Job description

Our ideal candidate: We are seeking candidates deeply committed to our mission: to transform the banking industry from within. We lead by example, collaborate with and invest in change-makers, and build sustainable prosperity in our communities.

Who we are: Beneficial State is one of only a handful of B-Corp banks in the nation and one of the highest-rated B-Corps on the planet. That means that we subscribe to a rigorous evaluation standard that measures our positive impact, not just our profitability. We demonstrate how a bank can combine social equity, environmental sustainability, and business stability to create a better financial system – a system that drives inclusive prosperity to benefit people and the planet. #BCorp #WeAreBCorps

Join our team: If you are ready to do challenging and transformative work that will build a brighter future for us all, and you are hungry to bring your passion and energy to the table, we welcome your application.

ABOUT BENEFICIAL STATE BANK

Beneficial State was founded on a hunch that something is terribly wrong in the financial services industry and the outcomes it produces. We were created to prove that banking could be materially better. More sustainable. More inclusive. More transformational. More accountable. While some banks have philanthropic arms, we have a philanthropic heart. Our mission: to help more people and help people more, in harmony with nature. We do not lend ANY money to special interests that are “contra mission,” such as fossil fuels, private prisons, weapons manufacturing, or predatory/discriminatory practices.

Beneficial State Bank (Beneficial State) is a state-chartered, federally insured bank with Branches and virtual banking in California, Oregon, and Washington. As of the end of 2021, we had over $762MM in mission aligned lending, representing over 75% of our lending portfolio. Since opening our doors in 2007, we have financed over 10,000 affordable housing units, helping to address the housing crisis that plagues our Pacific Coast cities; over $270MM in loans to nonprofits which support so many of our communities; $165MM in fair auto loans and refinances (including electric vehicles); and $144 MM in renewable energy loans to reverse climate change. We are now over $1.5B in assets with capital to grow threefold within the next five years.

The bank’s unique ownership structure supports our impact commitments. We are owned by not-for-profit entities that are governed in the public interest. We graded our portfolio using the Global Alliance for Banking on Values methodology and 84% of our loan portfolio was considered “triple bottom line” – serving people, planet, and prosperity. We once again received a CRA rating of “Outstanding,” demonstrating our commitment to meeting the needs of our communities. In 2021 BSB also completed its second JUST disclosure to assess and report on our commitment to being a socially just and equitable organization. As a CDFI, we have committed to investing in low-income communities and as a B-Corp, are committed to social equity, environmental sustainability, and economic prosperity for our communities. We are a founding signatory of the UN’s Principles for Responsible Banking, a member of the Global Alliance for Banking on Values, and one of the world’s top-rated Certified B Corporations, awarded B Corp “Best for the World” status every year since 2012. We recommend that any business seeking to become more purpose-driven and be a force for good take advantage of B Lab’s resources and third-party assessment framework and support our clients in their endeavors to build their impact and achieve their B Corp certification. Together, we are part of the solution. Learn more about our impact on our Foundation’s impact site.

POSITION OVERVIEW
Beneficial State Bank is embarking on a transformational journey. This exciting period of growth brings with it a need for strategic vision and operational acumen. The Chief Impact Officer (CIO) role was developed to help us not only effectively scale and innovate our programs, but to help us authentically deliver on the promise of Beneficial Banking and tell the story of the meaningful work we are doing every day - with integrity. The remarkable incumbent will have the opportunity to help set the standard for what beneficial banking could be, for the bank, and for the industry.

The CIO is a member of the Bank’s senior leadership team and will report directly to the bank’s CEO. This role supports the mission of Beneficial State Bank through the development, evaluation, monitoring, and reporting of the Bank’s social impact and environmental outcomes. The role will work with management and the Board to assess and comply with third-party standards (such as B-corp and JUST labels) and co-develop and report on bank defined commitments and work with countless stakeholders to establish best practices and optimize our triple bottom line impact. The CIO’s top priority is to ensure the Bank’s work delivers on our commitment to invest in and serve our local communities, contributes to environmental sustainability, nurtures people in an inclusive, fair, and equitable manner and promotes responsible and transparent practices.

This role is new within the Bank, as the function has been previously positioned within Beneficial State Foundation. The creation of this role will help to establish an ‘office of standards’; evaluating external third-party certifications and commitments in coordination with the CRA/CDFI leadership group, recommending which the Bank should endorse; and developing reporting and compliance functions to ensure the integrity of those standards and that they are met and/or exceeded consistently. This role will also serve as the primary lead in helping leadership at the Bank establish and monitor mission-related goals for each business line and internal goals for the entire enterprise.

ESSENTIAL DUTIES
LEADERSHIP AND STRATEGY

• Leads and serves as a thought partner in strategy conversations about impact within the Bank.
• Conducts regular analysis of impact and shares finding with department teams to inform strategy and identify opportunity.
• Identifies and supports new policies and practices that reinforce the Bank’s mission.
• Works with leaders to integrate mission into the Bank’s products and services, and other aspects of work.
• Assesses opportunities to incorporate Beneficial State Foundation’s Equitable Bank Standards into Bank work and partners with leaders to establish related impact goals.
• Supports business leaders on impact-related matters through strategic direction and program/project management.
• Develops and implements efficient and effective processes to align the priorities of the Impact Team with the Bank’s goals and strategy.
• Collaborates with line management as advisor to the bank’s not-for-profit sponsorship program, ensuring partnerships align with Bank mission and augments the bank’s direct impact.
• Liaisons with external partners and stakeholders to monitor and engage in standards development advocacy.
• Manages social and environmental impact fellows, as needed.
• Collaborates with departments on new impact-related initiatives.
• Provides recommendations for greater operational mission alignment.

METRICS AND GOALS

• Leads and supports continually evolving impact goals and metrics by facilitating discussions, conducting research, and making recommendations.
• Supports further development of the Bank’s theory of change, collecting data and completing analyses to assess progress. Recommends modifications to the theory of change as results come in to ensure greatest effectiveness and transparency.
• Collaborates with leadership to determine the Bank’s key success indicators and leads the team responsible for the collection and dissemination of impact program information to ensure established goals are being achieved.
• Develops metrics and goals related to internal corporate practices such as corporate sponsorships, sustainability.
• Collaborates with leadership to create additional metrics, impact KPIs and goals related to the impact program.
• Selects impact audit partner and submits results annually, correcting any inaccuracies that are revealed by the audit.

RESEARCH, DATA COLLECTION AND SYSTEMS

• Determines key indicators for success and leads program information collection and dissemination efforts ensure established goals are met.
• Conducts and/or leads team members in research of local demographics, community needs and other relevant data to support Bank’s impact efforts; develops memoranda and reports summarizing findings and makes recommendations for action.
• Builds and maintains a current database of the annual impact reporting information.
• Works with various business lines and departments to refine data collection and establish specific goals and objectives to help shape and refine the Bank’s standards programs, ensuring understanding and achievement of goals and objectives.
• Follows trends, research, and new developments in the areas of impact investing and social finance to ensure data collection and reporting efforts conform to industry best practices.
• Assesses current data collected to identify opportunities for expanded data collection for each department / business line including commercial and consumer lending; credit cards; other bank products, services, and functions.
• Reviews current data collection systems and processes to identify gaps and recommends improvements based on best practices.
• Establishes process for integrating borrower impact survey results into the bank’s core system data and reporting
• Responds to requests for data and reporting from Bank and Foundation staff or assigns to appropriate Office of Standards resource for completion.
• Ensures data collected is compliant with all federal and state laws and regulations.

COMMUNICATION AND ENGAGEMENT – INTERNAL AND EXTERNAL

• Develops internal and external communications plans relating to impact, ensuring consistent story-oriented narrative across both.
• Works closely with Marketing and external communications vendors, as well as Human Capital, to develop a compelling message that accurately assesses the Bank’s progress against established impact goals and effectively tells the story of that impact.
• Communicates impact metrics in a meaningful and engaging way to a variety of stakeholders including the Bank Board of Directors, management, staff, and Foundation; identifying opportunities to improve and expand the sharing of information and metrics via new communication channels.
• Works with Human Capital to ensure Bank employees clearly understand and can communicate the work, impact, and the Bank’s theory of change.
• Leads and directs the creation of annual Impact Report in collaboration with Marketing, business lines, the Foundation, and other stakeholders and consultants. Develops the project plan and timeline to ensure publishing deadlines are met and holds business line managers accountable for delivering impact reporting content and minimizing content scope creep.
• Partners with Marketing and Human Capital to align on a central internal communication channel for disseminating impact information to employees.
• Increases overall engagement and awareness of impact-related assets and resources to ensure they are used consistently to share the Bank’s impact and story both internally and externally.
• Collaborates with Marketing and the Beneficial State Foundation to complete brand strategy work to build the story of beneficial banking.
• Develops procedures to update impact website and ensures it is up-to-date and places the mission and story at the forefront.
• Assesses current practices for communicating impact data via surveys, informational interviews, and other research methods. Synthesizes this data to make recommendations for improvements to include interactive BI dashboards, ArcGIS maps and other means of visual data storytelling.
• Amplifies visibility of impact data via digital platform and other media, and coordinates with Marketing and BSF teams to increase visibility via partner channels.
• Contributes and maintains involvement with a variety of third-party impact reports and certifications such as B Corp, Global Alliance of Banking on Values (GABV), UNEP FI PRB + CCCA, etc. and leads in identifying and assessing others that Bank should consider participating in.
• Represents the Bank at a variety of forums including conferences, working groups, state and local coalitions, webinars etc., and provides advocacy materials as requested.
• Performs other duties as assigned.

MINIMUM QUALIFICATIONS

• Bachelor’s degree or equivalent experience.
• 5 years of demonstrated experiences in ESG, stakeholder relations, marketing, communications, public policy, advocacy, government relations or data analytics.
• Direct experience in the development of standards relating to organizational impact, including ESG-

related measures.

• Deep knowledge of financial services and theory of change.
• Understanding of data management and analysis.
• Familiarity with the field of social impact and related sectors such as social entrepreneurship,

corporate social responsibility, etc.

• Excellent verbal and written communication skills. Strong presentation skills.
• Excellent interpersonal skills, with the ability to work effectively with a diverse range of individuals,

teams, leaders, and external stakeholders to establish and achieve common goals.

• Advanced proficiency in PowerPoint and Excel, knowledge of Adobe Creative Suite a plus.
• Highly dependable with strong organizational skills with the ability to juggle multiple projects and

meet deadlines simultaneously.

• Demonstrated track record of tenacity when faced with ambiguity, changing priorities, or

challenges.

What is the benefit package for this role? Beneficial State Bank’s benefits include a comprehensive package designed to support you and your eligible dependents. We focus on the holistic health of our team members and promote work-life balance.

Our benefit package includes:

• Medical / Dental / Vision / Basic Life / STD / LTD
• Vacation Days: 2-4 weeks depending on role
• Sick Days: 12 days per year
• Holidays: 11 days per year
• 401(K) / ROTH / FSA / HSA / EAP
• Education and Adoption Assistance
• Bank-Wide Annual Discretionary Bonus Program
• Production-based incentive program available for some roles.
• Paid Volunteer Time: 4 days per year / annual match of qualifying employee donations
• Paid Sabbatical Program after 5 years of service
• Pet Benefits

For detailed information about our benefits, please visit http://www.beneficialstatebank.com/about-us/careers

You are welcome here at Beneficial State Bank. We are an equal opportunity employer and all qualified applicants will receive consideration for employment regardless of race, color, religion, sex, sexual orientation, national origin, gender identity, disability or veteran status.

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