Position Executive Director
Company Shared Interest
Location New York City, NY
Reporting Relationship Shared Interest Board of Directors
Shared Interest was established in 1994 by founding partners who were deeply rooted in the anti-apartheid movement with an unwavering passion for human rights and economic justice. The organization was founded to address the stark reality that while political power changed hands with the fall of apartheid, the system’s economic inequalities remained deeply embedded in South African society. Shared Interest was designed to mobilize South Africa’s significant financial and human resources to build a more equitable nation. Instead of making direct loans itself, the organization would facilitate guarantees to move South Africa’s banks to provide low-income black borrowers with access to the country’s own abundant capital in order to create sustainable paths out of poverty. Shared Interest’s guarantees would play a role not only in correcting market failure, but also in helping to dismantle apartheid era discriminatory lending practices.
After South Africa transferred political power to a democratic government led by President Nelson Mandela, but left economic power concentrated in the same minority hands, Shared Interest was launched to provide U.S. investors with a catalytic vehicle to help reverse apartheid’s legacy of institutionalized race-based inequality. In creating a model that would respond to South Africa’s particular conditions and needs, Shared Interest established a guarantee fund that moved highly capitalized South African banks to lend to community development financial institutions, cooperatives, emerging enterprises and farms that, in turn, have supplied credit, affordable homes, and jobs to more than two million low-income black South Africans. In the process, Shared Interest has forged a model applicable and replicable far beyond South Africa. Responding to Southern Africa’s needs, Shared Interest has expanded to Mozambique, Swaziland, Malawi and begun work in Zambia.
The Executive Director (ED) is responsible for the planning, oversight, resource mobilization, external relations and ongoing evaluation of Shared Interest, a social investment fund promoting the development of low-income communities in Southern Africa.
The ED’s work includes the following functions.
· The ED leads Shared Interest’s efforts to raise the three kinds of financial resources on which Shared Interest depends: (1) the loan capital that backs Shared Interest guarantees of credit to Southern African borrowers; (2) philanthropic capital and credit enhancements to protect Shared Interest lenders’ principal in the event of guarantee calls; and (3) individual and institutional contributions to support programs and operations. Critical to the ongoing success of Shared Interest will be the Executive Director’s stewardship of these resources through a viable operating model.
· The ED supervises the work of the development staff to recruit new donors and investors and to sustain existing support.S/he also engages in specific development tasks; including partnership development, soliciting and acknowledging gifts from large foundations and major donors, and recruiting key event participants.
· The ED hires and manages Shared Interest’s 5 team members by setting collaborative goals, managing performance, providing mentoring, coaching and development opportunities. S/he also supervises consultants, as needed. The ED’s direct reports include the Managing Director, Director of Strategic Partnerships, Manager of Donor Engagement, Finance Director and Director of Administration.
Collaborate with Partners, Third Party Advisors, Governmental and Non-Governmental Organizations in Southern Africa
· The ED oversees Shared Interest’s relationships with its partners and third-party advisors. The ED works closely with the Managing Director and Director of Strategic Partnerships to establish a robust network of in-country partners to interface with local financial institutions, develop a pipeline of prospective local borrowers and monitor the overall guarantee portfolio. S/he ensures that existing partners and all new relationships achieve their objectives to maximize impact and performance as spelled out in agreements between the parties, and adhere to legal requirements and policies of the countries involved. In the process, the ED also strives to ensure accountability to the Southern African communities with which Shared Interest works, and reports regularly to Shared Interest’s Board of Directors on work with these partners and advisors.
· In addition, the ED develops and sustains relationships with a variety of other Southern African organizations – including non-governmental, community-based and people’s organizations, impactful and sustainable investing and entrepreneurial bodies, and government agencies for the purpose of strengthening Shared Interest’s work. The ED also maintains collaborative relationships with Southern African government officials in the U.S.
Work with the Board of Directors and Advisors
· The ED works in close partnership with the Board of Directors who advise on key aspects of the organization such as strategy, fundraising, credit risk and finance. S/he coordinates support for the Board of Directors including preparation for Board meetings, helping to plan agendas, facilitating the input of various Board committees, and the development of reports and background materials. In between Board meetings, s/he ensures that the Board’s Standing Committees and task forces are working smoothly to accomplish their objectives, and is responsible for raising issues pertaining to existing policies, proposed policy changes, as well as, possible liabilities.
· The ED also manages the Board of Advisors by working with individual advisors and in assisting with recruiting new advisors.
· The ED provides leadership to Shared Interest’s Board of Directors and works with staff in setting long-and short-term goals for the organization. S/he will be responsible for successfully implementing strategies and activities to achieve the goals set forth in the Shared Interest Strategic Plan 2020-2025 and reporting to the Board on progress throughout the year. On-going planning is informed by annual monitoring and evaluation of Shared Interests programs, partnerships and results. Where measures are needed to strengthen Shared Interest’s impact, efficiency and performance, the ED works with staff and Board members to develop and implement them. The ED also works with the Board and staff to position Shared Interest among other sustainable and impactful investment and international development organizations in order to maximize its effectiveness and support.
Finances and Administration
· The ED supervises the organization’s financial and administrative staff to ensure efficient and transparent operations. S/he oversees the development and implementation of the organization’s operating and investment priorities, goals and budgets. S/he is responsible for ensuring that the organization’s operations and investments are managed according to the objectives and policies set by the Board of Directors.
Public Relations and Education
· The ED serves as the primary public face of the organization and an advocate for the sector. S/he oversees the development of written materials to educate key constituencies about its work, Southern Africa’s equitable and sustainable development agendas and the need to support them. These include marketing documents, offering memoranda, annual reports, newsletters, and special presentations. S/he also makes oral presentations as needed to prioritized constituencies and institutions in order to encourage support for Shared Interest, and to position Shared Interest as a thought leader in the international development field.
· Compensation will be competitive and commensurate with experience.