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Portfolio Manager, Olamina Fund, Candide Group

Posted by
Candide Group
|
Oakland, CA
New
|
Published 8 days ago

About Us: 

Candide Group leverages capital to support the transition away from an extractive global economy to one that is built upon values of social justice and sustainability. We are an SEC Registered Investment Advisor based in Oakland, California, that supports families, foundations, athletes, and cultural influencers nationally who want their money working for social justice. As impact investors, we recognize that achieving our values will require an intense reorganization of society, and thus, the pursuit of multiple strategies. 


In October 2019 we launched the Olamina Fund as an extension of Candide’s impact thesis and values, with a specific focus on racial and economic justice. Our overarching objective is to address the lack of access to capital in communities that have faced decades of historic extraction and exclusion, and to shift the traditional power dynamics within our current financial system. While the Fund has the potential to lend money across the United States, we’ve identified the greatest need for capital in the Deep South, Rural America, and in Indian Country, Native Hawaii, and Alaska Native lands. We lend to community development financial institutions (“CDFIs”), private loan funds, and other organizations that may work in the areas of small business development, work cooperatives, and low-income housing, with a view towards a just and restorative financial system for all. 

About this Position: 

Olamina launched with an initial capitalization of $40M. We have currently invested $34M and anticipate being fully invested by the end of 2021. At full investment, we expect to have 24 loans across 21 relationships, with a majority of organizations being CDFIs and other loan funds.  

We are seeking a Portfolio Manager to steward this portfolio of relationships with compassion and curiosity, and an eagerness to support the advancement of their mission.   

Responsibilities will fall in the following areas: 

Relationship Management

  • Conduct periodic check-ins with our portfolio community to assess the current state of business, including social and economic conditions of the communities being served, as well as organizational needs where we may be able to provide or facilitate support.  
  • Participate in quarterly and/or annual briefings for each organization.
  • Identify impact stories to share in Candide communication platforms when beneficial, in collaboration with the Director of Impact.
  • Participate in events hosted by ecosystem partners to maintain a current awareness of the state of the field and build strategic partnerships to support the work. 

Portfolio Management

  • Ensure quarterly reports from each organization are received by our loan servicer. 
  • Review quarterly reports to assess the financial and operational health of each organization, and follow-up on any questions or concerns.
  • Prepare a quarterly report of each organization summarizing compliance with the loan agreement and assessment of impact.
  • Evaluate portfolio-wide performance based upon analysis of quarterly reports.
  • Contribute details of portfolio assessment to quarterly investor reports and documents to support future fundraising efforts. 
  • Present portfolio updates to the Olamina Credit Committee.
  • Make amendments to loan documents and notes to credit files as needed and in accordance with compliance guidelines.
  • Engage with internal stakeholders (Olamina Community Advisory Board and Candide team members) on matters pertaining to the Fund’s development.

Operations and Administration

  • Identify and develop systems to improve upon current processes.
  • Contribute to quarterly goal planning for Olamina.
  • Develop, maintain, and update the Fund’s operational documents.
  • Prepare accounting package for quarterly financial statements and annual taxes and audit. 
  • Collaborate with Candide team members on projects when appropriate.
  • Contribute to the development and well-being of the Candide team culture.

The Ideal Candidate:

We believe that organizations which are led by people from the communities they serve are ultimately able to manage resources and risk more effectively, and have invested 100% of the Olamina portfolio in women and BIPOC-led organizations. As the primary focus for this role will be relationship management, the ideal candidate will be comfortable working with diverse populations in a transparent way and will center the needs of our community. Additional desired skillsets include:

  • Minimum 3-5 years experience in economic development, funding, financial advocacy or social movement space.
  • Strong communications skills and ability to manage internal and external stakeholders.
  • Basic understanding of financial terms, budgets, and financial reports, and comfort with detail-oriented numbers work.
  • Strong analytical skills and ability to draw conclusions based on financial information.
  • Strong organizational skills and attention to detail.

We highly encourage applications from candidates beyond impact investing and finance, especially those who have experience working in social movements and with diverse viewpoints, and who are committed to advancing racial and economic justice.  

​​Location: Candide is based in Oakland, CA, and while we prefer candidates based in California, we are currently working remotely and are open to remote candidates. In the future, there will be in-person meetings in Oakland, CA.

About Us: 

Candide Group leverages capital to support the transition away from an extractive global economy to one that is built upon values of social justice and sustainability. We are an SEC Registered Investment Advisor based in Oakland…

Details at a Glance

  • Time Commitment
    Full Time Schedule
  • Start Date
    January 3, 2022
  • Application Deadline
    November 3, 2021

Compensation

USD 95,000 - USD 125,000

Benefits

We offer standard benefits such as health insurance, profit-sharing bonuses, staff development funds, and an employer-contributed socially responsible 401k plan.

We offer standard benefits such as health insurance, profit-sharing bonuses, staff development funds, and an employer-contributed socially responsible 401k plan.

Location

Temporarily Remote
Work must be performed in or near Oakland, CA
Associated Location
Oakland, CA, USA

How to Apply

To apply:

Please email the following to hiring@candidegroup.com and include “Olamina Portfolio Manager” in the subject line:

  1. A cover letter outlining why you are interested in working for the Olamina Fund and your relevant experience;
  2. Your resume;
  3. A list of three references.

Candide Group is an equal opportunity employer committed to diversity, equity, inclusion, and justice. We strongly encourage and seek applications from women, people of color, including bilingual and bicultural individuals, formerly incarcerated individuals, as well as members of the lesbian, gay, bisexual, and transgender communities. We do not discriminate in hiring or employment on the basis of race, color, religion, national origin, gender, marital status, sexual orientation, age, disability, or veteran status.

To apply:

Please email the following to hiring@candidegroup.com and include “Olamina Portfolio Manager” in the subject line:

  1. A cover letter outlining why you are interested in…

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