Director of Investments - Asia, WaterEquity
Category: Full-time Employee or Contractor
Reports to: Director of Portfolio Development - WaterEquity
Location: Jakarta, Indonesia preferred; alternative locations in Asia will be considered in key investment geographies or strategic hub cities
Effective: June 6, 2017
Water.org is a global non-profit based in Kansas City, MO working to ensure safe water and sanitation for all. 660 million people – about one in ten – lack access to safe water. 2.4 billion people don’t have access to a toilet. These are the people Water.org serves.
Water.org founded WaterEquity, Inc. as a stand-alone investment management company to raise and deploy social impact investment capital to enterprises serving water supply and sanitation needs at the base of the economic pyramid. WaterEquity taps into global capital markets and builds on Water.org’s 25 years of experience and success to help scale and accelerate their solutions, such as WaterCredit. We are here to help end the global water crisis. Visit us to find out more at http://waterequity.org.
In 2016 WaterEquity launched its inaugural investment fund, the WaterCredit Investment Fund 1, an $11M local currency debt fund in India. WaterEquity will launch its second debt fund for accredited investors, a $50M debt fund targeting investment in India, Indonesia, Cambodia and the Philippines in 2018. WaterEquity has identified a robust pipeline of potential borrowers for the new fund. Projected investments include 65% tier 1 MFIs, 25% tier 2 MFIs and 10% water and sanitation SMEs. Investments will include senior and subordinated loans in USD and local currencies, ranging from a minimum of $250k to a maximum of $7.5M. WaterEquity expects to complete fundraising for the new fund by December 2017 and initiate investments in Q1 2018. WaterEquity is building out staff capacity to manage WCIF3 and raise and deploy additional funds targeting the water and sanitation sector.
Based in a key investment geography or strategic hub-city in South or Southeast Asia, the Director of Investments, Asia will lead the regional development of a portfolio of impact investments in the water and sanitation sector. The primary focus of the role in the first year will be building-up the investment pipeline to ensure the successful deployment of $50M in additional capital in four Asian countries by 2018. In this pursuit, s/he will work in close partnership with other members of the Investment Management team in India and the United States.
Pipeline enterprises will meet the investment criteria of current and future funds administered by WaterEquity. With regards to the new fund, pipeline enterprises will include financial institutions with water and sanitation loan products, privately owned utilities, SMEs, and other water and sanitation-related enterprises. A significant portion of the investment portfolio will be comprised of microfinance institutions that have launched water and sanitation microloan products through Water.org’s WaterCredit program.
While WaterEquity will be a separate legal organization from Water.org, the organizations share a common mission and will continue to collaborate and seek opportunities to maximize impact through strategic alignment. Water.org is a sector leader and has an established presence in the target investment countries, and WaterEquity will leverage and complement those resources. However, WaterEquity will establish fully independent operational capacity and assume full responsibility for executing and managing investments in the water and sanitation sector.
The Director of Investments, Asia will be responsible for introducing investment products to potential investment candidates and cultivating relationships with qualified candidates. S/he will conduct due diligence and structure investments in close collaboration with regional and US-based WaterEquity colleagues. S/he will also work with colleagues to ensure disbursement of funds and effective monitoring of the investment portfolio. S/he will be a key point of contact for local investees and represent WaterEquity to a variety of sector stakeholders. To deliver on these tasks the candidate must have outstanding communication skills, an ability to anticipate and deliver on the needs of a fast-paced and innovative business, and the flexibility to manage a wide range of projects simultaneously.
The Director of Investments, Asia will report directly to the Director of Portfolio Development and will be part of an international team of at least two Asia-based investment staff and one US-based Portfolio Manager. S/he will also coordinate with local Water.org programmatic staff members based throughout Asia, who are overseeing technical assistance programs with many of the same water and sanitation enterprises and financial institutions.
WaterEquity is in a start-up phase, and the position will evolve quickly as the team grows and priorities change. The candidate must be highly adaptable to change and willing to play a variety of roles as we launch additional funds and hire staff. S/he should be comfortable working remotely from other team members, including across borders. The assignment will require domestic and international travel within Asia and occasionally to the US (total travel up to 50% at times, contingent on location), particularly in the early stages of portfolio development.
Regional Leadership and Strategy
- Develop national-level and fund-level investment plans including identification and analysis of priority sectors and candidates for investment.
- Lead and mentor internationally dispersed Asia investment team with respect to prospect screening, deal structuring, due diligence, financial analysis, investment proposals, and legal documentation.
- Ensure strong coordination with Water.org program leadership in Asia to coordinate local partnership initiatives that will enhance active portfolio management, improve the social impact measurement of existing BOP investments in collaboration with the M&E team, and leverage Water.org’s subject-matter expertise during new investee due diligence process.
- Collaborate closely with the Managing Director and Director of Portfolio Development to drive WaterEquity expansion strategies and design of future investment funds.
- Continuously monitor changes to local regulatory, political and economic environments to inform investment instruments, portfolio allocation and risk management.
- Liaise with fund-level Investment Committees, Stakeholder Committees and WaterEquity Board of Directors in the presentation of investment opportunities and/or new strategic initiatives.
- Represent WaterEquity to key sector stakeholders and investors.
- Develop investment pipeline through the identification of potential investees, marketing of WaterEquity investment products and cultivation of relationships.
- Lead screening, due diligence and credit appraisal of potential investment candidates.
- Prepare credit appraisal reports and investment proposals including appropriate loan structuring to ensure optimal risk/return trade off with emphasis on social impact.
- Present eligible investments to the Director of Portfolio Development and Investment Committees.
- Working with WaterEquity Operations and Compliance Departments, as well as legal counsel, ensure timely disbursement/investment of funds including legal documentation.
- Maintain local relationships with clients and ensure effective monitoring of financial and social performance.
- Monitor and manage investment portfolio risk and lead restructurings and workouts.
- Work with WaterEquity Compliance Department to coordinate with outside counsel in investment jurisdictions to ensure compliance with local regulatory requirements such as investment approvals, tax payments, and government reporting.
- Timely and cost-effective disbursement of investment funds will be a near-term objective as we launch operations in three new Asian countries. Includes legal documentation, conditions precedent, and regulatory approvals to enable disbursement of approved loans.
Skills and competencies
- Communicates Effectively – Developing and delivering multi-mode communications that convey a clear understanding of the unique needs of different audiences.
- Manages Complexity – Making sense of complex, high quantity, and sometimes contradictory information to effectively solve problems.
- Customer Focus – Building strong client relationships and delivering customer-centric solutions.
- Nimble Learning – Actively learning through experimentation when talking new problems, using both successes and failures as learning fodder.
- Drives Results – Demonstrated ability to design, launch and scale new projects and initiatives.
- Collaborates – Building partnerships and working collaboratively with others to meet shared objectives.
- Self-development – Actively seeking new ways to grow and be challenged using other formal and informal development channels.
- Optimize Work Processes – Knowing the most effective and efficient processes to get things done, with a focus on continuous improvement.
- Manages Ambiguity – Manages ambiguity by operating effectively, even when things are not certain or the way forward is not clear.
- Instills Trust – Gaining the confidence and trust of others through honesty, integrity, and authenticity.
- Financial Stewardship – Demonstrates fiscally responsible decision making as applicable to one’s role.
- Minimum 15 years of experience in the financial sector, with at least 5 years of experience overseeing an investment portfolio or fund.
- MBA or equivalent professional experience required.
- High degree of Excel proficiency - the ability to create and maintain financial projections.
- Experience with cross-border financial transactions.
- Proactive problem solving attitude and willingness to adapt to an evolving role in a startup environment.
- Experience in the microfinance and/or water and sanitation sector.
- Experience in social finance/social impact investing.
- Fluency in Bahasa Indonesia, Hindi, or Khmer preferred.
Willingness to travel
Salary and benefits
Details of compensation package will be dictated by employment/contract status, which will be determined based on location. Overall compensation will be commensurate with education and experience and structured to reflect a competitive package for a full-time senior-level team member.
No relocation benefits will be offered.
Water.org is an equal opportunity employer and is committed to providing an inclusive environment. We do not discriminate on the basis of race, color, religion, gender, gender expression, gender identity, age, national origin, ancestry, disability, marital status, sexual orientation, pregnancy status, military and veteran status, genetic information, and any other status protected by law. We provide qualified applicants and employees reasonable accommodation, when necessary, to enable individuals to complete the application process and/or perform the essential functions of the job.