Power Trader

This is a fully remote position, open to applicants in Canada.

📋 Description

• Develop and manage positions in the PJM Financial Transmission Rights market.

• Achieve returns while maintaining risk within specified limits.

• Create models for generation, load, and grid congestion to identify PJM trading opportunities.

• Examine historical congestion, planned outages, evolving market conditions, and the impacts of new generation on power flows.

• Monitor factors influencing power pricing, supply, and grid reliability.

• Evaluate how larger energy transactions impact the current FTR portfolio.

• Utilize quantitative techniques to support a fundamentals-driven portfolio strategy.

• Engage in long-term, annual, and monthly auctions, as well as the secondary market.

• Determine and submit bids and offers within the desk's risk tolerance.

• Adjust positions through secondary trades to enhance value or mitigate exposure.

• Collaborate with adjacent desks to ensure FTR positions align with the broader energy portfolio.

• Keep precise records and provide regular performance reports.

• Implement disciplined risk management processes and design congestion hedges.

• Monitor and report on positions, mark-to-market values, and key risk indicators.

• Ensure compliance with internal risk policies and relevant regulations.

• Stay informed about changes in the PJM grid, rule modifications, and market dynamics.

• Assess the effects of renewable energy developments, plant retirements, and transmission initiatives on congestion.

• Build relationships with counterparties and stakeholders within the market.

• Share market insights with internal teams and coordinate efforts accordingly.

⛳️ Requirements

• Bachelor's degree in finance, economics, engineering, mathematics, or a related discipline.

• An advanced degree is advantageous.

• Approximately 3–5+ years of experience trading power, including real-time involvement in FTR or CRR markets.

• Proven history of successful FTR strategies and direct management of a trading book.

• Strong grasp of the PJM structure and settlement processes.

• In-depth knowledge of FTR instruments, including options and obligations.

• Excellent skills in congestion analysis and understanding of PJM constraints.

• Proficient with FTR Center and various PJM market interfaces.

• Practical experience with power-flow analysis tools.

• Skills in data analysis and financial modeling using Excel and programming languages such as Python or R.

• Familiarity with production-cost modeling in power markets.

• Ability to discern signals in complex data and respond effectively.

• Strong decision-making capabilities under pressure and uncertainty.

• Ability to clearly articulate strategies and outcomes.

• Capacity to independently manage a trading book while collaborating with the team.

• Diligent execution and risk management practices.

🏝️ Benefits

• Remote work opportunities.

• Potential to expand trading coverage into MISO over time.