Careers at Bridges
Director, Health Social Impact Bonds
|The Role:||To provide strategic, operational and analytical support to the Health Social Impact Bonds (SIBs)|
|Responsible to:||Bridges SIB team|
|Start Date:||As soon as possible|
|Status:||4 – 5 days a week post for 12 months with potential for extension|
A unique and exciting opportunity to build and drive forward our work in the health and social care Social Impact Bond portfolio, supporting leading social care services providers to develop, deliver and scale outcomes based models for social prescribing and community care.
The Bridges Social Impact Bond (SIB) Fund was the first fund in the world dedicated to investing in Government-commissioned outcomes contracts, and has a mission to provide the capital and support to help social sector organisations deliver outcomes contracts. As the leading SIB investor in the world, Bridges is committed to better outcomes and better values for communities and local commissioners, and has invested in 27 SIBs with contract values totalling £70m (over half of all SIBs launched in the UK), focused on various sectors to help government and the third sector drive greater impact.
In health and social care services, Bridges helped set up the first ever health-focused SIB, Ways to Wellness, addressing 11,000 patients with Long Term Conditions (LTC) across some most deprived areas of Newcastle. Building on this experience, Bridges recently supported two more health focused social outcomes contract. These initiatives have a potential to scale up nationally conditional on successful outcomes, and deliver immense social value to patients and families, and large savings to the NHS budget.
The investments have been structured as Social Impact Bonds, which means the Government commissioner will only pay if the programmes succeed in keeping the users engaged and successfully meet specific health and well-being outcomes. The SIB approach empowers front line teams with the flexibility and resources to provide a genuinely tailored and effective service, and stimulates innovation by creating a safe space for providers to trial new and different approaches to supporting their patients. Bridges has an aspiration to back new and existing investees to do more health and care outcomes contracts and bring this model into mainstream service commissioning.
The Director will be central to this aspiration. The post holder will manage the existing portfolio but also drive forward the growth of investments over the coming 12 months in number, scale and scope. The contracts will span a variety of cohorts and delivery models.
Role Outline and Description
The Director will report to and work closely with the SIB investment team at Bridges. The role will have three focus areas:
- Supporting existing investments: The Director will work closely with the leadership of our investees, senior leads from the local government and the project teams to support, guide and challenge them to achieve maximum impact. This will mean leading performance management, helping build capacity where needed and working together to understand opportunities to achieve greater impact with the interventions. The Director will also conduct or commission bespoke research, analysis, and policy development in this area, to inform the debate and design of the approaches needed to achieve better outcomes for participants referred to the programmes
- Supporting new investments: There are a range of new opportunities that we hope to agree with providers / commissioners over the next 12 months. The Director will lead this relationship building across the sector, co-developing proposals with providers and supporting their work in bidding and winning projects. The Director will also actively participate in the design of strategic and operating models to support greater collaboration across social service providers, local government and commissioners
- Scaling outcomes contracts: We have a growing evidence base that outcomes contracts can be a powerful tool in achieving outcomes within health and care services. The Director will work with investees and wider sector partners to refine and deepen the evidence base for this model of contracting. The Director will use our experience to date and the evidence we gather to raise the profile of outcomes commissioning across the sector and drive it to scale
- Providing the oversight, stakeholder management and analytical / problem solving / limited operational support where needed to our existing investments to help them achieve maximum results
- Providing support, guidance, performance and contract management to existing and new investments
- Driving the development of our work in health and care services outcomes contracting through supporting the replication of successful health and care services contracts
- Proactively seeking out new opportunities for outcomes contracts and investments
- Building cross-sector relationships and partnerships that can support the continued growth of outcomes contracting
- Working with new and existing providers to win new contracts and grow the scale of our health and care services work
- Refining and articulating our impact approach within the sector
You will have the following skills and experience:
- Excellent leadership, project management, and strategic development skills
- Excellent senior stakeholder skills and inter-personal skills
- Mind for details and operational delivery experience
- Comfort with numbers and performance management
- Understanding of public policy
- Entrepreneurial mindset
- Enthusiasm for outcomes contracting and driving systems change
- Experience of successful operational delivery of projects
- Experience in health and care or related social sector
- Experience working with Local Government (desirable)
- Experience growing / developing a business / social sector organisation (desirable)
Position: 12 months full time with potential to extend based on performance
Salary: Negotiable dependent on experience
Expressions of interest should be no more than 2 sides of A4, detailing how the candidate meets the requirements of the role description and the key competencies. These should be returned to SIBrecruitment@bridgesfundmanagement.com no later than 10.00pm on 3rd August 2018. Interviews are expected to take place between 7th and 8th August 2018 with the intention that the successful candidate will be able to commence their duties as quickly as possible.
Investment Director, Social Sector Funds
The Role: To assess new investment opportunities, structure investments and manage portfolio companies for Bridges Evergreen Holdings
Responsible to: Head of Bridges Evergreen Holdings
Start Date: September 2018
Bridges is a specialist fund manager dedicated exclusively to using an impact-driven investment approach to create attractive societal and financial returns. 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.
Across all our funds, our team provides valuable expertise and a huge network of contacts which help us work with our investments to give them the best chance to flourish.
The Social Sectors Funds team is a pioneering investor in mission-led enterprises. We started with the Social Entrepreneurs Fund raised in 2008 that invested into successful mission-led businesses. This was followed by two funds; the first, a dedicated Social Impact Bond Fund raised in 2013, was the world’s first dedicated fund supporting the delivery of high impact outcomes contracts. The second is Bridges Evergreen Holdings, launched in late 2016. BEH is the UK’s first permanent capital vehicle for investment into mission-led organisations.
BEH has made three investments to date and deployed most of the initial capital raised. It is currently closing a capital increase at £50m (from an initial £22.5m). BEH provides equity and loan capital to innovative and impactful social sector organisations, supports employee owned businesses and spin outs of mission-led businesses from the public sector, and invests in established for profit businesses which have the potential to deliver more impactful services and accelerate growth through migrating to a mission led model.
Bridges is now seeking an Investment Director to join the BEH team and help expand further its portfolio
The role is full time.
- Identifying high impact sectors/businesses
- Analysing and structuring new investment opportunities
- Evaluating management teams
- Presenting investment papers
- Working closely with portfolio companies to maximise both the financial and social impact of investments
Skills and Qualifications Required
- 5+ years experience in deal origination and a successful track record of deal execution
- Excellent academic qualifications
- Strong financial and business analytical skills
- Operational experience to support growing teams and dynamic growth businesses
- Commercial acumen
- Good strategic, commercial and entrepreneurial judgement
- Keen interest in sustainable and impact investment
- Ability to communicate well with entrepreneurs and influence boards
- Good written and oral communication skills
- Excellent interpersonal skills
- Proven ability to work independently and within a team
- Flexibility to work within a growing environment
The candidate will have had 5+ years experience in deal origination and execution.
Competitive package, commensurate with candidate’s previous experience
Interested candidates should submit their CV, along with a cover letter, to firstname.lastname@example.org, using reference ‘BEH ID Application’.