Location: London, client locations and work from home
Reporting to: Investment Director
Contract: Permanent, Full-time
Date closes:Friday, 27th January at 5pm
This is a brilliant opportunity to join a dynamic team with a mission of transforming the provision of financial services for people in financially vulnerable circumstances. At Fair4All Finance we are making direct investments (£30m+ to date) into community finance providers and social fintechs to support their growth and future sustainability, and working closely with diverse commercial investors, as a key part of our strategy to scale up the provision of affordable credit.
We have several exciting investment opportunities underway, including:
- Making and managing equity-like investments into community financial providers to scale up their provision of affordable credit – including Fair for You and Salad (our case study here gives a good overview)
- Working in partnership with mainstream finance providers and other investors (our recent industry roundtable is an example of this)
- Investing in early-stage tech companies which serve the community finance sector
The wider Fair4All Finance team works collaboratively on other strategic priorities, including supporting new initiatives such as our innovative No Interest Loans Scheme pilot (NILS).
We are looking for an exceptional, experienced candidate with very strong commercial acumen and direct investment experience. We are interested in hearing from candidates whose experience is from venture capital or commercial finance.
This senior investment manager position is a new role in our team, reflecting our increasing work with commercial investors and a diverse range of lenders. The role will involve leading due diligence and building a strong investment case for future investments, including in social fintechs and commercial ventures, managing a small portfolio of existing investments, and working closely with potential co-investors.
The successful candidate will be as comfortable meeting with senior teams at mainstream banks as they are rolling up their sleeves to deliver on the day-to-day mechanics of investments. They will share our passion for improving people’s lives through the transformation of the financial services sector, will be enthusiastic, proactive and enjoy working collaboratively with a diverse team.
Fair4All Finance is a not for profit organisation founded in 2019 to improve the financial wellbeing of people in vulnerable circumstances by increasing access to fair, affordable and appropriate financial products and services.
We are funded from the Dormant Assets Scheme which is led by the financial industry and backed by the UK government. This makes it possible for money in dormant bank and building society accounts to be used to help good causes.
There are at least 17.5m people in the UK in vulnerable financial circumstances, who are poorly served or unfairly excluded from mainstream financial services. That’s nearly a third of all adults in the UK. Our vision is of a society where the long term financial wellbeing of all people is supported by a fair and accessible financial sector.
Our three strategic priorities are:
- Expand the provision on affordable credit so that the availability of affordable credit increases x10 and provision can be delivered sustainably at the scale required to meet customer needs
- Partner with mainstream banks and financial services to increase provision of services so that mainstream financial services serve customers in vulnerable circumstances, either directly or through funding other providers
- Develop new products and services to address market gaps so that the right products exist to meet the different needs of people in vulnerable circumstances and systems are in place to support ongoing product development for these customers.
In this role your focus will likely be split across some key areas of work:
Due diligence and portfolio management, 40%
- Lead due diligence on potential equity and debt investments into affordable credit providers, social fintechs, commercial organisations and other investment opportunities as may arise; making clear and evidenced recommendations to the Finance, Grants and Investment committee
- Structuring equity and debt investments. This role will have a focus on working with community finance providers and other organisations which are ready for commercial investment, supporting their capital structuring and sustainable funding strategy. Our own investments are focused on supporting systemic change – balancing meeting subsidy rules around no undue private benefit with leveraging the additional investment which is needed by community finance providers, social fintechs and others
- Investment management of several strategic social investments, including: establishing and maintaining excellent, trusting client relationships, regular monitoring of financial and social impact performance, and holding observer roles on investee boards
Investor engagement: Supporting fundraising, 40%
- Engage with banks, existing social investors and other potential co-investors – to leverage in additional support for the community finance sector and support the set-up of sustainable fund structures
- Lead on strategically important investment projects and support other aspects of our wider work as needed
- Manage a small team
Skills and Experience
To be successful you will need:
- Strong investment background with good commercial acumen and strong analytical skills – experience ideally from venture capital or commercial finance, given the potential co-investors we work with
- Direct experience of making and managing commercial investments into SMEs. Deal execution capability, including evidence of negotiating investment terms and legal documents with investees, co-investors and prospective funders
- To be an excellent communicator, able to represent Fair4All Finance with senior stakeholders and be great at building relationships at all levels
- Creative thinker, able to deal with complexity and uncertainty and work under your own initiative
- Have regulated fund management experience and/or FCA ‘approved person’
When submitting your application please could you also answer the following 3 questions , no more than 250 words per question (this replaces the standard Cover Letter normally requested):
- What attracted you to Fair4All Finance and this particular role?
- What skills do you bring to the role, and what is your relevant experience?
- Tell us about a relevant investment or social investment you have worked on. Provide details of the due diligence, purpose of investment and investment performance.
Please also complete the Equality & Diversity Form below