Chief Financial Officer (Hybrid, Must be located in the New York Metropolitan Area )
FLSA Classification: Exempt
Salary Range: $250,000 - $275,000 Base, plus bonus and incentive stock options
Chief Executive Officer
About The Company:
NineDot's name derives from the classic mathematical puzzle for sparking out-of-the-box solutions. As a leading community-scale, clean energy developer with a growing portfolio of projects across a range of technologies, NineDot Energy is creating innovative energy solutions that support a more resilient electric grid, deliver economic savings, address environmental justice and reduce carbon emissions. We plan to develop, build and operate more than 400 MW of clean energy systems by 2026 that will strengthen the local power grid infrastructure and provide clean, reliable and resilient power to tens of thousands of New York households and businesses. This is all in support of New York State’s mission to achieve 100% clean energy by 2040.
With the backing of the Carlyle Group - one of the largest private investors in renewable energy - NineDot is rapidly expanding its core team to scale its energy storage pipeline and continue innovating new products (e.g. vehicle-to-grid, community energy, etc.) to advance the decarbonization of New York’s grid. This is an exciting opportunity to build a platform from the ground-up with a world-class team of developers and innovators. NineDot is committed to building a company that exemplifies diversity, equity and inclusion values in its team culture, as well as business practices and community engagement.
In this new role, you will provide strategic leadership for our Finance department including our Project Finance, FP&A, and Administrative Accounting functions as well as managing our approach to raising capital and investor relations. The CFO will serve as a member of the Executive Team and will oversee all aspects of the Company’s structured finance, financial planning, cash management, tax and accounting, risk management, and financial reporting functions. This role will interact with the Board of Directors and be a highly visible leadership position within a growing renewable energy organization. The successful candidate will have a strong working knowledge of all aspects of a renewable energy project portfolio, including renewable energy finance, construction finance and the economics of asset management. The CFO will act as the Executive Financial Leader across the organization working closely with the CEO on the organization’s operational and corporate finance strategy with a focus on initiatives for optimizing current energy storage assets and long-term growth goals. The candidate will need to demonstrate solid proficiency of unit economics and keen understanding of optionality involved in developing projects and new product lines. This individual will be developing and executing strategy that will impact the company in the next stages of growth. This is a great opportunity for a nimble, bold, innovative financial leader to make a major impact in the fight against climate change.
- Provide strong leadership as a member of the executive team including strategic vision and tactical execution to drive revenue growth, profitability, and capital management
- Collaborate with the executive team to develop and execute the company's overall strategy and goals
- Manage and develop the finance team, including recruiting and hiring new team members, providing ongoing training and development, and conducting performance reviews
- Stay current on the trends in the renewable energy and finance markets and project impacts on future financial growth, profitability, and strategic implications for NineDot
- Oversee the handoff process between project finance, operations and asset management and improve transaction efficiency
- Support project development efforts by partnering with other company business units (origination, development, operations) to internalize financing conditions and requirements into company processes
- Manage the different types of project financings which include construction loans, term debt and tax/project equity, etc.
- Ensuring a governance structure is in place to achieve sustainably effective and efficient operational execution that increases shareholder value and facilitates employee and organizational well-being
- Accountable for all finance and accounting activities in the organization including management reporting
- Leads and ensures all financial processes, required to support performance management and effective execution are in place, including strategic planning, annual operating plans, rolling forecasts, sales & operations planning, and supporting models for revenue/pricing, margin analysis/control, and capital expenditure planning
- Assists in the implementation and/or maintenance of management control systems for other departments e.g. actual expenditure vs budget, product costing system, sales reporting and variance systems, and sales cost reporting, these reports will also be used by the Finance department to be informed of day to day trends and to suggest potential improvements when appropriate
- Based on forecasts, and regular updates from operating groups, anticipate cash flow needs and ensure availability of funds to meet all commitments
- Develop and implement financial strategies to support the growth and sustainability of the company
- Provide financial analysis and insights to guide decision-making across all areas of the business, and providing recommendations to the executive team
- Ensure the company is compliant with all financial regulations and reporting requirements
- Oversee the company's cash management, capital planning, and investment activities
- Lead the financial due diligence process for potential acquisitions and partnerships
- Manage financial risks associated with the business, such as currency risks, commodity price risks, insurance and other financial risks
- Develop, leverage, and manage relationships with banking/financing partners
- Advise on and manage M&A activities including: financial due diligence, valuation, financing, integration planning, risk management, reporting and disclosure, tax planning, negotiation, and post-merger integration
- Place financial hedges as appropriate
Competencies for Success
- Problem Solving - Uses rigorous logic and methods to solve difficult problems with effective solutions; conducts excellent and honest analysis; looks beyond the obvious and doesn’t stop at the first answer.
- Interpersonal Savvy - Able to relate well to all individuals within and beyond the organization; builds appropriate rapport along with constructive and effective relationships; uses diplomacy and tact.
- Perseverance - Pursues everything with energy, drive, and a need to finish; seldom gives up before finishing, especially in the face of resistance or setbacks.
- Dealing With Ambiguity - Can effectively cope with change and shift gears comfortably; can decide and act without having the total picture.
- Creativity - Capable of coming up with new and unique ideas; easily makes connections among previously unrelated notions.
- Technical Learning - Picks up on technical things quickly, capable of learning new skills and knowledge, good at learning new industry, company, product, or technical knowledge.
- Intellectual Horsepower - Demonstrated ability to deal with concepts and complexity comfortably; described as intellectually sharp, capable,and agile.
- Developing Direct Reports and Others - Provides challenging and stretching tasks and assignments; holds frequent development discussions; cooperates with the developmental system in the organization; is a people builder.
- Building Effective Teams - Creates strong morale and spirit in his/her/their team; shares wins and successes; fosters open dialogue; lets people finish and be responsible for their work; creates a feeling of belonging in the team.
- Innovation Management - Is good at bringing the creative ideas of others to market; has good judgment about which creative ideas and suggestions will work; has a sense about managing the creative process of others; can project how potential ideas may play out in the real world.
- Planning - Accurately scopes out length and difficulty of tasks and projects; sets objectives and goals; breaks down work into the process steps; anticipates and adjusts for problems and roadblocks; measures performance against goals; evaluates results.
- Drive for Results - Can be counted on to exceed goals successfully; is constantly and consistently one of the top performers; very bottom-line oriented; steadfastly pushes self and others for results.
- Strategic Agility - Sees ahead clearly; can anticipate future consequences and trends accurately; has broad knowledge and perspective; is future oriented; can articulately and paint credible pictures and visions of possibilities and likelihoods; can create competitive and breakthrough strategies and plans.
- Managing Through Systems - Can design practices, processes, and procedures which allow managing from a distance; is comfortable letting things manage themselves without intervening; can make things work through others without being there; can impact people and results remotely.
- Managing Vision and Purpose - Communicates a compelling and inspired vision or sense of core purpose; talks beyond today; talks about possibilities; is optimistic; creates mileposts and symbols to rally support behind the vision; makes the vision shareable by everyone; can inspire and motivate entire units or organizations.
- Master’s degree in Finance or MBA; CPA or CMA is highly desirable
- 10+ years of successful experience as a senior level executive
- 10+ years in a progressively responsible financial and operational leadership role, preferably in the energy sector
- Experience in renewable energy financing, including tax equity, back leverage, and project finance is preferred
- The ability to impact and collaboratively lead a diverse stakeholder group ranging from the executive leaders, internal teams, partners, vendors and customers
- Adept at building strong relationships and seamlessly able to partner with the current executive team
- Initiative, persistence, an entrepreneurial spirit and energy with the desire to be part of a fast-growth start-up environment
- Outstanding interpersonal, communication, and presentation skills with the ability to communicate solution value propositions to the executive team and the wider organization
- Prior experience with M&A business transactions and post-acquisition integration is highly desirable
- Start-up experience required, including early to mid-stage funding strategy and option analysis, and strong understanding of structuring term sheets / agreements across a variety of financing vehicles
- Prior experience with leading a company to IPO a plus
Reasonable accommodations may be made to enable individuals with disabilities to perform these essential functions.
Affirmative Action/EEO statement
We are proud to be an Equal Opportunity/Affirmative Action Employer and committed to leveraging the diverse backgrounds, perspectives and experience of our workforce to create opportunities for our colleagues and our business. We do not discriminate on the basis of race, color, national origin, religion, gender expression, gender identity, sex, age, ancestry, marital status, protected veteran and military status, disability, medical condition, sexual orientation, genetic information, or any other status of an individual or that individual’s associates or relatives that is protected under applicable federal, state, or local law.
Some of NineDot roles require that individuals be fully vaccinated against COVID-19, subject to exemptions for medical or religious reasons, as well as any other reason required by applicable law or order. Should you be selected for an interview, your recruiter will provide additional information.