Summary: The client is the leading developer, owner, and operator of Commercial & Industrial solar projects in the Washington DC area. The Company's mission is to make solar a reality for our entire community. The client specializes in developing, financing, and operating solar energy systems within the built environment. The company designs and delivers comprehensive procurement and solar investment solutions for businesses, municipalities, and institutions empowering them to achieve their sustainability goals and positively impact their community.
The client is looking for a Director of Asset Management to lead the management of our growing fleet of operating solar projects and serve as a key member of the Company's leadership group. This role will report to the Executive Leadership Team and will be responsible for leading all aspects of the Company's asset management practices. Specifically, the Director of Asset Management will be responsible for managing a team of asset management and O&M personnel and implementing the Company's processes and strategies to ensure smooth asset performance. To be successful, a candidate should have a strong working knowledge of commercial solar, project finance, solar asset operations, and investor relations. An outstanding candidate should also possess strong Excel skills, be detail-oriented, highly organized, and able to work with little to no supervision and perform under pressure.
Job Duties and Responsibilities:
- Manage all financial, contractual, commercial, and reporting obligations of 10+ tax-equity portfolios made up of C&I systems and some residential systems
- Regularly communicate directly with lenders, tax equity investors, and other key stakeholders
- Oversee Asset Management and Operations and Maintenance P&L including AP/AR, cash management, budgeting, and distributions to equity
- Manage Operations and Maintenance personnel providing guidance on process development, budgeting, spare parts strategy, and task prioritization
- Manage relationship with key stakeholders and serve the point of contact for solar project customers and landlords
- Oversee administration of SREC transaction in conjunction with the client's 3rd party SREC manager, ensuring timely receipt of SREC revenues
- Execute payment of operating expenses incurred by assets
- Prepare quarterly reporting for financing partners, including distribution waterfalls for investors and debt service reporting for lenders
- Review financial statements for accuracy and assist with the provision of information required to complete reporting
- Assist with the preparation of income tax returns for all partnerships
- Assist with the preparation of annual financial audits for tax equity partnerships, in conjunction with the in-house accounting team
- Manage third party accountants to deliver accurate and timely financial information
- Ensure timely and accurate registration and settlement of SRECs
- Determine when to sell SRECs and when to enter into new SREC hedges to optimize returns
- Actively monitor performance, weather, and operational data from operating project with the assistance of a dedicated engineering resource; recommend solutions for optimizing performance
- Negotiate Asset Management and Operations and Maintenance Services Agreements
- Serve as internal resource for operational questions and concerns
Minimum Qualifications:
- Bachelor's degree in Accounting or Finance or similar field
- 5-10 years of project finance, asset management, or asset operations experience
- Strong understanding of solar technology and solar project financing
- Working knowledge of commercial solar asset operations
- Understanding of cash and accrual and multi-entity accounting
- Strong understanding of SREC hedging and settlements
- Proficiency in Microsoft Office, particularly with Excel
- Strong financial analysis skills
- Strong business and personnel management skills
- Strong organizational and stress management skills
- Ability to train and manage staff
- Ability to work with little to no supervision
- Full-time availability
- Vaccinated and boosted for COVID-19
- Must be able to legally work in the U.S.
Preferred Experience:
- Proven understanding of U.S. GAAP
- Demonstrated experience in business management at an executive level
- Experience implementing systems including accounting systems, ERPs, and work order management tools
- Experience with asset performance analytics
- Experience working on net-energy-metered and community solar systems
Benefits:
- 401k Plan With 3% Employer Contribution
- Flexible Leave Policy
- Choice of Medical Plans, Dental, and Vision
- Company Paid Short Term Disability
- Company Paid Long Term Disability
- Company Paid Life & AD&D Insurance
- Voluntary Life Insurance
- Professional Growth and Development Budget
