Position: Managing Director
Organization: Community Power Fund, www.cpfund.ca
Location: Toronto, Ontario
Deadline: Friday September 3, 2010
The Community Power Fund is a non-profit co-operative corporation founded in 2006. CP Fund’s initial program was a project development grant program open to Community organizations wanting to develop and own renewable energy projects of any size. In 2009, the original grant program was replaced with the Community Energy Partnerships Program, a new grant program aligned with Ontario’s Feed-in-tariff program. CP Fund and Deloitte co-manage the fund on behalf of the Ontario Power Authority.
CP Fund’s mission is to be the most trusted and effective financial enabler for community owned renewable power in Canada. As part of its mission and mandate, CP Fund is in the process of developing a new entity, Community Power Capital, to pool and deploy community investment capital into Community Power projects in Ontario. Through a series of warehouse investments in Feed- in-tariff (FIT) contracted Community Power projects, CP Capital will be in a position to launch its first Fund of $20 million by the end of 2010.
CP Fund is seeking an innovative, creative and experienced Managing Director to lead CP Capital in the formation and close of its first Fund, and the many Funds that will follow given the number of projects seeking investment and the number of qualified community investors seeking lucrative and secure triple bottom line investment opportunities. The Ontario Green Energy and Economy Act and Feed-in-tariff program include several policy incentives and instruments to support the development and growth of Community Power. Community Power offers a new asset class for triple bottom line investment backed by 20 year FIT contracts.
One of the key challenges for an organization such as CP Fund is finding staff with the skills required from very different and distinct areas, such as:
• Knowledge of both the energy industry and community power sector,
• Skills in technical and environmental assessment,
• Financial skills in fund development and management, as well as financial assessment, and
• Understanding of the changing regulatory system as it relates to
renewable energy, social finance, tax regimes, co-operatives and
community-ownership.
The management team must demonstrate top quartile performance in fund
management, benchmarked against financial markets comparables, in the
following context:
• Through creative application of social finance and fund development, and
• For the purpose of making progress towards the mission.
The core Management Team will consist of the Managing Director, Director of Community, an Investment Officer and a Financial Services Program Director. Additional staff will include an Investment Analyst and other support positions as required.
Managing Director
Reports to:
o Board of Directors
Direct oversight:
o Investment Officer
o Financial Services Program Director
o Director of Community
The main tasks of the Managing Director are:
o Lead strategy development, implementation and performance
monitoring to ensure progress towards identified goals,
o Operate governance process as established,
o Prepare and deliver reporting to the board and stakeholders as
required,
o Hire and manage staff,
o Manage operations in line with values,
o Lead fund development, and
o Promote CP Capital.
Core Responsibilities:
• Design, launch, expansion and senior management of all CP Capital
activities, including:
o Financial Services Programs
Financial Literacy
Financial Advisory
o Direct Investment Funds
Private Equity & Special Purpose Debt Funds
Flow-Through Share Vehicles
Longevity Funds: Co-op Lending and Investment Funds
o Fund Management & Fiduciary Services
Co-Managed Offerings for Local Funds
Fiduciary & Compliance Services
• Source, close and exit CP Capital deals with keen awareness to balancing
financial, environmental and social returns
• Attend Board meetings and act as liaison between the Board and CP Capital
Investment Committee and Advisory Committee
• Serve as board director for key CP Capital investees and represent CP
Capital in most important matters where key clients and partners are
concerned.
The key skills required are:
• Organizational development and management,
• Fund development and management,
• Creativity, adaptability and charisma, and
• Strategic management and partnership building.
Qualifications:
• At least five years experience and strong performance track record as a
senior partner or managing director of an established private equity firm
investing in clean technologies, renewable energy, environmental
infrastructure or like
• Comprehensive knowledge and ability to communicate complex financial
concepts and investment strategies to investors across the capital spectrum, from grant makers and governments to investment grade debt and equity providers
• Experience and success creating public-private partnerships
• Positive track record building and managing high performance teams
• Demonstrated experience or interest balancing financial, social,
environmental impacts through market mechanisms
• Entrepreneurial experience preferred
Salary:
CP Fund is prepared to offer a competitive base salary and bonus structure for this position. Please submit your resume in confidence by 5:00 pm on Friday September 3, 2010, to:
Community Power Fund
30 Duncan Street, Suite 203
Toronto, Ontario, M5V 2C3
Fax: 416-597-6953
Email: info@cpfund.ca
