Junior Commercial Asset Manager
Octopus is a group of innovative, entrepreneurial businesses investing in the people, ideas and industries that will help to change the world. We are experts in financial services and energy, transforming these markets by offering our customers access to smart and simple solutions that do what we say they will. Since 2000, we've taken the spirit of entrepreneurship into sectors such as venture capital, wealth management, property financing, healthcare infrastructure and renewable energy investments. We're also building the UK's most highly-rated energy supply business, taking on thousands of new customers every day. Octopus Energy is the only Which? recommended energy supplier for 2019. Today we manage more than £7.7 billion on behalf of retail and institutional investors. We're employee-owned and have more than 950 talented people helping us serve our customers.
Octopus Energy Investments, Octopus Real Estate, Octopus Energy, Octopus Investments, Octopus Ventures and Octopus Wealth are all part of Octopus Group. Our aim is to have an impact in everything we do, and to make a vital contribution to the UK economy by helping people, companies and institutions generate wealth. We currently manage more than £7.7 billion on behalf of both institutional and retail investors. And we're always on the look-out for smart, talented people who share our values.
In business, it's not just what you do, but how you do it. We've worked very hard at Octopus to create a culture where everyone understands that the customer comes first. It's clear in everything we do. In how we design our products and services, in how we answer the phones, in how we treat our people and, most importantly, in how we respond when things go wrong. Personality counts. Part of the communications strategy for the next 12 months will be finding newsworthy and innovative ways to bring this to life in the media as we work to build brand awareness. We believe in the power of entrepreneurship and thinking differently. We see ourselves as a company of more than 1000 entrepreneurs: we are always trying to encourage people to come up with new ideas that improve what we do and make a difference to our customers. Job Description
Supported by the wider commercial asset management team and in-house technical and financial team, she/he will liaise closely with the outsourced providers to drive financial and operational performance and resolve issues as they arise. She/he will be responsible for delivering accurate financial and operational information to Directors, funders and Octopus management, as well as supporting any investment transactions on the portfolio via, for example, responding to due diligence requests on the assets. Occasional travel to site (UK, Italy and France) and to contractors' offices (UK and Spain) will be required.
The role will sit within the Octopus Energy Asset Management (OEAM) team. This team manages over 250 energy generating companies, currently valued in excess of £2.6Bn and delivering revenue in excess of £230m pa. The operational activities include solar power parks, anaerobic digestion systems (AD), wind farms and gas fired generators (also called Reserve Power, RP).
The job scope spans both UK and international portfolios; supporting key commercial decision making across the UK portfolio (e.g. O&M contract negotiation) and delivery of asset management strategies across Europe. The companies are owned by investors in Octopus managed funds or companies and do not have any direct employees.
The roles represent an excellent opportunity for individuals to join a highly motivated, supportive and collaborative team. The role offers a comprehensive training and development plan, encompassing on the job mentoring, in-house specialist sessions and external training. The exact training plan will be designed around her/his needs and development goals. The role might initially be to either support the management of a large portfolio of solar power companies or to support the expanding portfolio of wind farms, there may also be opportunities to work in the Portfolio team.
The Commercial Asset Manager will have:
- An engineering, science or financial university qualification
- A strong interest in renewable energy
The Commercial Asset Manager will use their experience to:
- Support issue resolution on the solar or wind farms incl. commercial decision making and getting approvals from the relevant investment committee as appropriate
- Assist with portfolio wide initiatives, including assisting with project appraisal, due diligence and project financings
- 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
- Update financial models for fund reporting and periodic valuations and budget preparation for the portfolio companies;
- Manage external debt facilities, including ongoing reporting, reserve management, covenant management, condition subsequent resolution and loan compliance
- Review and critically analyse the management accounts of the project companies, reporting any issues to senior management and approving write offs as necessary
- Oversee and manage revenue and expenditure and cash balances in project companies (incl. drawdowns, dividends etc)
- 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
- Support external and internal reporting and compliance work streams, including operational analysis and waiver request/consents
The closing date for this role will be Friday 19th July.
- This role will suit a university graduate with an engineering or science or financial background with a keen interest in renewable energy
- A motivated individual looking to develop their commercial and financial skills
- Flexibility and "can do" attitude
- Excellent communication skills, both verbal and written
- Willingness to learn and support others
- Looking for an engaging role as part of an asset management career
- Dependable and committed to meeting the team's objectives