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Senior Portfolio Associate - Funds

Evolve Energy

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London, UK

Posted on Thursday, December 21, 2023

Octopus Energy Generation (OEGEN) is a leader in sourcing, investing in, and managing a wide range of utility-scale renewable energy assets. As we continue to expand our investment base, we are dedicated to building a diverse team that reflects the communities we serve.

Since our entry into the renewables market in 2010, OEGEN has achieved remarkable milestones, becoming a leading investor in onshore wind across mainland Europe, the largest investor of solar power in Europe, and recently venturing into offshore wind projects. Currently, we manage a global portfolio of over £6 billion in renewable energy assets.

Our operational portfolio consists of more than three hundred large scale energy-generating companies. We take pride in our wind farms, solar power plants, and upcoming projects in energy storage and hydrogen. To support our ambitious growth plans and long-term ownership of energy assets, we are expanding our team.

We are committed to delivering best-in-class responsible investment activity, offering like-minded investors the means and products to invest their capital sustainably. It is our ambition to change the entire energy lifecycle and make every green electron matter, delivering the best outcomes for customers, investors, the environment and society, accelerating the transition to net zero.

About the role:

We are seeking a Senior Portfolio Associate to join the Fund Management Team, reporting to the Senior Portfolio Manager and Valuations Lead. This position will have specific responsibility for the portfolio management and quarterly valuations of an assigned portfolio of renewable assets.

For this portfolio of assets, your role is to understand and deliver against all investor requirements which includes reporting, valuing portfolio investments, forecasting and calculating distributions and investor communications. In this role, you will deliver

accurate and high-quality outputs whilst supporting the drive to continuously improve our fund management processes. This is an exciting and challenging opportunity to work in OE Generation where our ambition is to onboard and manage £bns of assets over the next 5 years.

Core responsibilities will include:

Valuations process: You will work directly with the Valuations Lead to support the process to perform regular bottom-up asset level valuations on an assigned portfolio of renewable assets. This will include undertaking detailed assumptions reviews and sense-checking outputs from financial models owned by the Fund Management Team to ensure our portfolio valuations reflect fair value as well as collecting and analysing comparable transaction data. You will be expected to provide input in terms of ensuring consistency and consensus on appropriate assumptions to be used. You may also work with external parties on model audits and valuations opinions.
Equity investment modelling: You will proactively monitor your assigned portfolio companies and/or renewable energy assets through creating, maintaining and improving portfolio company and operational asset models. You will deliver accurate and timely quarterly valuations, updating models and undertaking detailed assumptions reviews and checking outputs from peers. You will maintain a close relationship with Asset Managers to understand underlying Asset Performance. You will monitor investor returns, track record and other fund KPIs, ensuring accurate data and informative forecasts. You will ensure any new acquisitions you are assigned are onboarded into the Fund Management Team effectively. You will do this on using Power BI/Excel Models.
Cashflow forecasting: You forecast cash within your assigned portfolios and work with the Senior Portfolio Manager to provide a coherent and accurate cashflow forecast across all invested assets.
Debt modelling: You will understand the debt structures in place within your asset portfolios and ensure that all lender requirements are understood and complied with. You will work with the Investments team on project finance where appropriate and build your knowledge in this area.
Audit support: You will respond to Fund-level audit requests providing accurate data, supporting evidence and analysis in a timely manner.
Derivatives management: You will be required to follow processes and conduct analysis relevant to your portfolios including FX, Interest Rate Swaps, Cash Products working with Finance and the Investments team to ensure these deliver fund mandates.
Risk Management: You will support the Senior Portfolio Manager in ensuring that the fund is governed correctly, creating papers for relevant Boards, ensuring accurate information, driving effective and efficient processes and managing counterparties diligently. You will start to understand the risks associated with the portfolio and proactively monitor, escalate and mitigate.
Investor Reporting: You will coordinate and input into the creation of equity and debt investor reports and outputs that we can be proud of, ensuring that the information provided is accurate and relevant.
Continuous Improvement: You will look for improvements in the way we do things, driving consolidation, simplification and automation where possible to optimise outcomes for our investors, working on Fund Management Projects as appropriate.

Ideally, you’ll have some or all of the following qualifications, skills and job-related experience

Minimum of 3 years’ relevant working experience
In-depth knowledge and skillset in valuing assets and/portfolio companies, discounted cashflow modelling and debt modelling. A modelling test will be part of the recruitment process.
Strong technical knowledge of valuations principles and best practices
Previous experience of working in the renewables sector or infrastructure real assets
Experience of creating high quality investor outputs
Excellent financial acumen; knowledge of accounting fundamentals would be advantageous
CFA qualification or Accounting qualification beneficial (ACA/ACCA or equivalent)

And to really stand out from the crowd, you will display the following qualities and characteristics:

Thrive in a fast-moving business, able to see solutions where others see problems, passionate about improving processes, models and customer outcomes. Excited, not overwhelmed by a challenge.
Excellent verbal and written skills, able to distil and seek out insightful analysis
Active listener and communicator, able to demonstrate the ability to manage stakeholders
Passionate about the detail, taking accountability for the accuracy of every output.
Able to plan ahead but also work under pressure, always delivering to deadlines.
Able to collaborate. A team player, flexible in approach and able to support others as necessary.

Why you'll love it here

Wondering what the salary for this role is? On a call with one of our recruiters, this is always something we cover as we genuinely want to match your experience with the correct salary. The reason why we don't advertise is because we honestly have a degree of flexibility and would never want salary to be a reason why someone doesn't apply to Octopus - what's more important to us is finding the right octofit! We will also ask your current salary - we want to let you know this upfront so you're comfortable talking about it on a call with us.
Octopus Energy is a unique culture. An organisation where people learn, decide, and build quicker. Where people work with autonomy, alongside a wide range of amazing co-owners, on projects that break new ground. We want your hard work to be rewarded with perks you actually care about! We won best company to work for in 2022, our Group CEO, Greg has recorded a podcast about our culture and how we empower our people. We’ve also been placed in the top 10 companies for senior leadership