Associate – Tax Credit Investments

The Associate – Tax Credit Investments (TCI) is responsible for supporting the tax credit investment platform, with a focus on solar and battery storage. Responsibilities will range from supporting deal origination and structuring to capital deployment and asset management.

Duties and Responsibilities:

• Assist in the financial, commercial, and technical analysis and underwriting of renewable tax equity investments and tax credit transfers.
• Prepare and manage timelines and responsibilities, and support the assigned AVP on tax equity and ITC transfer transactions as directed.
• Assist in drafting and reviewing transaction documents alongside legal counsel. Track and manage conditions precedent and closing checklists for fundings.
• Build and maintain relationships with internal resource teams (business development, diligence, and accounting) and external teams (legal counsel, tax equity investors, advisors, independent engineers, appraisers, etc.) to establish and monitor work streams.
• Prepare financial analyses in support of contract negotiations and project investment decisions.
• Support the TCI Capital Deployment Team, which is responsible for reviewing and funding tax credit investments. Duties include reviewing document diligence, managing data, creating flows of funds, organizing data rooms, and supporting AVPs and investors.
• Support the TCI Asset Management and Reporting Team. Duties will include investor reporting, developer and project scorecards, cash distribution statements, and construction and compliance reporting.
• Develop and manage accurate financial models in MS Excel for internal and external audiences.
• Prepare and enhance presentation materials for corporate management and project investors. This may include financial analysis, investor marketing materials, and investment underwriting packages.
• Maintain and improve project workflow and investor communication software.
• Other responsibilities as assigned.

Minimum Qualifications:

• Bachelor's degree in Accounting, Finance, Economics, Operations, or another related field preferred. An equivalent combination of education and relevant experience may be considered in lieu of a college degree.
• Two or more years of related experience in energy project finance, preferably at a developer, investor, or other relevant service provider (i.e., law firm, accounting firm).
• Proficient in financial modeling concepts and valuation skills, including DCF, ROI, NOI, etc.
• Highly skilled with MS Excel and skilled with other MS Office products, including PowerPoint and Word. Familiarity with integrating work automation with AI tools such as Claude and Copilot is a plus.
• Understanding of partnership tax concepts is a plus.
• Self-starter with a strong sense of ownership and responsibility.
• Ability to communicate effectively, verbally and in writing, and collaborate internally and externally.
• Ability to effectively manage multiple deadlines and work in a fast-paced, rapidly changing environment.
• Strong grasp of financial accounting principles, project management, and attention to detail.

Compensation

Key State offers a competitive compensation structure designed to reward performance, long-term relationship development, and growth. Compensation includes:

• Performance-based incentive opportunities.
• Comprehensive benefits including health, dental, vision, and retirement plan.

Total compensation is commensurate with experience, education, and qualifications.

This position may work from any of Key State's offices located in Las Vegas, NV;
Denver, CO; or San Francisco, CA, or may potentially work remotely. Some business travel is required. At Key State, we value all employees and job candidates as unique individuals and welcome the variety of experiences they bring to our company. We maintain a strict non-discrimination policy and believe everyone should be treated equally regardless of race, sex, gender identity, sexual orientation, national origin, native language, religion, age, disability, marital status, citizenship, genetic information, pregnancy, or any other characteristic protected by law.

Founded in 1991, Key State is a rapidly growing, privately held financial services firm specializing in providing tax-advantaged investments to community banks. With over $18 billion in assets under management, Key State has managed investment subsidiaries for community banks for over 35 years.

Since launching its captive management practice in 2008, Key State has formed and managed captives for over 100 companies across the U.S.

In 2019, Key State launched a renewable energy tax credit investment platform for community banks. Key State helps community banks source, underwrite, and manage tax credit investments. To date, Key State has raised and deployed approximately $1 billion in tax credit capital for community banks, financing over 200 renewable energy projects across the U.S.