About Open Road

Open Road Alliance is a hybrid philanthropic and investment initiative focused on advancing solutions to Keep Impact on Track.

Our Investment Model

The world is unpredictable – from delays in committed funding to government policy changes, impactful organizations can run into unexpected roadblocks through no fault of their own. Open Road provides the fast, flexible funding necessary to overcome these roadblocks. Working through a grant and a loan portfolio, Open Road does not operate on a traditional grant or investment cycle. Proposals are accepted on a rolling basis throughout the year and the application itself is a concise, three-step process: an initial conversation, short written application, and final interview. Both grant and loan applications are subject to a strict and common set of criteria. We have no sector or geography focus – our focus is to keep impact on track.  This approach ensures that the impact of the original project preserves the ROI of the original funder’s investment, and generates significant leverage for Open Road. Since its founding in 2012, Open Road has disbursed over $43 million and has leveraged $452 million in original project funding.

In addition to its portfolio of investments, Open Road conducts research, develops tools, and generates data on best practices for risk management in philanthropy. By disseminating learnings around risk management and advocating for the adoption of best practices, Open Road is working to make risk management as commonplace in philanthropy as monitoring and evaluation so that the impact of philanthropic investments is maximized across the sector. For more information, visit www.openroadalliance.org.

Candidate Profile

Reporting to the Managing Director, the Senior Risk Officer (SRO) will be a key member of the Social Investments team, responsible for the implementation and oversight of Open Road’s risk management and portfolio monitoring activities across loan portfolios. In this capacity, the SRO will conduct credit reviews of investments; track fund and portfolio level risk; manage problem credits; and oversee portfolio reporting with a sharp eye to ensuring data integrity and timely reporting. The SRO will also be expected to contribute to the advancement of Open Road’s proprietary risk scoring framework.

Position Responsibilities

Portfolio Management

  • Support the management of two short-term bridge loan portfolios. Within each portfolio, the SRO will:
  • Support Investment Officers during due diligence, including structuring repayment scenarios in line with credit policies and portfolio targets;
  • Lead the evolution and advancement of Open Road’s Risk Scoring mechanisms;
  • Manage problem credits in balance with Open Road’s customer service credo;
  • Monitor portfolio developments and generate management information at portfolio and fund level to guide senior management’s strategic decision making;
  • Manage and improve the framework and tools used for impact monitoring and analysis to ensure alignment with investment strategies;
  • Analyze and report on market information in order to flag opportunities and threats to support strategic planning and investment opportunities.

Integration with Back Office and Reporting

  • Generate and maintain monthly, quarterly and annual portfolio reports that are complete, accurate, and on-time;
  • Work with Open Road’s Data Scientist to build-out needed infrastructure in Salesforce to facilitate automated, real-time reporting, where possible;
  • Proactively liaise with the back office and manage the relationship to ensure timely and accurate sharing of information;
  • Support Managing Director and back office to produce reports necessary for internal liquidity management, balancing repayments and disbursements;
  • Support timely and accurate production of quarterly, annual and investor reports in partnership with the Managing Director and Communications team;
  • Lead key fund operations, such as the valuing our investments and monitoring the long-term performance of the funds;
  • Support creation of annual portfolio budgets, including repayment projections and scenario-planning.

Borrower Support

  • Develop an understanding of the finance challenges our individual borrowers face;
  • Identify patterns of frequent finance challenges and work with the Social Investments team to design and develop scalable solutions across the portfolios;
  • Identify best practices within the portfolio and facilitate the sharing of these across the investment team and our borrower base;
  • Keep abreast of market trends, proactively gather learnings and share insights with the Open Road team and borrowers.

Strategy and Management

  • Collaborate with the Managing Director and CEO on strategy design as relates to credit risk and portfolio management;
  • Directly manage interns, investment fellows, and junior staff, as applicable;
  • When necessary, identify, recruit, and manage outside vendors or contractors directly related to portfolio management and reporting.

Qualifications

The SRO must have a comprehensive credit risk management background and be able to apply that knowledge in addition to his/her practical skills in performing complex independent tasks. It will be expected that the SRO will be able to lead the implementation of new policies, systems, and processes with an excellent eye for attention to detail.

The successful candidate will have the ability to conduct detailed research and analysis that can result in constructive findings that would form the basis for addressing the root cause of problems. They will be detail and results oriented with strong self-motivation and a passion for impact.

Specific Expertise

  • Undergraduate degree, required. Advance degree in Finance, Accounting, or other analytical field, preferred.
  • Minimum 8 years experience working in a risk management/credit function of a CDFI, bank or impact investing lender.
  • Proven and sound experience with managing credit risk and risk-based performance measures.
  • Strong skills and experience with financial accounting including liquidity and cash flow management.
  • A proven ability to conduct research, data analysis, and financial modelling.
  • A strong attention to detail with a passion for ensuring data quality and integrity.
  • Strong experience in the analysis of business metrics and the formulation of Key Risk and Performance Indicators.
  • Experience with legal documentation, ideally loan agreements.
  • Ability to be creative and flexible in problem-solving.

Personal Characteristics

  • Ability to work independently within a small team
  • Self-directed and able to work in a remote environment
  • Highly communicative, proactive approach to work assignments
  • Flexible & Collaborative
  • Humble
  • Lover of the Oxford comma, Oxford comma, and Oxford comma
  • A good sense of humor
  • High ethical standards and an uncompromising sense of integrity.
  • A passion for impact and commitment to the mission, vision, and core values of Open Road

Position Location & Travel:

We are seeking a candidate based in New York, Washington DC, or Seattle.

As a 21st Century Office, we do not operate out of a fixed location. All employees work from home offices or shared workspaces, as appropriate. Bottom line, we encourage employees to work where they will be most effective, whether that is at a home office, external office space, coffee shop, or park bench. For its part, Open Road ensures that all employees have access to appropriate workspaces to facilitate maximum effectiveness and productivity.

Must be able and willing to travel up to 20% for in-person meetings, conferences, and/or other events.

Compensation & Benefits

Open Road pay rates are informed by a written job description, periodic market analysis against that job description, individual experience, and a deep commitment to equity.

Given the interdisciplinary nature of our work, Open Road uses a blended market approach to define and identify comparative market rates on a national basis. Open Road looks to ensure that all pay rates are placed at or above the 70th percentile for a given position.

This is a full-time, salaried position with comprehensive medical, retirement, and other benefits. The salary for this position is dependent on the individual candidate’s qualifications and experience.

How to Apply

  • Email résumé and cover letter to [email protected]
  • Ensure the subject states “SRO – [YOUR NAME]”
  • Successful candidates will be contacted for an interview. Please allow up to three weeks to be contacted. We regret that we are not in a position to personally respond to all applicants.
  • Applications received by May 31, 2020 will be given priority.

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