Impact Investment Director

AARP • Washington, DC

4d • Hybrid

About The Position

The Impact Investment Director leads AARP Foundation’s impact-investment activities, overseeing development, execution, and monitoring of a portfolio of private-market and mission-aligned investments intended to generate competitive financial returns and measurable social impact. The Director serves as the internal subject-matter expert on impact investing and works with external investment advisors, senior leadership, and the Impact Investment Committee. The position ensures investment decisions are supported by rigorous due diligence, sound governance, clear impact objectives, and consistent performance measurement.

The role is based in a hybrid work environment. AARP observes Mondays and Fridays as remote workdays, except for essential functions; remote work is limited to the United States and its territories. The office environment is an open office with moderate noise. Travel may be needed for due diligence, manager meetings, and industry events.

AARP will not sponsor an employment visa for this position. AARP is an equal opportunity employer committed to a diverse workforce and inclusive culture.

Requirements

• Bachelor’s degree in finance, economics, accounting, business, public policy, or a related field.
• At least 8 years of experience in investment management, private equity, private markets, institutional investing, consulting, foundation investing, or related areas.
• Expertise in evaluating private-market funds, investment managers, portfolio construction, valuation, performance, and risk.
• Proven ability to conduct comprehensive financial, operational, legal, governance, and impact due diligence.
• Experience partnering with external investment advisors, consultants, fund managers, and outsourced investment providers.
• Strong quantitative, financial modeling, analytical, writing, presentation, and project management capabilities.
• Ability to maintain confidentiality and adhere to ethics, conflict-of-interest, and personal investment policies.
• Effective verbal and written communication skills.
• Ability to exercise independent judgment in evaluating options and making sound decisions.
• Ability to work effectively in an open office environment surrounded by moderate noise.
• Regular and reliable job attendance.

Nice To Haves

• An advanced degree or CFA, CAIA, CPA, or similar credential.
• Familiarity with impact investing, mission-related investing, and impact-measurement practices.
• Willingness to travel for due diligence, manager meetings, and industry events.

Responsibilities

• Lead development and oversee implementation of the impact-investment strategy with senior leadership, the Impact Investment Committee, AARP Treasury, and external investment advisors, aligning portfolio objectives with mission priorities, risk parameters, return expectations, and fiduciary requirements.
• Review and assess opportunities identified and recommended by external investment advisors across private equity, private credit, venture capital, real assets, alternative investments, program-related investments, mission-related investments, and other mission-aligned impact opportunities.
• Consider opportunities for AARP Foundation to create value beyond capital through strategic grantmaking, networks, partnerships, and related mission-aligned resources.
• Review and oversee external advisors’ investment due diligence, including evaluation of investment strategy, manager track record, financial performance, portfolio construction, valuation practices, fees, governance, and legal, regulatory, operational, reputational, and impact-related risks.
• Monitor financial and impact performance of investments and the overall portfolio, including commitments, invested and unfunded capital, cash flows, valuations, returns, liquidity, exposures, capital calls, distributions, and manager reporting.
• Serve as the primary day-to-day relationship manager for external investment advisors and evaluate their sourcing, due diligence, monitoring, reporting, impact-measurement support, service quality, fees, and potential conflicts of interest.
• Develop and maintain impact-measurement and management frameworks, including objectives, indicators, baselines, expected outcomes, portfolio reporting, and processes to assess outcomes and risks of impact dilution or impact washing.
• Prepare clear, balanced, decision-useful assessments of investment recommendations, dashboards, portfolio reviews, committee materials, and reports for senior leadership, the Impact Investment Committee, the Finance Committee, and the Board.
• Maintain and recommend enhancements to investment policies, due-diligence standards, delegation-of-authority requirements, documentation, controls, and procedures to strengthen oversight, compliance, risk management, and continuous improvement.
• Maintain regular and reliable job attendance, communicate effectively, demonstrate respect and understanding in professional relationships, and use independent judgment to evaluate options and make sound decisions.

Benefits

• 401(k)
• 100% company-funded pension plan
• Health, dental, and vision plans
• Life insurance
• Paid time off, including company and individual holidays, vacation, sick, caregiving, and parental leave
• Performance-based and peer-based recognition
• Tuition reimbursement

What This Job Offers

• Job Type: Full-time
• Career Level: Director