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27 Feb 2024

Full-Time Senior Loan Officer (Senior Director), Clean Energy and Sustainable Finance

Reinvestment Fund – Posted by Mganezer Anywhere

Job Description

About Reinvestment Fund

At Reinvestment Fund, we are dedicated to making a tangible difference in the lives of underserved individuals and communities. Our mission is to create opportunity for underserved people and places through partnerships. We marshal the capital, analytics, and expertise necessary to build strong, healthy, and more equitable communities.

As a federally certified community development financial institution (CDFI), our job is to make finance an agent of positive change and equitable growth. We provide loans, grants and technical assistance to businesses and nonprofits. Our borrowers and grantees educate students, support local economies, and create jobs. They build affordable housing and provide community goods and services that include access to nutritious food, hunger relief, physical and mental health care, and other social services.

Clean Energy

Reinvestment Fund is committed to environmental justice and ensuring that the most vulnerable in the communities we serve benefit not only from clean energy investments in their communities but also directly from reduced energy burdens and clean, safe and resilient homes and facilities. Reinvestment Fund began financing clean energy projects in 1993 and has provided over $350 million to a wide range of projects, from wind and solar [energy generation] to energy efficient building components to small-scale distributed-generation projects.

Our clean energy financing currently fits in two project types:

  • Contract Financing – We finance Energy Savings Agreements, Power Purchase Agreements, and portfolios of consumer-scale clean energy projects. These projects tend to be complex, highly structured transactions that are relatively modest in size, with most between $1 million and $5 million. Serving this otherwise underserved “middle market” is a critical component of Reinvestment Fund’s mission attachment to the clean energy space.
  • Community Facility Financing – We provide financing for energy efficiency and other resilience measures of community facilities (health care, schools, nonprofit spaces) and affordable multi-family and scaled for-sale housing projects in the low-income communities we serve.

With pending capital flows from the Inflation Reduction Act, Greenhouse Gas Emissions Reduction Fund, Infrastructure Bill, and other existing and changing federal, state, and utility energy incentive programs and resources, this position is expected to take a leadership role in shaping Reinvestment Fund’s new business strategies in the clean energy space including formation of new partnerships and products that result in more affordable capital directed to eligible projects benefitting residents of disadvantaged communities.

Who We Are Looking For

The Senior Director, Clean Energy and Sustainable Finance will be a dynamic entrepreneur owning all aspects of the business of clean energy lending from relationship development, transaction sourcing, structuring, underwriting and credit approval, to closing. The Senior Director will collaborate with Reinvestment Fund lenders to structure and underwrite real estate and business loans that create energy savings and efficiencies applying clean energy current and future capital sources. At the same time, this individual will help build Reinvestment Fund’s visibility in the clean energy space, participating in conferences, finance and policy working groups, and other public-facing endeavors.

In addition, the Senior Director should have a demonstrated commitment to the breadth of Reinvestment Fund’s mission – which includes creation of opportunities for individuals in low-income communities and a commitment to advancing racial equity.  This role will report to the Managing Director, National Lending, and will be part of a team of lenders that lead specific lending program with a national outlook.

Job Description

The Senior Director, Clean Energy and Sustainable Finance will lead the growth of Reinvestment Fund’s clean energy lending portfolio to align with Reinvestment Fund’s mission and strategic plan priorities. This work will include:

  • Business Origination: Foster new relationships with project sponsors, typically for-profit clean energy companies, non-profit developers and owners of community facilities in disadvantaged communities, and to meet annual origination and impact targets. Senior Director will be a social entrepreneur, staying on top of industry trends to develop new and innovative financing structures that deliver financing solutions in support of environmental justice. This may include attending industry conferences, joining industry groups, and participating in thought leadership via writing and speaking on Reinvestment Fund’s behalf.
  • Transaction Underwriting and Structuring: Perform credit analysis and develop transaction structures that appropriately mitigate risk. The position will be focused on assessing mission-alignment, financial credit risk, and understanding the technical aspects of projects (with support from existing staff at Reinvestment Fund and external consultants for detailed assessment of the clean energy project’s potential for energy savings, etc.)  The position will also lead the documentation and closing of transactions, working with outside counsel. Senior Director will stay updated on industry trends, regulatory changes, and best practices related to energy lending in real estate and business transactions.
  • Capital Source Management: Working with colleagues across Reinvestment Fund, Senior Director will oversee outreach, eligibility requirements, regulatory compliance, periodic reporting and deployment strategies with regard to multiple sources of dedicated energy financing capital, in Pennsylvania and beyond. The candidate will lead meetings and discussions with grantors, investors and other stakeholders.
  • Sector Leadership: Build on the expertise and industry knowledge gained from working on projects and financings to develop new lending products that are responsive to market needs, maintain solid industry driven credit practices and better integrate clean-energy considerations into other lending areas.

Education and Experience

REQUIRED

  • Undergraduate degree in finance, economics, city planning or other related fields preferred but not required. Equivalent non-academic experience may also be considered if that experience is in the industries to which we lend.
  • 7 years of experience in finance with a demonstrated ability to underwrite real estate, business operations and contract-backed loans, model project cash flows, negotiate loan documents, and execute transactions.
  • An understanding of common clean energy-related financing concepts, terminology, and contract structures like Energy Savings Agreements and Power Purchase Agreements as well as regulatory and incentive programs like RECs and Solar Investment Tax Credits is required.
  • An understanding of corporate financial analysis, and the appropriate roles for debt, equity, and project finance on corporate balance sheets.
  • Experience in business development, particularly negotiating sales of complex financing products to sophisticated customers, originating new loans, building new lending relationships and partnerships.
  • Demonstrated experience negotiating and structuring loans, facilities, new products or programs with other financial organizations or loan participants.
  • Excellent written communication skills.

PREFERRED

  • Background (education and/or experience) in clean energy project development preferred.
  • Experience with community facilities, mixed-use buildings, or multifamily housing, with emphasis on energy efficiency, building electrification and renewables within disadvantaged communities, a plus.
  • Experience in green financing and lending in the climate-mitigation sector, including financing decarbonization retrofits of existing buildings and electrified new construction, preferred but not required.
  • Network of contacts in the clean-energy sector (financing organizations, developers, contractors, policy experts, etc.), preferred.
  • Prior experience with grant-making for clean energy or energy-efficiency projects is a plus.
  • Familiarity with the Inflation Reduction Act, Greenhouse Gas Emissions Reduction Fund, Infrastructure Bill, and other federal, state, and utility energy incentive programs is a significant plus.

Work Location

Reinvestment Fund provides a flexible work arrangement that is a hybrid home/office work arrangement or fully remote. A more flexible work schedule or fully remote will be considered for this role, ideally to be based in the eastern time zone. Episodic travel will be required to Reinvestment Fund’s Philadelphia, PA, headquarters, and to prospective or current borrowers, projects and conferences (approximately 20%).

Compensation and Benefits

Reinvestment Fund offers a competitive salary based on experience and skills, as well as an excellent benefits package including employer-paid health, disability and life insurance, 401(k) retirement savings plan with employer match, flexible spending accounts (medical, dependent care), commuter benefits, tuition reimbursement, paid time off, and EAP program.

Reinvestment Fund uses E-Verify to validate all new hires’ ability to legally work in the United States. Reinvestment Fund is an Equal Opportunity Employer. Reinvestment Fund does not discriminate in hiring or employment practices on the basis of race, color, religion, gender, age, sexual orientation, marital or familial status, national origin, non-job-related disabilities, or veteran status.

Reinvestment Fund, Inc. has an affiliate, RF Impact Advisers, Inc. (“RFIA”) that is a state-registered investment adviser. To advance compliance with and prevent violations of federal and state securities laws and to avoid even the appearance of a conflict of interest, RFIA has adopted a Code of Ethics to govern certain conduct of its staff, including certain staff of Reinvestment Fund because Reinvestment Fund is an advisory affiliate of RFIA. As part of this Code of Ethics, there are specific personal reporting and other requirements and disclosures of personal financial and/or securities transactions information. For certain individuals, this reporting will extend to your household members. You may be subject to a background check.

How to Apply

Visit our careers page to apply here > Careers — Reinvestment

Job Categories: Clean Energy. Job Types: Full-Time. Salaries: 100,000 and above.

Job expires in 6 days.

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