Transaction Manager - Project Finance Group

Transaction Manager - PFG

Job Purpose :

- To Independently manage a part of the balance sheet of the company by managing portfolio of loan assets & relationships

- To independently lead transaction execution with support from AMs / Managers. This includes originating new business, leading negotiations with clients, guide transaction managers to prepare Proposals and due diligence and obtaining internal approvals

Principal Accountabilities :

Business Development / Deal Origination :

- Provide structured solutions to clients by assessing clients needs

- Undertake organized tracking of sectors / clients through AMs / Managers

- Build network with all stakeholders in infrastructure sectors (Banks/FIs, Infrastructure companies, consultants financial/technical/legal/others, suppliers etc)

- Interaction with top management of the client to gain insights about the company and the sector

- Make a pitch to client for project finance / structured solutions

- Negotiate with Clients (& internally) on a Bespoke Term Sheet incorporating commercial and legal conditions. As there are no standard products, funding solutions are provided on case-by-case basis. Further, product level innovations are required so that L&T Infra as an NBFC remain competitive in the market.

Credit Appraisal and Due diligence :

- The role requires a Senior Manager to mentor and guide transaction teams in Credit Appraisal and Due Diligence. Senior Manager is expected to concurrently manage multiple deals at various stages as a Transaction Leader to ensure that the Credit Appraisal and due diligence process meets the quality parameters and timelines

- With an experience of closing multiple deals in past, the Senior Manager is expected to proactively identify key risks in the proposal, negotiate and incorporate necessary risk mitigants.

- With in-depth knowledge of market and clients, a Senior Manager is expected to provide insights to Regional Heads on the financial viability of a project to take initial No-No Go decision, avoiding man-hour loss in projects found unviable on detailed analysis.

- Senior Manager acts as the primary person for all negotiations with the client and to get the buy-in of other internal departments (risk, legal etc) and make a convincing pitch of the proposal to the Top Management and the Investment and Credit Committee (ICC). Considering complex nature and long horizon of infrastructure projects (technology, regulatory, legal etc), a Senior Manager should have indepth understanding of critical issues and negotiation skills/persuasion abilities to get the projects having sound business case approved by the top management and the ICC.

- The role requires Senior Manager to mentor and guide transaction teams to undertake a detail appraisal and due diligence of the project/proposal (Technical/Financial/Legal/Regulatory etc) and prepare a customized Appraisal Note for consideration for sanction by the Investment and Credit Committee. Each proposal is fairly customized and requires the Senior Manager to structure the Appraisal Note to best represent the project/proposal.

Closure of Financing document :

- Senior Manager oversees the preparation of legal documents by the transaction teams and negotiate with client and internal legal department for successful closure of the legal documents. A Senior Manager is expected to take independent calls on legal/commercial/contractual negotiation aspects except for critical commercial terms like interest/security and tenure which need approval of higher authorities.

- Post sanction of the proposal and issue of Sanction Letter, Coordinate and negotiate transactions & related documents with banks, legal firms and clients :

a) Preparation, Negotiation, and Closure of Transaction/Finance Document

b) Appointment of Lenders Consultant (Lenders Engineer, Lenders Insurance Agent, Lenders Legal Counsel) for evaluation of Project document etc. and Checking of Insurance Policy

c) Compliance of all Pre-Commitment condition and Pre-disbursement Condition

d) Complete the process of security creation and perfection, compliance, and disbursement

Portfolio Management :

Post signing of the - Financing Document, active monitoring of the project on a continuous basis with regular engagement/ interaction with Client, Owners Engineer, Other Stakeholder, Lenders Consultant. Key responsibilities :

- Collection of receivables and TDS Certificates

- Actively tracking client performance

- Management of stressed assets

- Insure compliance of covenants

- Site Visit

- Regular meeting with all the stakeholders

- Regular review of periodic reports prepared by Lenders Engineer, Lenders Insurance Agent, submitted by them Developer

- Regular interaction with other Lenders (Financial Institution who are co-lender or lent for other projects) to keep a tap on financial health of the Borrower, Payment track record and rating maintained by other financial institution

Dimensions :

Financial Dimensions :

Portfolio Management, Revenue and Profit : Managing a portfolio of 7 clients with total portfolio size ranging from Rs 500 Crore - Rs 750 Crore . This would yield a revenue and PAT of Rs 90 Crore and ~ Rs 18 Crore respectively. Disbursement:- Responsible for disbursement target of Rs 500 - 750 Crore per annum based on regional business plan. Sanction (Business Pipeline):- Responsible for sanctioning new loans of Rs 1,000 Crore - 2,000 Crore per annum with ticket size ranging from Rs 100 Crore - Rs 400 Crore.

Fee Based Income : Responsible for achieving fee based income (cross selling):- Rs 3 Crore- 5 Crore per annum.

Portfolio Quality : Ensure balance between disbursement/asset growth target and portfolio quality above particular rating levels and managing stress and non performing assets below acceptable level.

Other Dimensions :

- Number of credit analysis per year

Initial Screening (Go-No Go) : 25 deals

Basic Analysis (Flash/Brief Note to Credit Committee) : 10-12 deals

Detailed Appraisal : 5 - 8 deals

- Handle existing relationship with 7 client group.

- On transaction to transaction basis, manage 1-2 Assistant Managers

Skills And Knowledge :

Educational Qualifications and Experience :

- MBA/CA with 6-10 years experience in Infrastructure Sector (Project Finance experience with Banks/FIs/Credit Rating Agency/Investment Bank)

- In-depth understanding of Project Finance concepts, Public private Partnership (PPP) model and associated risks

- Practical knowledge of closing Project Finance and Structured transactions in multiple sectors

- Ability to handle transaction teams to ensure concurrent handling of multiple transactions

- Sector knowledge (Technical, Regulatory, Contractual Structure, Performance of Key Players etc) in key infrastructure sectors (Power - Generation and T&D, Roads, Ports, Telecom, Construction, Urban Infrastructure)

In-depth understanding of key Acts/Regulations/Order :

- RBI/NBFC/SEBI/FEMA etc

- Regulatory Authorities of each Infrastructure Sector

In-depth understanding of legal aspects in banking, Legal documentation, Contracts, Litigation, Arbitration/SARFAESI/DRT/CDR etc

Networking Skills :

- Should have existing relationships with Promoters/MD/CFO/CEOs of key infrastructure players, senior personnel in Banks/FIs/Investment Bank/PSU/Regulators in Infrastructure, bureaucrats, sector experts and other stakeholders in Infrastructure sector

Communication Skills :

- Ability to effective/persuasive communicate funding rationale to Senior Management and Investment & Credit

Committee :

- Ability to interact and manage client relationship at various level (Promoter, Finance, Accounts, Legal, Technical and Operations etc) in order to gain in-depth understanding of client's business, financial and operational performance and successfully close the transaction

- Ability to interact and negotiate with professionals in various fields (Legal - Internal, Client side and external legal counsel for Documentations/Contracts/Litigation, Technical Experts in various sectors, Finance - Consultants and Client side, Compliance & Regulatory - Internal and Client side) and resolve differences/views to achieve faster deal closure

Managerial Skills :

- Ability to mentor and guide transaction teams consisting of Assistant Manager and Managers on Project Appraisal and internal processes

- Ability to handle multiple transactions across sectors and at various stages of appraisal, maintaining the Turnaround time at minimal which ensuring quality of appraisal and knowledge transfer to peers/juniors

K Kumar
Sr Account Manager
New Era India Consultantcy Pvt Ltd
New Delhi
011 - 48888533