1+ months

Assistant Vice President, Investments - Initiatives

NYCEDC
New York, NY 10001
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  • Job Code
    108495271


Initiatives
New York, New York

NYCEDC's vision and mission: Our vision is to make New York City the global model for inclusive innovation and economic growth, fueled by the City's diverse people and businesses. Our mission is to make investments in strengthening neighborhoods and spurring the creation of good jobs.

NYCEDC's Initiatives Department: Initiatives is a thirty-five person team that designs and implements programs to support growth in EDC's priority industries such as Life Sciences, Cybersecurity and Advanced Manufacturing. To support its goals, Initiatives frequently conducts procurements for, and contracts with, private sector and non-profit operators to run economic development programs such as:
  • Startup Incubators & Accelerators: programs that provide early-stage startups with resources to support growth, such as space and mentorship (e.g. Urban Tech Hub, Futureworks Advanced Manufacturing Center)
  • Workforce Development Initiatives: programs that provide New Yorkers with opportunities to learn skills to access good-paying jobs (e.g. Cybersecurity Bootcamp, Life Sciences Internship Program)
  • Industry Events & Convenings: short- and long-term programs that promote connections between key actors in industry ecosystems, such as connecting buyers and sellers (e.g. Digital Health Marketplace, Blockchain Week)
  • Strategic Funds: EDC investment vehicles structed to support investments in local startups and businesses in priority industries (e.g. Early Stage Life Sciences Fund)

Your role:

This is an exciting new position within the Initiatives Department, and the new AVP will play a significant part in defining their role within the group and the organization. On a day-to-day basis in this position, you can expect to:
  • Conduct due diligence of RFP respondents, and assist in negotiations with operators:
    • Develop detailed understanding of respondents to RFP, including their business model, past experiences, and proposed plan for scaling an EDC-sponsored operation
    • Lead the analysis of financial statements provided by potential operators and other publicly available information to identify key risks to EDC in contracting with that operator
    • Work with project teams to make recommendations to senior leadership around deal terms and investment structure for preferred respondents to RFP
    • Support contract negotiations with operators, with a particular focus on the financial terms of a given deal
  • Serve as a thought-leader within the Initiatives Department around innovative approaches to financing high-impact public programs
    • Develop strategies to better leverage EDC's investment in new initiatives by attracting capital from additional partners (e.g. corporations, non-profits)
    • Make recommendations around alternative financial structures that the Initiatives team should use to optimize the double bottom line impact of future investments
  • Support industry-specific teams in the diligence of potential new initiatives and structuring of Requests for Proposal (RFPs):
    • Use quantitative and qualitative analysis methods to identify market gaps in local industry ecosystems and design appropriate programs to address them
    • Work with project teams to develop the vision for the underlying business model and financial structure of new initiatives/programs, and incorporate these ideas into RFPs
    • Support teams in creating programs budgets and defending funding recommendations to EDC leadership and the City's Office of Management and Budget
    • Work across departments as part of a team to test ideas, build buy-in, and support collective skill-building
  • Support ongoing monitoring and evaluation efforts of EDC's partners
    • Assist in the annual reviews of contracted operators to determine if they are performing well financially, and achieving intended policy outcomes
    • Develop recommendations on how EDC and its partners can continue to improve the performance of existing investments
    • Plan for and support project completion through successful closure, transfer, or repositioning

About you:
  • Curious, highly analytical, and collaborative
  • Strong understanding of financial statement analysis, public-private partnership deal structures, and deal term structuring to incentivize outcomes and manage risk
  • Enjoy building and reviewing financial statements and detailed Excel models
  • Ability to communicate investment recommendations in a clear manner to both expert and non-expert audiences
  • Comfortable interfacing with senior officials, external partners, and business leaders
  • Passionate about public policy, economic development, cities, and New York City

Qualifications:
  • Undergraduate degree required, MBA or other relevant advanced degree a plus
  • Minimum 5-7 years of work experience, preferably in a role that required building out rigorous investment recommendations (e.g. Private Equity, Credit/Equity Research Analyst, Asset Management)
  • Preference for candidates with demonstrated interest or experience in investing, economic development, New York City, and/or public policy issues
  • New York City residence is required within 180 days of hire

About NYCEDC:

New York City Economic Development Corporation is the City's primary vehicle for promoting economic growth in each of the five boroughs. NYCEDC's mission is to stimulate job growth through expansion and redevelopment programs that encourage investment, generate prosperity and strengthen the City's competitive position. NYCEDC serves as an advocate to the business community by building relationships with companies that allow them to take advantage of New York City's many opportunities. Additional information on NYCEDC can be found by visiting http://www.nycedc.com/.

Our Diversity & Inclusion Mission is to attract, retain, and engage a diverse workforce comprised of talented people. Like the city of New York, NYCEDC knows our strength comes from each of our connected parts, making the fabric of our organization better and stronger because of our unique employees' talents. NYCEDC employees can expect to work as part of a highly engaged, passionate and inclusive workforce where everyone's contributions are valued, respected, and make an impact on one of the best and most diverse cities in the world!

The New York City Economic Development Corporation is an Equal Opportunity Employer. NYCEDC offers excellent benefits, including company-paid 401 (a) pension plan, 457(b) tax-advantaged retirement savings plans, medical, dental and vision benefits<br/><br/><b>Initiatives</b><br/><b>New York, New York</b><br/><br/><strong>NYCEDC's vision and mission: </strong>Our vision is to make New York City the global model for inclusive innovation and economic growth, fueled by the City's diverse people and businesses. Our mission is to make investments in strengthening neighborhoods and spurring the creation of good jobs.<br><br><strong>NYCEDC's Initiatives Department: </strong>Initiatives is a thirty-five person team that designs and implements programs to support growth in EDC's priority industries such as Life Sciences, Cybersecurity and Advanced Manufacturing. To support its goals, Initiatives frequently conducts procurements for, and contracts with, private sector and non-profit operators to run economic development programs such as:<br><ul><li><strong>Startup Incubators & Accelerators:</strong> programs that provide early-stage startups with resources to support growth, such as space and mentorship (e.g. Urban Tech Hub, Futureworks Advanced Manufacturing Center)</li><li><strong>Workforce Development Initiatives: </strong>programs that provide New Yorkers with opportunities to learn skills to access good-paying jobs (e.g. Cybersecurity Bootcamp, Life Sciences Internship Program)</li><li><strong>Industry Events & Convenings: </strong>short- and long-term programs that promote connections between key actors in industry ecosystems, such as connecting buyers and sellers (e.g. Digital Health Marketplace, Blockchain Week)</li><li><strong>Strategic Funds: </strong>EDC investment vehicles structed to support investments in local startups and businesses in priority industries (e.g. Early Stage Life Sciences Fund)</li></ul><br><strong>Your role:</strong><br><br>This is an exciting new position within the Initiatives Department, and the new AVP will play a significant part in defining their role within the group and the organization. On a day-to-day basis in this position, you can expect to:<br><ul><li><strong>Conduct</strong><strong> due diligence of RFP respondents, and assist in negotiations with operators:</strong></li><ul><li>Develop detailed understanding of respondents to RFP, including their business model, past experiences, and proposed plan for scaling an EDC-sponsored operation</li><li>Lead the analysis of financial statements provided by potential operators and other publicly available information to identify key risks to EDC in contracting with that operator</li><li>Work with project teams to make recommendations to senior leadership around deal terms and investment structure for preferred respondents to RFP</li><li>Support contract negotiations with operators, with a particular focus on the financial terms of a given deal</li></ul><li><strong>Serve as a thought-leader within the Initiatives Department around innovative approaches to financing high-impact public programs</strong></li><ul><li>Develop strategies to better leverage EDC's investment in new initiatives by attracting capital from additional partners (e.g. corporations, non-profits)</li><li>Make recommendations around alternative financial structures that the Initiatives team should use to optimize the double bottom line impact of future investments</li></ul><li><strong>Support industry-specific teams in the diligence of potential new initiatives and structuring of Requests for Proposal (RFPs):</strong></li><ul><li>Use quantitative and qualitative analysis methods to identify market gaps in local industry ecosystems and design appropriate programs to address them</li><li>Work with project teams to develop the vision for the underlying business model and financial structure of new initiatives/programs, and incorporate these ideas into RFPs</li><li>Support teams in creating programs budgets and defending funding recommendations to EDC leadership and the City's Office of Management and Budget</li><li>Work across departments as part of a team to test ideas, build buy-in, and support collective skill-building</li></ul><li><strong>Support ongoing monitoring and evaluation efforts of EDC's partners</strong></li><ul><li>Assist in the annual reviews of contracted operators to determine if they are performing well financially, and achieving intended policy outcomes</li><li>Develop recommendations on how EDC and its partners can continue to improve the performance of existing investments</li><li>Plan for and support project completion through successful closure, transfer, or repositioning</li></ul></ul><br><strong>About you:</strong><br><ul><li>Curious, highly analytical, and collaborative</li><li>Strong understanding of financial statement analysis, public-private partnership deal structures, and deal term structuring to incentivize outcomes and manage risk</li><li>Enjoy building and reviewing financial statements and detailed Excel models</li><li>Ability to communicate investment recommendations in a clear manner to both expert and non-expert audiences</li><li>Comfortable interfacing with senior officials, external partners, and business leaders</li><li>Passionate about public policy, economic development, cities, and New York City</li></ul><br><strong>Qualifications:</strong><br><ul><li>Undergraduate degree required, MBA or other relevant advanced degree a plus</li><li>Minimum 5-7 years of work experience, preferably in a role that required building out rigorous investment recommendations (e.g. Private Equity, Credit/Equity Research Analyst, Asset Management)</li><li>Preference for candidates with demonstrated interest or experience in investing, economic development, New York City, and/or public policy issues</li><li>New York City residence is required within 180 days of hire</li></ul><br><strong>About NYCEDC:</strong><br><br>New York City Economic Development Corporation is the City's primary vehicle for promoting economic growth in each of the five boroughs. NYCEDC's mission is to stimulate job growth through expansion and redevelopment programs that encourage investment, generate prosperity and strengthen the City's competitive position. NYCEDC serves as an advocate to the business community by building relationships with companies that allow them to take advantage of New York City's many opportunities. Additional information on NYCEDC can be found by visiting <a href="http://www.nycedc.com/"><strong>http://www.nycedc.com/</strong></a>.<br><br>Our <strong>Diversity & Inclusion</strong> Mission is to attract, retain, and engage a diverse workforce comprised of talented people. Like the city of New York, NYCEDC knows our strength comes from each of our connected parts, making the fabric of our organization better and stronger because of our unique employees' talents. NYCEDC employees can expect to work as part of a highly engaged, passionate and inclusive workforce where everyone's contributions are valued, respected, and make an impact on one of the best and most diverse cities in the world!<br><br><strong>The New York City Economic Development Corporation is an Equal Opportunity Employer. </strong>NYCEDC offers excellent benefits, including company-paid 401 (a) pension plan, 457(b) tax-advantaged retirement savings plans, medical, dental and vision benefits <img src="https://analytics.click2apply.net/v/p7JGLdfZzZzEF2o5fdBwl">
Posted: 2019-03-14 Expires: 2019-05-15

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Assistant Vice President, Investments - Initiatives

NYCEDC
New York, NY 10001

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