Specialty Underwriter and Portfolio Manager- Renewable Energy

Specialty Underwriter and Portfolio Manager- Renewable Energy

The Underwriting and Portfolio Management organization is responsible for working with internal partners to underwrite new transactions and manage the existing portfolio of Tax equity transactions. Our Underwriters and Portfolio Managers balance supporting the Commercial Banks growth to ensure we have a scalable, well-managed business. This role supports the Renewable Energy, Underwriting and Portfolio Management team.

The Line of Business is focused primarily on Tax Equity transactions in the Renewables sector including wind, solar, storage and other forms of renewable investment.

The team is looking for a candidate with deep subject matter expertise in credit risk management, credit analysis, superior oral and written communication, and a strong work ethic and team mentality. In addition to performing your responsibilities autonomously, you may play a leadership role across deal teams by guiding or shaping less experienced associates. You are trusted to complete complex transactions or solve more unique problems because of your experience and job specific skills.

Primary underwriting responsibilities may include:

• Lead and compile due diligence to draw conclusions on material, current and future risks, and mitigants

• Identify performance drivers, project future performance, anticipate delays in return on and return of investment, and understand tax-related risks unique to tax equity financing (i.e. Capital Accounts, Tax Credit Recapture, Tax Credit Qualification); apply industry research across transactions and share key takeaways across the organization

• Lead transaction execution efforts including oversight of junior members, providing feedback, and coaching and developing less experienced members of the team

• Anticipate questions that will be raised during deal review and approval meetings

• Assist and develop procedures to ensure less experienced team members understand financial statement analysis and cash flow analysis

• Audit, sensitize, and review financial models independently and incorporate deal-specific complex structures or nuances

• Propose appropriate structuring options in tandem with deal team

• Write and prepare all parts of the credit approval document independently; identify need for supplemental analysis and discussion; review work of less experienced members of the team

• Oversee closing process requirements by coordinating with several partner groups for approvals and facilitating communication with operations team; prepare and review closing memos

• Participate in documentation process and negotiate provisions of term sheets, commitment letters, and fee letters with internal and external counsel as well as clients

• Independently lead all aspects of process for complex deals, including special circumstances, higher approval requirements, and setting overall expectations

Primary portfolio or asset management responsibilities may include:

• Manage most complex or highest risk portfolio of accounts; review portfolios of less experienced team members; review and monitor health of portfolio accounts; update financial models on a quarterly basis and evaluate performance against expectations

• Proactively anticipate issues, draw parallels from other accounts to own account; resolve problem accounts in partnership with other teams and specialists

• Review and approve annual reviews and both material and non-material modifications including project-level consent requests

• Facilitate and leads semi-annual portfolio reviews; prepare watch and criticized reports for quarterly meetings & annual reviews

• Review past due reporting, covenants, and payments and remediate with the appropriate party

• Ensure portfolio data is accurate, timely, and complete to ensure strong quality and reporting capabilities

Additional Responsibilities may include:

• Build relationships across function and business to foster collaboration between partner groups; work with partner groups including corporate tax, finance, and accounting to meet internal information requests

• Interact directly with customers, consultants, and external counsel over the course of a transaction representing the LOBs risk-first mindset

• Consult with legal or Special Assets Department

• Mentor and train rotational analysts and new hires

• Participate in internal initiatives to ensure the business is well-managed and operates efficiently

• Ensure compliance with credit policies and procedures

Basic Qualifications:

• Bachelors Degree or Military Experience

• At least 5 years of experience in credit underwriting, portfolio management, or asset management

Preferred Qualifications:

• Bachelor’s Degree in Accounting, Finance, or other relevant fields

• 7+ years of experience in credit underwriting or portfolio management or asset management

• 1+ year of previous leadership experience with deal teams or analysts

***At this time, Capital One will not sponsor a new applicant for employment authorization for this position.

The minimum and maximum full-time annual salaries for this role are listed below, by location. Please note that this salary information is solely for candidates hired to perform work within one of these locations, and refers to the amount Capital One is willing to pay at the time of this posting. Salaries for part-time roles will be prorated based upon the agreed upon number of hours to be regularly worked.

New York City (Hybrid On-Site): $199,100 – $227,200 for Specialty Underwriter & Portfolio Manager (ROEU57)

Candidates hired to work in other locations will be subject to the pay range associated with that location, and the actual annualized salary amount offered to any candidate at the time of hire will be reflected solely in the candidates offer letter.

This role is also eligible to earn performance based incentive compensation, which may include cash bonus(es) and/or long term incentives (LTI). Incentives could be discretionary or non discretionary depending on the plan.

This role is expected to accept applications for a minimum of 5 business days.

No agencies please. Capital One is an equal opportunity employer committed to diversity and inclusion in the workplace. All qualified applicants will receive consideration for employment without regard to sex (including pregnancy, childbirth or related medical conditions), race, color, age, national origin, religion, disability, genetic information, marital status, sexual orientation, gender identity, gender reassignment, citizenship, immigration status, protected veteran status, or any other basis prohibited under applicable federal, state or local law. Capital One promotes a drug-free workplace. Capital One will consider for employment qualified applicants with a criminal history in a manner consistent with the requirements of applicable laws regarding criminal background inquiries, including, to the extent applicable, Article 23-A of the New York Correction Law; San Francisco, California Police Code Article 49, Sections 4901-4920; New York Citys Fair Chance Act; Philadelphias Fair Criminal Records Screening Act; and other applicable federal, state, and local laws and regulations regarding criminal background inquiries.

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Capital One Financial is made up of several different entities. Please note that any position posted in Canada is for Capital One Canada, any position posted in the United Kingdom is for Capital One Europe and any position posted in the Philippines is for Capital One Philippines Service Corp. (COPSSC).