The Finance & Tax Associate will support the Finance Director and Mayflower’s shareholders in the execution of the Finance and Investment Tax Credit strategy for the Mayflower project.
The Finance & Tax Associate will oversee the creation of the Project Economic Model and will be responsible for regular updates, day to day operation of the model and own the investment case for Mayflower.
The Finance & Tax Associate, under the supervision of the Finance Director, be involved discussions with Finance Institutions in order to find the best financing solution for delivering the offshore wind projects.
The Finance & tax Associate shall manage the treasury function of Mayflower including cash forecasting, partner cash engagement, and overall liquidity needs.
This role will involve the coordination of the project sponsors and project team, ensuring they have the relevant information to support decision making processes.
This role will be based at Mayflower’s office located in Boston. Should expect some travelling as well as occasional visits to the corporate offices of EDPR in Houston and/or Europe.
- Working with the Finance Director, assist with the development and execution of the tax equity strategy for Mayflower in order to assure Mayflower is in the best possible position to receive federal tax credits.
- Manage the Mayflower Investment Tax Credit programme ensuring compliance with requirements of the IRS.
- Work with Project Advisors to prepare comprehensive financial model for Project Finance to deliver cash flow forecast, scenario analysis, risk assessment and return analysis.
- Work closely with the project partners, advisors and Finance Director to identify, analyze and execute the optimum Project Finance and investment tax credit (ITC) solution for the project, in order to support any PPA request for proposal (RfP) processes.
- Manage the control of the Mayflower project development budget including preparing the forecasts and reporting for budget v actuals and forecasting of year end budget position.
- Manage the Mayflower Treasury function, including forecasting cash needs, partner cash injection requirements and all other treasury requirements.
- Manage the collation and control of all of the project inputs into the Financial Model, including CapEx, OpEx, Remuneration, Taxation, Macro Assumptions and timeline effects and ensure robust processes are in place for control and approval of these inputs.
- Manage the project timeline assumptions for FID and Financial Close, understanding all of the key project conditions to meet FC and the project timeline for doing so.
- Communicate information continuously and effectively to cross-functional team.
- Other duties as assigned.
Direct Reports: No direct or indirect reports.
Travel: Up to 50%, domestically and internationally, by plane and by car and with short notice.
- Bachelor’s degree in a related field; Master’s degree preferred.
- A minimum of 3 years’ experience in the energy sector; Experience in the offshore wind or renewables industry desirable.
- Experience working within a finance department; Experience within the offshore wind industry ideal.
- Experience with financial modelling and Investment Tax Credit processes.
- Demonstrated ability to communicate and work cooperatively with regulatory agencies.
- Excellent written and oral communication skills, including first-rate drafting and editing abilities
- Very strong collaboration, communication (both oral and written) and interpersonal skills with a customer-oriented focus.
- Demonstrated ability to communicate effectively with management.
- Demonstrated ability to manage multiple priorities and successfully complete them within specified timeframes.
- Strong commitment and proven leadership skills.
- Ability to work under tight deadlines and make rational decisions, even when under pressure.
- Outstanding communication, diplomatic, networking, influencing and conflict solving skills.
- Ability to take initiative and highly result oriented.
- Strategic and forward thinking.
- Strong sense of values and ethics, as well as confidentiality when dealing with sensitive information.
Physical Demands & Working Conditions
- Sitting/Standing/Flexibility: Ability to stand and sit for 8 or more hours when in an office environment.
- Speech/Reading: Ability to speak, read, and write English proficiently and deliver a variety of instructions furnished in written, verbal, diagram, or schedule form.
- Lifting: Ability to lift items weighing up to 10 pounds.
- Vision/Hearing: Ability to understand a variety of instructions furnished in written, verbal, diagram, or schedule form.
- Safety: Ability to understand and communicate safety precautions when necessary.