What does your day to day look like?
This varies! My work can be broadly divided into ‘transaction’, ‘non-transaction’, and ‘learning and development’. ‘Transaction-related’ involves supporting the progression of deals from the proposal stage to investment approval. Core tasks include; reviewing investee documents, testing assumptions and forecasts against market norms and the macro environment, assessing investees against BII’s principles, and preparing papers for the investment committee. Attending meetings with other teams across BII, external partners, and investees, are also important parts of my day-to-day. ‘Non-transaction-related’ has been a great way to learn more about how BII operates, whilst developing my understanding of important topics and trends. I have helped to create practical resources for BII’s Environmental, Social, and Governance (ESG) toolkit, coordinated an internal working group on impact data management, and am a member of the BII Employee Forum where we discuss internal and external topics with a BII Board member (think school council but for work). There is also a big focus on learning and development in my day to day, which ranges from formal training sessions, to learning on the job. If it’s a Thursday, my day usually ends with a 6-a-side game with BII’s finest!
How are you and BII making an impact?
BII invests between £1.5 and £2 billion each year into emerging markets, with each £ purposely aiming to create productive, sustainable and/or inclusive development impact. There is also a strong focus on enhancing this impact by mobilising capital from other investors. In addition, the terms by which BII provides this financing is often concessional, and always patient. This fosters a supportive partnership that gives investees the best chance of succeeding. Finally, central to BII’s offering is its non-financial support. This is available to the whole market in the form of BII’s toolkit and thought leadership pieces, to all investees who are provided tailored action plans for how they can improve their processes and practices, and finally to some investees in the form of technical assistance to help them achieve transformational change.
I create impact by supporting the delivery of all the above! I have also been encouraged to bring forward new ideas by drawing upon previous experience and study. The most exciting example of this is the strategy work I am helping deliver around nature. This has involved engaging with teams across the business around how we think about nature in our investing process, and the opportunities available for us to invest in nature-based solutions and natural capital.
What has surprised you most about your role at BII?
I have been surprised by how generous colleagues are with their time. When I have reached out to have a catch-up, people are always keen to explain something or answer questions. This is combined with the extent of the opportunities made available to learn and take responsibility; from taking an active role in client calls, to leading meetings, and presenting to senior leadership.
What advice would you give to a student who is looking for a role in impact investing?
Interest and passion are key. Given development is such a broad base, this interest can come in many forms, the ability to articulate and explain why you are passionate and how your previous experience has shaped this is important. If unsure of your interest, have a look at the UN SDG’s, which might help to frame and anchor your area of passion. I would also say that having experience in emerging markets is not necessary, what is needed is excitement to learn and work in these geographies.
How can a student prepare themselves for working in a development finance institution like BII?
In addition to framing your area of passion, it is important to gain an understanding of the specific role played by DFI’s and the DFI in question. Reading BII’s 5-year strategy will be very useful to understand our role, how we think about impact, and how we approach investing responsibly. I would also note that you don’t need a degree in financial maths (I did Geography at undergrad), what I would recommend is gaining basic Excel skills (I did some free Excel training during my job application processes), and getting familiar with some key finance/business terms (Revenue, Cost, Profit, FX, Equity VS Debt), to help with the application process!