Investment Officer, Strategic Market Tools Initiative

The Foundation

We are the largest nonprofit fighting poverty, disease, and inequity around the world. Founded on a simple premise: people everywhere, regardless of identity or circumstances, should have the chance to live healthy, productive lives. We believe our employees should reflect the rich diversity of the global populations we aim to serve. We provide an exceptional benefits package to employees and their families which include comprehensive medical, dental, and vision coverage with no premiums, generous paid time off, paid family leave, foundation-paid retirement contribution, regional holidays, and opportunities to engage in several employee communities. As a workplace, we’re committed to creating an environment for you to thrive both personally and professionally.

The Team

In 2009, the Bill & Melinda Gates Foundation established a Strategic Investment Fund (SIF) with the mandate to use equity, debt and guarantee investment tools to further the philanthropic goals of the organization. Currently investing $2.5B, the fund has become a leader in the “impact investing” industry successfully completing more than 100 investments across a variety of sectors and asset classes. The 14-person investment team is seeking an Investment Officer dedicated to the Strategic Market Tools initiative. The Strategic Market Tools initiative partners with program strategy teams, to structure, negotiate and execute complex transactions with private sector entities, multilaterals and governments. The Officer will focus on the volume guarantee portfolio of investments and will also provide advisory support across the foundation’s program strategies on various structured finance products and/or complex, multi-stakeholder investments.

Volume Guarantee Investments
Uncertain demand, inefficient procurement practices and the associated higher prices for global health commodities often limit access to life-saving products. Volume guarantees address access barriers by providing manufacturers with multi-year contractual volume commitments in exchange for reduced prices that help increase the supply of high-quality commodities. These firm contracts improve scale production economies and reduce procurement inefficiencies, resulting in sustainably lower prices. SIF began piloting volume guarantees in 2010 and created a formal initiative in 2013. Since then, ~20 transactions totaling over $1.5B of guarantee commitments have been completed, accelerating adoption of vaccines, family planning commodities, HIV drugs and malaria bednets while generating $1B+ in procurement savings.

The volume guarantee initiative covers a number of the foundation’s strategic priority areas and are made in support of the charitable impact goals of these program strategy teams. Representative past investments from the volume guarantee portfolio include:
• $230 million volume guarantee and prepayment loan to Biological E to
support additional low-cost supply of pentavalent vaccine;

• $120 million volume guarantee to Bayer AG and Merck & Co. Inc. which ensured a market for the companies’ contraceptive implants in exchange for a commitment by the manufacturers to increase their production and lower their prices in the low and middle-income countries (LMICs);

• +$300 million combined volume guarantees to Mylan Laboratories and Aurobindo Pharma to support the introduction and supply of new HIV drugs at affordable prices in LMICs.

• $100 million guarantee to UNICEF Vaccine Independence Initiative (VII), to accelerate LMIC access to critical global health commodities while domestic financing is mobilized.

As an Investment Officer you will report to the Director of the Strategic Market Tools initiative. In this position, you will negotiate lower prices on critical public health commodities for the poorest countries, support the introduction of new products and use innovative financing tools to shape creative solutions to reach lower prices, enable greater commodity supply and facilitate the introduction and adoption of new valuable health products in the foundation’s priority geographies. You will work in close collaboration with program colleagues across the foundation’s program strategy teams to identify, structure and execute investments that advance the foundation charitable goals. This role will sit at the intersection of the private and public sector, and will require engagement with senior leadership of companies, donors, UN agencies and key implementing partners to shape and manage these public-private partnerships.

Success in this role requires a deep understanding of market dynamics, key business drivers & commercial incentives, along with the ability to manage and interpret complex financial documentation. Accordingly, the ideal candidate will combine expert analytic capacity and problem-solving skill, with an execution mindset and the ability to build trusted relationships across a diverse set of stakeholders.

What You’ll Do

Working with colleagues from the foundation's strategy program teams, the Investment Officer will:

• Lead and support deal teams consisting of program, legal and other SIF colleagues through all stages of the investment process including initial screening, due diligence and financial analysis, investment structuring and negotiations, and portfolio management.
• Prepare and present investment recommendations to the foundation's Investment Committee executive leadership when appropriate.
• Alongside foundation program colleagues, actively manage the portfolio of investments to maximize achievement of the foundation’s charitable goals while mitigating risk and exposure to the foundation’s balance sheet.
• Build and maintain excellent relationships with key external partners engaged in supporting healthy commodity markets, including companies, donors, UN agencies, other guarantee partners and key implementing partners.
• Ensure high-quality interactions and provide clear and consistent communications with internal and external stakeholders.

Your Experience

We anticipate that the successful candidate will have a demonstrated interest in direct investing along with a belief in the foundation's mission to drive innovative social impact. The ideal candidate will bring strong transactional experience, strategic problem-solving skills and a collaborative mindset.

• Minimum five years of relevant work experience in private investments or strategic partnership roles such as private equity, venture capital, corporate development and business development. Experience in public sector banking and finance and public sector management consulting will also be considered.
• Strong analytical and financial modeling capabilities with the ability to assess risk and return across a variety of investment structures.
• Excellent written and verbal communication skills, with experience communicating to internal leadership and external partners on complex strategic and financial topics.
• Success supporting high-performing, cross-functional teams as they assess emerging strategic and/or financial issues in a complex and evolving environments. Expertise structuring and managing multi-stakeholder financial transactions preferred.
• Able to work with flexibility, efficiency, enthusiasm, and diplomacy both individually and as part of a team effort. Demonstrated ability to lead and build relationships to gain the respect and trust of others.
• Interest in global health, development, policy and advocacy, ideally with previous experience and exposure to the subject areas of focus of the Global Health or Global Development Programs.
• Demonstrated passion for the Foundation's values with commitment to deliver results against the Foundation's mission.
• The highest personal and professional integrity.

Must be able to legally work in the country where this position is located without visa sponsorship.

The salary range for this role is $208-600 - $323,400 USD. We recognize high-wage market differences in Seattle and Washington D.C., where our offices are located. The range for this role in these locations is $227,400 to $352,400 USD. As a mission-driven organization, we strive to balance competitive pay with our mission. New hires salaries are typically between the range minimum and the salary range midpoint. Actual placement in the range will depend on a candidate’s job-related skills, experience, and expertise, as evaluated during the interview process.

Hiring Requirements

As part of our standard hiring process for new employees, employment will be contingent upon successful completion of a background check.

Candidate Accommodations

If you require assistance due to a disability in the application or recruitment process, please submit a request here.

Inclusion Statement

We are dedicated to the belief that all lives have equal value. We strive for a global and cultural workplace that supports ever greater diversity, equity, and inclusion — of voices, ideas, and approaches — and we support this diversity through all our employment practices.

All applicants and employees who are drawn to serve our mission will enjoy equality of opportunity and fair treatment without regard to race, color, age, religion, pregnancy, sex, sexual orientation, disability, gender identity, gender expression, national origin, genetic information, veteran status, marital status, and prior protected activity.