Project finance is a method for funding projects that involves non-recourse loans. This means that lenders are repaid with profits generated by projects that they helped to fund. Project finance recruitment often begins at the executive level. Executives might decide on projects that they believe can help their companies grow and increase in profitability. After designing a plan that includes expenses, they might contact human resources to inform department representatives that they would like to begin a project finance recruitment process.
The qualifications of a project finance professional depend on factors such as the size of an organization, the complexity of a project, and the industry in which an organization operates. A large corporation embarking on a project that includes expansion into different countries, for example, might require that project finance professionals have experience working on large scale projects in a global context. In most cases, this kind of professional has academic degrees in fields such as finance, management, or economics. He or she also might have some years of experience performing financial planning and management duties in a related industry.
When executives decide to begin a project finance recruitment process, they usually have a list of desired qualifications. It often is the case that professionals begin by seeking to hire from inside of their own companies. Finance and management professionals who worked for within a certain organization already understand its corporate culture and philosophy, and are likely to already have a strong background in its industry. When professionals are promoted from within an organization, their colleagues also might continue to perform well, knowing that they have opportunities to take on more responsibility and to earn higher pay.
Project finance recruitment might involve going outside of a company in some scenarios. One common situation in which executives must look outside of their company for this kind of professional occurs when an organization is relatively small. A company with only a few employees simply might not be able to spare the professionals essential to the functioning of their organization by allowing them to transition to a project finance position. Organizations that have limited budgets might not be able to support a full time, high level financial professional. In these cases, executives might contract with a third party financial analyst.
Another factor considered in project finance recruitment is the objectivity of a finance professional. An individual from inside a company might be biased toward his or her company and potentially can have unrealistic expectations. By hiring a project finance professional from outside a company, executives might be able to view goals and challenges from different perspectives.