Commercial Finance Manager

Department: Infrastructure Asset Management - Finance

About Downing

Downing is dedicated to delivering investments that matter – for our economy, our health, our society, our local communities and our environment. For over 35 years, our highly experienced team and our entrepreneurial spirit has driven us to seek out long-term and unique opportunities that solve challenges faced by investors, companies and society. From our headquarters in the City of London, and from offices in Cardiff, Glasgow, Helsinki and Stockholm, we structure and manage innovative investments that meet specific investor needs and look to the future with conviction. Our 200-plus employees drive our vision of long-term value creation, which we achieve by being bold, straightforward and ambitious.

Guided by these principles we have a broad range of investment opportunities. Our private market offerings include renewable energy infrastructure, private equity and private credit. In public markets, we have a boutique of specialist fund managers that provide a distinctive suite of investment mandates. As a certified B Corp, we take our responsibilities, to our investors, our stakeholders and society, seriously. We invest for return while always considering our impact on the world. Diversity is important to us, and we see the benefits that having a team with a range of backgrounds and perspectives can bring. We are bold and ambitious, straightforward and we support each other. These core values are vital to everything we do – from the businesses we invest in, to the people we hire.

About the team

The Energy & Infrastructure (E&I) Asset Management finance team consists of two key components: Finance Operations and Commercial Finance. These teams collaborate to manage the financial, commercial, and valuation workstreams of the assets under management. The finance team operates from London, Glasgow, and Stockholm, collectively overseeing assets owned by two Downing-managed investment funds. These funds encompass over 100 entities and assets, including holding companies and special purpose vehicles focused on solar, wind, hydro, grid, battery storage, and shunt reactor technologies. The E&I Asset Management team includes technical and commercial experts, ESG specialists, data analysts, and finance professionals. Team members are distributed across the three main offices, similar to the finance team. We work in close partnership with the wider Downing teams to drive growth for the Downing-managed investment funds.

Role and responsibilities

Reporting to the Finance Director based in London, this role will be responsible for overseeing all financial management activities for the operational solar portfolio, which includes operations in the UK and Ireland. As the renewable energy portfolio in these regions expands, you will also be expected to manage any new renewable energy assets and technologies that are introduced. Additionally, this role will oversee the Debt Management team, ensuring strong relationships with external lenders and full compliance with all lending requirements. Responsibilities include maintaining and updating quarterly debt models, managing debt-related submissions, and ensuring timely and accurate compliance reporting to lenders. This role is pivotal in ensuring smooth communications with all stakeholders, both external and internal, and managing all finance operations to the highest standard and on time. The Finance Manager will play a crucial role in process optimization and will work closely with all stakeholders of the Energy & Infrastructure team.

Your responsibilities will include:

• Leadership and communication
• Establish a dedicated debt-management specialist team within the Energy & Infrastructure division, working in close partnership with the investment and asset-management teams to support all debt-raising initiatives.
• Develop robust processes, controls, and policies to ensure effective governance and ongoing oversight of all existing external debt facilities.
• Lead financial & commercial management for a solar portfolio of approximately 150 assets (including ground-mounted and rooftop installations), ensuring robust stakeholder engagement and effective communication across internal and external parties.
• Build and maintain strong relationships with key stakeholders, including auditors, tax advisors, regulatory bodies, external lenders, external investors and internal teams.
• Prepare and present financial reports for internal and external stakeholders, providing insights and recommendations for financial strategy and decision-making.

Reporting

Responsible for all financial reports in the solar portfolio ensuring it is prepared to the highest standards and timely. This includes but not limited to the following:

• Monthly financial performance including variance analysis, profits & cash projections, budget assumption changes and compliance tracker
• Quarterly debt reports (consolidated financials, debt model, compliance certificate)
• Quarterly debt management report for internal use
• Bi-annual solar performance for interim financial statement reporting
• Annual consolidation of financial statements
• Other ad-hoc reporting

Coordinate with external auditors to facilitate financial audits, ensuring timely and accurate provision of required documentation and information.

Finance operations management

Ensure timely and accurate preparation and submission of all tax filings in compliance with local regulations. Oversee all payment processes, ensuring accuracy and timeliness. Oversee accounting operations, including accounts payable, accounts receivable, general ledger and financial reporting. Ensure compliance with all financial regulations and standards, including internal policies and external legal requirements. You are also expected to prepare internal policies. These areas will be working closely with the finance operations team (team of 6 managing the UK and Nordics market) who will be responsible for preparing these transactional areas with you to oversee the entire process.

Budgeting and forecasting

Lead the annual budgeting process creating the business plan for the financial year together with other stakeholders under the common budgeting framework designed by the FP&A lead. Responsible to evaluate the deviations of actual data/contracts to the budget plan. Make recommendations for quarterly updates to the budget assumptions. Support the investment & valuation team in updating the valuation models on a quarterly basis. You are not expected to run the financial models but would contribute to the inputs into the models. Proactively manage cash flows to ensure sufficient liquidity for operations and investment activities.

Team Management

Manage one team member directly, providing guidance, support, and professional development opportunities. The team may grow in the future as the business grows. Manage one to two team members via a dotted line to the account assistants in the finance operations team based in Glasgow and Stockholm who supports transaction matters, ensuring effective collaboration and communications.

Process optimisation

Continuously identify opportunities for process and system improvements. Implementing new tools and systems with a strong focus in achieving AI automation of “AI driven, human managed”. Lead the implementation of process improvements, working closely with relevant teams to ensure successful adoption and integration and proper documentations.

Debt management

Act as the primary point of contact for external lenders, ensuring transparent communication and timely provision of reporting obligations. Update and maintain quarterly debt models for submission to external lenders, covering all portfolios with external debt. Drive initiatives to align the debt model to the investment model as closely as possible. Monitor debt ratios proactively, ensuring compliance and developing solutions to mitigate risk when ratios approach distress levels. Prepare and deliver quarterly debt management reports for internal stakeholders, providing clear insights and recommendations. Conduct sensitivity analyses on debt and leverage ratios, presenting findings and strategic implications to internal stakeholders. Support the relevant team in debt-raising initiatives. Work closely with technical advisors and external lenders to utilise funds within maintenance reserve accounts. Evaluate potential opportunities for lowering debt service costs or interest-bearing accounts.

Other

Support in tax planning and structuring of new transactions, regions, etc. Support investment team in acquisition or divestment of entities/assets. From time to time, there may be ad-hoc works that you would be expected to manage.

Education, experience and skills

The ideal candidate will have the following:

• Bachelor’s degree in Finance, Accounting, Business Administration, or a related field. A Master's degree or professional certification (e.g., CPA, CFA) is preferred
• Minimum of 6 years of experience in finance management, with a focus on the UK market. Experience in the energy and infrastructure sector is a plus.
• Proficiency in financial software and tools.
• Experience in systems and process implementation
• Deep understanding of debt modelling and project finance management is essential.
• Fluency in English.

Personal characteristics

Flexibility: Willingness to adapt to new situations and challenges. Problem-solving: Efficiently identifying and resolving issues. Initiative: Taking proactive steps to address issues and improve processes. Attention to Detail: Ensuring accuracy and thoroughness in tasks. Time Management: Effectively managing your time to meet deadlines. Self-Awareness: Recognising your strengths and areas for improvement. Accountability: Taking responsibility for your actions and decisions. Integrity: Demonstrating honesty and strong moral principles. Resilience: Bouncing back from setbacks and staying motivated. Teamwork: Collaborating effectively with others. Communication: Clearly conveying information and ideas effectively, both verbally and in writing.

Further information

Downing’s values - Be bold and ambitious | Be straightforward | Support each other. Our values serve as a guide that shapes every aspect of Downing. They extend far beyond the conduct of our employees and encompass our products, services, and relationships with our investors and their advisers. By upholding these values, we firmly believe that we can navigate challenges and seize opportunities. Our commitment to these values ensures that we make a positive impact in everything we do, leaving a lasting and meaningful imprint on the world around us.

Downing operates a hybrid working policy whereby employees are expected to work from the office for a minimum of 3 days each week. If specific days are required in the office, this will be communicated during the interview process.

Diversity and inclusion

At Downing, we work hard to create a safe space for everyone: an environment for people to be themselves, and to be straightforward, honest and candid. Diversity is important to us, and we are passionate about creating an inclusive culture that supports and celebrates this. We are committed to treating all employees and applicants fairly throughout our recruitment process and every aspect of employment, irrespective of background, disability or any other protected characteristic.

Reasonable adjustments

We will make reasonable adjustments within our recruitment process (and throughout employment) where needed. If you need any adjustments at any stage of our recruitment process, please do not hesitate to speak to the hiring manager or Downing’s People Team (people@downing.co.uk).

Privacy

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