VP Asset Management, Commercial - CRT1042
Our client is located in Houston, Texas and is in the management business dealing with power generation plants in Canada, the USA, Mexico and with plans to move into South American. They are in the Renewable Energy sector and deal with natural gas transmission and distribution. As an example, they have a 972 Megawatt gas fired power cogeneration plant on the East coast of the US and several similar plant scattered through North American and Mexico.
The VP Asset Management - Commercial is primarily responsible for effectively managing the North American regional portfolio P/L (i.e., costs and revenues) with a focus on optimizing wholesale and retail procurement strategies as well as maintaining and developing sourcing relationships and competitive price curves accordingly. The VP Asset Management - Commercial will also manage the portfolio in accordance with the risk parameters/guidelines set forth by the organization.
This position will interface with Trading, Risk, Finance, Operations and Regulatory on a broad range of key issues related to retail commodity transactions. He or she will possess a high degree of technical expertise in the electric commodity business sector, with emphasis on the commercial and industrial segments.
1. Portfolio & Asset Management
- Responsible for oversight of the optimization of Company’s forward wholesale supply portfolio.
- Manage regional wholesale positions according to Risk Policy. To the extent position exceptions/approvals are required; proactively communicate strategy/rationale to Chief Technical Officer, Our Client’s Trading Group and Senior Management to support exception accordingly.
- Establish and maintain effective contacts and business relationships to successfully execute wholesale procurement activity. Execution platforms should include a blend of direct, broker and exchange mechanisms.
- Actively track and reconcile price curves against settlement data to validate price curves and capture/identify new revised changes to existing curve assumptions.
- Perform Monthly review price curves with Settlements, and validate/update the pricing curves to be consistent with settlement information.
- Responsible for management, investigation, reconciliation and resolution of issues related to ETA, PPA, and Accrual.
- Clearly articulate concise Retail P/L and Wholesale MTM impacts for Daily DPR.
2. Price Curves and Pricing/Product
- Actively manage/update competitive regional price curves for each Our Client’s Asset price/product component(s).
- Responsible for maintaining and developing competitive price curves, and procurement strategies to enhance Our Client’s Asset’s price competitiveness.
- Articulate meaningful price and market change updates weekly to CTO / CDO.
- Work with Risk/Analytics Groups to build, revise and/or incorporate “new” regional price curves accordingly.
- Work with Our Client’s Trading Group to develop new or enhance existing regional product suite, strategies and deliver key benefits to Our Client (i.e., articulate Sales Benefits for New Products).
- Collaborate with Our Client’s Trading Group and Energy Managers to validate price curves for large and/or complex retail transactions and customers.
3. Operational / Regional Leadership
- Liaise with Assets Operations team.
- Work with Chief Technical Officer, Our Client’s Trading Group, Asset Management Contractors and direct Operations to support optimization/management of daily options strategies.
- Work with Chief Technical Officer, Our Client’s Trading Group, Asset Management Contractors to review optimization strategy(s) results to determine effectiveness and to propose new and modified strategies.
- Validate Accounting accrual and PPA’s including meeting with Risk, Operations and Accounting to understand and approve volumetric reconciliation and accruals.
- Prepare for, and participate in Weekly and Daily Sales/Structuring calls and provide meaningful market information for “Weekly Report” which is distributed internally/externally.
- Provide updates to Structuring to support Weekly Retail Report Framework.
4. Regulatory, ISO; and Market Knowledge
- Actively monitor third-party regulatory emails, ISO websites and industry contacts to proactively identify proposed changes to regulatory policy which may impact Our Client’s price curves.
- Assist Regional Regulatory staff on key issues (e.g., tariff revisions, calculation methodology changes) where Our Client should allocate resources at State or ISO levels and/or closely monitor
- Incorporate regulatory knowledge/opinions into price curves accordingly.
- Excellent leadership and communications skills, independent thinker with commercial savvy.
- Must Have excellent market knowledge of pricing/trading/settlements methodology for regional markets
- Must Demonstrate strong quantitative, analytical and problem-solving skills with an emphasis on attention to detail and approachability throughout the organization.
- Robust Knowledge of financial and physical energy trading markets, particularly electricity markets is required. Experience in (Ercot, PJM, ISO-NE, NYISO, CAISO and Western Physical Markets) is REQUIRED.
- Demonstrated understanding of derivatives and basic trading strategies and products in the electric and gas commodity business segment.
- Strong knowledge holder of key regional market drivers from electric and natural gas fundamentals
- Ability to manage multiple highly complex deal assignments and meet deadlines on a timely basis with a high degree of accuracy.
- Excellent computer skills with an emphasis on CQG, Excel, Word and other trading related platforms.
- 2-3 years of structuring large integrated electric commodity transactions.
- Completed 4 yr. degree in Business or Finance or Management or Engineering
- Prefer MBA
Compensation & BENEFITS
The base wage range is $185K to $220K and the STI is 20% (target) of annual base salary.
Paid Leave Benefits
- Holiday - 13 paid holidays per year
- Summer Leave - 3 paid summer-time off (to be taken between July 1 and September 30)
- Vacation - Prorate 15 days for the hired year, 15 days for the 1st full employment year, 20 days for the 2nd & up full years
- Sick Leave - Accrue 1 day per month (12 paid days per year)
- Bereavement Leave - 3 to 10 days based on the relationship to deceased
- Jury Duty - Up to 10 working days
- Medical (PPO Plan) - Company pays 100% of the premiums (No employee contribution)
- Prescription Plan - Company pays 100% of the premiums (No employee contribution)
- Dental Plan - Company pays 100% of the premiums (No employee contribution)
- Vision Plan - Company pays 100% of the premiums (No employee contribution)
- Company Match - 50% of the first 6% of the Participant’s elective deferral