The mission of the William Caspar Graustein Memorial Fund is to achieve equity in education by working with those affected and inspiring all to end racism and poverty.
Reporting to the Executive Director, and working closely with the Investment Trustee, the Director of Impact Investment Strategy (DIIS) will provide overall leadership and direction for the Memorial Fund’s $140 million endowment. In alignment with the IPS, the DIIS will develop and fulfill this new Director role. They1 will make it a priority to preserve and build upon the collegial and collaborative spirit that exists internally with the Board and staff, and externally with the Memorial Fund’s grantees, partners, and the broader community of stakeholders, including the external team of financial professionals and investment partners.
1. We use “they” as an inclusive pronoun to refer to this individual.
The DIIS will coordinate all ongoing investment activities, including the evolving mission-adjacent work of investor activism, community investment development, and development of metrics to track mission alignment. These responsibilities will include coordination of investment consultants and monitoring investment performance in close coordination with the Board and Investment Trustee. They will also serve as primary staff support for the Finance & Audit Committee.
In addition, in coordination with the Executive Director and Senior Program Officer, the DIIS will seek out and evaluate potential local investment partners related to the Fund’s current grant-making strategies and serve as principal spokesperson for the Memorial Fund’s innovative investment program, sharing our work with the broader philanthropic community.
Ideal Values and Skills
The Director of Impact Investment Strategy should embody the following values and skills:
A values-driven leader with experience in and commitment to community engagement. A seasoned professional who is community focused and committed to shared leadership.
A deep commitment to the principals and priorities described in the Fund’s IPS, able to develop a coherent investment strategy for the Fund, while enthusiastically embracing the co-creation of this new role.
A champion of racial and social justice. An awareness of and ability to identify structures of inequity. Attentive to the plentiful opportunities to affect structures within the investment industry that contribute to systems that disadvantage the poor and people of color.
Emotional intelligence to deal effectively with multiple constituencies and complex relationships across the breadth of the Fund’s work.
Resiliency skills to lead and/or actively participate in advancing the Fund’s work relative to racial, social, and economic justice.
A reflective practitioner. A commitment to and experience with learning, exploring, and sharing for a common purpose. A listener who values and appreciates hearing from everyone, with the ability to learn from the stories of others.
Ability to confront personal, individual, and internal systemic bias with regards to race, gender, gender-identity, sexual orientation, ability, etc., which may require sharing and discussing personal identities in relation to the work environment.
Ability to work and navigate complex conversations related to power, privilege, white supremacy, racism, and oppression on a regular basis.
Ability to think conceptually, critically, and strategically. An agile learner with intellectual curiosity and openness to new ideas.
Analytical ability and knowledge to assess risk and willingness to guide the investment portfolio; striking a balance between fiduciary responsibility and seeking risks appropriate to the Fund’s bold mission.
- Gain comprehensive knowledge and insights into the Memorial Fund’s history, mission, values, culture, programs, diverse constituencies, voice, and infrastructure to develop the Fund’s approach to mission-aligned investing.
- Understand and embrace the values of the Graustein family (via direct interaction with family members and family-generated documents).
- Develop a working knowledge of ongoing mission-aligned programs, understanding role of Investment Trustee, Board of Trustees, Investment Consultants, and various staff roles. Establishing strong relationships to develop best practices to move the IPS forward.
- Lead, manage, and develop recommendations for all investment-related activities including: o Oversight of Investment Policy Strategy
- Staff the Finance & Audit Committee and Investment Trustee meetings
- Evaluation and coordination of Investment Consultants; including Request for Proposal (RFP) process, should change be necessary
- Conduct due diligence for impact investments with Program Implementation Team and makes recommendations to Investment Trustee.
- In conjunction with Investment Consultants and Board, oversight of investment portfolio performance
- Develop Spending Policy Analysis and provide leadership and oversight for expected return studies. Interpret, develop, and make recommendations for changes as needed
- Lead, manage, and develop recommendations for all investment activism activities including: o Proxy voting policy and practice
- Coalition building
- Community impact outreach
- Actively represent the Memorial Fund at community-based meetings and events related to investment activities. Participating in local, regional, and national projects that contribute to the Fund’s mission.
- Apply an equitable and anti-racist analysis to all functions to achieve the Fund’s goals.
The Director of Impact Investment Strategy should have the following experience:
Five years or more experience preferred in any of the following fields: investment management, finance, economics, urban planning, environment, law, nonprofit management, or business administration. Combination of relevant experience and training outside of standard college program will be considered.
Experience working in or with foundations and philanthropy.
Demonstrated commitment to racial equity and inclusion/social change.
Creative analytical and problem-solving ability that provides proactive, creative cross-functional thinking and ideas.
Ability to make effective and persuasive speeches and presentations of complex or controversial topics to public groups and/or boards of directors.
A history of communicating effectively and openly, both verbally and in writing, with a broad range of individuals and organizations.
The Director of Investment Strategy will be expected to work out of our offices, based in Hamden, Connecticut, once we fully reopen, with some flexibility for occasional remote work. Due to the pandemic, our offices are only partially open at present, and we expect to fully reopen in the coming months.
The position will require travel around the State of Connecticut in seeking out potential investment opportunities and beyond Connecticut to national conferences. This is a position with full benefits and competitive salary. This job description is not designed to be interpreted as a comprehensive inventory of all duties, responsibilities and qualifications required.
The William Caspar Graustein Memorial Fund is deeply committed to diversity and equal opportunity. As such, the Fund is an equal opportunity employer and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state, or local laws.
This policy applies to all terms and conditions of employment, including recruiting, hiring, placement, promotion, termination, layoff, recall, transfer, leaves of absence, compensation, and training. We will seek, and welcome, a diverse pool of candidates.
Please send cover letter, resume, and contact information to: [email protected]
with the following subject heading: Director of Impact Investment Strategy. Also, indicate how you learned of the opportunity. All applications will be acknowledged and kept strictly confidential.
Initial interviews will be conducted in early May with applicants considered on a rolling basis until the position is filled. Position start is negotiable, with start as early as June 2022 a possibility.