Associate, Market Acceleration & Design Funding
Convergence CanadaFull TimeToronto, Ontario Or SingaporeHybrid
LOCATION: TORONTO, ONTARIO OR SINGAPORE
Convergence is the global network for blended finance. Blended finance is the use of catalytic public or philanthropic capital to increase private sector investment in places that need it most. We are the source for everything blended finance, including deals, data, reports, trainings, webinars, and much more. At Convergence, we believe that blended finance can disrupt traditional development finance as we know it, by attracting private sector funds to developing countries in volumes never before seen.
Convergence is a not-for-profit headquartered in Toronto. We operate globally and have a presence in Singapore, La Paz, Kigali, and Washington DC. Over the last eight years, we have built a robust network of over 170 public, private, and philanthropic investors as well as sponsors of blended finance transactions. To accelerate advances in the field, Convergence also provides grants through its Market Acceleration & Design Funding program, which funds the design of new blended finance solutions.
We are small but mighty. Join us if you want to be part of an energetic team with a unique role at the intersection of development and finance. We are passionate about and united around the goal of directing money to where it’s needed most – into developing countries and towards achieving the United Nations Sustainable Development Goals (SDGs). We have built a culture defined by our diversity, inclusivity, and ability to get things done. In this relatively new and growing organization, you can be sure that you’ll have a voice and leave your mark. Finally, we take our team members’ growth and well-being seriously, so we offer opportunities for professional development and team building as well as flexible schedules and generous time-off policies.
We are currently seeking an Associate, Market Acceleration & Design Funding to provide end-to-end support to one or more market acceleration/design funding programs.
POSITION DESCRIPTION
This role will report to a Sr. Associate on the Market Acceleration & Design Funding team, and they will support in executing Convergence’s market acceleration and design funding portfolio and contribute to the overall growth of the organization in the development finance space. This is an opportunity to work at the cutting edge of blended finance and fund the design and structuring of innovative financial instruments aligned to the UN Sustainable Development Goals.
RESPONSIBILITIES
The Associate will support the Market Acceleration & Design Funding team in the following areas:
Program Management:
- Manage incoming funding applications, communication with grant applicants, and usage of grant-management tools such as Optimy and Salesforce.
- Assist with the review of blended finance design funding grant applications and perform initial assessments of concept notes which may include -
- Evaluating a blended finance solution’s design, structural elements, and stakeholder frameworks
- Scoping blended finance instruments’ economics (in the form of financial and forecasting models)
- Evaluating a blended finance solution’s design criteria and SDG targets (including investment thesis)
- Evaluating a blended finance solution’s impact thesis plus the M&E and Impact Reporting Frameworks
- Assist with participation of review meetings with management and conducting of desk research on shortlisted applications to support recommendations.
- Assist the due diligence process on shortlisted proposals including stakeholder outreach and coordination.
- Support with preparing presentations for and participating in Investment Committee meetings.
- Help to structure and document terms and milestones in grant funding agreements.
- Prepare meeting minutes as well as draft memos and documents for Board approval.
Portfolio Management:
- Record key programmatic metrics and results for donor reports for government and large foundations.
- Support portfolio management activities for grantees such as helping to manage regular status reviews, reviewing the key deliverables relevant to milestone achievement, and providing input on the overall structuring approach.
- Support the drafting of external communications and content for the program as well as help to manage the development of webinar and/or training content.
- Support the team in implementing strategic initiatives such as developing forecasting exercises to improve operating projections, grant deployment decision-making, and usage of catalytic donor capital for the purposes of mobilizing private capital for the SDGs.
Research & Business Development:
- Analyze constraints preventing institutional investors from accessing SDG-related investment opportunities and identify trends in innovative blended financing solutions to unlock private capital.
- Collaborate across internal teams to identify new funding opportunities and develop proposals in response to opportunities.
Strategy & Engagement:
- Support upfront strategy development and scoping of new programs plus the launch and implementation.
- Support with the program’s stakeholder outreach and occasional administrative activities related to the day-to-day program implementation and overall portfolio management.
This is an illustrative list and activities may vary across different programs. In addition to the responsibilities above, the scope will evolve over time to match the needs of a growing and innovative organization.
The candidate should be open to flexible working hours to facilitate engagement across time zones.
QUALIFICATIONS & EXPERIENCE
We are looking for candidates with 1.5+ years of experience in some combination of finance, grant-making, project coordination, and proposal development/pitching. The ideal candidate will have:
- Bachelor’s degree in business, economics, international development, or a related field.
- Previous experience, preferably transactional experience, in finance, investment/corporate banking, private equity, venture capital/accelerators, impact investing, grant-making and/or NGOs, that demonstrates an understanding of advanced finance concepts and deal management skills.
- Demonstrated strengths in analytical capabilities and detail-oriented.
- Self-starter with excellent interpersonal and communication skills; client and relationship management experience with senior leaders preferred
- Ability to present information in a structured manner (especially written) and prepare pitch decks/presentations
- Able to work in a small entrepreneurial team environment
- Demonstrated interest in development finance and emerging markets; experience working in and/or understanding of emerging markets particularly in the Indo-Pacific region is preferred
- Broad understanding of the ecosystem of development finance institutions (DFIs), multilateral development banks (MDBs), and major government donors
- Broad understanding of diverse financial instruments/structures and financial models.
The following are not required but are a plus:
- Foreign language skills are a plus
- Exposure to climate finance and/or gender lens investing (GLI) is a plus
Candidates should be eligible to work in Canada or Singapore.
APPLICATION INSTRUCTIONS
We will be reviewing applications on a rolling basis, interested and qualified applicants are encouraged to apply early and in advance of the application deadline on February 15, 2025. Please note that you must submit a cover letter that discusses your interest in development, blended finance, and Convergence. Please note that due to the high volume of applications, we will only contact those selected for interviews.
Convergence believes in an inclusive environment. We celebrate the different viewpoints and experiences our diverse team members bring to our organization. Convergence encourages all individuals motivated by our mission and mandate to apply.