL START DATE RANGE: October 1-15, 2024 NEXT STEPS TO APPLY:We would love to learn more about you. Please fill out the application form and share your CV andCover Letter through the link below. We look forward to getting to know you better! CLICK HERE TO APPLY BY SEPTEMBER 4, 2024The Definity Insurance Foundation is an equal opportunity employer. We value lived experience and are committed to building a team that is reflective of the diversity of the people and communities that it serves. Given the focus of our mandate, we encourage applications from members of Indigenous, Black and all equity deserving communities and those underrepresented in philanthropy. We offer recruitment and employment related accommodation consistent with Human Rights and Accessibility legislation requirements for persons with disabilities. 2021 Definity Insurance Foundation. Intellectual property not belonging to Definity Insurance Foundation is used under license. 2021 Definity Financial Corporation™.