We are looking for a Senior Associate Asset Manager who will be responsible for the management of an expanding portfolio of wind farms worth in excess of £350m. The wider Octopus wind portfolio is currently one of the largest commercial onshore wind portfolios in the UK. The companies are owned by investors in Octopus managed funds or companies. The role sits within the Octopus Energy Asset Management team, which is responsible for the management of c£2.7bn of energy assets.
The operational activities of the companies are managed by the Octopus Energy Asset Management Team centrally. This role will be heavily involved in all aspects of asset management from setting the overall corporate direction and strategy down to the granular budget setting and cash controls. However, much of the day to day operations and accounting is outsourced. The Senior Associate will be accountable for all commercial and financial aspects under their management, including reporting to management, lenders and investors.
The role represents an excellent opportunity for an asset manager with good wind experience to join a highly motivated, supportive and collaborative team. It will provide an excellent exposure to both wind and finance industries. The role offers a comprehensive training and development plan, encompassing on the job mentoring, in-house specialist sessions and external training. Professional qualifications are also encouraged and supported where relevant. The exact training plan will be designed around her/his needs and development goals.
The Senior Associate Asset Manager will:
• Liaise with the operators of the power plants to monitor and optimise performance throughout the life cycle of plants; gathering and managing detailed data for the portfolio companies
• Drive issue resolution incl. commercial decision making and getting approvals from the relevant investment committee as appropriate
• Manage contractual framework agreement with key outsourcing partner to drive efficiency across the portfolio and allow swift upsizing of the portfolio
• Assist with portfolio optimisation in line with relevant deal closing strategy; this could include restructurings, PPA strategy, portfolio tendering, third party debt refinancing or exit strategies
• Work closely with investment teams to identify contractual and/or commercial risks with new deals, in the process preparing the asset management teams for asset on-boarding
• Provide training and support for more junior members of the asset management team
• Oversee and manage revenue and expenditure and cash balances in project companies (incl. drawdowns, dividends etc)
• Update and maintain complex financial models, reflecting market conditions and operational performance
• Support internal Octopus fund reporting, including periodic (quarterly) valuation of the portfolio companies
• Support external financing reporting compliance work streams, including operational analysis and waiver request/consents
• Support strategic asset management choices when new geographical markets are being considered
• Maintain and enhance the risk monitoring framework in place
• Have oversight of operational budgets for both operational and facility purposes
• Review and critically analyse the management accounts of the project companies, reporting any issues to senior management and approving write offs as necessary
• Review and approve audited accounts (before Director signs)
• First port of call for questions from Directors, Funds, Committees, Banks etc.
The candidate will be well-educated and a quick learner. The candidate must be well organised with good prioritisation skills to manage both site specific and portfolio wide issues across multiple companies. They will be numerate, have good commercial acumen and excellent interpersonal skills.
Education & experience requirements