Project Finance Portfolio Management Associate
This position is with RER Solutions, Inc. (RER), as contractor to the Overseas Private Investment Corporation (OPIC). OPIC is the U.S. Government’s development finance institution. It mobilizes private capital to help address critical development challenges and in doing so, advances U.S. foreign policy and national security priorities.
The Portfolio Associate (Associate) will have the responsibility to assist in financial analysis and portfolio related research to support OPIC’s Portfolio Management Division and Framework Management Division (PMD/FMD) in servicing OPIC’s Direct Investment Loan Portfolio, particularly in the areas of loan monitoring and asset management.
The Associate will provide comprehensive monitoring reports on portfolio loan performance of approved projects to the appropriate federal and project finance authorities. The Associate must identify issues of contemporary and future impacts on the work and conduct analysis of their implications and alternatives, and must monitor the portfolio, individual projects, and/or guarantors for warning signs of credit deterioration.
Major Duties and Responsibilities:
Supports the Director and PMD/FMD staff by executing a portfolio risk management process that assists in identifying, managing, monitoring, and reducing risks in the portfolio, while being cognizant of the need to respond promptly to post-issue requests from borrowers, sponsors, and lenders;
Supports the Director and PMD/FMD staff by establishing Asset Monitoring and Supervision work-flow processes and schedules to accomplish assigned projects, plans, and activities associated with approved office missions and functions, including development of project specific Credit Monitoring Plans;
Supports the Director and PMD/FMD staff by monitoring sector developments pertinent to the borrower’s operating environment, i.e., price and demand movements, legal and regulatory changes, and structured changes within the sector. Presents analyses through a variety of means, including formal written studies and oral presentations. Independently functions as a project transaction negotiator/re-negotiator throughout occurrences of debt restructuring;
Represents the office, as needed or requested, at interagency meetings, inter-creditor discussions, steering committees of creditors, and public conferences; serves as an authority on the portfolio management policies and issues, and based on the Director of PMD/FMD’s needs, interfaces with and obtains information from a variety of sources across the industry as well as other organizations to support the office’s activities;
Provides in-depth analyses for structuring, updating, and maintaining the Credit Monitoring Plans. Reviews project financial statements, progress and engineering reports, covenant compliance certificates, collateral reports, and information gathered from news reports and site visits. Reviews, manages and responds to post-closure requests from borrowers and lenders for amendments to loan terms, waivers, extensions, payment deferments, and other modifications related to operative loans and guarantees;
Prepares or collaborates with other senior staff in the preparation of comprehensive position papers, memorandums, and/or briefing materials across all phases of operations for use with senior management;
Supports the Director and PMD/FMD staff by reviewing project and legal documents, including but not limited to: Credit Committee memos; financing documents, including Credit Agreement, Security Agreement, Independent Engineering Report, project documents, including the Engineering Procurement, and Construction, Off-take, Supply, and Operations and Maintenance Agreements, and negotiates new terms with borrowers or other creditors in the event of a default;
Prepares a Transfer Memo to the Special Assets Group when there is a question regarding the status of any borrower or where it has been determined that liquidation is the only course of action available to ensure maximization of taxpayer funds;
Supports the Director and PMD/FMD staff by leading and mobilizing project teams to address the technical, legal-economic, and financial feasibility aspects of a transaction and to ensure compliance with OPIC procedures, goals, and milestones;
Prepares regular credit reports for specific projects that adhere to the guidelines as set forth by the Director of PMD/FMD;
Ensures all data for assigned projects is entering promptly in OPIC’s systems and ensures this data is always up to date and accurate;
Other duties as assigned.
Communicates clearly, courteously and effectively with RER and OPIC staff, and external parties;
Possesses strong Excel, Access and Word skills;
Possesses expert skill in oral and written communications needed to complete correspondence and reports, as well as to make presentations and explain financial models to a variety of audiences;
Possesses a high degree of pride and attention to detail with work product;
Is well organized with the ability to properly prioritize and is adept at time management;
Possesses the skills and abilities necessary to ensure effective compliance monitoring and reporting according to the terms contained in Credit Agreements and for overall portfolio risk management;
Is masterful in applying analytical methods and evaluation techniques to a broad range of functional areas such as project and corporate risk assessment, accounting and corporate finance to evaluate the viability of a loan transaction;
Is knowledgeable of the range of financial, market, credit, and technical risks inherent in the distinct energy technologies (e.g., nuclear, fossil, renewable), as well as appropriate mitigation approaches available or desirable;
Possesses analytical skills and expert knowledge in diverse corporate finance structures such as asset based, limited or full recourse project finance transactions to make sound financial decisions and recommendations;
Is knowledgeable of the techniques and processes required to restructure problem loans and provide a financial pathway to recovery;
Has senior-level knowledge of the composition of the loan portfolios, average risk rating of the portfolios, and various segments and sub-segments, and other aggregate characteristics;
Is knowledgeable of the policies, processes, and practices available for the effective control of individual loan transaction and sector risks, as well as overall portfolio risk;
Trains new staff on procedures as necessary.
Familiarity with credit underwriting and financial statement analysis of project finance and other transactions;
Familiarity with development finance institutions;
Familiarity with financial modeling;
Must have a minimum of 3 years’ experience;
Must have BA/BS, MBA preferred;
Must be a U.S. Citizen
RER is an equal opportunity employer and will not discriminate against any employee or applicant on the basis of age, color, disability, gender, national origin, race, religion, sexual orientation, veteran status, or any classification protected by federal, state, or local law.