Position: Portfolio Manager
Sol Systems is seeking a full-time Portfolio Manager to lead its Solar Renewable Energy Credit (SREC) business. The right candidate lives in, or would relocate to, the Washington DC area to join our growing team of solar finance professionals. This is a mid-level position that will include a combination of business development, SREC trading, financial analysis, and market policy research. This is an opportunity to become an expert in the supply and demand dynamics of U.S. solar markets, to develop and execute portfolio strategies, and to grow the company’s REC trading business through portfolio acquisition and new business generation. The Portfolio Manager will work directly with the CFO, and will be expected to hire and manage other members of the SREC trading team.
Company: Sol Systems is a boutique financial services firm that offers investor clients direct access to the renewable energy asset class and provides developers with sophisticated project financing solutions. Founded in 2008, Sol Systems focuses on meeting the most critical needs of the industry, including SREC monetization, capital placement, tax equity, and New Market Tax Credits. To date, the company has arranged financing for thousands of projects and facilitated hundreds of millions in investment on behalf of Fortune 100 companies, private equity, family offices and individuals.
Sol Systems is also the oldest and largest SREC market maker and financier in the country, managing a portfolio of nearly 40 megawatts of solar capacity on behalf of 3500 customers (one of the largest portfolios in the country). The SREC portfolio team actively trades SRECs on the open market, and executes long-term trading positions in the main SREC markets of DC, MD, MA, NJ, DE, OH, and PA.
Duties and Responsibilities:
To include but not limited to:
– Leading the expansion of Sol Systems’ SREC business by taking on a business development leadership role. This will include seeking new clients to whom the SREC portfolio team will offer SREC Management Services, and managing and growing relationships with existing clients
– Trading SRECs in the open market and negotiating long term agreements to purchase or sell SRECs
– Managing the purchase and sale of SRECs, including building relationships with compliance buyers, brokers, and other counterparties
- Will involve executing contracts, SREC tracking, managing payment for and from SREC transactions, and monthly reconciliation of all transactions
– Working with complex models, specific to the SREC markets, risk analysis, and general reporting
– Staying abreast of legislative developments, and writing monthly market commentaries and quarterly webinars as well as ad hoc presentations on SREC markets
– Setting Sol Systems’ standard pricing and the SREC acquisition strategy for the portfolio
– Interfacing with Sol Systems’ project finance team to provide project pricing indications and advise on portfolio appetite
– Self-starter, ready to think critically about the expansion of our SREC business and has the initiative to execute
– Ability to operate effectively and with a good deal of autonomy in a new, growing, and quickly changing industry
– A solid understanding of the U.S. solar markets. Preference will be given to candidates who are knowledgeable about SREC markets
– Familiarity with portfolio risk management and best execution strategies
– Negotiation skills
– Sales and client management skills
– Proficient in Microsoft suite, especially Microsoft Excel and preferably Microsoft Access
– Intense Attention to detail
– Strong oral and written command of the English language
– Ability to motivate teammates, as well as give constructive criticism to develop junior staff.
– At least two years of experience in renewable energy, or 3+ years of experience in the energy industry
– At least two years of trading experience
– Demonstrated ability to manage client relationships
– At least one year of experience managing entry-level professionals
– Excel modeling of both portfolio risk and portfolio sale strategies
– Working with and understanding relational databases
– Architecting and building complex financial models in both Excel and Access
Location & Hours: Our office is located one block from Dupont Circle at 1785 Massachusetts Avenue NW, Washington DC. Our business hours are 9:30am to 6:30pm.
Commitment and Compensation: This is a full-time position (45 hours per week). Applications will be accepted on a rolling basis until the position is filled, with a target start date of September 15th, 2013. Compensation will be commensurate with experience, in the range of $55,000-$75,000 annually. Benefits include health insurance, 401(k) options, compensated personal days, gym benefits, Monday lunches and Friday happy hours.
To Apply: Please submit the following to firstname.lastname@example.org:
- Cover letter, to include start date and salary expectations
- Short writing sample