Vice President, Investment & Portfolio Management - NYSERDA : Job Details

This position is at the NY Green Bank, a division of NYSERDA. NY Green Bank is a globally recognized sustainable investment fund. Its mission is to accelerate clean energy deployment in New York State in alignment with the Climate Act.

NY Green Bank collaborates with the private sector to transform financing markets. It also develops transaction structures and methodologies that overcome typical clean energy investment barriers and can serve as replicable models for other capital providers.

New York is leading the nation in the fight on global climate change and the transition to a clean energy-powered economy. The Climate Leadership and Community Protection Act (Climate Act) has created the most aggressive climate change goals in the nation and requires an ambitious agenda that blends proven catalysts with innovative approaches while operating across a broader energy arena that is rapidly evolving. New York State Energy Research & Development Authority (NYSERDA) is a driving force in realizing this agenda. NYSERDA works with stakeholders that span residents, business owners, developers, community leaders, local government officials, universities, utilities, investors, entrepreneurs, and more, to develop, invest, and foster conditions that:

• Attract the private sector capital investment needed to expand New York's clean energy economy.
• Overcome barriers to using clean energy at a large-scale in New York.
• Enable New York's communities and residents to benefit equitably from energy efficiency and renewable energy.

NYGB is a globally recognized sustainable investment fund with the mission to accelerate clean energy and sustainable infrastructure deployment in New York State (“NYS” or the “State”). NYGB works to increase the size, volume, and breadth of sustainable infrastructure investment activity throughout the State, expand the base of investors focused on NYS clean energy opportunities, and increase market participants' access to capital on commercial terms. To achieve these objectives, NYGB collaborates with the private sector to develop transaction structures and methodologies that overcome typical clean energy investment barriers and serve as replicable models for other capital providers.

As of June 30, 2024, NYGB has invested more than $2.4 billion across a range of technologies including solar, wind, clean transportation, community distributed generation, energy storage, controlled environment agriculture, bioenergy, energy efficiency, electric vehicles, and others. NYGB's investment activities demonstrate that many of the financial market barriers to sustainable infrastructure projects in NYS are surmountable.

NYGB's teammates are mission-driven, solutions-oriented professionals with:

• Deep credit, risk, strategy, and operational expertise; and
• Extensive project finance experience with a technical edge in clean energy and sustainable infrastructure finance.

The team is committed to diversity, equity and inclusion and works with a wide range of clean energy market stakeholders with diverse interests and backgrounds – including through its effort to meet the goals of the Climate Act by investing in projects benefiting the State's disadvantaged communities.

NYGB seeks an experienced credit professional with excellent credit underwriting, organizational, relationship management, and communication skills to work with the NYGB team in the critical role of Vice President, Investment & Portfolio Management. This position will work with the Investment & Portfolio Management team, as well as with teams across NYGB and NYSERDA, to finance renewable energy and sustainable infrastructure transactions within NYGB's key focus areas. The position will lead transaction teams supporting the underwriting and execution of bilateral project finance loans in technologies that are aligned with the Climate Act as well as participations in certain syndicated facilities. This position will report to the Managing Director, Head of Investment & Portfolio Management.

The position will be located in New York City and may require approximately 10% travel.

• Lead transactions to allow NYGB to make project finance loans to developers, including origination, diligence, loan structuring, negotiation, execution, and portfolio management. Candidate will be expected to lead financial, legal, and technological diligence for these projects, evaluating and mitigating risks and presenting the transaction to the investment and risk committee at NYGB for approval. In more detail, candidate will be expected to:
  • Assess the feasibility and viability of lending opportunities with focus on predevelopment, construction, term, and mezzanine loans;
  • Review construction budgets, sponsor financial statements, and projected cash flows of the project to evaluate creditworthiness and feasibility;
  • Structure and negotiate business terms of loans to mitigate risk based on established underwriting guidelines and to maximize public benefit and mission;
  • Collaborate with internal teams, external lenders, developers, and legal counsel as necessary to structure loan agreements and negotiate terms with the counterparty;
  • Prepare comprehensive credit memos and investment summaries for internal review and approval by the NYGB investment and risk committee;
  • Coordinate the closing process by working with project sponsors, lenders, and other stakeholders such as public agencies and subsidy providers;
  • Monitor and manage existing loan portfolios, including tracking project performance, financial covenant compliance, and managing potential risks.
• Stay updated on industry trends, regulatory changes, and best practices related to renewable energy and project finance lending and update NYGB serving as a subject matter expert.
• Foster and manage relationships with project sponsors to solicit new business proposals that align with NYGB mission.
• Oversee the work of associates and analysts assigned to transactions. Ensure the completeness and quality of all client deliverables including screening, underwriting, and closing memos as well as financial underwriting models. Provide teaching and guidance to support staff to foster learning and collaboration.
• Ability to demonstrate respect, equity and inclusive behavior and practices of a diverse workforce and community.

• A Bachelor's degree with 5 years of experience in project finance lending with a demonstrated ability to underwrite loans, model project cash flows, negotiate loan documents, and execute transactions.
• Experience within the energy sector broadly, with a focus on renewable technologies preferred.
• Debt capital markets knowledge considered a plus.
• Understanding of transaction and client management, regulatory requirements, business due diligence, loan transaction documentation, and loan portfolio management.
• Strong verbal and written communication skills with the ability to articulate complex concepts and advocate accordingly.
• Unparalleled work ethic with the ability to perform under pressure and tight deadlines and a willingness to commit substantial time and energy to the success of NYGB's mission.
• Demonstrated ability to work independently and lead project team on complex financing transactions.
• An ability and desire to coach junior transactors.
• Possess a strong sense of professional judgment and ability to solve problems creatively.

• A Master's degree in business, finance, economics, or a related degree with 4 years of experience is a plus.

Please note that during the application process, you may be prompted to opt-in to Artificial Intelligence (“AI”) scoring. This is an automatic request in the ADP system but is not a feature that is used by NYSERDA in its recruiting and hiring process. Your response will have no impact on your application to NYSERDA.

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