Job Summary
Job Description
What is the opportunity?
RBC Capital Markets is the global investment banking arm of the Royal Bank of Canada (RBC). RBC Community Investments (www.rbccm.com/communityinvestments) is a leading national syndicator of tax credits, including State and Federal Low Income Housing Tax Credits (LIHTCs), Historic Rehabilitation Tax Credits (HRTCs), New Market Tax Credits (NMTCs) and Renewable Energy Tax Credits (RETCs).
The Vice President, RETC Investments - Originations will have primary responsibility for leading transaction negotiation and execution for the RETC originations platform. The role ensures new deal structuring and pricing, business and credit approval of transactions, closing execution and ongoing financial modeling support post-closing of RBC’s investments in and syndication of renewable energy tax credit transactions. The Vice President will work closely with all levels of personnel assigned to the group, as well internal RBC partners.
What will you do?
- Lead business approval and credit support necessary for the origination and closing of RETC transactions, including, but not limited to, identifying and managing risk appropriate with renewable energy investments.
- Lead financial modeling and analysis throughout the life cycle of RETC transactions – lower tier and upper tier.
- Lead due diligence of investment opportunities under the guidance of senior RETC personnel, including but not limited to KYC procedures, reviewing tax equity documents, attending site visits (as assigned), and analyzing the detailed third party reports typically associated with investments of this type (insurance reports, independent engineering studies, appraisals).
- Lead management and negotiation of transactions under the guidance of senior RETC personnel through the Closing Date and final-true up / stabilization. Serves as primary or secondary point of contact with the Sponsor in each transaction until the transaction stabilizes.
- May be responsible for the deployment of equity pursuant to the partnership operating agreement requirements surrounding collection of all Conditions Precedent. Will collect and review the funding requirements for accuracy and compliance with the documents. Preparation of the Equity Request and circulation of the completed package to the Portfolio Manager and Community Investments Controller for review and approval.
- Provide oversight of the transactions by analyzing performance data on a monthly, quarterly, or annual basis, as applicable. Provide technical assistance in the area of project performance and managerial strategy to ensure the continuous flow of tax credit benefits and cash flow.
- Expedite the receipt of financial and operational information for each transaction and/or Sponsor on a monthly, quarterly and annual basis, as applicable. Identify data and information which implies a developing pattern of problems and elevate to management the need for further investigation.
- Lead communication with Sponsors to ensure timely submission of tax returns and audits each year by confirming the early engagement of a CPA firm and tracking the status of progress and providing periodic reminder notices as necessary.
- Lead financial modeling and disposition analysis at the end of the credit period or other dissolution event.
- Manage relationships with existing Sponsors and others in the RETC industry to ensure the flow of current and relevant information.
- Proactively identify and escalate operational risk loss events / control deficiencies and risks to line manager and the relevant risk and control functions on a timely basis.
- Review and comply with Firm Policies applicable to your business activities.
What do you need to succeed?
- Must possess a Bachelor’s degree, preferably in Finance or Accounting.
- Renewable energy project finance experience and excellent quantitative and analytical skills are essential, specific tax equity experience preferred.
- Proficiency in MS-Office applications is required.
What’s in it for you?
We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper. We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.
- A comprehensive Total Rewards Program including bonuses and flexible benefits, competitive compensation, commissions, and stock where applicable
- Leaders who support your development through coaching and managing opportunities
- Ability to make a difference and lasting impact
- Work in a dynamic, collaborative, progressive, and high-performing team
- Opportunities to do challenging work
- Opportunities to building close relationships with clients
The good-faith expected salary range for the above position is $180,000- $250,000 depending on factors including but not limited to the candidate’s experience, skills, registration status; market conditions; and business needs. This salary range does not include other elements of total compensation, including a discretionary bonus and benefits such as a 401(k) program with company-matching contributions; health, dental, vision, life and disability insurance; and paid time-off plan.
- RBC’s compensation philosophy and principles recognize the importance of a highly qualified global workforce and plays a critical role in attracting, engaging Drives RBC’s high performance culture
- Enables collective achievement of our strategic goals
- Generates sustainable shareholder returns and above market shareholder value
Job Skills
Communication, Critical Thinking, Customer Service, Detail-Oriented, Industry Knowledge, Information Capture, Investment Banking, Negotiation, Product Services, Teamwork
Additional Job Details
Address:
BROOKFIELD PLACE FKA 3 WORLD FINANCIAL CENTER, 200 VESEY STREET:NEW YORK
City:
New York
Country:
United States of America
Work hours/week:
40
Employment Type:
Full time
Platform:
CAPITAL MARKETS
Job Type:
Regular
Pay Type:
Salaried
Posted Date:
2024-11-14
Application Deadline:
2025-02-24
Note: Applications will be accepted until 11:59 PM on the day prior to the application deadline date above
Inclusion and Equal Opportunity Employment
At RBC, we embrace diversity and inclusion for innovation and growth. We are committed to building inclusive teams and an equitable workplace for our employees to bring their true selves to work. We are taking actions to tackle issues of inequity and systemic bias to support our diverse talent, clients and communities.
We also strive to provide an accessible candidate experience for our prospective employees with different abilities. Please let us know if you need any accommodations during the recruitment process.
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