Senior Associate, Impact Finance Operations

About Us

Social Finance is a national impact finance and advisory nonprofit. We work with the public, private, and social sectors to create partnerships and investments that measurably improve lives. Since our founding in 2011, we have mobilized $350 million in new investments designed to help people and communities realize improved outcomes in education, economic mobility, health, and housing.

We are driven by the belief that social and economic systems should enable all people to thrive, and the conviction that we can create the most meaningful and measurable change in our communities when governments and markets work together. Our organization is built upon five core values: people, performance, integrity, collaboration, and inclusion.

We work across three practice areas: Impact Investing, Impact Advisory, and Field Building. Through our Impact Investing portfolio, we design, launch, and manage impact-first investments and innovative financing solutions that generate positive outcomes for people and communities. In our Impact Advisory practice, we work alongside impact-focused leaders to implement data-driven practices that deliver better outcomes. And in our Field Building work, we share firsthand learnings and best practices to catalyze social impact in the field. We continually challenge ourselves and our partners to use funding and data in innovative ways to create lasting impact.

The Opportunity

Based in our Boston headquarters, this position is ideal for candidates who want to apply their accounting and finance expertise in a mission-based setting, focused on innovation and impact, and who thrive on being strategic and forward-looking, while also focused on managing the details and ensuring the highest quality of work.

Responsibilities

Reporting to the , Impact Finance, the Senior Associate, Impact Finance Operations is responsible for overseeing the ongoing management and reporting related to our Impact Finance portfolio of investment entities.  The position will be a critical part of a small fund accounting team, with substantial opportunity for growth and learning in a dynamic, mission-driven setting. The Senior Associate will also support multiple Impact Finance project teams in the development and management of impact investment entities. Responsibilities will include:

Impact Investing Operations:

This position will be required to manage the day-to-day accounting, financial and operational management of Social Finance’s portfolio of impact investing subsidiaries and affiliates. Representative responsibilities may include:

• Conduct transaction execution, cash reconciliations, month and quarter end reporting.
• Quarter end close – support completion of the quarter-end close procedures including: Review quarter-end balance sheet reconciliation schedules for balance sheet accounts; Review quarterly financial statements; Prepare quarter-end financial reports and analyses; Prepare investor capital account statements; Assist in managing the review of investor tax reporting (Limited Partner K1s and Form 1099 Int).
• Oversee and act as the main point of contact for third party administrators: Direct custodian and fund administrators in their management of the trial balance and financial reporting; act as the main point of contact for new entity setup; Manage the audit deliverable timelines and the requests for audit support; Supervise the semi-annual valuation of Level 3 securities by a valuation consultant and the fair value pricing models.
• Support Impact Investing project teams in development and management of impact investing entities.
• Report on ongoing operations of impact investing entities; manage any issues, responses and follow ups.
• Support the Impact Investing treasury function through overseeing capital calls and calculation of investor distribution amounts
• Support the Investor Relations function through distribution of quarterly reporting to all funders; responding to investor follow-up inquiries; and investor close support (review subscription agreements, calculate capital call and expense equalizations).
• Support management of stand-alone audits and assist with consolidation to the Social Finance, Inc audit.
• Liaise with Impact Investing project teams to maintain liquidity forecasts.

Finance Team Support:

• Assist the Corporate Accounting Team with interrelated impact investing finance work as needed
• Document accounting processes and procedures to demonstrate GAAP compliance.
  Participate as active team member in growing Finance Team to achieve all finance department goals.
• Participate in specific impact investing projects as needed
• Support execution of internal controls and provide ongoing input to improve processes and create greater efficiencies.

Qualifications

Social Finance is seeking a dynamic individual with strong interpersonal and problem-solving skills to join its growing fund accounting team. Qualifications and requirements include:

• Required experience:
• Accounting, Finance or related Business Management degree or equivalent
• 4 plus years of experience in audit (focused on financial services clients), corporate or investment management accounting
• Strong understanding of U.S. GAAP and internal controls
• Preferred experience:
• Advanced accounting degree (CPA or MSA)
• Tax reporting experience with K1 filings
• Fund management/accounting experience with alternative investments/hedge funds
• Strong Microsoft Word and Excel skills.
• Strong analytical and technical skills, as well as oral and written communication skills
• Ability to operate in a demanding environment while demonstrating a track record of high performance; high level of independence and motivation
• Proactive individual with an excellent ability to meet deadlines and to work independently with minimal supervision
• Ability to handle complex and confidential information with discretion
• Ability to adapt and be flexible
• Commitment to enhancing a team culture of inclusion, belonging and equity
• The following are not required, but would be considered as a plus for your candidacy:
• Experience in or with the systems we seek to impact
• Experience with Sage Intacct accounting software or similar systems a plus

Benefits

At Social Finance, we strive to deliver a benefits program that will enhance our overall value proposition to employees. Our current benefit offerings include:

• Comprehensive health care coverage: medical, dental and vision insurance; flexible spending accounts; Employee Healthy Actions programs and more
• Retirement savings plan with employer contribution
• Short-term, long-term and life insurance policies
• Commuter benefits and cell phone reimbursements
• Hybrid work model (in office a minimum of two days per week and on an ad hoc basis)
• Dedicated budgets for team building and employee recognition
• Annual budget for external professional development opportunities
• Mentorship and onboarding programs
• Collaborative and energizing workspaces in downtown Boston, San Francisco, Austin and Washington, D.C.; New York, NY
• Paid vacation and paid holidays (with 12/24-1/1 off every year)
• Paid parental leave
• A truly stellar team of high performing, values-driven and fun (!) professionals

Salary

Social Finance uses a lockstep compensation model for purposes of equity and transparency – we strive for everyone coming in at a given level to be paid equitably. For this position, at the Senior Associate level, the starting base salary is $98,000; however, during the interview process, we will take into account a candidate’s full work experience and may adjust the job title, and commensurate starting salary, as appropriate. At this level, employees receive an automatic $2,500 adjustment annually and a bonus of 5-10%.

Review of applications will begin immediately. No phone calls, please.

Applicants must be permanently authorized to work in the United States on a full-time basis.

Please note that, at this time, to be in-person at a Social Finance office, client location or Social Finance-sponsored event, you must be fully vaccinated against COVID-19, including receiving a booster shot.

Social Finance, Inc. is an equal opportunity employer, and all qualified applicants will be afforded equal employment opportunities without discrimination because of actual or perceived race, color, national origin, sex, age, religion, creed, disability, marital status, citizenship, ancestry, personal appearance, sexual orientation, gender identity or expression, political affiliation, military status, status as a protected veteran, genetic information or any other legally protected status.