Director, Clean Energy & Sustainable Finance Lending

Clean Energy

Reinvestment Fund is committed to environmental justice and ensuring that the most vulnerable in the communities we serve benefit not only from clean energy investments in their communities but also directly from reduced energy burdens and clean, safe and resilient homes and facilities. Reinvestment Fund began financing clean energy projects in 1993 and has provided over $350 million to a wide range of projects, from wind and solar [energy generation] to energy efficient building components to small-scale distributed-generation projects.

Our clean energy financing currently fits in two project types:

• Contract Financing – We finance Energy Savings Agreements, Power Purchase Agreements, and portfolios of consumer-scale clean energy projects. These projects tend to be complex, highly structured transactions that are relatively modest in size, with most between $1 million and $5 million. Serving this otherwise underserved “middle market” is a critical component of Reinvestment Fund’s mission attachment to the clean energy space.
• Community Facility Financing – We provide financing for energy efficiency and other resilience measures of community facilities (health care, schools, nonprofit spaces) and affordable multi-family and scaled for-sale housing projects in the low-income communities we serve.

With pending capital flows from the Inflation Reduction Act, Greenhouse Gas Emissions Reduction Fund (GGRF), Infrastructure Bill, and other existing and changing federal, state, and utility energy incentive programs and resources, this position is expected to work with Lending and Investments leadership to inform new business strategies in the clean energy space that result in more affordable capital directed to eligible projects benefitting residents of disadvantaged communities.

Who We Are Looking For

The Director, Clean Energy and Sustainable Finance will be an energetic and integral part of the Originations team, serving as primary contact for all aspects of Reinvestment Fund’s business of clean energy lending from transaction sourcing, structuring, underwriting and credit approval, to closing. The Director will collaborate with Reinvestment Fund lenders to structure and underwrite real estate and business loans that create energy savings and efficiencies applying clean energy capital sources- current and future.

In addition, the Director will have a demonstrated commitment to the breadth of Reinvestment Fund’s mission – which includes creation of opportunities for individuals in low-income communities and a commitment to advancing racial equity. This individual will be responsible for a target volume of annual originations on energy efficiency and renewable energy projects. This role will report to the Managing Director, National Lending, and will be part of a team of lenders that lead specific lending programs with a national outlook.

Job Description

The Director, Clean Energy and Sustainable Finance, will lead the growth of Reinvestment Fund’s clean energy lending portfolio to align with Reinvestment Fund’s mission and strategic plan priorities. This work will include:

• Business Origination: Work with other members of Originations team to foster new relationships with project sponsors, typically for-profit clean energy companies, non-profit developers and owners of community facilities in disadvantaged communities, and to meet annual origination and impact targets. Director will stay on top of industry trends in innovative financing structures and solutions in support of environmental justice. Work with President, Lending & Investments and Managing Director, National Lending to develop and scale a sustainable, impactful climate lending strategy, (in connection with new funds under GGRF) and develop standardized loan products.
• Transaction Underwriting and Structuring: Perform credit analysis and work with Managing Director, National Lending and Managing Director, Structured Finance to develop transaction structures that appropriately mitigate risk. The position will be focused on assessing mission-alignment, financial credit risk, and understanding the technical aspects of projects (with support from existing staff at Reinvestment Fund and external consultants for detailed assessment of a project’ energy savings, etc.) The position will also lead the documentation and closing of transactions, working with outside counsel. The Director will stay updated on regulatory changes, and best practices related to energy lending in real estate and business transactions.
• Capital Source Management: Working with colleagues across Reinvestment Fund, Director will oversee outreach, eligibility requirements, regulatory compliance, periodic reporting, and deployment strategies with regard to multiple sources of dedicated energy financing capital, in Pennsylvania and beyond. The candidate will be lead operational contact for grantors, investors, and other stakeholders.
• Visibility: Build Reinvestment Fund’s visibility in the clean energy space, participating in conferences, finance and policy working groups, and other public-facing endeavors.

POSITION REQUIREMENTS

Education and Experience

REQUIRED

• Undergraduate degree in finance, economics, city planning, or other related fields preferred but not required. Equivalent non-academic experience may also be considered if that experience is in the industries to which we lend.
• 6+ years of experience in finance with a demonstrated ability to underwrite real estate, business operations and contract-backed loans, model project cash flows, negotiate loan documents, and execute transactions.
• An understanding of corporate financial analysis and project cash flow analysis.
• Demonstrated experience structuring loans, facilities, new products or programs with other financial organizations or loan participants.
• Excellent quantitative and qualitative analytical skills
• Excellent written communication skills.

PREFERRED

• Background (education and/or experience) in clean energy project development preferred.
• Knowledge of common clean energy-related financing concepts, terminology, and revenue contract structures like Energy Savings Agreements and Power Purchase Agreements as well as regulatory and incentive programs like RECs and Solar Investment Tax Credits is a plus.
• Experience with real estate lending (community facilities, mixed-use buildings, or multifamily housing) as well as business lending, with emphasis on energy efficiency, or to organizations that build electrification and renewables within disadvantaged communities, a plus.
• Experience in green financing and lending in the climate-mitigation sector, including financing decarbonization retrofits of existing buildings and electrified new construction, preferred but not required.
• Prior experience with grant-making for clean energy or energy-efficiency projects is a plus.
• Familiarity with the Inflation Reduction Act, Greenhouse Gas Emissions Reduction Fund, Infrastructure Bill, and other federal, state, and utility energy incentive programs is a significant plus.

Work Location

Reinvestment Fund provides a flexible work arrangement that is a hybrid home/office work arrangement or fully remote. A more flexible work schedule or fully remote will be considered for this role, ideally to be based in the eastern time zone. Episodic travel will be required to Reinvestment Fund’s Philadelphia, PA, headquarters, and to prospective or current borrowers, projects, and conferences (approximately 20%).

Compensation and Benefits

Reinvestment Fund offers a competitive salary based on experience and skills, as well as an excellent benefits package including employer-paid health, disability, and life insurance, 401(k) retirement savings plan with employer match, flexible spending accounts (medical, dependent care), commuter benefits, tuition reimbursement, paid time off, and EAP program.

The salary range for this position at commencement of employment is expected to be between $145,000 and $180,000 per year, however, base pay offered may vary depending on multiple individualized factors, including market location, job-related knowledge, skills, and experience.

If hired, employee will be in an “at-will position” and the Company reserves the right to modify base salary (as well as any other discretionary payment or compensation program) at any time, including for reasons related to individual performance, Company or individual department/team performance, and market factors.

Reinvestment Fund uses E-Verify to validate all new hires’ ability to legally work in the United States. Reinvestment Fund is an Equal Opportunity Employer. Reinvestment Fund does not discriminate in hiring or employment practices on the basis of race, color, religion, gender, age, sexual orientation, marital or familial status, national origin, non-job-related disabilities, or veteran status.

Reinvestment Fund, Inc. has an affiliate, RF Impact Advisers, Inc. (“RFIA”) that is a state-registered investment adviser. To advance compliance with and prevent violations of federal and state securities laws and to avoid even the appearance of a conflict of interest, RFIA has adopted a Code of Ethics to govern certain conduct of its staff, including certain staff of Reinvestment Fund because Reinvestment Fund is an advisory affiliate of RFIA. As part of this Code of Ethics, there are specific personal reporting and other requirements and disclosures of personal financial and/or securities transactions information. For certain individuals, this reporting will extend to your household members. You may be subject to a background check.

EOE STATEMENT

We are an equal employment opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability status, protected veteran status or any other characteristic protected by law.