Senior Director, Asset Management at Sparkfund (Remote)
| Washington DC | Remote
Sorry, this job was removed at 8:43 p.m. (CST) on Wednesday, May 25, 2022
Sparkfund is an energy technology platform company based in Washington, D.C. built to enable leading brands to deliver new offers to their customers across resilience, decarbonization & electrification. Our partners use our platform to capture new growth in the energy services market, differentiate their existing end-customer offerings, increase the lifetime value of customer relationships, and more efficiently manage capital structuring, risk appetite, and ongoing servicing. We deliver solutions through a flexible range of commercial structures, from fully managed subscriptions, where we handle everything from installation to ongoing maintenance and repairs, to simple installations for customers who prefer to manage systems themselves, to the monitoring of existing equipment for fault detection and replacement recommendations.
We enable our customers to focus on their core businesses. Sparkfund’s mission is to combat climate change through healthier buildings and transportation. We strive to create positive change by deploying solutions that are good for business and good for the planet. We’re building a diverse and collaborative culture to help us achieve all of that.
We are hiring a Senior Director, Asset Management to join our FinCo division and report to the Vice President of FinCo. This role is integral in building out Sparkfund’s financing capabilities, and you will be responsible for managing Sparkfund’s various capital providers, structuring deals to suit customer needs, managing the current portfolio, and shaping financing strategies as Sparkfund’s product offering continues to evolve. You will be collaborating with stakeholders across the organization (sales, program managers, legal, pricing) to help structure deals and provide input on funding parameters. You will also engage externally with Sparkfund’s current and prospective capital lenders, ensuring that there is adequate debt capital to fund energy projects. There will be a Credit Manager reporting up to you, and you will be responsible for supervising that the credit and risk approval process runs smoothly.
We are looking for someone who excels at seeing the big picture, identifying opportunities for growth, and executing on ideas. Our ideal candidate has strong interpersonal skills and an ability to negotiate through ambiguity and derive actionable outcomes. From providing guidance to sales, working with current customers in repayment, to external credit facility negotiations, the Senior Director, Asset Management is a proactive role that combines financial acumen and strong decision making.
- Run point on lender relationship management through recurring meetings, project and company updates, and responding to inquiries
- Proactive outreach to potential lenders to help support caps in pipeline funding capacity
- Lead negotiation of new credit facilities with existing or new lenders, coordinating with relevant stakeholders across the company to ensure successful facility execution and setup
- Develop reporting to support requirements with Lenders to include: Covenant Tracking, Delinquency Reporting, and Concentration Reports. Integrate Pipeline reports to track deals converted into Installation and Repayment and monitor for delinquencies, signs of credit weakness, and overall industry trends
- Oversee customer and project approval process, providing guidance and determining outcomes for deal exception or escalation events as necessary
- Prepare funding packages, ensure lender requirements are satisfied to fund Sparkfund projects, and coordinate with the delivery team to disburse vendor and installer payments in a timely manner
- Lead periodic lender collateral audits.
- Assist in disposition activities, including the tracking, monitoring, and negotiating of Early Buyouts (EBO) and end-of-term residuals.
- Engage with delinquent customers to socialize available work-out options, build recovery plans, and refer to third parties as necessary for settlement
- Remarket equipment from defaulted transactions; provide support and arrange for the remarketing of repossessed equipment.
- Document and present findings to executive management for borrower-related matters that require timely decisions to be made.
- Work with deal structuring team on any new pricing initiatives, coordinating documentation and socializing with lenders for the ability to fund
- Support new initiatives and provider relationships through establishing guiding parameters on credit, funding, and program structure
- Assist in development and review of internal project contract structure and funding mechanisms as Sparkfund continues to develop its legal structure
- Coordinate with commercial team to identify programmatic opportunities, and work with current lenders or leverage lender relationships to identify capital sources
- Prepare project diligence materials, socialize project details, and coordinate across verticals to align lending terms with customer needs
Required Skills & Qualifications
- Bachelor’s Degree in Accounting, Economics, Business Administration, or Finance
- 7-10 years of portfolio management, equipment or specialty (structured) financing, capital markets, or credit and risk management experience
- Results-driven mindset with an ability to manage, track, and execute on a complex project completion process while maintaining high attention to detail
- Comfort working in a small team with open communication and group problem-solving
- Ability to work independently and comfort in expressing opinions, whether that be to your team or the company's CEO
- Strong communication skills - you'll need to be able to summarize projects, their associated risks, and mitigating factors in a concise and comprehensive manner to internal and external parties
- General tech savvy-ness; Sparkfund relies heavily on software and cloud-based computing for smooth day-to-day operations; comfort using Microsoft Excel and Google Suite is required. Familiarity with Microsoft Office and SalesForce is preferred
- Dedication to what we’re building at Sparkfund, and making an impact through increasing access to advanced energy technology
- Competitive compensation and stock option plans - we believe in radical shared ownership
- Comprehensive benefits package including medical, vision, and dental insurance; pre-tax commuter benefits; disability and life insurance
- Flexible vacation policy that encourages ~4 weeks of paid time off
- We honor all of the federal holiday, and believe in long weekend. Sparkfund is closed every Friday before a Monday holiday as well.
- 8 weeks gender-neutral paid leave for caregivers when they have a new addition to their families
- A company laptop and any other hardware you need
We Want You To Know
You can be a great candidate even if you don't fit everything we've described above. You can also have important skills we haven't thought of. If that's you, don't hesitate to apply and tell us about yourself. We are dedicated to environmental stewardship, and recognize we need diverse perspectives to successfully tackle this massive challenge. To change the world, we must first change ourselves, which is why Sparkfund has created a space that sources viewpoints from people who look and think differently.
We are committed to diversity and building an equitable and inclusive environment for people of all backgrounds and experiences, and we're taking steps to meet that commitment.
We especially encourage members of traditionally underrepresented communities to apply, including women, people of color, LGBTQ+ people, veterans, and people with disabilities.
More Information on Sparkfund
Sparkfund operates in the Energy industry. The company is located in Washington, DC. Sparkfund was founded in 2013. It has 56 total employees. To see all 14 open jobs at Sparkfund, click here.
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