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UK Infrastructure Bank

Portfolio Manager

Leeds, England, GB

Company: UK Infrastructure Bank

Category: Business and Financial Operations Occupations

Published on 2022-05-04 12:33

The UK Infrastructure Bank is a new entity which will provide leadership to the market in the development of new technologies, crowding-in private capital and managing risk through cornerstone investments and a range of financial tools. It can bolster the government’s lending to local government for large and complex projects and help to bring private and public sector stakeholders together to regenerate local areas and create new opportunities.

The Bank will be a long-lasting institution with a high degree of operational independence. From its inception, its core objectives will be to: 1. help tackle climate change, particularly meeting our net zero emissions target by 2050; 2. support regional and local economic growth through better connectedness, opportunities for new jobs and higher levels of productivity. The focus of the Bank’s interventions will evolve over time to adapt to changes in market trends and technology. The government will review the case for broadening the Bank’s environmental objectives, such as improving the UK’s natural capital, before bringing forward legislation to put the Bank on a statutory footing.

In total, the Bank will have £22 billion of financial capacity to deliver on its objectives, consisting of £12 billion of equity and debt capital and the ability to issue £10 billion of guarantees. It will draw capital from HM Treasury and be able to borrow from private markets. It will also grow through recycling and retention of return on investments. The government will allocate capital to the Bank in phases in line with its institutional development.

The role:

UKIB seeks to appoint a Portfolio Manager on either a permanent or a contract basis.

The portfolio management team manages and oversees the Bank’s growing portfolio of loan, guarantee and equity assets including the Bank’s Digital and EV Charging equity investment funds. The team also manages the legacy UK Guarantee Scheme on behalf of HM Treasury.

Key accountabilities:

1. Monitoring progress on projects, identifying where a project is at risk of going off track and

taking mitigating action – including managing Technical Advisors who are responsible for providing updates and advice on construction projects;

2. Build internal models, interrogate external models, provide support to the team with sensitivity analysis, analysing outputs and performing high level due diligence of financial models

3. Attending site visits and meeting the Project Company management team

4. Secure appropriate technical support if projects run into difficulties to avoid exposing the taxpayer to a high degree of risk of loss, should there be any delay;

5. Dealing with waivers and consents, making judgement calls about which derogations should and should not be agreed to;

6. Checking required documentation, covenant compliance, testing future financial projections and financial accounts

7. Assist in preparing reports for Investment Committee and Credit Committee to inform the Committees about the risks presented by the projects, how those risks are mitigated and what how pricing should be structured.

8. Portfolio Analysis: identifying concentration risks, proposing risk mitigation strategies and monitoring portfolio returns

Required Skills, Knowledge and Experience:

1. Proven portfolio management skills in an infrastructure context;

2. Demonstrable commercial expertise and perspectives combined with a high degree of accountability for high value and sensitive projects;

3. Relevant sectorial experience across the broader infrastructure spectrum, potentially within the energy, power, construction or social infrastructure sectors;

4. Stakeholder management ability will be critical. The successful candidate will display the requisite gravitas, credibility and commercial nous to proactively and constructively engage with a variety of key stakeholders across HM Treasury, Government departments, co-investors, and the commercial leadership of the businesses/assets receiving debt and equity;

5. Demonstrate effective consultancy and project management skills, whether internal or external; evidence of ability to quickly understand and digest complex and detailed information in order to offer advice and expertise, influencing and personal communication skills.

6. Debt experience, ideally gained in a banking or project finance environment is critical as the successful candidates will be leading a function encompassing debt structuring, refinancing, credit analysis, and monitoring/management of loan portfolios. Equity experience in an infrastructure context would also be advantageous;

7. Although prior public sector / Government experience is not required, candidates must demonstrate the cultural ability and desire to operate effectively in a public sector environment;

8. An understanding of due diligence requirements associated with infrastructure financing including reconciliation of financial models to commercial documentation

9. The successful candidate will demonstrate both a strong interest in issues relating to UK national infrastructure and sustainability.