HASI is seeking an experienced portfolio management professional in the renewable energy sector to join our Portfolio Management team in Annapolis, MD.
The Director of Portfolio Management (PM) will manage several of HASI's investments in utility-scale renewable energy ("Grid Connected"), distributed generation ("Behind the Meter"), and/or new and emerging areas ("Fuels, Transport, and Nature"). The Director PM will play a pivotal role in ensuring that HASI's portfolios are able to deliver on their performance targets by leading value optimization initiatives, solving problems, monitoring and managing risks, establishing and measuring key portfolio indicators (KPIs) to proactively understand performance, and maintaining strong and collaborative relationships with clients. The Director PM will have the P&L ownership for the specific portfolios being managed which includes, in addition to the above, the responsibility for the forecasting and tracking of portfolio cash flows on a monthly basis, providing frequent (monthly/quarterly) performance updates to management and external investors, and ensuring seamless portfolio management cross-functionally with the Investment, Legal, Accounting, and Treasury teams.
Education and Prior Work Experience
At least 10 years of overall professional experience, with at least 10 years' experience in investing, financing, and/or portfolio management in the North American renewable energy sector, with a focus on wind, solar, renewable natural gas, electric transportation, energy efficiency, and/or other sustainable infrastructure.
Bachelor's degree in a business or technical discipline (i.e. engineering or finance/business). Relevant Master's degree, CFA or other certification is preferred
Demonstrated team leadership and management skills
Responsibilites
The Director PM will directly or indirectly lead a team of analysts and managers responsible for maximizing the financial performance of HASI's portfolio investments.
Maintaining a deep understanding of the underlying project assets and investment structures (financial, technical, and contractual)
The Director PM should be deeply familiar with the deal documents, governance rights, HASI's rights/obligations, and financial models of the portfolios they are leading
Act as the lead on investment restructurings, workouts, modifications, and dispositions. Associated commercial responsibilities include, but are not limited to, leading the internal cross-functional team across the enterprise to achieve the desired outcomes, assessing the corresponding value and risk, negotiating terms with counterparties, and reviewing/recommending the sign-off on final deal documents.
The Director PM will be responsible for ensuring such efforts create value, reduce risk, and enhance HASI's credibility and position with clients and counterparties
Provide and manage financial modeling and other necessary support for valuation updates to existing portfolios, creation of new models for restructuring activities, and support the internal accounting and treasury teams for corporate reporting requirements and cash flow forecasting
Act as primary liaison with the asset management teams with HASI's external stakeholders - sponsors (owner/operators) and lenders/co-equity investors
Support due diligence on new investments including, but is not limited to, reviewing key commercial contract terms and working with the Investment Team to negotiate acceptable outcomes, opining on revenue and expense assumptions, and analyzing the underlying market and regulatory value drivers and risks of the investment
Provide feedback to the Investment Team leveraging the experience gained from the existing portfolio to strengthen future underwriting
Manage the maintenance of investment data in software systems on an ongoing basis
Monitor and analyze operating and financial performance across the portfolio, and conduct variance analysis of project and investment performance
Establish and measure key metrics that can act as early indicators of portfolio performance, value, and risks
Develop reports and dashboards, as appropriate, to depict portfolio performance (KPIs), financial metrics, and expected cash flows
Support compliance monitoring which includes tracking and recording sponsor and investor communications and compliance calendar, project contract compliance, insurance, and regulatory
Enhance commodity and environmental attribute tracking intelligence (including pricing, basis, congestion, curtailment trends) and support strategies for portfolio optimization
Understand and internally communicate deal and transaction specifics and field ad-hoc requests from the business around investment data, performance and processes
Work closely with cross-functional teams to facilitate the complete, accurate, and timely onboarding of new transactions and ongoing monitoring of investments.
Work with the Information Technology department to support the ongoing build out of software systems, reports, and analytics, as needed to reduce inefficiencies and implement operational best practices
Participate on JV Management and Operating Committees with a focus on the operational and commercial issues related to HASI's existing investments
Assist in preparation and presentation of periodic internal, leadership, and Board materials
Specific Recommended Knowledge and Skills
Previous leadership and/or direct investment/financing experience in energy/renewable assets and related financial investments (i.e. tax equity partnerships; project finance debt and equity) from either an owner/operator or financial investor perspective.
Experience leading a team and working in a cross-functional team environment.
Ability to manage a team with multiple priorities and adjust to quickly to changing prioritiesValues diverse perspectives, highly collaborative, inclusive, able to bring out other view points from members of the team, and recommends decisions after considering others' points of view
High caliber and professional interpersonal, negotiation, communication, time management and presentation skills.
Dependable, reliable, plays to win as a team, and excellent at taking initiative and mentoring and managing staff.
Organized, detail-oriented, can work independently, and be a supportive team member
Experience with negotiating and resolving troubled investments and workouts.
Experience analyzing and underwriting sustainable infrastructure investments, with preference for prior participation in an investment approval process.
Solid working knowledge and understanding of commercial contracts, operations and maintenance, energy marketing, and regulations related to North American renewable utility scale, distributed generation power, renewable natural gas, and/or transportation projects.
Strong financial analysis and modeling skills with experience in creating, reviewing, and analyzing financial models.
Experience working with modern data analytics and reporting tools (Business Objects, Tableau, and others).
Excellent written and verbal communication skills
Excellent interpersonal skills with the ability and desire to work in a fast-paced, innovative, entrepreneurial environment.