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Commercial Portfolio Manager - Renewable Energy in Cleveland at Huntington

Date Posted: 5/7/2018

Job Snapshot

Job Description

The Portfolio Manager (PM) is responsible for underwriting, approving, monitoring, and reporting on the engineering and operational design and performance of the renewable energy projects financed by Huntington National Bank (HNB)'s Renewable Energy Finance (REF) group. In addition, the PM oversees the collateral agency function and reviews and authorizes the periodic payment waterfall distributions of the renewable energy projects. The PM engages in post-closing operational and contractual activities and is responsible for safeguarding the operational and financial performance of the renewable energy projects financed by HNB within the design and contract limits of each project.

Detailed knowledge of renewable energy projects design, functioning, and operations & maintenance (O&M) and a strong understanding of renewable energy project finance is required.

 Responsibilities

Underwriting

  • Review and approve renewable energy projects pre-construction:
    • Project design
    • Equipment selection
    • Engineering
    • Construction contract and contractor(s)
    • O&M contract and contractor(s)
    • Financial pro-forma and underlying assumptions

Review and approve all the above prior to financial closing based on project as-built

  • Review and approve construction finance
    • Construction loan terms and conditions
    • Construction loan draw requests
  • Review and approve sponsor/developer based on experience and track record related to:Historical project performance (actual vs. projected)
    • Project development
    • Construction (oversight)
    • Asset Management capabilities
      • Monitoring, reporting, and managing of project performance
      • Monitoring, billing, collecting of revenues
  • Support REF analysis and decision making on new markets, technologies, and equipment vendors

 Monitoring, Reporting, and Portfolio Management

  • Review, analyze, and report on renewable energy projects' operational and financial performance (actual vs. projected)
  • Ability to differentiate and explain various causes of project performance issues
  • Interact with sponsor/developer on O&M of renewable energy projects, ensure compliance with project contracts related to O&M, develop solutions acceptable to HNB for unexpected events, review and approve sponsor/developer requests for use of project level cash reserves
  • Review and approve replacement project contracts (e.g. O&M, insurance) during the term of the financing

 Collateral Agency

  • Review and approve sponsor/developer's periodic payment waterfall distributions per the terms of the underlying contracts
  • Track and forecast financial performance of renewable energy projects and pro-actively engage developer/sponsors early in case of projected cash shortfalls

 Ownership Management

  • Facilitate purchase and sale of participation interests by HNB; interact with buyers' and sellers' internal renewable energy department and develop and maintain mutually beneficial relationships
  • Facilitate purchase and sale of sponsor/developer ownership; interact with buyers' and sellers' to review and approve ownership transfers while maintaining or improving HNB's risk/reward equation

 Policies and Procedures

  • Develop HNB REF policies and procedures for all the above, identify and address any gaps based on industry best practice experience
  • Create HNB internal understanding and support for the operational aspects of renewable energy financing and REF policies
  • Ensure compliance with policies while maintaining a 'constant improvement' mentality and implement improvements to policies as identified

 Qualifications

Required Qualifications

  • Bachelor's degree or equivalent
  • Minimum of ten (10) years' experience underwriting and documenting complex and/or syndicated commercial loans

Preferred Qualifications

  • Five years' experience renewable energy project operations and or asset management
  • Renewable energy project finance experience (experience working for a financial institution preferred)
  • Strong analytical and reporting skills
  • Strong organizational and leadership skills
  • Excellent interpersonal, verbal, and written communication skills, advanced skills in Microsoft Excel
  • Ability to travel as needed

EEO/AA Employer/Minority/Female/Disability/Veteran/Sexual Orientation/Gender Identity Tobacco-Free Hiring Practice: Visit Huntington's Career Web Site for more details. Huntington does not accept solicitation from Third Party Recruiters for any position.
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