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Project Finance (Renewables) Credit Risk 2nd Line of Defense (Corporate & Investment Banking)

Employer
Santander Holdings USA Inc
Location
New York, USA
Salary
Competitive
Closing date
May 16, 2024

View more

Job Function
Accounting/Audit/Tax
Industry Sector
Finance - General
Employment Type
Full Time
Education
Bachelors
Project Finance (Renewables) Credit Risk 2nd Line of Defense (Corporate & Investment Banking)
New York, United States of America

The individual is responsible for risk analysis and independent oversight of credit quality of Project Finance Lending and Renewables Tax Equity portfolio. S/he is responsible for all aspects of Project Finance credit quality including internal and regulatory compliance. Key focus will be on:
  • Project Finance (Renewables)
  • Tax Equity Renewable

The individual partners with the Front Office and Underwriting team. The role is responsible for establishing and maintaining the internal controls that effectively manage the risk related to the Project Finance lending and Tax Equity business. The individual will provide review and challenge of all new Project Finance and Tax Equity Business. The individual will have individual credit authority and seek to improve efficiency, and effectiveness of the unit.

Key skills required are as follows:
  • Experience in Renewable Energy financing with expertise in Wind, Solar, and Battery Energy Storage.
  • Strong understanding of Renewable Tax Equity structures and Inflation Reduction Act.
  • Experience in Liquefied Natural Gas Financing.
  • Experience in Capital Markets activities related to Project Finance included bond take-outs.

The candidate should be considered a Subject Matter Expert in Project Finances and Renewables, with a strong understanding of Tax Equity for Renewable and opportunities under the Inflation Reduction Act. The role will report to the Head of Project Finance Credit Risk and will sit within Structured Finance Credit Risk Team. The role will provide exposure to Fund Finance, Securitization, and Commercial Real Estate activities within the Structured Finance segment.

Job Function Description:
  • Ensures adherence to the policies and procedures for Project and Tax Equity Finance credit risk.
  • Represents 2LOD in all new CIB Project Finance and Tax Equity deal screenings, perform credit analysis to determine deal viability, and compliance with Project Finance credit underwriting standards.
  • Review and challenge on all new PF underwritings.
  • Manages and ensures compliance with all Project Finance policy, standard definitions and monitoring of policy, standard implementation, ensuring harmonization and consistency of risk policies.
  • Provides independent oversight of all aspects of credit quality of assigned portfolios, including the daily approval process of individual credits and the formal review process of the portfolio.
  • Identifies, manages, and reports on the company's risk areas.
  • Maintains up to date on all market developments, best practices, and trends within the broader Project Finance, Tax Equity, and Renewable segments.
  • Leads special risk projects and/or programs, business continuity and other incident response and security related activities supporting Project Finance industry best practices.

Essential Functions / Responsibility Statements:
  • Oversees and ensures consistent quality control, accuracy, and compliance with internal policies and regulatory requirements for reporting processes.
  • Ensures and executes ongoing maintenance of controls, mitigation plans, testing, and/o credit risk assessments.
  • Partners with the accountable business owner for effective 1st and 2nd line of defense Risk Management and Controls
  • Provides oversights on risk-management content/processes.
  • Provides oversights on risk-management content/processes followed by the 2nd line of defense.
  • Evaluates the adequacy and effectiveness of data, document retention, and monitors systems.
  • Acts as a subject matter expert (SME) while providing leadership, guidance, and mentorship.

Qualifications:

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Work Experience:

5-7 years; Risk Management, Credit Risk, Project Finance and Tax Equity Underwriting, or Internal Audit experience.

Skills and Abilities:
  • Strong MS Excel and PowerPoint skills required.
  • Bachelor's degree in accounting, business, statistics, finance, economics, or equivalent field
  • Ability to analyze risk and design efficient control practices to effectively manage risk.
  • Ability to multi-task, prioritize activities, manage conflicts of interest, delegate, and meet deadlines.
  • Advanced knowledge of the operational, accounting, credit, regulatory, market and technological risks within the various sectors of Project Finance, Tax Equity, and Financial Industry
  • Demonstrated credit analysis and underwriting skills for understanding / tracking underlying counter party performance.
  • Ability to evaluate counter party risk exposures.
  • Demonstrated knowledge of credit policies and procedures, regulations, and applicable law(s)
  • Demonstrated track record interacting with the regulators, external and internal audit.
  • Excellent written and verbal communication.
  • Strong presentation skills. Superior project management skills.
  • Ability to interact with all levels of management, work independently and in a team environment.


Diversity & EEO Statements: At Santander, we value and respect differences in our workforce and strive to increase the diversity of our teams. We actively encourage everyone to apply.

Santander is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, genetics, disability, age, veteran status or any other characteristic protected by law.

Working Conditions: Frequent Minimal physical effort such as sitting, standing and walking. Occasional moving and lifting equipment and furniture is required to support onsite and offsite meeting setup and teardown. Physically capable of lifting up to fifty pounds, able to bend, kneel, climb ladders.

Employer Rights: Employer Rights: This job description does not list all of the job duties of the job. You may be asked by your supervisors or managers to perform other duties. You may be evaluated in part based upon your performance of the tasks listed in this job description. The employer has the right to revise this job description at any time. This job description is not a contract for employment and either you or the employer may terminate at any time for any reason.

For NYC Job Applicants: The base annual salary range for this position is $118,764-$175,000. The exact compensation may vary based on skills, experience, training, licensure and certifications and location.
English

Primary Location: New York, NY, Madison Ave Corp

Other Locations: New York-New York

Organization: Banco Santander S.A.

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