VP Asset Management - Commercial
Job Opportunity at The David Wood Company

Posted on Oct 25

http://www.powerindustrycareers.com    +1 (360) 260-0979

Location: Houston, TX
Job Type: Full Time
Job ID: W4145249

Our Client is responsible for a portfolio of Independent Power Plants, located in the U.S. They are looking to hire a VP Asset Management - Commercial to manage that portfolio.

Role and Responsibilities

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.
Portfolio & Position Management 
  1. Responsible for oversight of the optimization of Company’s forward wholesale supply portfolio.
  2. Manage regional wholesale positions according to Risk Policy. To the extent position exceptions/approvals are required; proactively communicate strategy/rationale to Chief Technical Officer, Company Trading Group and Senior Management to support exception accordingly.
  3. 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.
  4. Actively track and reconcile price curves against settlement data to validate price curves and capture/identify new revised changes to existing curve assumptions.
  5. Perform Monthly review price curves with Settlements, and validate/update the pricing curves to be consistent with settlement information. 
  6. Responsible for management, investigation, reconciliation and resolution of issues related to ETA, PPA, and Accrual.
  7. Clearly articulate concise Retail P/L and Wholesale MTM impacts for Daily DPR. 
  9. Price Curves and Pricing/Product
  10. Actively manage/update competitive regional price curves for each Company Asset price/product component(s).
  11. Responsible for maintaining and developing competitive price curves, and procurement strategies to enhance Company Asset’s price competitiveness.
  12. Articulate meaningful price and market change updates weekly to CTO / CDO.
  13. Work with Risk/Analytics Groups to build, revise and/or incorporate “new” regional price curves accordingly.
  14. Work with Company Trading Group to develop new or enhance existing regional product suite, strategies and deliver key benefits to Company (i.e., articulate Sales Benefits for New Products).
  15. Collaborate with Company Trading Group and Energy Managers to validate price curves for large and/or complex retail transactions and customers.
  17. Operational / Regional Leadership
  18. Liaise with Assets Operations team.
  19. Work with Chief Technical Officer, Company Trading Group, Asset Management Contractors and direct Operations to support optimization/management of daily options strategies.
  20. Work with Chief Technical Officer, Company Trading Group, Asset Management Contractors to review optimization strategy(s) results to determine effectiveness and to propose new and modified strategies. 
  21. Validate Accounting accrual and PPA’s including meeting with Risk, Operations and Accounting to understand and approve volumetric reconciliation and accruals.
  22. Prepare for, and participate in Weekly and Daily Sales/Structuring calls and provide meaningful market information for “Weekly Report” which is distributed internally/externally.
  23. Provide updates to Structuring to support Weekly Retail Report Framework.
  25. Regulatory, ISO; and Market Knowledge
  26. Actively monitor third-party regulatory emails, ISO websites and industry contacts to proactively identify proposed changes to regulatory policy which may impact Company price curves.
  27. Assist Regional Regulatory staff on key issues (e.g., tariff revisions, calculation methodology changes) where Company should allocate resources at State or ISO levels and/or closely monitor
  28. Incorporate regulatory knowledge/opinions into price curves accordingly.
  29. Qualifications and Education Requirements

  30. Excellent leadership and communications skills, independent thinker with commercial savvy.
  31. Must have excellent market knowledge of pricing/trading/settlements methodology for regional markets
  32. Must demonstrate strong quantitative, analytical and problem solving skills with an emphasis on attention to detail and approachability throughout the organization.
  33. 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.
  34. Demonstrated understanding of derivatives and basic trading strategies and products in the electric and gas commodity business segment.
  35. Strong knowledge holder of key regional market drivers from electric and natural gas fundamentals
  36. Ability to manage multiple highly complex deal assignments and meet deadlines on a timely basis with a high degree of accuracy.
  37. Excellent computer skills with an emphasis on CQG, Excel, Word and other trading related platforms.
  38. Math, Business, Finance, Engineering degree required.
  39. 2-3 years of structuring large integrated electric commodity transactions.
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