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The Underwriting and Portfolio Management organization is responsible for working with internal partners to underwrite new transactions and manage the existing portfolio of tax equity transactions. Our Underwriters and Portfolio Managers balance supporting the Commercial’s Bank’s growth and ensuring we have a scalable, well-managed business. This role supports the Renewable Energy, Underwriting and Portfolio Management team. The Line of Business is focused primarily on Tax Equity transactions in the Renewables sector including wind, solar, storage and other forms of renewable investment. As a Lead Underwriter & Portfolio Manager, you are considered a deep subject matter expert in credit risk management for a specific line of business. In addition to performing your responsibilities autonomously, you may play a leadership role across deal teams by guiding or shaping less experienced associates. You are trusted to complete complex transactions or solve more unique problems because of your experience and job specific skills.
Job Responsibility:
Lead and compile due diligence to draw conclusions on material current and future risks and mitigates
identify performance drivers, project future performance, and anticipate ability to repay debt
apply industry research across transactions and share key takeaways across the organization
Lead all aspects of tax equity transaction execution efforts including structuring, diligence, approvals, document negotiations and oversight of junior members, providing feedback, and coaching
Leverage deep expertise in industry trends and market analysis to present findings and potential opportunities to senior management with ease
Anticipate questions that will be raised during deal review and approval meetings
Assist and develop procedures to ensure less experienced team members understand financial statement analysis and cash flow analysis
Review financial models independently and incorporate complex structures or nuances
Propose appropriate structuring options in tandem with deal team
Interpret pricing model outputs in context of business return hurdles and consider areas for increasing returns
Write and prepare all parts of the credit approval document independently
identify need for supplemental analysis and discussion
review work of less experienced members of the team
Oversee closing process requirements
review closing memo
Lead documentation process and negotiate provisions of term sheets, commitment letters, and fee letters with internal and external counsel as well as clients
Independently lead all aspects of process for complex deals, including special circumstances, higher approval requirements, and setting overall expectations
Manage most complex or highest risk portfolio of accounts independently including amendments, refinancing, and recaps
review portfolios of less experienced team members
review and monitor health of portfolio accounts, drive customer retention and performance against expectations
Proactively anticipate issues, draw parallels from other accounts to own account
resolve problem accounts in partnership with other teams and specialists
Review and approve annual reviews and both material and non-material modifications
Facilitate and leads quarterly portfolio reviews
prepare watch and criticized reports for quarterly meetings & annual reviews
Review past due reporting, covenants, and payments and remediate with the appropriate party
Ensure portfolio data is accurate, timely, and complete to ensure strong quality and reporting capabilities
Build relationships across function and business to foster collaboration between partner groups
Interact directly with customers to cultivate strong relationships while balancing risk and return
Consult with legal or Special Assets Department
Mentor and train rotational analysts and new hires
Participate in internal initiatives to ensure the business is well-managed and operates efficiently
Ensure compliance with credit policies and procedures
Requirements:
Bachelor’s Degree or Military Experience
At least 5 years of experience in tax equity transaction underwriting and execution
At least 7 years of experience in tax equity, credit, portfolio management, or asset management
Nice to have:
Master’s Degree in Business Accounting, Finance, or other relevant fields
At least 10+ years of experience in credit underwriting or portfolio management or asset management
At least 3+ years of previous leadership experience with deal teams or analysts
What we offer:
comprehensive, competitive, and inclusive set of health, financial and other benefits that support your total well-being
performance based incentive compensation, which may include cash bonus(es) and/or long term incentives (LTI)