Website NY Green Bank

Location: New York, NY

Overview

NY Green Bank (“NYGB”) is a globally recognized $1.0 billion sustainable investment management fund with the mission to accelerate clean energy deployment in New York State (“NYS” or the “State”) by collaborating with the private sector to transform financing markets. 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 and increase market participants’ access to capital. To achieve these objectives, NYGB works collaboratively with other market participants and develops transaction structures and methodologies that overcome typical clean energy investment barriers. With more than $1.1 billion invested as of September 30, 2020, NYGB has demonstrated that many of the financial market barriers to sustainable infrastructure projects in NYS are surmountable. NYGB is a division of the New York State Energy Research & Development Authority (“NYSERDA”).

NYGB is seeking an experienced and highly motivated individual to be a senior member of the NY Green Bank team focusing on deploying NY Green Bank capital into transactions benefitting disadvantaged communities (“DACs”) to meet the State’s ambitious environmental justice goals under the Climate Leadership and Community Protection Act (“CLCPA”). TheMD-DACs role will be part of the Investment & Portfolio Management (“IPM”) team and the selected individual will be responsible for designing and executing programs that meet the unique needs of affordable housing and other DAC end-users in a manner consistent with NY GB’s investment criteria. The MD-DACs will originate transactions and will oversee investment teams conducting financial modeling, valuation analysis and due diligence with respect to underwriting, assessing risk and mitigants, structuring, negotiating, documenting, executing, and monitoring transactions. The MD-DACs will represent NY Green Bank in dialogues with environmental justice stakeholders and other interested external parties. The position will be located in New York City and may require approximately 10%-20% travel.

Primary Responsibilities

  • Lead NYGB’s strategic approach to investing in projects benefitting DACs, including designing/developing programmatic opportunities for deploying capital at scale in affordable housing for energy efficiency, renewable energy and storage, and building electrification; develop and structure partnerships as appropriate with housing finance agencies, affordable housing lenders and other stakeholders to gain traction and scale deployment of NYGB capital
  • Plan, drive and oversee the successful and efficient origination, analysis, structuring, negotiation, execution, and ongoing portfolio management of NYGB’s DAC-related investments, consistent with meeting NYGB’s business case and targets on an ongoing basis, through hands-on approach and leadership by example
  • Assess lending opportunities, evaluate risks and make DAC-specific credit recommendations
  • Work with business partners across the organization to identify, structure and manage NYGB investments in a manner that meets NYGB objectives and investment criteria, as well as delivers on business and strategic plans
  • As a member of the senior management team, participate and contribute to the development and implementation of organizational risk, operations and strategic initiatives
  • Oversee the evaluation of requests for new, expanded and/or existing financial products
  • Build and deepen relationships with corporate and institutional clients serving DACs and with key DACs stakeholders (e.g., affordable housing organizations, environmental justice advocates); communicate regularly with internal management, NYSERDA teams and external stakeholder groups
  • Manage business development activities, including in conjunction with NYGB’s Strategy, Impact & Investor Relations team
  • Prepare reports and presentations that assist in the investment decision making process, including credit and investment memoranda
  • Contribute to development of reporting frameworks to keep internal and external stakeholders apprised of progress toward DAC goals/commitments
  • Support organizational initiatives and activities with respect to NYGB regulators, public sources of capital and other stakeholders from time to time as needed (e.g., PSC, RGGI etc.)
  • Mentor and coach junior Investment & Portfolio Management team members
  • Supervise high-performance teams to drive projects forward and deliver projects on a deadline
  • Perform other responsibilities as needed

Minimum Qualifications

  • 15 years of demonstrated leadership in financing and developing affordable housing and/or other DAC-related projects – ideally, with an emphasis on energy efficiency, renewable energy and storage, and/or building electrification
  • Commitment to diversity, equity, and inclusion, and an ability to work with a wide range of stakeholders, with diverse interests and representing different backgrounds, in supporting disadvantaged communities throughout the state
  • Hands-on manager, highly organized and a “closer”
  • Understanding of transaction and client management, regulatory requirements, business due diligence, transaction documentation, and portfolio management
  • Knowledge and track record of structuring transactions across a variety of capital structures, preferably with an emphasis on credit products
  • Proven ability to manage multiple projects, provide complicated financial, commercial and credit analyses, and develop appropriate financial solutions
  • Management experience in establishing, building and growing organizations – including both externally and internally- focused activities
  • Proactive and flexible in identifying areas of organizational opportunity/development and introducing/implementing initiatives to capitalize thereon
  • Strong analytical and problem-solving skills
  • Ability to oversee the conduct of extensive financial and industry due diligence to evaluate the risk/return parameters of a project, identify and conduct relevant sensitivity analyses
  • 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
  • Adaptable, self-starter capable of working under limited supervision, as well as taking on new and unfamiliar tasks as needed while working effectively in a dynamic, fluid and fast-paced organization
  • Ability and desire to coach junior transactors
  • Bachelor’s degree; Master’s degree is a plus

To apply for this job please visit greenbank.ny.gov.