***FINALIST APPLICATION REQUIREMENTS: All applicants are required to submit a resume (one page), statement of interest (one page), and two references by the application deadline on Sunday, February 7 at 11:59pm ET. If selected as a finalist, applicants to this host organization may be required to submit the following additional materials directly to the host organization after the application deadline:
LOCATION: Boston, MA
INDUSTRY: Economics / Business
ABOUT US: Social Finance is a 501(c)(3) nonprofit organization dedicated to mobilizing capital to drive social progress. We bring uncommon partners together around a common purpose: to measurably improve the lives of those in need. Through Pay for Success (PFS), a set of innovative, outcomes-based financing strategies that directly and measurably improve the lives of people in need by driving resources toward results, we work to disrupt the status quo, shifting mindsets to align resources with impact. Throughout our work we strive to uphold our commitment to our values – people, performance, integrity, and collaboration – and to principles of diversity, equity and inclusion (DEI).
Over the past decade, Social Finance has pioneered the field of PFS through implementation of strategies including the Social Impact Bond (SIB) and the Career Impact Bond (CIB). PFS centers on five core principles: clearly defined outcomes; data-driven decision making; cross-sector partnership; strong governance and accountability; and catalytic capital for impact. The PFS movement began more than a decade ago, when our sister organization, Social Finance U.K., developed the world’s first SIB. Since then, PFS practitioners across the globe have launched more than 180 SIBs in 32 countries. These projects are mobilizing over half a billion dollars to address entrenched social issues that are difficult, if not impossible, to address via traditional social program funding approaches.
In recent years, the PFS movement has evolved beyond the SIB to incorporate new outcomes-based strategies, including the Career Impact Bond (CIB), the Environmental Impact Bond (EIB), the Development Impact Bond (DIB), and the Outcomes Rate Card (ORC).
Social Finance partners with governments, nonprofits, foundations, impact investors, and financial institutions to improve social outcomes by driving resources toward results across three areas of work:
- Social Investment: We work with cross-sector partners to design, launch, and manage Social Impact Bonds and Career Impact Bonds
- Advisory Services: We partner with governments, philanthropy, and nonprofits to implement outcomes-oriented approaches.
- Field Building: We help advance Pay for Success through market education, publications, events, and research.
RESPONSIBILITIES & PROJECTS: The Director’s Intern will:
- Serve as an integral member of the communications team, which may include managing the firm’s social media platforms, developing marketing materials, monitoring press and public discussion of Social Finance, and contributing to internal knowledge building
- Research social issue areas, intervention-based programs and nonprofit service providers to support advisory projects and social investments
- Support market education and partnership development efforts, which may include creating original content and coordinating events
- Perform additional tasks as assigned
The internship will be an opportunity for students to develop professional skills while learning about impact investing, evidence-based programs, and communications strategy. In addition to working side by side with the entire Social Finance team, the Intern will have the opportunity to attend educational meetings with potential partners and firm stakeholders.
- Social Media Management & Marketing
- Strong writing skills preferred.
REMOTE WORK ENVIRONMENT: All Social Finance employees will be working remotely through June 2021, at minimum. The Director's Intern will be part of a cohort of interns, including both graduate and undergraduate interns. All interns will be fully-integrated members of the Social Finance team and will have abundant opportunities to connect with team members across all 3 of our offices, including by being assigned an onboarding buddy and Development Manager with whom they will have regular touchpoints, as well as through weekly team meetings, small group chats, and social events.
TIME ZONE: ET
WORKING HOURS: There is flexibility regarding which hours the intern works.
EQUIPMENT & SOFTWARE: Access to high-speed Wi-Fi, Laptop on loan from host organization
2020 Intern Reflection:
My summer with Social Finance exceeded my expectations. Even in a virtual context, the team went above and beyond to ensure that I felt supported both in my work and socially by checking in with me weekly and inviting me to team wide social events like trivia. I worked closely with the Staff and Strategy team and developed my project management and research skills. More specifically, I drove the remodeling of Social Finance’s funder white paper by creating outlines, making recommendations, and writing case studies. In addition, I conducted research across a variety of other projects that helped shed light on the Pay for Success landscape and future funders. Through this work, I became intimately familiar with impact investing
The Social Finance culture was also incredibly inclusive. I was always encouraged to give my opinions and thoughts no matter what I was working on, and my ideas were valued. They emphasized that I was an equal member of the team which really elevated my experience. I highly recommend this opportunity to anyone that is passionate about creating scaled social impact using innovative investment strategies or even just curious about what the intersection of work in the public and private sector looks like. You’ll have the opportunity to learn about the breadth of ways you can create social change with projects that are mission driven and with a team that is truly passionate about their work.
-Mariletzy Venegas '22
2019 Intern Reflection:
My time at Social Finance has been one of the most valuable internship experiences I've ever had. This welcoming team is filled with the smartest, most-driven, enthusiastic people from whom you will learn so much just by grabbing a casual cup of coffee. In particular, I've been able to work closely with the Communications Team and develop my writing and social media skills. I currently run their social media accounts and keep the whole team and Board informed through daily news articles on the impact investing field. Beyond Communications, I've also been able to explore advisory projects. The small-team model gives the other interns and myself great opportunities to really get involved, take on responsibility in talking with partners, and craft materials and resources for the project teams.
Social Finance is unique in that it is at the frontier of the Pay for Success field and impact investment. It is an organization positioned at the intersection of the public, private, and nonprofit work and covers a range of constantly overlapping issue areas. By nature, I love dipping my toes into multiple subjects and issue areas, but there is truly something for everyone here as long as you have an interest in social sciences. As an economics concentrator constantly searching for ways to implement the rigor of evidence-based studies to actionable solutions- this was the perfect fit for my interests. Anyone with an interest in impact investing, evidence-based policy, and/or problem solving social issues- you will learn so much from this internship.
-Jessica Williams '20
2018 Intern Reflection:
My summer internship at Social Finance has been an incredible experience so far. I have been able to work on quite a few different projects in different areas of the firm, so really have had a well-rounded experience. Each morning, I collect news articles related to Social Impact Bonds, Pay-For-Success, or other social initiatives that are related to different Social Finance projects and email them out to my coworkers. I also assist with the communications team, and have had the opportunity to work with them on an upcoming project that will help Veteran's struggling with PTSD find employment, which is very important to me as a Veteran.
Everyone I work with is incredibly helpful, and they all truly care about the work that they do. Before I started the internship, I let my director know that if possible, I would like to learn about the impact investing side of the business. To help me gain some experience in this, my director put me on some projects with the Capital Formation team. With them I have been researching asset manager, foundations, and family offices to help Social Finance look towards financing for future projects. For anybody interested in the Impact Investing space or learning about private-public partnerships, I highly recommend applying to the Social Finance internship.
-Thomas Bassett '21
2017 Intern Reflection:
Through my internship at Social Finance, I have gained in-depth knowledge of the world of impact investing, data and outcome driven programming, public-private partnerships, and specifically, the role of Pay for Success in mobilizing capital to drive social change. This summer, Social Finance launched the first Pay for Success project focused on workforce development in the United States. As part of the communications team, I helped craft the messaging strategy, plan the launch event and draft media content. Additional work for the communications team included managing social media accounts, updating the website, drafting comments for the CEO, creating marketing collateral and planning the content and strategy for the team off-site retreat. I also was responsible for sending daily news clips to the team about developments in the field. Beyond my work with the communications team, I performed research on market opportunities for the firm that informed their future strategy. I synthesized the research and presented it to senior team members and the CEO. I also supported the client relation management team by synthesizing and organizing data related to the various Social Finance projects and other projects in the broader Pay for Success field.
Social Finance’s inclusive culture made it easy for me to feel comfortable voicing my opinion and getting involved in interesting projects. I was encouraged to sit in on meetings and phone calls and team members were always available for questions when I had them. I felt that my point of view was genuinely valued and there was a real effort on the part of the entire firm to make me feel welcome and included. Each member of the team was so knowledgeable and passionate about both the daily work they were doing and the people whose lives they were impacting. With a broad range of backgrounds from finance and consulting, to public policy, to social service and development, the people at Social Finance brought an additional layer of depth to an already innovative and interesting field of work. Social Finance is at a unique intersection of government, private investors and nonprofits and provides an incredible summer experience for anyone interested in using business and finance mechanisms to create positive social impacts.
-Rosie Wigglesworth '19