Senior Associate - Project Finance & Infrastructure

Overview

This role supports Investment Management Operations managing over $50 billion of general account assets, with a cross-asset approach serving the needs of the organization’s insurance products and customers.

The Investment Management Operation is seeking an experienced Analyst to participate in the sourcing, underwriting, execution, and ongoing management of Project Finance & Infrastructure fixed income investments, primarily in private markets. Key work includes detailed credit analysis, financial modeling, and review of financing and legal documentation, in collaboration with internal and external partners.

Responsibilities

• Analyze Project Finance & Infrastructure debt opportunities through evaluation of project economics and cash flows, industry fundamentals, counterparties and sponsors, contractual arrangements, transaction structures, collateral, and other relevant credit considerations.
• Develop, review, and sensitize detailed project-level cash-flow models to evaluate debt service capacity, leverage, coverage ratios, liquidity, downside resilience, and other key credit metrics.
• Assess assumptions and perform scenario and sensitivity analysis to understand impacts on credit performance, identifying key value drivers.
• Review and analyze key transaction and legal documents, which may include financing agreements, purchase agreements, concession agreements, power purchase agreements, offtake agreements, construction contracts, operating agreements, and other material project documents.
• Work with internal and external legal counsel to identify and assess provisions relevant to investment risk and structural protections.
• Review and synthesize financial, technical, legal, commercial, and market information to identify issues most material to investment performance and translate complex information into clear, concise, and well-supported recommendations.
• Monitor existing infrastructure and project finance investments, assessing ongoing performance, credit quality, cash flow projections, covenant compliance, and market developments affecting portfolio risk and returns.
• Build and maintain productive relationships with internal stakeholders and external market participants, including placement agents, sponsors, issuers, legal counsel, consultants, rating agencies, and other parties.
• Coordinate with Portfolio Management, Legal, Investment Operations, and other internal teams throughout underwriting, documentation, closing, and ongoing investment management.

Requirements

• Bachelor’s degree in Finance, Accounting, Economics, Business, or a related field.
• At least 3 years of experience analyzing investments, private credit opportunities, infrastructure assets, project finance transactions, or fixed income securities.
• Strong fundamental credit analysis, cash flow modeling, and valuation skills.
• Demonstrated ability to evaluate risk, perform independent research, and develop data-driven investment recommendations.
• Strong written and verbal communication, with the ability to present investment ideas and collaborate effectively across teams.

Preferred Qualifications

• Advanced degree (MBA, Master’s in Finance, Economics, or related field) and/or progress toward the Chartered Financial Analyst (CFA) designation.
• Experience analyzing infrastructure sectors such as energy, utility, transportation, digital, social infrastructure and/or renewable energy projects.
• Knowledge of project finance structures, private placement market, and infrastructure credit underwriting.

Compensation & Benefits

• Estimated salary:
  • Associate (3–5 years experience): $105,000 – $120,000, plus annual bonus opportunity
  • Senior Associate (5+ years experience): $120,000 – $140,000, plus annual bonus opportunity
• 401(k) plan with a 2% company contribution and 6% company match.
• Vacation, personal time, and paid holidays.
• Applicants for this position must not now, nor at any point in the future, require sponsorship for employment.

Location

This role is classified as remote; however, periodic in-person attendance will be required at times for activities such as quarterly or project planning, training, or other business-critical meetings.