Associate Portfolio Manager
Position Specific Description
Deliver adjusted earnings targets by managing a portfolio of physical and financial wholesale power derivatives including load following, deterministic, and block energy products typically bundled with capacity, renewable energy credits, ancillary services, and other products to serve residential, commercial, industrial, and municipal customers. Leads deal team for transactions typically ranging from approximately 1MW to 1000MW with 3 to 36 month terms that yield revenues up to $700MM; team includes traders from power, transmission, mid-marketing, green, and options desks as well as representatives from valuation, legal, credit, risk, accounting, and regulatory/legislative affairs. Serves as the front office commercial representative with customers as well as regulatory/legislative bodies and has responsibility for all aspects of the deal including inception, milestones, approvals, execution, and booking. Partners with Origination on structured transactions to maximize value, identify risks, and implement contractual protections.
Manages P&L for assigned transactions including the development of value enhancing and hedging strategies, execution of trades, forecasting of costs, mark-to-market valuations as well as variance reporting while utilizing accounting knowledge. Manages assigned regional portfolio management tasks including valuation of seasonal hedging products, the annual delivery of renewable energy credits, execution of regulatory filings, and the mark-to-market of energy, capacity, ancillaries, and renewable energy credits. Role leverages knowledge of historical data analysis, scenario analysis, algebra, statistics, probability, portfolio theory, risk and return, present value, discounted cash flows, forwards, futures, options, interest rates, liquidity, credit, game theory, logic, binomial tree modeling, comparable analysis, market efficiency theory, energy markets, and economics to maximize value.
May complete ad hoc analysis of market conditions, exotic structures, weather products, and other financial or commercial assignments required to achieve group objectives. Relentlessly pursues perfection, trains new team members, and creates a culture of continuous improvement upon the cornerstone of integrity and compliance.
This position identifies, coordinates and leads the bidding process for standard and non-standard full requirement transactions. Employees in this role manage profit and loss for a portion of the full requirements portfolio by monitoring performance, being aware of market rules and conditions and optimizing hedge and deal positions.
Job Duties & Responsibilities
- Monitors and reports Profit and Loss of existing transactions, including maintenance and creation of forward price curves
- Works with Origination and Structuring team to develop and close structured full requirement transactions
- Manages bidding processes for assigned markets
- Ensures full requirement activity is accurately reported
- Creates hedge strategies for deals and remains within approved targets
- Performs ad hoc analysis to support strategic analysis, decision making and market view, and reviews and optimizes portfolio positions
- Develops detailed presentations for presentation to internal and external customers, including executive level management
- Performs other job-related duties as assigned
- Bachelor's Degree
- Experience: 3+ years
- Master's Degree