Senior PJM FTR Trader

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

📋 Description

• Develop, implement, and oversee a PJM FTR/CRR portfolio through long-term, annual, and monthly auctions, encompassing position sizing, hedging, and rebalancing.

• Analyze transmission congestion, outage schedules, and grid topology to pinpoint and evaluate trading opportunities throughout the network.

• Manage risk for the portfolio, which includes setting position limits, conducting scenario and stress testing, reconciling mark-to-model versus realized PnL, and providing detailed PnL attribution.

• Choose and maintain the analytical tools, including data, modeling, and execution instruments.

• Expand the strategy to include related PJM products, such as virtuals, up-to-congestion trades, and day-ahead/real-time spread trades as applicable.

• Regularly communicate position, risk, and performance metrics to firm leadership.

• Influence the trading strategy and analytical resources with a significant level of independence.

⛳️ Requirements

• Extensive experience at a senior level working independently with complete risk ownership.

• Demonstrated experience managing a PJM FTR/CRR portfolio through long-term, annual, and monthly auction cycles, showcasing a solid PnL history and verifiable outcomes.

• In-depth understanding of PJM market regulations, auction processes, and the dynamics of transmission and congestion.

• Strong quantitative and analytical abilities, including proficiency in building and validating models.

• Proven experience in reporting positions, risk, and performance metrics to firm leadership.

• Experience in trading FTRs/CRRs or congestion products in other ISOs such as MISO, ERCOT, SPP, or NYISO.

• A record of success in related PJM products, including virtuals, up-to-congestion, or spread trading.

• Proficiency in programming/data analysis (Python, R, SQL) for conducting independent research and backtesting.

• Prior experience in mentoring junior traders or analysts.

🏝️ Benefits

• Profit-sharing component linked to portfolio performance.

• Compensation designed to grow with experience and proven track record.

• 100% remote work flexibility.