We Are Hiring!

Principal Engineer

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Posting Date:  December 2020
Schedule:         Full Time
Location:          San Francisco Bay Area, CA

Position Summary

New Energy Risk (NER) has reached an inflection point across several high-growth sectors with enormous potential. Inbound deal flow has accelerated, and we now have the increasing need to hire a self-starting individual who can work both independently and collaboratively with colleagues to lead technical diligence efforts for some of our clients. The principal engineer, reporting to the chief science officer, will be responsible for outward day-to-day interactions with client technical teams for a significant portion of NER’s pipeline. The principal engineer’s overall goal is to work with clients to understand their unique technologies and perform technical risk analyses as part of our in-depth diligence process.

NER is a unique company at the intersection of technical diligence and structured project financing. An ideal applicant for the principal engineer will have skills relating to these disciplines:

  1. Technical background and experience in independent technical review. NER works with novel and innovative technology suppliers and developers to facilitate their projects. A successful candidate will be skilled at independently performing reviews of client technology (including technologies with which the candidate has limited or no prior experience), placing it within market and technical contexts, asking situationally appropriate questions, and evaluating client-supplied materials. Experience in the engineering design, development, and commissioning process for infrastructure projects (including FEED or FEL engineering, FMEA analysis, RAM analyses, P&IDs, HMBs, risk registers, commissioning plans, and commissioning operations) is ideal.
  2. Project development literacy. NER facilitates project financing across a variety of technical sectors, countries, and capital providers. A successful candidate will have general familiarity with project structuring and the various stages of project development. For example, this includes knowledge of the role of an EPC, Owner’s IE, and Lender’s IE in a project transaction.
  3. Empathy toward developer-clients. Like entrepreneurs, our project-developer clients are ‘going from zero to one.’ NER seeks to partner with these developers by providing a variety of support services during project development. A successful candidate will possess experience in entrepreneurial environments that helps them relate to the client.

Other day-to-day tasks for the principal engineer include but are not limited to:

  • Collaborating with colleagues on initial reviews of potential clients prior to engagement
  • Serving as a primary point of contact for the client technical team in their interactions with NER
  • Engaging in written and verbal communications with clients, both remotely and during on-site visits
  • Reviewing overview commercial information from a client to support the diligence effort
  • Working with clients to refine their project structures to better support or mitigate technical risks
  • Collaborating with colleagues to successfully transition clients to policy execution and insurance policy issuance
  • Auditing clients to check progress of technology development, system construction, or facility operation
  • Engaging in written and verbal communications with insurers, particularly insurer engineers, in support of insurance approvals
  • Meeting with NER ecosystem stakeholders, such as capital providers and insurance brokers
  • Attending and speaking at conferences and other industry events

With considerations in place for COVID-19 restrictions and CDC guidelines, eventual domestic and occasional international travel to client sites for audits and site visits is required (approximately 20%).

Company

New Energy Risk’s mission is to accelerate the deployment of impactful technologies that address global challenges through bespoke performance insurance solutions. We work across a range of breakthrough energy and other technologies, helping to insure their technical risk so that our clients can access efficient capital, accelerate their time to market, and achieve commercial scale – this is The Power of Certainty®. Over the past five years, NER’s small team has supported over $2 billion in unlocked capital across a range of projects, including fuel cells for Bloom Energy, RES Polyflow’s conversion of plastic waste to fuel, and the advancement of medical isotope technology by SHINE.

We are a leading solution provider in the new and clean technology insurance industry, developing innovative financing and insurance structures using capacity and resources from our affiliate, AXA XL (S&P Financial Strength Rating of AA- as of November 2020) and the support of renowned global reinsurers. With industry-leading expertise in the quantification and modeling of technology performance risk, NER is a small, tight-knit, and high-performing group of experienced individuals with backgrounds across risk analytics, engineering, actuarial science, underwriting, clean energy finance, and operations.

Qualifications

Required:

  • Bachelor’s degree in a technical field relevant to NER’s primary lines of business in waste conversion and energy storage (mechanical engineering, chemical engineering, materials science, or similar)
  • 5+ years’ experience in the engineering field supporting project development or engineering
  • Deep experience with independent technical diligence/review for projects (ideally as part of an EPC, IE, or other engineering support firm)
  • Exposure to project development
  • Demonstrated excellent verbal and written communication skills
  • Demonstrated excellent quantitative skills
  • Ability to multitask and manage multiple projects/clients at once
  • Highly organized and excellent attention to detail
  • Proficiency in MS PowerPoint, Word, Excel
  • A team player with a desire to work with close-knit and high-performing colleagues

Desired:

  • Master’s degree or other advanced degree in a technical field relevant to NER’s primary lines of business
  • Proficiency with Python, Matlab, Aspen
  • Familiarity with macrotrends in the renewable energy industry, both commercially and technologically
  • Familiarity with Salesforce or similar CRM systems

Compensation and Benefits

  • Salary commensurate with experience
  • Annual bonus incentive
  • Stock options
  • Unlimited vacation
  • Group health insurance options (including dental, vision, life)
  • 401(k)
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