Careers at Bridges
Project Development Officer, Bridges SIBs
The Role: To provide strategic and analytical support to support the growth of new Social Impact Bonds
Responsible to: Bridges Social Impact Bond Fund
Start Date: As soon as possible
Status: This is a contract role for a fixed period of six months, with a potential opportunity for extension. Secondments would be considered.
Location: London, UK
Bridges Fund Management is a specialist fund manager dedicated exclusively to using an impact-driven investment approach to create superior returns for both investors and society at large. We believe that market forces and entrepreneurship can be harnessed to do well by doing good. We have raised £1bn of capital committed to impact investing, and are recognised internationally for our 15-year track record of proven results, and our ongoing thought leadership in this space.
Our founders, partners and investors are leaders in private equity, financial services, business, social policy and entrepreneurship. They provide valuable expertise and a vast network of contacts for Bridges, which help us work with our investments to give them the best chance to flourish.
In 2008, Bridges raised the Social Entrepreneurs Fund, an innovative vehicle to provide social investment to entrepreneurs, charities, and projects. Since then, the “social investment” market in the UK has expanded rapidly, with the launch of Big Society Capital and a wide range of social investment Funds modelled on the original Bridges Social Entrepreneurs Fund.
Bridges continues to innovate its approaches, and has since then launched the world’s first Fund dedicated to investing in Social Impact Bonds (see www.bridgesfundmanagement.com/what-we-do/outcomes-contracts). The fund has backed more SIBs than anyone else, investing in 19 different contracts and in many social sector organisations to deliver these. We have seen these SIBs drive real change in provider organisations and significant impact for beneficiaries. As a result, we believe there is a growing evidence base that SIBs can drive real change in society. The fund is now looking to its next phase of growth, particularly focused in the social policy areas of Children’s Services and Health. These two sectors have an increasing evidence base of outcomes contracts and SIBs delivering for beneficiaries and providers and we believe the next few years will see strong growth in the number and scale of SIBs.
Bridges is now seeking a contractor to join the team. We are looking for someone exceptional to join for a 6-month period as we ramp up new contracts and support existing contracts to maximise their social impact.
The contractor will be responsible for leading the analytical and financial modelling work across some of our deals. This will require developing and refining financial models that will model the complexities of the project but also be straightforward to use and accessible to various stakeholders. It will also require working with social investment intermediaries and others to understand and work with them to refine their financial models. Central to this role will be developing a deep understanding of the operations of our investments and engaging with a range of senior stakeholders to develop assumptions and approaches that maximise impact.
The key attributes we will be looking for in a candidate
- A passion to drive social change. We are constantly searching for ways to dramatically improve outcomes for beneficiaries, and lower the cost of doing this. The children’s services and homelessness sector are two high profile, high impact markets where we believe we can make a difference.
- Ability to deliver more than the market expects. We believe that more is possible than the current system is achieving, and we need to demonstrate this in practice before others will believe it. This requires tenacity and relentless optimism.
- Ability to think differently. We will not succeed by copying existing models or structures. Our projects and investments all require the team to think through each problem from first principles, and find the most effective and efficient new solution in each case. This requires logic, analytical rigour, and a willingness to question every assumption.
- Ability to build trust. We aim for the edge of what we believe is possible, from ourselves and our partners – this can only be achieved through mutual trust. Everything we do must be open to scrutiny, and full transparency. This requires excellent interpersonal skills and absolute integrity.
- Responsibility for owning and driving forward the operational and financial analysis and modelling for new and existing SIBs.
- Engagement with commissioners, providers and intermediaries to design, develop and iterate accurate yet easy to use financial models.
- Work with various stakeholders to develop and refine key assumptions around operations and finance.
- Leading work to develop wider government and societal value impact business cases.
- Working with intermediaries and others in the sector to develop and refine deals.
- Supporting the writing of and presenting investment papers.
- Working closely with portfolio companies to maximise social and financial impact of investments.
Skills and Qualifications Required
- 3-5 years of experience working in consulting, finance or similar
- Experience in supporting the development of a comprehensive business plan / financial plan
- Excellent academic qualifications
- Strong financial and business analytical skills
- Strong interpersonal skills, adept at working with multiple, high level stakeholders
- Some experience of social sector / government commissioning would be desirable
- Good strategic, commercial and entrepreneurial judgement
Competitive package for the social investment sector, commensurate with candidate’s previous experience.
Interested candidates should submit their CV, along with a cover letter, to SIBrecruitment@bridgesfundmanagement.com by the 16th April 2018. Candidates must be able to demonstrate they are eligible to work in the UK.