Introduction to Eastern Bank Foundation

Eastern Bank, and its Foundation (EBF), are annually in the Top 10 Most Charitable companies in MA according to the Boston Business Journal, with $250MM+ in assets and annual donations of more than $13MM. EBF is funded by Eastern Bank and serves as its charitable arm, as a result, there is no fund-raising involved in this role. 

We believe that changes to centuries-old social and economic hierarchies and systems of oppression can lead to greater equity in our communities when we invest, first by listening to the lived experiences of our neighbors and then by partnering on solutions. It’s this commitment to honoring and trusting our communities that guides the Eastern Bank Foundation – not only in what and why we fund, but also how.  Our vision is a region—and a world—where these hierarchies are dismantled and systems of oppression based on race, ethnicity, gender, gender identity, economic background, ZIP code or other differences, and resulting disparities, are eliminated.

HOW EBF ACHIEVES IMPACT

Annually, EBF supports more than 1,200 local nonprofit organizations, across a wide variety of community needs.  There are two foci to our philanthropy: our Community Donations and our Impact Grants.  Impact Grants are our larger dollar grants (typically $50-150k) and, in total, represent more than half of the Foundation’s investments each year.  Impact Grant investments are made in community partners with whom we are working to advance Economic Inclusion and Mobility (EIM) across the region to close income and wealth gaps and, ultimately, promote equitable prosperity.  Our EIM mission focuses on investing in efforts to:

Advance Equity in the Small Business Ecosystem; Enrich Early Childhood Development; Meet the Demand for Safe and Affordable Housing; and Promote Workforce Development for “Untapped Talent” for Adults aged 26+.

Eastern Bank Foundation combines philanthropic investment with volunteerism, advocacy, and collaboration to maximize its impact.  We partner with community leaders to combine resources, broaden the base of champions for economic inclusion and related causes, and drive solutions.  We listen to our geographic and demographic communities, use our voice to advocate for bold systemic change that advances equity and rally community partners and corporations to broaden support for change.

Position Summary:

The Eastern Bank Foundation seeks to fill the position of Chief Impact Officer to manage and ensure the success of its Impact Grant portfolio and associated activities.  The Chief Impact Officer will perform three primary functions: 1) support the implementation of the Foundation’s EIM strategies; (2) ensure timely and efficient communications and processes within the Foundation teams (Ops and Fellows) and with colleagues across the Bank (particularly with Wealth Management, Finance, Human Resources, and Community Development Lending)  and 3) help to build and evolve the measurement, evaluation and learning systems that support strategic implementation and maximize the potential for impact.

The Chief Impact Officer will uphold the responsive, high-touch, trust-based efforts the Foundation is recognized for throughout Greater Boston and the communities we serve across New England.  The position will report to, and be a full thought-partner with, the President and CEO of the Foundation in service to our communities.

Familiarity with the local socio-economic context of the communities we serve is required, including appreciation for historical context and consideration for all dimensions of intersectional equity.

Essential Functions:

Collaborate with the President & CEO and Foundation Fellows to further refine EBF’s Economic Mobility and Inclusion strategies incorporating community feedback, research, and key learnings from our grantees; ensuring the continuity of the Foundation's equitable investments in local leaders, organizations, and movements. Assume a lead role on key tasks including EBF Board meeting preparation and monthly or quarterly reporting (such as Community Reinvestment Act (CRA) compliance reporting, monthly strategic initiatives updates for the Board and the Management Committee of the Bank, Town Hall meeting slides on EBF activities and regulatory lobbying reports).  Work closely with President & CEO of EBF and EBF Operations Director on annual budgeting, tax reporting, monitoring the expenditures of Foundation resources each quarter and reimbursement to the Bank through the ASA, follow up on Employee Engagement surveys results and plans as well as other Bank related reporting, and ensuring that the Foundation remains in compliance with Eastern Bank policies and industry regulations. In as much as the CIO may also be a content expert in one or more of EBF’s strategic impact areas, collaborate with appropriate Foundation Fellows to execute grantmaking and develop strategic partnerships with select community partners to pursue the Foundation’s and partners’ goals.  Further, the CIO will work to identify, develop, influence and execute opportunities at the intersections of the foundation’s EIM strategies to maximize impact. Lead the future phases of design and development of EBF’s Measurement, Evaluation and Learning (MEL) systems to meet the goals of capturing more useful data, producing deeper analytic insights and improving data reporting.  Working with Volunteer Engagement Director and other team members, as appropriate, strengthen alignment between EBF’s impact investments, CRA requirements, and volunteer opportunities. Lead special projects on an ad hoc basis such as commissioned research, special convenings, targeted communications initiatives and event support/management. Participate in the EBF quarterly Board meetings, providing reports to the Board and leading discussion on updates with the Board and senior leaders at Eastern Bank.  Ensure a positive and collaborative work environment for all team members within the Foundation and with our grantees, fostering a collective sense of belonging and commitment to teamwork and continuous improvement.  Continually review and learn from external research & study, data, evaluation metrics and administrative tools to ensure we are addressing the most compelling needs for our communities in the Impact Grant areas. Represent EBF at convenings, presenting at forums, participating on panels, networking, leveraging relationships, and building the Foundation’s reputation within the communities we serve.

Note that both the balance and nature of the CIO’s responsibilities will change over time allowing the Foundation to remain more nimble, responsive to our communities and effective.

Required Qualifications:

A BS/BA degree from an accredited college/university is required.  An advanced degree(s) in a related field such as nonprofit management, urban planning, public administration, policy, business, economics, etc., is welcome. A minimum of 15 years of experience in philanthropy, non-profit, or government sector (and, most successfully, a combination) must have significant experience in evaluating grant requests, making grants, measuring and evaluating grant programs.  Experience in policy making, movement building, or community organizing is desired.  Strong project management and administrative skill, able to scope tasks in detail and effectively manage to deadlines while maintaining process rigor and work quality. Demonstrated track record of strong, grounded practical approach to problem solving and strategy.  Demonstrated leadership as an innovative change-maker, with strong cultural-competence, authentic commitment, strong verbal and written communications skills and dedicated energy for social justice. Ability to move fluidly between strategic discussion to tactical implementation.  Demonstrates a willingness to do whatever is needed to achieve desired result. Demonstrated in flexibility in project organizing and implementation. Demonstrated strong teamwork and ability to develop and nurture professional relationships, especially in remote work environment.  Demonstrated commitment to DEI internally: championing a true sense of belonging within the team, the Bank, and with community leaders; and elimination of “othering.” Possesses an informed perspective on racial, gender, and LGBTQ equity and to the critical drivers of Economic Inclusion and Mobility vital to the Foundations long-term goals.  Demonstrated commitment to advancing equity, affecting systemic and sustained change, while joining with community partners supporting this work. Strong communication skills including listening, giving, and receiving feedback, persuasive communications, public speaking skills; authenticity and effectiveness with both in-person and digital settings appearances, compelling writing and presentations to diverse audiences. Effective analytical and problem-solving skills with a proven ability to independently manage and resolve complex issues.  Understanding of strategic planning, and community development is necessary.  Extensive track record of volunteerism across various communities.  At least five years of demonstrated community service, particularly in a Board service role and/or working with institutional funders. Demonstrated team values, and commitment to the success of a team. Familiarity with the nonprofit sector, including budgeting, financial management, strategic consulting, fundraising operations, organizational development, or other related areas.

Work Environment:

This job operates in a hybrid model.  This role routinely uses a company provided computer and standard office equipment. The role routinely requires strong skills in MS Outlook, Word, Excel & PowerPoint. 

Physical Demands:

While performing the duties of this job, the employee is regularly required to talk and hear.  The employee frequently is required to stand; walk; drive to various locations in their own registered vehicle; ride in an elevator; and reach and carry with hands and arms. 

Specific vision abilities required by this job include close vision, distance vision, color vision, peripheral vision, depth perception and ability to adjust focus. 

Position Type/Expected Hours of Work:

This position is exempt from the FLSA.  Normal work hours are 8:30 am to 5:00 pm, however, this role regularly requires long hours and some weekend work.  Remote work is permitted with approval once fully up to speed on the role.

Travel:

Travel is generally local to the Bank’s footprint which, at present, is MA, NH, and RI. Candidates must have their own transportation to be able to drive between sites.

Other Duties:

Please note this job description is not designed to cover or contain a comprehensive listing of all activities, duties or responsibilities that are required of the incumbent for this position.  Duties, responsibilities, and activities may change at any time with or without notice.