Business Development Analyst

 BUSINESS DEVELOPMENT & CAPITAL MARKETS ANALYST 

ABOUT MORSBY, GORMAN, MCCARTHY LLC

Morsby, Gorman, McCarthy LLC is developing Project Guardian as a multidisciplinary, project-based initiative focused on infrastructure planning, implementation readiness, policy research, partnership development, evidence management, risk analysis, communications, and program coordination.

Project Guardian’s initial work centers on a proposed Kenya-focused infrastructure pilot. Participants will contribute to research, planning, analysis, documentation, and professional-quality project materials intended to help clarify the pilot’s feasibility, evidentiary foundation, funding requirements, implementation conditions, and potential pathways toward responsible replication or expansion.

Participation does not represent employment by, appointment to, or endorsement from any government, university, funder, investor, development institution, community, or prospective partner. Project Guardian is an independent initiative of Morsby, Gorman, McCarthy LLC unless a separate written agreement states otherwise.

PROGRAM TERMS

• Program dates: October 19, 2026–January 29, 2027
• Holiday pause: December 19, 2026–January 3, 2027, during which no routine work is expected
• Fully remote and asynchronous-first
• Normally 5–10 hours per week
• Work exceeding 10 hours in a week requires advance written approval
• Participants should not ordinarily exceed approximately 15 hours in any week
• Unpaid educational internship
• Academic credit may be available only when approved by the participant’s institution
• No promise or expectation of future employment
• Reasonable academic and accessibility accommodations will be considered
• Participation is subject to applicable confidentiality, data-handling, authorship, attribution, acceptable-use, and release requirements

EDUCATIONAL STRUCTURE

This is a structured, project-based learning experience. Participants receive defined learning objectives, supervised assignments, written or documented feedback, revision opportunities, and exposure to business development, capital-markets research, infrastructure, public policy, partnership analysis, and multidisciplinary program work.

Assignments are designed to develop transferable professional competencies through applied work of educational value. Participants may produce portfolio-appropriate materials, excerpts, or descriptions subject to confidentiality, intellectual-property, attribution, securities-law, data-protection, and release requirements.

Inclusion of any project pipeline, market map, investor or partner profile, financial information, presentation, screenshot, analysis, or deliverable in a portfolio requires prior written authorization. Authorized portfolio materials may require redaction, aggregation, anonymization, modification, or explanatory limitations.

Academic credit may be available only when approved by the participant’s institution. Participants are responsible for initiating and satisfying their institution’s credit-approval process. Morsby, Gorman, McCarthy LLC will reasonably cooperate with legitimate institutional documentation, learning-agreement, supervision, evaluation, and verification requirements when provided with sufficient notice.

Academic credit is not guaranteed and is not required for participation. The availability, amount, classification, and conditions of credit are determined solely by the participant’s institution.

The internship is intended to complement academic study and professional development. Participants will not displace regular employees, act as securities brokers or placement agents, solicit investments, or independently perform functions requiring licensed legal, accounting, investment, financial, regulatory, procurement, or other specialized professional judgment.

ROLE PURPOSE

The Business Development & Capital Markets Analyst supports Project Guardian by researching prospective markets, funding ecosystems, investors, development institutions, commercial participants, public-sector actors, philanthropic organizations, and other potential partnership categories relevant to infrastructure development.

The analyst will help organize business-development intelligence, assess preliminary strategic fit, document potential engagement pathways, and prepare supervised internal materials supporting partnership and capital-readiness discussions.

This role focuses on market mapping, opportunity research, institutional profiling, strategic-fit analysis, pipeline organization, and business-development materials.

It is distinct from the Infrastructure Funding & Capital Structuring Analyst, whose principal focus will be preliminary funding structures, capital-stack concepts, sources-and-uses analysis, scenario modeling, and financing dependencies.

This is a hands-on contributor internship, not an investment-banking, securities-brokerage, fundraising, investor-relations, sales, or independent external-representation position.

The analyst will not solicit investments, market securities, negotiate transactions, contact prospective investors or partners without authorization, or provide investment advice.

LEARNING OBJECTIVES

By the conclusion of the internship, the participant should be able to:

• Map a relevant business-development or infrastructure-finance ecosystem
• Distinguish investors, lenders, development-finance institutions, philanthropic funders, public agencies, technical partners, operators, vendors, advisers, and other participant categories
• Develop structured profiles of prospective institutions using reliable public sources
• Evaluate preliminary strategic fit, geographic relevance, sector focus, stage, mandate, typical transaction size, and participation requirements
• Distinguish verified institutional information from inference, marketing claims, and speculation
• Develop and maintain a prioritized opportunity or relationship pipeline
• Identify readiness gaps, dependencies, restrictions, conflicts, and appropriate next steps
• Prepare concise internal opportunity briefs and institution profiles
• Explain the difference between market research, relationship development, fundraising, securities solicitation, procurement, and formal transaction activity
• Recognize questions requiring legal, regulatory, accounting, investment, tax, procurement, sanctions, or reputational review
• Represent Kenyan institutions, markets, and stakeholders accurately and respectfully
• Apply confidentiality, attribution, data-minimization, and responsible-tool practices
• Communicate findings clearly to financial and nonfinancial collaborators
• Incorporate supervisory feedback into revised analysis and materials

PRIMARY RESPONSIBILITIES

Market and Ecosystem Mapping

• Research the relevant ecosystem surrounding infrastructure development, funding, delivery, operation, and partnership
• Identify categories of public, private, philanthropic, academic, technical, commercial, and development-sector participants
• Map relationships among project sponsors, governments, development-finance institutions, commercial banks, institutional investors, impact investors, foundations, grantmakers, operators, contractors, advisers, insurers, and technical-assistance providers
• Distinguish potential capital providers from technical partners, vendors, procurement authorities, implementing organizations, and policy stakeholders
• Document the purpose, scope, sources, assumptions, and limitations of each ecosystem map
• Avoid implying relationships, endorsement, participation, or market interest that have not been confirmed
• Identify important categories or institutions that may require additional local or specialist research

Institution and Organization Research

• Develop supervised profiles of relevant organizations using reliable public information
• Research institutional mandate, geography, sector focus, stage, instruments, typical commitment size, eligibility, published priorities, decision process, and recent activity
• Record authoritative sources, publication dates, links, access dates, and important limitations
• Distinguish official information from news coverage, databases, third-party summaries, marketing claims, and analyst inference
• Avoid inferring current interest merely from historical transactions or broad public mandates
• Identify where published information is outdated, incomplete, unclear, or contradictory
• Preserve sufficient documentation for authorized reviewers to evaluate the research
• Avoid collecting unnecessary personal information concerning individual employees or representatives

Opportunity Identification and Qualification

• Identify supervised business-development, funding, technical-assistance, partnership, and market-learning opportunities
• Evaluate preliminary relevance according to sector, geography, project stage, mandate, scale, timing, restrictions, readiness, strategic value, and execution burden
• Categorize opportunities as immediate, near-term, longer-term, conditional, exploratory, unsuitable, or closed
• Record the rationale supporting each categorization
• Distinguish confirmed opportunities from preliminary leads and speculative possibilities
• Identify required qualifications, evidence, registrations, approvals, counterparties, or implementation capacity
• Flag apparent conflicts, exclusions, restrictive conditions, reputational concerns, or unrealistic assumptions
• Avoid presenting preliminary fit as eligibility, approval, commitment, or probability of success

Pipeline Development and Management

• Help maintain an authorized opportunity and prospective-relationship pipeline
• Record institution, category, strategic rationale, source, status, readiness gaps, dependencies, next step, ownership, and authorized-contact status
• Identify duplicated records, outdated information, unclear ownership, and missing follow-up decisions
• Prioritize entries using documented criteria rather than perceived prestige alone
• Distinguish internal research status from actual external engagement status
• Maintain clear labels for unreviewed, researched, qualified, deferred, unsuitable, approved for outreach, contacted, and closed entries
• Coordinate with the Funding and PPP Integration Lead on opportunity status and authorized next steps
• Coordinate with the Knowledge and Data-Room Manager on controlled storage and supporting records
• Never treat inclusion in a pipeline as authorization to contact an organization

Strategic-Fit and Readiness Analysis

• Compare prospective opportunities with Project Guardian’s documented pilot scope, stage, geography, evidence, governance, resource needs, and implementation capacity
• Identify the information or readiness work required before an opportunity could be responsibly pursued
• Assess preliminary alignment without overstating likely interest or success
• Identify dependencies involving local participation, governmental authority, procurement, technical validation, legal structure, safeguarding, monitoring, reporting, or co-financing
• Distinguish project readiness from organizational eligibility and investor or partner readiness
• Clearly document assumptions, limitations, and unresolved questions
• Route regulated, technical, legal, accounting, investment, tax, or procurement questions for qualified review

Comparable Activity and Transaction Research

• Research relevant publicly disclosed projects, partnerships, financings, grants, investments, or infrastructure initiatives
• Record project purpose, geography, participants, stage, announced amount, instrument, date, and source
• Distinguish announced, committed, closed, disbursed, operational, restructured, and completed activity where information permits
• Avoid treating announced values as verified disbursements or completed investment
• Identify material differences in scale, risk, structure, geography, governance, and implementation context
• Avoid presenting another project or transaction as directly comparable when important differences limit relevance
• Use comparable activity to support context and hypothesis development rather than unsupported valuation or prediction

Business-Development Materials

• Draft supervised institution profiles, opportunity briefs, ecosystem summaries, market maps, pipeline summaries, and strategic-fit memoranda
• Support preparation of internal briefing materials and approved presentation content
• Translate research into concise, audience-appropriate language
• Clearly distinguish verified information, analysis, assumptions, recommendations, and unresolved questions
• Preserve material limitations, sources, and status labels
• Avoid promotional language that exaggerates readiness, traction, partnerships, market demand, funding, or expected results
• Coordinate with the Communications and Design Integration Lead on presentation and visual consistency
• Submit external-facing materials for appropriate evidentiary, editorial, legal, and leadership review

Stakeholder and Contact Preparation

• Develop supervised background briefs for potential engagements authorized by program leadership
• Identify an organization’s public mandate, relevant programs, published interests, terminology, and decision context
• Prepare internal question lists and objectives for approved conversations
• Document what may and may not be represented externally
• Avoid collecting private contact details or unnecessary personal information
• Use professional contact information only when authorized and appropriate
• Do not initiate contact, send messages, schedule meetings, or represent Project Guardian without specific authorization
• Document authorized interactions accurately and preserve follow-up responsibilities

Reputational, Conflict, and Restriction Screening

• Conduct preliminary public-source screening of prospective organizations and opportunities
• Identify material controversies, conflicts, exclusions, restrictions, sanctions concerns, litigation disclosures, governance questions, or mission-alignment issues for further review
• Distinguish verified facts from allegations, commentary, and unresolved reporting
• Avoid making legal, moral, or reputational determinations beyond the available evidence
• Preserve source context and communicate uncertainty
• Escalate sensitive findings through designated channels
• Avoid distributing sensitive or potentially defamatory material beyond authorized reviewers
• Route sanctions, anti-bribery, anti-corruption, securities, legal, and formal due-diligence questions for qualified review

Kenya and Regional Context

• Research Kenya-specific and regional business, infrastructure, development-finance, institutional, and partnership contexts relevant to assigned work
• Prioritize credible Kenyan, regional, African, governmental, academic, professional, and locally grounded sources where available
• Distinguish national, county, municipal, community, sectoral, and site-specific conditions
• Avoid treating Kenya or Africa as a single uniform market
• Identify where desk research requires confirmation by local expertise, official information, field evidence, or authorized stakeholder consultation
• Represent Kenyan institutions, communities, companies, and decision-making authority accurately and respectfully
• Avoid extractive, paternalistic, stereotypical, or decontextualized framing
• Avoid implying local demand, consent, endorsement, participation, or partnership that has not been established

Cross-Functional Collaboration

• Coordinate with the Funding and PPP Integration Lead on funding and prospective-partner research
• Coordinate with the Infrastructure Funding & Capital Structuring Analyst on capital-provider categories and structure-related questions
• Coordinate with research contributors on market, institutional, policy, and comparative evidence
• Coordinate with the Evidence and Quality Assurance Lead on important claims and source quality
• Coordinate with the Monitoring, Risk and Continuity Lead on reputational, dependency, and execution risks
• Coordinate with the Knowledge and Data-Room Manager on source records, pipeline documentation, and controlled information
• Coordinate with communications contributors on approved business-development materials
• Escalate material conflicts in sources, status, eligibility, or interpretation

SUPERVISION, FEEDBACK, AND REVISION

The Business Development & Capital Markets Analyst will receive assignments, guidance, and feedback from designated project or workstream leadership.

The analyst may coordinate closely with the Funding and PPP Integration Lead, Program Director, Deputy Program and Operations Manager, Evidence and Quality Assurance Lead, and relevant research, finance, strategy, or communications contributors.

The educational workflow is expected to include:

• Initial orientation to Project Guardian’s scope, status, standards, authority limits, and confidentiality requirements
• Defined assignments connected to the role’s learning objectives
• Access to approved templates, examples, sources, and project context
• Scheduled or milestone-based supervisory review
• Written, annotated, or otherwise documented feedback
• Opportunities to ask questions and clarify expectations
• Reasonable opportunities to revise substantive work
• Progressively more complex assignments where supported by demonstrated readiness
• Periodic reflection on professional development and learning progress
• A final review or evaluation where appropriate

Feedback may address research quality, institutional understanding, strategic-fit reasoning, pipeline discipline, source use, status accuracy, ethical judgment, written communication, contextual awareness, collaboration, and the participant’s ability to incorporate revisions.

EXPECTED EDUCATIONAL OUTPUTS

Depending on project needs, participant readiness, source availability, workstream placement, and supervisory direction, outputs may include:

• Market and ecosystem maps
• Institutional and organization profiles
• Capital-provider and partnership-category maps
• Opportunity qualification assessments
• Prospective-relationship pipeline records
• Strategic-fit and readiness memoranda
• Comparable-project or transaction research
• Opportunity and institution briefing notes
• Reputational, conflict, and restriction-screening notes
• Business-development decision matrices
• Approved presentation or briefing content
• Source registers and research documentation
• Market, mandate, and eligibility comparison tables
• Recommended research and readiness next steps
• Handoff and unresolved-question records
• Substantive original research, analysis, and writing

Outputs are educational and developmental materials. Their production does not guarantee outreach, engagement, investment, financing, partnership, publication, adoption, or implementation.

PERFORMANCE AND LEARNING ASSESSMENT

Progress may be assessed according to:

• Accuracy and completeness of institutional and market research
• Quality, authority, relevance, and recency of sources
• Ability to distinguish verified information from inference, marketing claims, and speculation
• Quality of opportunity qualification and strategic-fit reasoning
• Accuracy and usability of pipeline records
• Appropriate treatment of status, readiness, restrictions, and uncertainty
• Ability to identify conflicts, risks, dependencies, and specialist-review needs
• Respect for confidentiality, local context, stakeholder authority, and external-communication limits
• Clarity and professionalism of written materials
• Ability to avoid implying unconfirmed relationships, endorsements, or commitments
• Ability to receive, evaluate, and incorporate feedback
• Reliability in meeting agreed milestones or communicating constraints early
• Effectiveness in multidisciplinary collaboration
• Growth against the stated learning objectives

Assessment is intended to support learning and program administration. It is not a securities, investment-banking, brokerage, finance, fundraising, or business-development credential.

PREFERRED QUALIFICATIONS

Candidates may be undergraduate or graduate students, postdoctoral researchers, recent graduates, alumni, or early-career professionals. Relevant classroom, volunteer, internship, military, community, entrepreneurial, or professional experience may be considered. No single academic major is required.

Relevant academic areas may include finance, economics, business administration, international business, public policy, international development, political economy, public administration, nonprofit management, infrastructure planning, or related interdisciplinary fields.

Strong candidates will demonstrate:

• Strong research, analytical, organizational, and written-communication skills
• Interest or experience in business development, capital markets, infrastructure finance, institutional research, partnerships, development finance, or market analysis
• Ability to profile organizations and compare mandates, strategies, and published activity
• Ability to distinguish confirmed information from assumptions and speculation
• Comfort working with pipelines, tables, comparison frameworks, presentations, and research databases
• Sound judgment regarding confidentiality, conflicts, external communications, and reputational sensitivity
• Ability to translate complex institutional or financial information into clear internal materials
• Respect for local context, stakeholder authority, and cross-cultural collaboration
• Willingness to document methods, accept feedback, and revise substantive work
• Reliability when collaborating across disciplines and time zones

Prior experience relating to Kenya, Africa, infrastructure, international development, finance, philanthropy, government programs, or public-private partnerships may be helpful but is not required.

Applicants are not expected to possess a securities license, professional finance credential, investment-banking experience, or prior fundraising authority.

APPLICATION MATERIALS

Applicants should submit through Handshake:

• A current résumé
• A cover letter explaining their interest in Project Guardian and describing relevant business-development, financial, market-research, partnership, academic, or transferable experience
• One relevant work sample, such as a market analysis, organization profile, opportunity assessment, investment or policy memo, industry research paper, business case, presentation, or comparable academic, professional, volunteer, or independent work

Applicants should remove or redact confidential, proprietary, personally identifiable, restricted, privileged, licensed, or third-party information from submitted samples.

If the applicant’s strongest work was completed collaboratively, the applicant should briefly identify their individual contribution.

Applicants must not submit confidential transaction materials, proprietary investor lists, private contact databases, material nonpublic information, or documents they are not authorized to share.

A prior professional work sample is not required. Academic, volunteer, independent, simulated, or appropriately redacted work is acceptable.

SELECTION PROCESS

Initial screening will be asynchronous. Applications will be assessed based on demonstrated alignment, research ability, strategic reasoning, communication quality, judgment, learning potential, and the relevance of submitted materials.

Finalists may be invited to complete a brief, time-limited educational evaluation exercise using hypothetical or publicly available information. The exercise may ask the applicant to profile an institution, assess preliminary strategic fit, compare several opportunity categories, or organize a small prospective-partner pipeline.

Any selection exercise will be designed solely to evaluate the applicant’s reasoning and communication. It will not involve actual confidential project information, be used as uncompensated production work, or be incorporated into Project Guardian deliverables without separate written permission and appropriate arrangements.

Live conversations will be limited to finalists or circumstances requiring clarification. References may be requested selectively. Reasonable accommodations are available during the selection process.

Priority application deadline: October 2, 2026. The posting may close earlier or later based on application volume, institutional review timing, or program needs.

SECURITIES, SOLICITATION, AND TRANSACTION LIMITATIONS

This internship does not involve offering, selling, marketing, recommending, arranging, or soliciting securities or investments.

The analyst may not independently:

• Solicit or accept investments, loans, grants, donations, sponsorships, or financial commitments
• Recommend that any person purchase, sell, or hold an investment
• Identify themselves as a broker, dealer, investment adviser, placement agent, banker, fundraiser, or authorized representative
• Distribute offering materials
• Provide individualized investment, legal, accounting, tax, or financial advice
• Discuss or negotiate investment terms
• Promise returns, repayment, impact, eligibility, allocation, or project performance
• Receive transaction-based compensation
• Handle investor funds or payment instructions
• Access or use material nonpublic information
• Conduct regulated due diligence or customer-identification procedures
• Contact prospective investors, funders, partners, or intermediaries without prior authorization

All work is limited to supervised internal research, educational analysis, and preparation of draft materials unless separately authorized.

CONFIDENTIALITY, ATTRIBUTION, AND RESPONSIBLE TOOL USE

Participants may encounter confidential, preliminary, proprietary, sensitive, licensed, or access-controlled information. Such information may be used only for authorized program purposes and handled according to applicable instructions.

Participants must:

• Protect confidential, personal, proprietary, licensed, and restricted information
• Use only authorized systems, accounts, storage locations, databases, and transfer methods
• Access only materials reasonably necessary for assigned work
• Avoid uploading confidential, proprietary, restricted, contact, transaction, or financial information to unapproved third-party platforms
• Preserve citations, source records, research notes, review history, and version information
• Distinguish original work from quoted, adapted, collaborative, translated, or tool-assisted material
• Disclose material use of generative artificial intelligence or automated tools when requested
• Independently verify institutional facts, financial figures, transactions, mandates, contacts, citations, and source interpretations
• Avoid fabricating relationships, interest, commitments, sources, transactions, financial data, or findings
• Obtain approval before externally sharing project materials or including them in a portfolio
• Report suspected confidentiality, access, integrity, conflict, or information-handling problems promptly

Automated tools may support learning, brainstorming, organization, research, or drafting only when permitted. They may not replace source review, financial judgment, confidentiality obligations, or responsibility for submitted work.

Restricted or material nonpublic information may not be entered into public or unauthorized artificial-intelligence systems.

PROFESSIONAL AND REGULATORY LIMITATIONS

This internship does not authorize the participant to provide or represent that they are providing securities, investment, brokerage, legal, accounting, tax, valuation, procurement, compliance, or other licensed professional advice or services.

Market maps, institution profiles, pipelines, comparable-activity research, strategic-fit assessments, and business-development materials are educational and developmental work products. They are not offering documents, investment recommendations, valuations, fairness opinions, credit decisions, legal opinions, regulated due-diligence reports, or guarantees of eligibility, financing, partnership, or performance.

Questions requiring specialized professional judgment must be identified and routed for qualified review.

REPORTING AND AUTHORITY

The analyst will receive assignments and feedback from designated project or workstream leadership. The Funding and PPP Integration Lead will ordinarily coordinate relevant funding and partnership research. Overall operational coordination remains with the Deputy Program and Operations Manager.

The analyst may:

• Complete approved internal market, institutional, business-development, and capital-markets research
• Develop internal profiles, maps, comparisons, pipelines, briefs, and recommendations
• Request clarification and authorized project information
• Identify strategic-fit questions, readiness gaps, restrictions, risks, and specialist-review needs
• Recommend additional authorized research or internal preparation
• Collaborate with assigned internal participants
• Revise work in response to documented feedback

The analyst may not independently:

• Solicit funding or investments
• Contact prospective investors, funders, partners, government officials, institutions, or intermediaries
• Market securities or distribute offering materials
• Negotiate financial, investment, partnership, procurement, or contractual terms
• Make legal, financial, employment, procurement, partnership, investment, or contractual commitments
• Represent the company, project, university, or any institution externally
• Publish, distribute, or release project materials
• Issue public statements
• Approve final investment, valuation, legal, financial, or transaction conclusions
• Promise funding, partnership, returns, implementation, academic credit, employment, publication, or any project outcome
• Authorize another participant to exercise any of these powers

Final decisions concerning external outreach, financing strategy, securities activity, partnerships, transactions, publication, resource commitments, and institutional representation remain with authorized program leadership and, where necessary, qualified professionals.

All external outreach, solicitations, submissions, negotiations, representations, commitments, and releases require prior authorization.

ELIGIBILITY AND INSTITUTIONAL CONDITIONS

Applicants must be able to participate remotely during the stated program period and communicate reliably in an asynchronous-first environment.

Students seeking academic credit must contact their institution and initiate any required approval, registration, learning-agreement, or internship-verification process. Institutional approval and academic credit are not guaranteed.

Where required, participation may be conditioned on completion of appropriate institutional documentation, confidentiality agreements, information-handling acknowledgments, intellectual-property terms, conflict disclosures, acceptable-use requirements, or other reasonable program documentation.

International students and other applicants are responsible for confirming with their institution or qualified adviser whether participation is consistent with applicable academic, immigration, authorization, funding, or institutional requirements. Morsby, Gorman, McCarthy LLC does not provide immigration, visa, tax, legal, investment, or employment-authorization advice.

EQUAL CONSIDERATION AND ACCOMMODATIONS

Morsby, Gorman, McCarthy LLC intends to consider applicants based on role-related qualifications, demonstrated readiness, learning potential, and program needs. Reasonable accommodations may be requested for the application process or internship experience.

Applicants are encouraged to describe relevant academic, professional, volunteer, military, community, entrepreneurial, caregiving, independent, or lived experience when it demonstrates transferable skills applicable to the role.