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Project Finance (Renewables) Credit Risk 2nd Line of Defense (Corporate & Investment Banking) - New York New York
Company: Santander Holdings USA Inc Location: New York, New York
Posted On: 05/02/2024
Project Finance (Renewables) Credit Risk 2nd Line of Defense (Corporate & Investment Banking)New York, United States of AmericaThe 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 RenewableThe 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:
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