Financial Innovation Specialist

2 weeks ago

Boston, Massachusetts, United States Build Commonwealth Full time
Position Overview

Salary: $53,000 per year

Organization Overview:

In the United States, millions face chronic financial instability, insufficient savings, and a lack of meaningful wealth, leading to severe repercussions for individuals, families, and communities. Households led by Black, Latinx, and women are particularly affected due to enduring systemic racism and gender bias. Addressing these challenges is essential to Commonwealth's mission of fostering financial prosperity for all.

For over 20 years, Commonwealth has aimed to cultivate a more robust and equitable society where everyone has access to financial opportunities. Our initiatives have empowered over 2 million individuals to save nearly $8 billion, paving the way to enhanced financial security and wealth. We are embarking on a new strategic plan aimed at amplifying our impact by expanding workplace benefits, enhancing collaborations with financial institutions and fintech partners, and exploring innovative areas such as climate finance and generative AI.

Commonwealth is dedicated to improving the financial security of vulnerable populations by identifying innovative ideas, piloting effective solutions, and scaling successful initiatives. We recognize that significant change necessitates the engagement of various market players. Thus, we adopt a collaborative approach involving consumers, the financial services sector, employers, policymakers, and mission-driven organizations. Our solutions are grounded in real-world experiences, informed by our comprehensive understanding of the needs of financially vulnerable individuals and how businesses can best address them.

Over the years, we have motivated employers to prioritize financial security for their workforce, encouraged the financial services industry to develop products that cater to the needs of vulnerable populations, and influenced policymakers to enact legislation that promotes savings and financial stability.

Position Responsibilities:

  • Coordinate various projects through effective task management, organization, and diligent follow-up.
  • Conduct comprehensive desk research and landscape assessments to aid in employer partnership recruitment.
  • Assist in original qualitative and quantitative research, including data analysis, in-depth interviews with low- to moderate-income individuals, focus groups, surveys, and consultations with subject matter experts.
  • Design and prototype innovative solutions to address financial challenges.
  • Support and engage in stakeholder meetings; contribute to the creation of high-quality presentations and the translation of research findings for diverse audiences.
  • Collaborate creatively with a small, results-driven team to ensure projects progress toward both immediate milestones and long-term strategic goals.
  • Contribute to written communications that articulate our work and promote the dissemination of innovations.
  • Foster a positive organizational culture through high energy, a commitment to learning, and active participation in project teams.

Required Skills and Competencies:

  • Outstanding organizational abilities, capable of managing multiple complex projects with agility and meticulous attention to detail.
  • Self-motivated with the capacity to work independently as well as collaboratively within a team.
  • Results-oriented mindset with the ability to achieve objectives and manage competing deadlines.
  • A learning-oriented approach and enthusiasm for understanding the challenges faced by low- to moderate-income households.
  • Strong analytical skills and the ability to derive insights from quantitative data.
  • Creative problem-solving skills and the discernment to seek assistance when necessary.
  • Ability to cultivate relationships and collaborate with a diverse range of partners.
  • Excellent interpersonal communication skills, with a proven track record of crafting persuasive verbal and written communications for varied audiences.
  • Flexibility and willingness to adapt to project needs as they arise.
  • Demonstrates a strong sense of accountability and shared responsibility.
  • Passionate about Commonwealth's mission and committed to driving social change through enhancing financial security and opportunities for vulnerable populations.
  • Familiarity with financial technology innovations, financial disparities, and the unmet needs of low- and moderate-income households is highly desirable.

Benefits:

  • Medical insurance
  • Dental & Vision insurance
  • Short- and long-term disability insurance
  • Life insurance
  • Health Savings Account with employer contributions
  • Retirement matching contributions
  • Generous paid vacation leave, sick leave, and 16 paid holidays
  • Summer Friday schedule between June & Labor Day

Commonwealth is an equal opportunity employer, committed to diversity and inclusion in the workplace.

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