Summer 2017 Impact Intern
Aeris is the rating and information service that guides capital to good. Since 2004, Aeris has rated 120 community development loan funds (CDFIs) and provided due diligence, data, and consulting to nearly 150 impact investment institutions including foundations, banks, wealth managers, insurance companies, pension funds, and government agencies. In 2013, Aeris introduced the Aeris Cloud, a web-based data platform that provides highly-nuanced quarterly financial, portfolio, and impact data and analytics on community development loan funds that support investor due diligence and monitoring.
In 2015, working with the Global Impact Investing Network (the GIIN), impact investors, and CDFIs, Aeris launched the first phase of a project to help change the impact narrative of CDFIs to help them better connect to impact investors. In June 2016, we issued a guidance paper presenting impact focus areas and related standardized impact metrics. Aeris is now prepared to begin collecting standardized impact data from approximately 100 reporting CDFIs. This project has the potential to re-shape the impact investing landscape by leading to a new level of transparency and comparability of social impact to support community impact investors.
2017 Impact Internship
Aeris seeks a graduate student or recent college graduate to support the next phase of the impact data project during a 10- to 12-week summer internship. This is an exciting opportunity to learn about how CDFIs approach impact measurement and reporting, as well as how standardized impact metrics may help investors aggregate impact data in the future. The position reports directly to the President & CEO, and will also work closely with Aeris’ Operations Manager. The intern will be responsible for communicating directly with CDFIs to confirm assigned impact areas and required impact data for each reporting institution.
Specific responsibilities will include:
- Confirming with CDFIs (by email and phone) the impact focus areas and associated impact metrics that Aeris is asking each CDFI to begin reporting.
- Responding to inquiries by CDFIs about metric interpretation.
- Updating the Aeris Cloud to reflect CDFIs’ impact focus areas and required impact metric reporting.
- Testing investor-facing information on each CDFI to make certain updates are accurately captured.
- Working with Aeris staff on follow-up communications with CDFIs about next steps in reporting standardized impact data.
- Excellent oral and written communication skills
- Excellent interpersonal skills, ability to work well with diverse constituents
- Working experience with impact evaluation
- Demonstrated ability to work independently
- Knowledge of impact investing and community development
- Undergraduate degree
Interested candidates must submit a cover letter stating their interest and availability, as well as a resume to firstname.lastname@example.org, ATTN: Impact Internship. Aeris will be interviewing promising candidates in early May.
Financial Institutions Specialist
Aeris guides capital to good. Since 2004, the nation’s leading community investors have used Aeris’ data and ratings to support their community investing. Aeris’ clients range from large financial institutions with Community Reinvestment Act (CRA) obligations, mission-driven charitable foundations, government, private wealth managers, and more. Our proprietary CDFI ratings and analytics help investors evaluate opportunities that meet their impact goals and risk parameters. Learn more at www.aerisinsight.com.
Aeris seeks numbers-loving Financial Institutions Specialists who will contribute to our leading-edge analysis and data collection initiatives. Successful candidates will bring a keen attention to detail, as well as finely-honed skills in the analysis of financial statements. We are seeking candidates who may have less experience but are looking to grow along with our organization, as well as mature professionals interested in a second career, and who are comfortable in a fast-paced, startup-like environment.
Both full-time (on-site at our Philadelphia headquarters) and part-time, off-site (Philadelphia area preferred) opportunities are available. Applicants should specify in their cover letter which position they are interested in.
Duties will involve interacting with Aeris-rated institutions and Aeris analysts in critical phases of the production of Aeris Rating Reports, most significantly in the preparation of data and tables for further analysis by our expert analysts. Financial Institutions Specialists will also play a key role in the operation of the Aeris Cloud, a custom-built web application enabling industry-first, real-time analytics of CDFI performance data.
Financial Institutions Specialists will be responsible for reviewing and proofing financial statements, and working with reporting institutions to address any errors and omissions. Specialists will also spread financial statements from institutions’ internally-generated format to the Aeris industry-standard format.
Aeris is seeking candidates with Bachelor’s Degree in a business major, preferably with some professional experience in financial services or accounting; or other candidates with the requisite skills.
Key success measures include quality, quantity, accuracy, timeliness, and team work. These require:
- Strong financial and analytical experience
- Familiarity with nonprofit financial statements (preferred)
- Strong financial, market, and qualitative analysis skills
- Strong written and verbal communications skills
- Ability to focus on detailed work for accuracy
- Advanced Microsoft Excel and Word skills, knowledge of Sharepoint
- Normal physical requirements for an office position (EOE/ADA Compliant)
To apply please email cover letter and resume to email@example.com with the subject line “Search: Financial Institutions Specialist, Aeris.”
Aeris seeks qualified consultants to analyze and rate community development financial institution (CDFI) loan funds.
Aeris was established in 2004 and has grown into the performance standard used by investors to assess CDFI loan fund performance. Aeris applies its proprietary ratings methodology to assess a CDFI’s impact performance and financial strength. The CARS® Impact Performance Rating assesses alignment of the CDFI’s programs and products with its mission; how effectively the CDFI uses its resources—both on-and off-balance sheet; the appropriateness of output and outcome data and how such data is used by the CDFI to determine the effectiveness of its products and strategies relative to its mission. The Financial Strength and Performance Rating assesses overall creditworthiness from the perspective of an unsecured investor with a 3-5 year investment horizon based on an in-depth analysis of capital strength, asset quality, management capacity, earnings, and liquidity (CAMEL).
Aeris analysts are part of a team of finance professionals, both staff and external consultants, that prepare ratings analyses and annual assessments, provide quality control review, participate as a voting member of the ratings committee, and, from time to time, contribute to modifications and adjustments to the CARS® methodology. Aeris analysts are among the most experienced and sought after CDFI advisors and underwriters in the field.
Qualified consultants will have extensive experience underwriting CDFI loan funds or other financial institutions for investment. Experience with nonprofit financial statements is a plus. In addition to strong analytical skills, Aeris analysts must have excellent written and verbal communication skills, working knowledge of financial statements (both nonprofit and for-profit), and proficiency in MS Office products, especially Excel and Word.
Submission of Qualifications
Aeris. will accept statements of qualifications until Aeris’ contract needs are met. Send one electronic copy of your technical qualifications to:
Director of Ratings
Experience. Provide examples of prior underwriting experience, with particular attention to underwriting CDFIs and/or nonprofit entities. Note generally the size and type of entities underwritten, the purpose of the underwriting (grant, loan, or investment), and whether underwriting experience was for an investor(s) in CDFI loan funds.
Examples. Provide at least two writing samples demonstrating expertise in both financial analysis and written communication.
Biography. Provide a resume, CV, or brief biography.
Scope of Work
Prepare Aeris Ratings Reports™. Aeris rates CDFIs based upon a rigorous and comprehensive due diligence process culminating in a detailed written analysis. Analysts typically work in teams of two, one of whom is responsible for the impact and management sections of the report, and the other for the capital, asset quality, earnings, and liquidity analysis. Preparation of the report requires constructive collaboration, clear communication, and a concise and thorough narrative that addresses strengths and areas of risk.
The process involves a) analysis of five years of financial information, including audits and portfolio performance reports, along with review of written policies and narrative documents relating to impact, financial performance, and management; b) two days of on-site interviews with management and board members; c) writing the draft Ratings Report, averaging 45 pages in length including numerous tables and charts; and d) presentation and recommendation to the Aeris rating committee.
Prepare Aeris Annual Review reports. CARS®-Rated CDFIs receive an Annual Review in each of the two years following the ratings decision. Annual reviews are desk reviews conducted by one analyst, and focus on significant changes in performance since the date of the full ratings report. The reports are prepared using documents submitted by the CDFI, the most recent fiscal year-end audit, and phone interviews. Annual review reports average 15 pages in length, including numerous tables and charts.
Aeris Ratings Committee. Aeris Analysts participate on ratings committees for both annual reviews and full ratings. Committee meetings are held via conference call. Using the ratings report, committee members score a CDFI based on codified ratings guidelines. Ratings are finalized based on committee discussion and questioning the analysts who prepared the analysis.
Type of Contract
Aeris seeks to enter into a retainer agreement with qualified consultants for a specified quantity of work over a defined period of time.