Manager, Power Trading Analytics

4 weeks ago

San Francisco CA, United States Clearway Energy Full time

What The Role Is

Reporting to the Director of Energy Trading and Optimization, the Manager, Power Trading Analytics will facilitate the implementation of a risk framework through quantitative analysis. This person will be responsible for ensuring that new commercial strategies align with the overall portfolio performance expectations and fall within acceptable risk tolerances. Requires in-depth knowledge of commodity market dynamics, tradable instruments, and risk management practices specific to renewable resources.

Works with management on developing, reviewing, and modifying the portfolio strategy based on agreed-upon risk scenarios. Works closely with energy traders to develop risk scenarios and showcase potential impact to the broader portfolio. This position does not currently supervise any direct reports but anticipates growth potential in the future as the company continues its current aggressive growth trajectory.

What You'll Be Doing

Risk and Quantitative Analytics

  • Develop gross margin at risk models for projects with market price exposure, with a focus on prompt month to five years forward, to guide hedging and risk mitigation strategies within the confines of the established Energy Risk Management policies.
  • Develop portfolio risk limits and maintain portfolio-level risk metrics accounting for cross-market correlations in energy, congestion, and REC prices.
  • Review forward market price volatility curves and correlation assumptions for stochastic risk modeling.
  • Facilitate trading strategy performance benchmarking and establishing risk limits.

Energy Market Strategy:

  • Develop and apply portfolio optimization techniques to drive hedge strategy decisions while balancing risk-adjusted revenue of Clearway’s renewable assets. Hedging strategies including DART optimization, CRR/FTRs, and term hedge and PPA transactions. Perform daily and weekly portfolio assessments to identify opportunities to maximize portfolio profit opportunities and identify risks.
  • Collaborate with Market Fundamentals and Transmission Team to incorporate long-term fundamental views into short-term risk mitigation trading strategies.
  • Support valuation of short-term hedge and PPA amendments for contract negotiations with the Origination team
  • Develop REC, Capacity, Resource Adequacy, and transmission hedging trading strategies.
  • Develop gas trading strategies to help mitigate the risk for the company’s three conventional assets.

Reporting & Communication:

  • Collaborate with senior executives in setting appropriate hedging and risk management strategies for both renewable and conventional assets.
  • Develop insightful market dashboards using Power BI or similar tools.
  • Participate in Energy Risk Committee discussions along with senior leadership.
  • Present risk issues that require approval of the Energy Risk Committee at the committee meeting. Work closely with the Director of Risk to ensure compliance and adherence to the risk policies.
  • Lead creation of management reporting that presents positions and exposures.
What You'll Bring
  • Masters or Ph.D. in Engineering, Mathematics, Economics, or a related quantitative discipline.
  • 5-10 years in increasingly responsible quantitative roles, especially within the energy industry.
  • Knowledge of US Electricity markets and power systems with direct experience with at least one ISO market
  • Highly proficient in developing predictive models using mathematical and statistical methods to identify, analyze, and mitigate energy market risks with an understanding of option valuation and Greeks.
  • Highly experienced in at least one programming language, preferably Python or R, with a demonstrated track record of developing complex statistical models and ideally implementing them into a production system.
  • Ability to build Quant Lib utilizing stochastic calculus and Option Models for deal valuation.
  • Strong SQL and data mining skills.
  • Ability to construct power fundamental models for pricing, load, generation, flow, and outages using various methodologies.
  • Ability to extract, manipulate, and analyze large datasets relevant to the energy market in order to develop complex trading algorithms.
  • Exposure to regulatory expectations and industry standards concerning risk management practices including risk management modeling.
  • Experience in valuing and transacting transmission hedging products.
  • Experience in valuing and transacting Resource Adequacy and Capacity products.
  • Strong relationships with credit and professionals, both internally and externally, to ensure adherence to established credit and risk policies.
  • Excellent written and verbal communication skills and an ability to communicate complex issues in a clear, concise manner.
  • Highly proficient in Microsoft Word, Excel, and PowerPoint.
  • Strong business and financial savvy with the ability to support a high-performance organization that will deliver operational excellence and meet or exceed financial targets.
  • Ability to perform well under pressure on teams in a demanding environment and occasionally work extended hours to meet project deadlines.
  • Ability to think creatively, manage competing priorities, work independently, and pay attention to detail.
  • Self-motivated and highly organized.
  • If you don’t meet 100% of the above qualifications but see yourself contributing, please submit your resume.
What Would Be Nice
  • MBA or MS is highly desirable.
  • Experience working with variable generators and natural gas plants is highly desirable.
  • Experience with Dayzer, Promod, or Plexos is highly desirable.
  • Exposure to contract administration, project finance, and other commercial engagements.
  • Experience working with Energy Trading Risk Management (ETRM) systems.

Clearway will not sponsor nonimmigrant visas for this position (H-1B, TN, E-3, etc.).

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