Commercial Manager – Structuring, North American Distributed Energy
Direct Energy is a leading energy and energy-related services provider with nearly five million residential and commercial customers in North America. Direct Energy provides customers with choice and support in managing their energy costs through a portfolio of innovative products and services. A subsidiary of Centrica plc (LSE: CNA), one of the world’s leading integrated energy companies, Direct Energy operates in 50 U.S. states plus the District of Columbia and 10 provinces in Canada. To learn more about Direct Energy, please visit www.directenergy.com.
Commercial Manager - Structuring, is a crucial member of the Commercial team for Centrica DE&P. Reporting directly to the Commercial Director, this role is expected to work broadly and collaboratively to achieve an exciting growth agenda to deliver distributed energy solutions for large energy users.
- University degree (accounting, business, economics, finance preferred)
- MBA, CFA, or equivalent preferred
- Strong B2B transactional experience including complex deal structuring
- Minimum 5-7 years B2B industry/ financial/banking experience - including but not limited to - mergers, acquisitions, investments, private equity, debt funding, capital markets & treasury
- Excellent financial and business analysis skills
- In-depth knowledge of financial instruments, products and valuations
- 3-5 years energy experience preferred
- Knowledge of North American natural gas and power markets preferred
- Sound understanding of both commodity and non-commodity based energy products
- Strategic thinking and ability to identify market potential for significant business growth
- Quick study; capable of grasping the structure & intricacies of the energy business & markets
- Collaborative senior leader capable of building close working relationships with peer groups
- Deep experience working in a large/global company with matrix structure/relationships
- Resourcefulness and ability to work with limited supervision
- Flexibility and ability to manage multiple tasks and deadlines
Skills And Competencies
- Financial reasoning and commercial analytical skills; ability to distill numerical complexity into sound commercial plans and processes. Convey options and decisions to non-finance / non-commercial partners.
- Critical Thinking/Creative Thinking: Identify main issues, problems & opportunities; assess a range of situations & solutions, using analysis to draw appropriate conclusions and judgments.
- Thinks and talks strategy. Sees ahead clearly; can anticipate future consequences and trends accurately; has broad knowledge and perspective; is future oriented; can articulately paint credible visions of possibilities; can create competitive and breakthrough strategies and plans.
- Collaboration/Influencing: applies range of appropriate behaviors and influencing styles to gain the support, trust, and credibility of both internal and external sales clients and partners to effectively and efficiently achieve stated business objectives.
- Makes good decisions based upon a mixture of analysis, wisdom, experience and judgment; most of his/her solutions and suggestions turn out to be correct and accurate when judged over time; sought out by others for advice and solutions.
The Commercial Manager - Structuring will, for North American Distributed Energy solutions:
- Act as the business lead on proposing, reviewing, structuring and executing various funding strategies and sources to allow financing and growth of B2B energy projects.
- Propose, evaluate and cultivate thought leadership of a variety of capital, debt and equity funding mechanisms including but not limited to asset backed funding, project funding, contract level certificates of participation, portfolio securitization, creation of yield co structures and the optimal use of company level facilities including debt warehouses and tax equity investments.
- Translate business level funding strategies into preferred contract vehicles and mechanisms for B2B customers, including Energy Performance Contracts, Energy Services Agreements and Power Purchasing Agreements.
- Create and execute appropriate project-level tracking mechanisms, ensuring that pre-signature and post-signature projects are on track for developmental milestones and that the asset and portfolio performance meets any applicable covenants, commitments and performance
- Create and execute appropriate asset-level performance for commissioned into production energy assets, to ensure that power output, input fuel, energy capacity and other performance factors meets or exceeds the as modelled, contracted or expected levels
- Create and execute appropriate monitoring and governance steps around whether the creation and monetization of regional income streams (such as Solar Renewable Credits) is on plan
- Develop and maintain partnerships with third-party financers to assist our customers in project funding on either a project or portfolio basis as needed.
- Work as required with other Commercial Managers responsible for modelling and contract negotiation to ensure a coherent and consistent approach to income rights and streams.
- Work as required with external experts and third party partners on technical accounting, investment banking and energy incentives to ensure we are delivering innovative structures
- Manage the commercial aspects of the securitization of financial assets.
- Work closely with wholesale, supply & trading functions in Direct Energy Business and with treasury, tax, accounting, finance & legal functions in Centrica.
Specifically, the role will be responsible for the successful structuring and provision of a variety of equity and debt financing options on a project, portfolio and ad-hoc basis for energy investment projects for large energy users, often across multiple products, sites, and partners (‘Solutions’)
- Solutions may include construction, installation, operation and maintenance of distributed energy sources and associated infrastructure such as battery storage, Combined Heat & Power and traditional gensets, solar PV, and other efficiency upgrades.
- Contracting and structuring methods for Solutions may include financing such as in the form on Energy Performance Contracts and long term support such as Energy Services Agreements.
- It is expected that the role will work in close collaboration with our finance, treasury, tax and other teams to ensure we can offer customers a truly turn-key and competitive energy project approach; including structured capital financing, leasing and long-term service contracts.
The IndividualDirect Energy and its subsidiaries are an Equal Opportunity Employer - EOE AA M/F/Vet/Disability
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