Clean Energy Finance – Analyst, Portfolio Management

Citi • New York, NY

6d • Onsite

About The Position

Citi’s Clean Energy Finance (CEF) team is seeking a candidate to join the origination desk’s in-business portfolio management team to support its tax equity and tax credit transfer mandates. The Clean Energy Finance (“CEF”) Group provides comprehensive and customized solutions, including Hybrid Tax Equity Financing, to Citi’s clients in the clean energy and energy efficiency sectors. CEF has extensive expertise in originating, structuring, and executing financings for various renewable energy & sustainable technologies, including: Onshore and Offshore Wind (Utility Scale), Solar Power (Utility Scale PV, Distributed PV, Residential Rooftop PV, CSP and Thermal), Battery Storage, Nuclear, Biofuels, Waste-to-Energy, Geothermal, Biomass, Fuel Cells, Hydrogen, Energy Efficiency, and Other Emerging Technologies. CEF also helps Citi’s clients raise capital by monetizing their clean energy tax credits via Tax Credit Transfers and helps corporate clients optimize their tax liabilities through the purchase of these tax credits. CEF seeks to hire a full-time Portfolio Management Analyst to assist in overseeing and tracking the CEF portfolio of renewable energy loans, leases, warehouse facilities, and tax equity positions that CEF holds and manages on Citi’s balance sheet. The new hire will be directly part of the in-business portfolio management team, working closely with the Group Head and other CEF team members, and aligned closely with a variety of stakeholders across Citi (Banking, Legal, Risk, Accounting Policy, Finance, Group Tax, Technology, etc.). The CEF portfolio includes tax equity investments in utility scale wind and solar projects, tax equity investments in pools of Distributed Generation or Residential Rooftop solar PV systems, and related debt facilities/loans.

Requirements

• 1 to 3 years of relevant experience working with Energy / Tax Equity investments
• Understands PTC and ITC Federal tax incentive programs
• Understands HLBV accounting as well as partnership and lease structures
• Great attention to detail
• Ability to work independently and cohesively within a team

Nice To Haves

• Prior knowledge of partnership and tax accounting
• Experience with tax equity models

Responsibilities

• Transaction model maintenance and updates, transaction monitoring (including tax benefits recognition, yields, and returns), performance tracking, P&L tracking (based on HLBV accounting), updating and monitoring expected flip dates, interaction with financial controllers, coordination of amendments, consents and waivers, interaction with client asset management, deal counsel re-negotiating terms arising post-close, collecting and reviewing tax filings, coordinating responses for IRS audits, and other matters post-close.
• Overseeing ongoing payments to third parties, including counsel, auditors, consultants, and other parties.
• Monitoring overall portfolio metrics and performance, tracking and forecasting portfolio level P&L, preparing monthly and quarterly portfolio reports, tracking compliance with portfolio limits, evaluating positions for potential sale or modification, preparing forecasts of P&L, tax credits and GAAP balances for internal control functions and senior management, and other portfolio optimization operations.
• Assist with regulatory and enterprise level reporting, league table reporting, compliance with firm sustainability goals, legal entity management, SPE validations, and assist with regulatory reviews.
• Tracking accounts receivable, delinquencies, loss rates; assisting with asset sales, sell-downs, work outs, and other restructurctions.
• Generally identifying existing and potential problems; then mitigating the risks.
• Assisting Independent Risk (second line of defense) with preparation of risk analysis, impairment reviews, and other periodic reviews.
• Assisting Head Portfolio Manager and Group Head in responding to audit and information requests from third line of defense and bank regulators.
• Assisting with transaction execution, booking, and other activities pre-close and again at funding.
• Partnering closely with CEF transaction execution teams, financial controllers, tax department, Citi Risk Management teams, outside consultants and engineers to manage consent/waiver and other ad-hoc requests from client/sponsors asset managers, skillfully balancing the needs of the client and Citi’s risk appetite.

Benefits

• medical, dental & vision coverage
• 401(k)
• life, accident, and disability insurance
• wellness programs
• paid time off packages, including planned time off (vacation), unplanned time off (sick leave), and paid holidays

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Education Level: No Education Listed