Calvert Foundation™

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Careers

Calvert Foundation, an industry leader, has been named one of the top organizations changing the world by Fast Company. Our team consists of bright, energetic and talented people who have a passion for making a difference in the world by helping undeserved communities. We offer an excellent benefits package that includes a transportation subsidy and more.

Current openings include:

 

Risk Officer, Risk Management

Calvert Foundation seeks a Risk Officer to join its portfolio risk management team within the larger Lending & Advisory Services Department. The Risk Officer will be responsible for the general risk management of the U.S. based portfolio, including providing support, direction, credit information, and loan policies and procedures to ensure the overall quality of Calvert Foundation’s portfolio. The Risk Officer will also underwrite loans and equity investments in a variety of sectors with minimal supervision. The Risk Officer will supervise Portfolio Associates on the Risk Management team.

Principal Duties and Responsibilities will vary based on the portfolio assigned but will include:

Portfolio Monitoring

  • Prepare at least 12 due diligence reports per year, including financial spreads, of new candidates and existing borrowers in the Calvert Foundation portfolio
  • Perform quarterly reviews on all loans within assigned portion of the portfolio and for third party clients as needed
  • Create and maintain reporting systems to communicate the relative health of the portfolio under review
  • Monitor the performance of the portfolio assigned to Portfolio Associates and mentor Portfolio Associates in credit risk assessment abilities
  • Co-lead actively monitored credits meetings
  • If International – monitor and report on country and regional risk profiles
  • If US Based – monitor and report on the U.S. economy with specific emphasis on the CDFI industry

Management Responsibilities

  • Supervision and development of Portfolio Associates
  • May also direct the work flow of the department if assigned

Strategy

  • Advise on risk measurement and analysis for business models and industries not already represented in the Calvert Foundation portfolio
  • Contribute to the industry sector strategies being developed by the business development teams
  • Advise on deal structuring with respect to credit risk mitigation to the business development teams

Loan Policy

  • Develop, recommend and monitor credit policies and procedures specific to assigned portfolio
  • Manage the foreign exchange, hedging and counter party risk management sections of the loan policy, if assigned to the international portfolio

Due Diligence Management

  • Act as primary relationship manager with third-party analysts, including acting as conduit for information flow, establishing timetables, and reviewing all due diligence reports for completeness and adequacy
  • Maintain the risk rating guidelines and methodologies within the assigned portion of the portfolio, making suggestions for changes as needed
  • Along with the second Risk Officer and Risk Manager, develop agenda for and lead quarterly analyst calls and annual meetings
  • Manage the financial statement spreadsheet system to ensure appropriateness of output

Servicing

  • Ensure that all investments are properly represented on the loan accounting system in terms of payment set up, principal balance, interest rate, accrual status and all other critical factors
  • Ensure that all portfolio reports are accurate and timely and be familiar with their construction to be able to audit the results
  • May be asked to be the primary conduit for the flow of information to the external auditors
  • Coordinate the collection of information for funders as requested by other teams within Calvert Foundation

Investment Committee Management

  • Oversee the collection and distribution of materials submitted to Board Investment Committee in a timely manner
  • Ensure that the Board Investment Committee packages are complete and accurate.

Other Job Functions:

  • As assigned by Manager

Qualifications, Skills and Required Experience:

  • Advanced degree in business, accounting and or finance; or equivalent experience
  • Significant experience in credit analysis and underwriting in a commercial or banking context
  • At least 3-5 years experience in credit analysis of CDFIs or U.S. based affordable housing
  • Management experience
  • Working knowledge of Microsoft Office Applications
  • Ability to work independently, multi-task and prioritize competing demands.
  • Excellent communication skills
  • A “can-do” attitude, with strong problem solving skills

How to Apply:

Interested candidates should forward a resume and cover letter to jobs@calvertfoundation.org with Risk Officer - Risk Management in the subject line. No phone calls please.

 

Fund Manager, Community Investment Partners

Location: US - Maryland – Bethesda

Calvert Foundation seeks an experienced investment professional to serve as a Fund Manager in Community Investment Partners, Inc (CIP), a wholly-owned subsidiary and a Registered Investment Advisor. We are looking for an individual who seeks to use her/his experience and education to make a difference in the world and help channel capital to underprivileged communities in the United States and abroad in a fast growing, entrepreneurial environment.

The Fund Manager reports to the chief executive officer of CIP. This position is based in Bethesda, MD. Calvert Foundation provides an excellent benefit package that includes medical, dental, life, 401(k), transportation subsidy, and more. This position will require travel.

Essential Duties and Responsibilities:

The responsibilities of this position include maintaining the most strategic view of client separate account objectives and of how various investments fit within those objectives. This individual is most responsible for overall investment prioritization criteria for each account and for overseeing and ensuring effective service delivery to CIP clients. The Fund Manager is also responsible for origination, structuring and closing of new client separate accounts and making new product and other strategic recommendations to CIP executive management.

Primary Activities:

  • Successfully implement customized investment strategy and apply to portfolios as appropriate for each client that balance social, financial and risk preferences. Diverse client portfolios include investments in CDFI’s, Affordable Housing Developers and Lenders, Microfinance, and other mission based organizations.
  • Frequent communication with clients to ensure high level of service delivery. Respond to requests from clients.
  • Regular communication to clients on the status of portfolio performance. Coordinate report preparation, produce additional reports as needed.
  • Integrate new clients into processes and systems to ensure smooth transition.
  • On a daily basis oversee service delivery to ensure contractual, compliance, fiduciary and investment responsibilities to clients are being met and provide routine reports to the chief executive officer.
    • Oversee and analyze all portfolio valuations and prepare required documents
  • Review and file quarterly and monthly performance and compliance reporting from investment managers.
  • Maintain in-depth daily knowledge of the social investment fixed income markets and products, as well as portfolio management products, including the rationale for underlying holdings and sector allocation decisions.
  • Become a trusted and respected member of the CIP portfolio management team, attending and contributing to team meetings.
    • Understand and discuss performance results. Maintain current understanding of market developments specific to the products and proactively communicate related information to clients and internal staff.
    • Prepare and present clients reports as needed. Deliver clear presentations on the markets, CIP products, process, strategy, performance and outlook. Participate in new business presentations and reporting meetings for potential clients. Help win business and create new leads.
    • Act as an ambassador for CIP, articulating the corporation’s investment proposition and strategy in conferences and other high-profile settings. Respond promptly to investment-related inquiries from clients or other marketers.
    • Develop strong personal relationships across functions – with the lending team, financial and operations team and sales and marketing teams.

Professional Requirements and Skills:

  • Successful candidates will be highly credible presenters, able to deliver compelling and concise investment presentations leading to increased business. They will be able to successfully field in-depth investment-related questions on a broad range of fixed income related topics ranging from Program Related-Investments to structured finance.
  • The individual will also have strong written communications skills.
  • Successful candidates will be self–starters able to effectively operate in a highly team-oriented and collaborative environment and efficiently manage their time. They will have strong interpersonal skills, and will be expected to develop close relationships with other CIP teams.
  • Successful candidates can expect to spend approximately 20 percent of their time traveling visiting clients and attending industry-related events.
  • Microsoft Office Applications-Excel and Word.
  • Excellent analytical and problem solving skills.
  • Series registration not required.
  • Creativity and sense of humor a plus.

Education:

  • Over five years of portfolio management or lending experience is required. Candidate must demonstrate an in-depth knowledge of and interest in the social investment fixed income market, as well as significant understanding of the separate account management process.
  • An MBA, MPA, CFA or other advanced degree/qualification is highly preferred, but not mandatory.
  • Bachelor’s degree in a finance-related field preferred. A substitute of more than 5 years investment experience is acceptable.

Supervisory Responsibilities

This position has no direct supervisory responsibilities at this time.

About CIP, Inc. and the Calvert Foundation:

Community Investment Partners, Inc. is a wholly-owned subsidiary of the Calvert Foundation. CIP, Inc. provides advisory and customized asset management services for sophisticated investors seeking a blend of positive social outcomes, financial return and risk management. Clients include primarily high-profile foundations and financial institutions with a commitment to community investment. Our clients finance affordable housing, micro-businesses and essential community services, domestically and internationally. CIP, Inc. administers approximately $300 million in accounts.

Calvert Foundation, a nonprofit 501(c)(3), is an innovative industry leader in Community Investing and Microfinance, recently acclaimed by Fast Company as one of the Top 25 Groups Changing the World. Our work has been profiled in leading publications, including the Washington Post, Business Week, the Wall Street Journal and the Financial Times. Calvert Foundation is a fast growing social enterprise that provides investment capital to non-profits that help people in disadvantaged communities work themselves out of poverty, in order to foster a more equitable and sustainable society. At year-end 2009, Calvert Foundation had assets of approximately $240 million.

CIP and Calvert Foundation are based in Bethesda, MD. CIP and Calvert Foundation are legally separate entities from Calvert Group, Ltd., the largest family of socially responsible mutual funds in the country

How to Apply:

Interested Candidates should forward a resume to jobs@calvertfoundation.org with CIP Fund Manager in the subject line or mail to Calvert Foundation at 7315 Wisconsin Avenue Suite 1100W, Bethesda, MD 20814.

 

Junior Accountant, Finance and Operations

Calvert Foundation is looking for a skilled Junior Accountant who seeks to use her/his education and experience to make a difference in the world and create exceptional community impact -- helping to channel capital to underprivileged communities here and abroad.

The Junior Accountant is primarily responsible for several daily accounting operations such as AR, AP, the processing of monthly journal entries, processing payment requests, and assisting with year-end audit schedules. The Junior Accountant establishes and maintains accounting files and records, and performs other accounting duties in support of the controller and the chief financial officer.

Skills:

We seek a talented and socially responsible individual with exceptional skills/background/education and a passion for using investment as a tool to alleviate poverty. The successful candidate will have (1) a bachelors degree, with a concentration in accounting and a high GPA; (2) 1-3 years of relevant experience is helpful but not required; and (3) the ability to work independently, multi-task, and prioritize competing demands. We also are looking for the right combination of high energy, overall intellect, collaborative mindset, and sharp attention to detail. This position will fully utilize your diverse set of skills and customer orientation, while immersing you in the worthy mission and business leadership of Calvert Foundation (www.CalvertFoundation.org).

Comments:

Excellent benefit package that includes medical, dental, life, 401(k), transportation subsidy, and more.

How to Apply:

No phone calls please. Interested candidates should forward a resume to jobs@calvertfoundation.org with Junior Accountant in the subject line or mail to Calvert Foundation at 7315 Wisconsin Avenue Suite 1100W, Bethesda, MD 20814.

 

Systems/Business Analyst, Finance and Operations

Position Summary:

Under general supervision of the controller, the Systems/Business Analyst is responsible for coordinating IT projects with management, users and staff. The Systems Analyst serves as a lead person for project implementation. Client support includes continual analysis of departmental systems with focus on adding value to all processes.

Position Responsibilities:

  • Acts as the key technical liaison between computer systems users, vendors and Information Services.
  • Acts as primary contact for all application systems problems and updates.
  • Analyzes and documents problem, recommends solution, and work with vendors to effect corrective actions.
  • Follows up on problem resolution and informs clients of status.
  • Coordinates application enhancements between vendors and clients.
  • Work with individual departments to formulate reports and work with SQL programmers to automate reports on the server whenever applicable
  • Serves as the information resource for client users; including determination of the most appropriate data source, providing or arranging application-based report writing, or educating users to retrieve the information themselves.
  • Provides development support to client users on Office Automation and PC applications and coordinates the inclusion of other staff and technical resources as necessary.
  • May serve as project Coordinator for In-house development or implementation of vendor-based automated systems. Assess system scope and design objectives through research and fact-finding to configure vendor -maintained systems.
  • Supports the organizational initiative of process re-engineering by involving client departments in process flow analysis and work-re-design, with emphasis on the effective utilization of the hospital information systems or other Information Technologies to improve organizational performance.
  • Remains knowledgeable of operations and the computer systems within the client department to provide comprehensive support. Applies various analysis tools and techniques to increase quality, productivity, and overall effectiveness of client departments.
  • Performs other related duties as assigned.

Minimum Qualifications:

  • Bachelor's degree in Business Information Systems, Computer Science, System/Industrial Engineering or related field, with emphasis of study in systems analysis and business report design/software solutions required. Experience with V-Base and expert -level MS Access query knowledge required.
  • Minimum of four years experience in systems analysis and/or programming required, with project management responsibilities highly desired.
  • Must have advanced skills and experience in oral and written communication including analysis, preparation and report presentation.
  • Must have ability to communicate, motivate, and organize projects among a broad spectrum of personnel.
  • Knowledge of personal computers and PC application and development software desired.
  • Working knowledge of structured programming techniques, networking, and database methodologies preferred.

Comments:

Starting Salary : $55K Excellent benefit package that includes medical, dental, life, 401(k), transportation subsidy, and more.
No phone calls please. Interested Candidates should forward a resume to jobs@calvertfoundation.org with Systems Analyst in the subject line.

 

Associate, Lending and Advisory Services

Position Summary:

Calvert Foundation is looking for an Associate who seeks to use her/his education and experience to support the Foundation’s Executive Vice President and in doing so make a difference in the world and create exceptional community impact -- helping to channel capital to underprivileged communities here and abroad.

The Associate will work closely with Calvert Foundation’s Executive Vice President -- getting a view at the top of this cutting edge non-profit. Responsibilities are primarily administrative in nature. While principally providing administrative support, the Associate will gain considerable exposure and access to important industry leaders and initiatives – coordinating efforts between the lending and marketing teams, supporting the new Communities at Work Fund, and facilitating the Executive Vice President role in resource mobilization (both individual and institutional fundraising).

Skills:

We seek a talented and socially committed individual interested in contributing to the Foundation’s poverty alleviation goals. The successful candidate will have (1) a bachelors degree; (2) familiarity with community development in the US and/or microfinance overseas; and (3) a can-do spirit willing to do what’s needed to get the job done. We also are looking for the right combination of high energy, strong organizational skills, communication skills, self-management, discretion and sharp attention to detail. This position will draw upon your strong administrative and organizational capacities, while immersing you in the mission and business leadership of Calvert Foundation (www.CalvertFoundation.org) thereby allowing you a view from the top of the organization.

Position Responsibilities:

  • Manage schedule, calendar, contact list, and travel arrangements and expenses for EVP.
  • Organize, manage, prioritize, and follow through on EVP’s tasks and daily responsibilities.
  • Exercise judgment on priority of messages, meetings, principal’s tasks, and incoming materials from staff and others.
  • Organize department staff meetings.
  • Manage and coordinate Salesforce accounts
    • Input contacts and accounts
    • Produce reports for fundraising and business development purposes
  • Coordinate the production of materials and binders for business partners and potential funders.
  • Process and file documents for EVP’s reference.
  • Perform other duties as assigned.

Minimum Qualifications:

  • Ability to work independently, multi-task and prioritize competing demands.
  • Professional demeanor and meticulous attention to detail.
  • Positive, enthusiastic attitude and flexibility to do what it takes in a team environment.
  • Knowledge of Microsoft Word and Excel software.
  • Must have ability to communicate, motivate, and organize projects among a broad spectrum of personnel.
  • Solid sense of commitment and responsibility, with a desire to be proactive and take initiative
  • Interest in social issues, particularly microfinance and community development.
  • Associate or Bachelor’s degree preferred.

Comments:

Excellent benefit package that includes medical, dental, life, 401(k), transportation subsidy, and more. No phone calls please. Interested Candidates should forward a resume to jobs@calvertfoundation.org with Associate-LAS in the subject line.

 

Underwriting Consultant, Lending and Advisory Services

Request For Proposals

Calvert Foundation is seeking responses to this Request for Proposals (RFP) from qualified underwriters who are interested in serving as consultants to analyze organizations that specialize in affordable housing development and lending, small business and community facility lending, New Markets and Low-Income Housing Tax Credit projects, and community and economic development on a fee-for-service basis.

Role of Consultants and Qualifications

The Consultants chosen will serve as part of a pool of external professionals with whom Calvert Foundation shall periodically contract to perform due diligence reports upon existing or prospective borrowers. Due diligence reports will be assigned by Calvert Foundation’s U.S. lending team and will be determined by the Consultant’s availability, interest, and expertise in the relevant industries (affordable housing, education, rural development, etc.) The Consultants will be asked to attend an orientation to Calvert Foundation credit analysis either in person or via telephone at certain points over the year. The Consulting contract is at will, and may be cancelled at any time by either the Calvert Foundation or the Consultant for any reason.

Qualification, Skills and Required Experience

  • Advanced degree in business, accounting and or finance; or equivalent experience
  • Significant experience in credit analysis and underwriting in a commercial or banking context
  • At least 5 years experience in credit analysis of CDFIs
  • Experience and/or knowledge in affordable housing development and lending, small business and community facility lending, and/or New Markets and Low-Income Housing Tax Credit projects.

Proposal Submissions

Prospective consultants should submit a resume and professional writing sample including a credit analysis to communities@calvertfoundation.org with Domestic Underwriter in the subject line or mail to Calvert Foundation at 7315 Wisconsin Avenue Suite 1100W, Bethesda, MD 20814.

Questions on the process should also be submitted to this e-mail address and will be addressed in a timely fashion.

Consultants will be selected, interviewed, and notified on a rolling basis.

For more information on this position, please download and view the official RFP here, Underwriting Consultant RFP.