ING – Position Description Associate – Energy About ING: Crain's 100 Best Places to Work Ragan's Top Places to Work in 2023 In Americas, ING's Wholesale Banking division offers a broad range of innovative financial products and services to domestic and international corporate and institutional clients.
When you come to work at ING, you're joining a team where individuality isn't just accepted, it's encouraged. We've built a culture that's fun, friendly and supportive – it's the kind of place where you can be yourself and make the most of whatever you have to offer.
We give people the freedom to take risks, think differently, take ownership of their work, and make great things happen. We're here to help you get ahead. And with our global network, there's plenty of scope to take your career in new directions, perhaps even ones you've never considered.Sound like the kind of place you'd feel at home? We'd love to hear from you.
The Opportunity: The Energy team is part of ING Global Sector Coverage which covers the energy value chain including oil & gas production, transport & storage, traditional and renewable power generation, and new energy technologies (CCUS, batteries and hydrogen). As an Associate for the Energy team based in New York, you will be responsible for:
New Deal Origination / Execution: Support MDs, Directors and VPs on the Energy Team in the origination of and/or participation in corporate and project financings related to Midstream & Downstream oil & gas and New Energy Technology transactions. Responsibilities include but are not limited to (i) preparation of marketing/pitch material new financing opportunities; (ii) structuring new lending transactions by analyzing risk/return and developing project finance debt models; (iii) underwriting and executing new transactions including performing due diligence, preparing internal approvals (green-light memos, credit applications and ancillary documents, performing due diligence, legal documentation and closing; (iv) onboarding of clients/ borrowers including conducting KYC; (v) assisting in development of client strategies such as capital structuring or M&A transactions in Energy through coordination with other product teams (e.g. Financial Markets, Debt Capital Markets, Syndications, Corporate Finance); and (vi) assisting in developing market intelligence and industry expertise by preparing market updates and/or research for new technologies (energy storage, carbon capture & sequestration, hydrogen, renewable natural gas, biofuels, etc.)
Portfolio Management:Support MDs, Directors and VPs in monitoring of the loan portfolio which includes preparing and processing annual credit reviews, preparing and processing loan modification/amendment requests, tracking covenant compliance and maintaining internal portfolio tracking metrics, reviewing legal documentation, maintaining credit files and loan documentation, reviewing and processing borrowing and disbursement requests, renewing internal risk ratings, preparing quarterly watchlist reports for distressed/provisioned credits, and preparing periodic pipeline and profitability reports. Role involves frequent interface with Risk Management, internal/external legal counsel, and Loan Operations.
Requisite Skill Set: 4-5 years of relevant project/corporate finance experience ideally in Midstream & Downstream oil & gas or general Energy transactions
Bachelor's Degree in Accounting, Finance, Economics or Math
Team Player, self-motivated high quality/high quantity producer
Strong written and oral communication skills; detail-oriented and accurate
Ability to manage multiple projects simultaneously and meet strict deadlines
Proficiency in MS Office (Excel, Word, PowerPoint): Strong Excel skills and ability to independently work on financial debt projection models
Fundamental understanding of GAAP accounting principles and comfort with core financial statements (Income Statement, Cash Flow Statement and Balance Sheet
Fundamental understanding of key financial markets and products
Basic understanding of corporate and bankruptcy law
Other: Case Study including writing sample and a basic debt modeling test
References
Salary Range: $120,000 - $155,000
ING is a committed equal opportunity employer. We welcome applicants of diverse backgrounds and hire without regard to color, gender, religion, national origin, citizenship, disability, age, sexual orientation, or any other characteristic protected by law. We celebrate these differences and rely upon your unique perspective to innovate and seize new opportunities. Come as you are. ING Bank does not have a commercial banking license in the U.S. and therefore not permitted to conduct a commercial banking business in the U.S. Through its wholly owned subsidiary ING Financial Services LLC, and its affiliates, it offers a full array of wholesale products such as commercial lending and a full range of FM products and services.
