Vice President, Group Finance (Full-Time)

The Global Innovation Fund (www.globalinnovation.fund) (GIF) is a non-profit, social-first investment vehicle established as a ‘VC for fragile places’ to find, fund, and scale-up cost-effective,

evidence-based innovations that have the potential to measurably improve the lives of millions of people living on $5 a day or less. GIF was founded to invest in innovations in the public or private sector that will inspire fresh thinking and create better solutions in developing countries.

GIF is focused on doing more with less to turn ideas into impact. To achieve the Sustainable Development Goals, the development community needs to draw on the resources of the private sector. GIF’s commitment to being part of the bridge between entrepreneurs and development finance challenges us to be creative and to seek the partnerships that drive creativity, dynamism, and collaboration. GIF’s unique hybrid model, as both a UK registered charity/US 501(c)3 and an investor, reflects our dual mission: to invest in innovations that improve the lives of the poor, and to demonstrate how bringing evidence and the power of the private sector to bear can create new solutions to persistent development problems.

GIF offers grants, loans and equity-type investments ranging from $230,000 USD to $15 million USD to support a range of innovations with strong potential for social impact at a large scale. We support innovators at different phases of development, ranging from early start-up and pilot-testing to rigorous experiments and larger scale implementation. The innovations GIF supports can be located in any developing country and may focus on any sector relevant to international development.

In 2024, GIF is also launching a new returnable capital vehicle, called GIF Growth, anchored by leading DFIs and private investors to further GIFs mission. GIF together with its subsidiaries – GIF Growth, GIF US (501 c3) and GIF Kenya comprises the GIF Group.

POSITION SUMMARY

GIF seeks to hire a Vice President, Finance (VP Finance) to lead on GIF group’s financial management.

The VP Finance will report to the CIO and work closely with the CEO and CIO to manage a

world-class social investment fund and to generate opportunities that secure GIF’s long-term financial sustainability. She/he will lead a dynamic finance team whose broad range of functions include financial planning and analysis, due diligence, and cash flow monitoring, statutory and donor/investor reporting, management accounting and treasury and other day-to-day financial operations. The VP Finance will be expected to report on GIF’s financial status and strategies to the Board, in particular the Audit & Finance Committee. She/he will be a member of GIF’s senior management team and will report directly to the Chief Executive Officer.

The VP Finance will be accountable for:

●      Overseeing the financial strategy that outlines GIF’s ambitions with regard to pace of disbursement, overall financial return on investment and future sources of finance;

●      Oversight of the cashflow management and fund allocation that helps GIF executive team and the Board to understand key information regarding GIF Group’s revenue and expenditure both with regard to investments and operations;

●      Working closely with the CEO and CIO to ensure that financial operations are advancing the strategic operating plan.

●      Determining and overseeing GIF Group’s statutory and non-statutory reporting obligations in the UK, the US and globally, including tax and regulatory filings, management of the external audit and other audit processes and periodic or ad hoc reporting to GIF’s donors and GIF Growth Investors;

●      Oversight of the operational arrangements for managing GIF Group’s finances, including accounting software, the ledger and books of record, banking, disbursements and receipts, expenses.

●      Safeguarding GIF Group’s assets, including by optimizing the investment of its surplus reserves in compliance with GIF’s and GIF Growth’s Treasury Policy

●      Overall responsibility for GIF Group’s system of internal controls, including compliance with GIF Group’s corporate policies, particularly the Procurement Policies and the Expenses Policies

●      Direct line management and mentoring of a small finance team. The VP Finance is also expected to oversee the GIF group’s operations, working closely with an operations associate/analyst, Office Manager and Sr. HR partner which largely involves management of GIF offices, technology and software tools subscriptions and administration, oversight of payroll data and setting up systems and processes for data management required for compliance and reporting.

GIF is a dynamic organization and in rapid growth phase; the VP Finance will be expected to adapt quickly to the needs of the organization and could have a range of other duties as assigned. The role will be primarily office-based but travel for the purposes of visiting GIF’s investees and GIF’s wider stakeholders will be required on a periodic basis.

REQUIRED SKILLS, EXPERIENCE, AND ATTRIBUTES

●      10+ years of relevant track record in strategic financial management, with experience of social investment, managing donor stakeholders and line management preferred

●      Experience of working in a fund, especially an Impact Investing fund/organization or a DFI is strongly preferred

●           A recognized accountancy qualification such as the ACA, ACCA. Candidates with advanced finance degrees, MBA or CFA with relevant experience will also be considered.

●      Strategic vision and analysis: the ability to think strategically, anticipate future consequences and trends, set priorities and make smart decisions to help GIF achieve its goals

●      Action-oriented, entrepreneurial, flexible, and innovative approach to financial management

●      An understanding of the management, legal, tax and regulatory challenges of non-profits in the UK will be a good to have;

●      Ability to build strong relationships with fellow team members, and the other leaders of GIF (such as the Board)

●      Excellent technical and analytical ability

●      Strong written and verbal communication skills

●      A demonstrated commitment to GIF’s mission, values and theory of change

●      Passion, humility, integrity, team player, and a spirited sense of humour

ADDITIONAL INFORMATION

This role will be based in our London office once present pandemic restrictions are lifted and it is safe to return to the office. Any job offer made will be subject to the successful candidate having the authorization to work in the UK prior to commencing work at GIF.

HOW TO APPLY

The applicants are urged to follow the instructions available at https://app.beapplied.com/apply/5dgxkxvnj3. The evaluation of applicants will be conducted on the basis of the information submitted in the application and in accordance to the evaluation criteria of the job opening. The application process will close on 12 April.

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