Tax Investment Manager

Job Description

Job Description

Overview

The Tax Investment Manager is responsible for leading the underwriting, financial modeling, execution, and ongoing asset management of a diversified portfolio of tax credit investments, with a primary focus on Investment Tax Credit (ITC) transactions, renewable energy project finance investments, Low-Income Housing Tax Credits (LIHTC), and other federal and state tax credit programs. The role serves as a key advisor in evaluating tax-advantaged investment opportunities, assessing project risks and returns, structuring transactions, and monitoring portfolio performance to maximize after-tax economics and ensure realization of expected tax benefits.

The successful candidate will possess strong project finance and/or tax equity investment expertise, including the ability to evaluate complex partnership structures, model tax and cash flow outcomes, conduct comprehensive due diligence, and actively manage investments throughout their lifecycle.

Responsibilities

Investment Underwriting, Project Finance & Financial Modeling

• Lead comprehensive underwriting and due diligence of tax credit investment opportunities, with particular emphasis on renewable energy ITC and tax equity transactions.
• Assess project finance fundamentals, including sponsor strength, developer track record, construction risk, operating risk, revenue stability, capital structure, and financing assumptions.
• Build, maintain, and enhance complex financial models to evaluate projected tax benefits, cash flows, partnership economics, internal rates of return (IRR), return on investment (ROI), and after-tax returns.
• Perform detailed sensitivity analyses and stress testing across key variables including energy production, construction schedules, tax credit delivery, recapture risk, operating performance, and changes in tax law.
• Analyze partnership flip structures, tax equity waterfalls, allocation methodologies, and projected capital account outcomes.
• Evaluate transaction risks and develop recommendations regarding investment sizing, pricing, structuring, and approval.
• Prepare investment committee memoranda, executive summaries, and recommendation packages for senior management.

Transaction Structuring & Investment Execution

• Manage all phases of transaction execution from initial underwriting through closing and funding.
• Collaborate with internal tax, legal, accounting, treasury, and risk management teams to structure investments that align with corporate tax planning objectives and risk parameters.
• Coordinate with developers, sponsors, lenders, tax advisors, independent engineers, consultants, and syndicators during diligence and closing processes.
• Review and negotiate financial provisions of partnership agreements, operating agreements, financing documents, and tax equity structures.
• Ensure investment documentation appropriately protects expected tax benefits, cash distributions, indemnification rights, and reporting requirements.
• Monitor transaction milestones and closing deliverables to ensure timely execution.

Portfolio Monitoring & Asset Management

• Lead ongoing monitoring and asset management of ITC, renewable energy, LIHTC, and other tax credit investments throughout their investment lifecycle.
• Review quarterly and annual financial statements, tax reporting packages, compliance certifications, engineering reports, operating metrics, and investor communications.
• Monitor construction progress, mechanical completion milestones, placed-in-service dates, tax credit qualification requirements, and project performance relative to underwriting assumptions.
• Evaluate actual versus projected tax credits, cash distributions, production performance, operating expenses, debt service coverage, and overall investment returns.
• Identify emerging project, tax, compliance, operational, or counterparty risks and develop mitigation strategies.
• Manage compliance tracking related to tax credit delivery, recapture exposure, partnership covenant compliance, and regulatory requirements.
• Prepare portfolio dashboards and performance reports summarizing investment returns, tax benefit realization, risk exposures, and key portfolio trends for executive management.
• Serve as primary relationship manager for external investment partners, developers, fund managers, and asset managers.

Qualifications

Education & Experience

• Bachelor's degree in Finance, Accounting, Economics, Business, Engineering, or related field; MBA, CPA, CFA, or advanced degree preferred.
• 8+ years of experience in tax credit investing, renewable energy finance, project finance, tax equity investing, structured finance, or related disciplines.
• Significant experience underwriting and managing Investment Tax Credit (ITC) investments and renewable energy transactions strongly preferred.
• Experience with partnership structures, tax equity financing, sponsor-level underwriting, and project finance transactions.
• Demonstrated experience managing investments through development, construction, operational, and tax compliance periods.

Skills & Competencies

• Advanced financial modeling skills, including project finance, tax equity, and discounted cash flow analysis.
• Strong understanding of renewable energy financing structures, tax equity transactions, partnership allocations, and federal tax credit programs.
• Ability to assess complex tax, accounting, legal, and commercial considerations impacting investment performance.
• Strong underwriting, due diligence, and risk assessment capabilities.
• Excellent analytical and problem-solving skills with attention to detail.
• Ability to communicate complex financial concepts and investment recommendations to senior executives and cross-functional stakeholders.
• Proven project management and transaction execution skills in managing multiple investments simultaneously.
• Proficiency in Excel-based financial modeling and investment analysis tools.

 

Applicants must have legal authorization to work in the United States. We do not offer visa sponsorship at this time.