Commercial Manager

Crown Estate Scotland has an exciting opportunity for a Commercial Manager to join our Finance & Business Services team on a full time 12 months fixed-term basis. 

The purpose of this role is to support Crown Estate Scotland deliver against its core value of commercialism, and that it applies commercial acumen across the business to help grow revenue and capital. This translates into developing commercial approaches that deliver best value (within the context of Crown Estate Scotland’s wider environmental and socio-economic goals). The role involves both policy development/ implementation and direct participation in transactions.

About the role

The successful candidate for this role within the organisation will be responsible for:

• Providing commercial advice and guidance to Development Managers and Asset Managers to ensure compliance with vires, competition requirements and to manage key commercial risks. Managing via consultation with legal resources, commercial transactions including, but not limited to, commercial support during leasing rounds, overage events, rent reviews, lease and option extensions, area change requests, lease terminations and step through from options into leases, asset sales, acquisitions, developments and other property transactions.  The post-holder may also be expected to support these activities in regular management meetings and activities.
• Working with legal advisors on the development and amendment of contract documentation (development agreements, leases, template leases, sale documents, etc).
• Carrying out due diligence and reporting on potential new counterparties or tenants, for example on a leasing round, lease of a substantial or significant asset, change of project ownership/lease assignation, property transaction giving rise to a substantial income stream over a prolonged period, etc.
• Providing commercial and other support to the Senior Commercial Manager as required.
• Where appropriate, completing commercial reviews into the contract and pricing terms for the markets in which Crown Estate Scotland operates and to support the commercial implementation and negotiation of related initiatives.
• Providing commercial and planning inputs to relevant internal approval papers and business cases including overseeing the development of financial models and income forecasts to establish commercial returns.  This activity will be across all property sectors.
• Ensuring Crown Estate Scotland colleagues have the necessary understanding of, and comply with the commercial and administrative requirements for, each contract and transaction.
• Leading the development of discrete commercial policies, business cases, commercial governance processes and business planning when required. 
• Assisting in identifying opportunities for revenue and capital growth and commercialisation, as well as potential cost minimisation such that transaction margins are enhanced, and leading on taking forward some of these initiatives.
• Working across the business, and with the various teams including Finance, Property, and Marine to manage and ensure the key commercial aspects of transactions with third parties meet the requirements of the business.  This will include, where appropriate, income optimisation, legal and statutory compliance, compliance with the Scottish Public Finance Manual and alignment with the risk appetite set by the Board.
• Supporting with the business’s commercial policies, ensuring that they are up to date, implemented, applied consistently across the business and appropriately incorporated in property activities and transactions. 
• Engendering, developing and promoting commercial good practice and a culture of commercial awareness throughout the business, specifying and sourcing appropriate staff training and development resources.
• Improving customer service and experience through understanding customer requirements and establishing a balance between meeting these, risk exposure and securing the best outcome for Crown Estate Scotland.
• Supporting in developing portfolio performance processes and reporting. 
• Ensuring that property portfolios are correctly and timeously valued by appropriately accredited valuers.
• Ensuring that adequate and appropriate insurance is in place always for the property portfolio, employees and directors, business premises and activities and corporate purposes, as required.
• Applying rigour, risk management and process to ensure the integrity and efficacy of property transactions and their outcomes for Crown Estate Scotland.
• The above list of responsibilities is not exhaustive, and the post holder may be required to undertake other responsibilities and training as requested by their Line Manager, appropriate to the grade.  Further, all Commercial Team members will be expected to work flexibly across all the dimensions of commercial work.

The contractual working location of this role is our Edinburgh office. 

The salary will be £58,430.  The role also benefits from 25 days’ annual leave, plus 11.5 of public/ privilege days.  Crown Estate Scotland encourage flexible working and operate a discretionary flexi-time scheme.  This role offers participation in the Civil Service pension scheme.  Contribution levels for the scheme are currently 7.35% employee contribution at the entry salary for this role whilst Crown Estate Scotland contribution levels are 28.97%.

About You

You should:

Essential

• Have experience of and be skilled in contract negotiation.
• Have excellent written skills with experience of working with legal teams to prepare commercial contractual documentation to the highest standards.
• Have experience of programme and management of projects involving capital expenditure.
• Have practical experience of risk assessment, mitigation and management.
• Have experience of carrying out due diligence on potential counterparties including financial capability and covenant strength.
• Be numerate and able to demonstrable understanding of commercial modelling in Excel (i.e. cognisant of NPV, IRR calculations and how they relate to commercial positions).
• 2+ years contract management, planning and delivery and compliance as a contracting authority, or 2+ years in a real estate environment, or 2+ years in a portfolio management role.
• Experience of carrying out due diligence on potential counterparties including financial capability and covenant strength.
• Practical experience of risk assessment, mitigation and management.

Desirable

• Experience gained in utilities/ renewable developers and/or real estate.
• Knowledge of public policy in relation to procurement.
• Numerate/Business degree.
• CIPs or other procurement qualification.

You will have the following qualities, which are key to success in this role:

• Proven ability to focus on key priorities when under time pressure and to manage competing demands.
• Proven ability to work with colleagues and customers from a wide variety of different business backgrounds and to articulate, succinctly, commercial positions and requirements in a professional and appropriate way.
• A dynamic and enthusiastic, hands-on approach.
• An aptitude for working autonomously with minimal supervision.
• Embraces, and actively seeks out, opportunities for knowledge and learning.
• Attention to detail and applies rigour whilst maintaining sight of the wider business implications.
• A high moral code and level of integrity, demonstrating Crown Estate Scotland’s business principles and values in all aspects of their day-to-day duties.
• To act in a confidential manner when dealing with Crown Estate Scotland activities whilst promoting and safeguarding the values of the organisation.
• An interest in, and excited by, the prospect of taking the commercial lead on unique and challenging projects.
• A healthy curiosity and willingness to challenge.
• Excellent communication skills.

Crown Estate Scotland is committed to diversity and inclusion, and we encourage applications from people from all backgrounds. We want to ensure every candidate has a positive experience and can most effectively demonstrate their suitability for the role they are applying for.  Please tell us if there are any reasonable adjustments we can make to help you in your application or with our recruitment and selection process. 

We welcome requests to work on a job share basis and/or secondments.