Lead, Private Market Impact Investing

ImpactAlpha; Chicago (IL); Hybrid; USD 90,000 - 135,000; Full time

Benefits offered by this job

Pension program

Health, life, dental and vision

Paid leave and holidays

Commuter benefits

Job summary

The Office of the Illinois State Treasurer is seeking a Manager of Private Market Impact Investments to support due diligence, oversight, and strategic initiatives across its private markets portfolios, including ILGIF, FIRST Fund, and CDFI investments.

The role focuses on monitoring performance, coordinating with external managers, and communicating findings to senior management while ensuring compliance with investment policies and statutory requirements.

Qualifications

• Bachelor’s degree in accounting, finance, economics, or a related field (preferred).
• Master’s degree in business, finance, economics, or related field (preferred).
• Two to five years of experience in financial analysis, investments, portfolio management, or related field.

Responsibilities

• Support day-to-day management of the Student Empowerment Fund, ILGIF and FIRST Fund, CDFI Investment Program, and other impact-oriented programs.
• Source, evaluate, and recommend new impact-oriented investment opportunities including funds and direct investments.
• Monitor investment performance and manage external investment managers and projects for impact allocations.
• Maintain market intelligence on impact investing trends and reporting frameworks.

Skills

Financial analysis

Investments

Portfolio management

Communication skills

Education

Bachelor’s degree in accounting/finance/economics

Master’s degree in business/finance/economics

Tools

Microsoft Excel

Microsoft Word

PowerPoint

Job description

About Office of the Illinois State Treasurer

The Office of the Illinois State Treasurer is a constitutional office within the State of Illinois government responsible for managing state finances and serving as the custodian of public funds. The Treasurer’s Office operates under the leadership of the Illinois State Treasurer and serves as a critical financial institution for the state, managing billions of dollars in assets and providing essential financial services to Illinois residents and businesses. The Treasurer’s Office administers various investment programs and initiatives designed to support economic development, financial inclusion, and social impact across Illinois. The office manages multiple investment portfolios and programs, including the Illinois Growth and Innovation Fund, which supports early-stage companies and entrepreneurship within the state. The organization is committed to utilizing state resources to advance public policy objectives while maintaining fiduciary responsibility and sound financial management practices. Beyond investment management, the Treasurer’s Office provides services related to unclaimed property administration, college savings programs, and other financial services designed to benefit Illinois families and businesses. The office operates with a commitment to equal employment opportunity and considers applicants for all positions without regard to protected characteristics. The organization emphasizes rewarding careers that contribute to helping families and businesses succeed through sound financial stewardship and innovative investment strategies.

About this Role

The Manager of Private Market Impact Investments serves as a key member of the Treasurer’s Office investment team, with responsibility for assisting on numerous investment objectives, fiduciary duties, and strategic initiatives for the Private Markets Impact Investment portfolio. This position focuses on supporting due diligence and oversight activities for impact-focused investment strategies across the external investment portfolios managed by the office. The position involves managing several significant investment programs including the Illinois Growth and Innovation Fund, FIRST Fund, the Student Empowerment Fund, and the long-term Community Development Financial Institution Investment program, collectively known as the Private Market Investment Portfolios. The Manager will utilize best practices to continually support effective oversight of various investment portfolios, measure investment performance, and source new impact-focused opportunities. Daily work involves monitoring portfolio performance, managing external investment relationships, and ensuring compliance with investment policies and statutory requirements. The Manager interacts extensively with multiple divisions within the Treasurer’s Office to achieve underlying policy objectives. The role requires strong communication skills, as the Manager will coordinate with investment managers, present findings to senior management, and draft educational content for external stakeholders. Attendance and punctuality are essential requirements for this position.

Responsibilities

• Support day-to-day management of the Student Empowerment Fund, impact sleeves within ILGIF and FIRST Fund, CDFI Investment Program, and other impact-oriented programs where applicable
• Source, evaluate, and recommend new impact-oriented investment opportunities including funds and direct investments
• Assist in monitoring investment performance results and manage selection, retention, performance monitoring, and termination of external investment managers and companies/projects for impact-focused allocations
• Maintain robust market intelligence on impact investing trends, products, and managers relevant to program mandates
• Maintain investment and impact performance reporting frameworks
• Assist with coordination efforts for current investment manager tracking and impact-related reporting requirements as part of the monitoring process while effectively communicating with investment managers and companies
• Maintain comprehensive understanding of the Treasurer’s Office investment policies, relevant statutory requirements, and other pertinent operating guidelines to ensure effective analysis, reporting, and compliance
• Coordinate timely review of quarterly, annual, and special reports issued by program and investment managers to confirm completeness and accuracy of content
• Ensure senior management are well-positioned to assess the effectiveness of the program and investment manager performance
• Draft educational and promotional content to support publications for external parties and implement outreach strategies including presentations and meetings
• Actively collaborate with Directors and Managers in the Office of the Illinois State Treasurer with responsibilities relating to externally managed investment programs
• Perform other duties as assigned or required that are reasonably related to the duties enumerated above

Requirements

• Bachelor’s degree in accounting, finance, economics, or a related field (preferred)
• Master’s degree in business, finance, economics, or related field (preferred)
• Two to five years of experience in areas of financial analysis, investments, portfolio management, or a related field
• In-depth understanding of the financial services industry and impact investing with prior portfolio analysis experience
• Quantitative and qualitative analysis skills
• Ability to multi-task and prioritize effectively
• Strong written and oral communication skills
• Strong presentation skills with ability to influence and educate key stakeholders
• Strong relationship building skills
• Strong interpersonal skills with ability to work in a team environment
• Detail-oriented
• Ability to maintain satisfactory working relationships and communicate effectively with all levels of staff and the general public
• Proficiency in Microsoft Excel, Word, PowerPoint, and other standard computer programs
• Legal authorization to work in the United States

Benefits

• Pension Program
• Competitive Group Insurance Benefits including Health, Life, Dental and Vision Insurance
• Up to 4 Paid Personal Business Days annually
• 12 Paid Sick Days annually with carryover from year to year
• 15-25 Days of Paid Vacation time annually (15 days in year one of employment)
• 13 Paid Holidays annually, 14 on even numbered years, and 1 Floating Holiday
• 12 Weeks Paid Parental Leave
• Deferred Compensation Program (supplemental retirement plan)
• Optional Pre-Tax Programs such as Medical Care Assistance Plan (MCAP) and Dependent Care Assistance Plan (DCAP)
• Federal Public Service Loan Forgiveness Program eligibility
• Commuter Savings Program (Chicago only)

ImpactAlpha’s hard-working, AI-powered jobs bot generated this snappy summary from its original post. Click “Apply Now” to view the full description and apply.