Portfolio Manager - Bellevue, United States - The Energy Authority

Description

About The Energy Authority

The Energy Authority is a public power-owned, nonprofit corporation with offices in Jacksonville, Florida, and Bellevue (Seattle), Washington. TEA provides public power utilities with access to advanced resources and technology systems so they can respond competitively in the changing energy markets. Through partnership with TEA, utilities benefit from an experienced organization that is singularly focused on deriving the maximum value of their assets from the market.

TEA Values

TEA employees share a common sense of purpose. When TEA accomplishes its mission, the result is improved quality of life for the citizens and businesses of the communities our clients serve.

TEA employees exceed the expectations of those they serve, deliver services with the highest standards of fair, honest, and ethical behavior, set the standard for service and expertise in our industry, embody a spirit of collaboration, and embrace TEA's founding entrepreneurial spirit by seizing opportunities to deliver value.

If you are self-motivated, driven to deliver excellence, and passionate about your career, TEA is the perfect place for you.

It's YOUR Future. It's OUR Future.

SUMMARY

The Portfolio Manager role is the senior trading position at The Energy Authority. TEA has a diverse mix of customers in WECC including customers within CAISO and customers in non-CAISO bilateral power markets. Portfolio Managers are strategic advisors for our public power clients that apply their expertise in energy, capacity, renewable, and natural gas markets to develop strategies and tactics to ensure clients meet their financial objectives. Portfolio Managers work with a diverse team to develop models and hedging programs tailored to meet client specific goals. This role requires a strong understanding of evolving WECC fundamentals, the ability to explain complex concepts in a digestible manner to audiences with diverse areas of expertise and the ability to execute physical and financial transactions.

Essential Duties & Responsibilities include the following. Other duties may be assigned.

Client Portfolio Management and Optimization

• Work with clients and TEA's Portfolio Management and Analytics groups to define portfolio positions and develop optimization strategies;
• Develop short-term risk management strategies to conduct purchase and sales transactions to increase margin and lower power costs while minimizing risk;
• Coordinate with clients and other TEA personnel to bridge the gap between the longer-term strategies and the shorter-term trading functions in order to help meet client goals;
• Help analyze congestion and volatility in the Day-Ahead and Real-Time markets and recommend appropriate strategies;
• Assist with quantifying and communicating the results of strategies to clients;
• Provides support for the measurement and monitoring processes/systems to measure client bid strategy effectiveness and improve effectiveness;
• Assist TEA's Analytics group with developing price forecasts for specified nodes;
• Maintain current knowledge of TEA client resource portfolios;
• Maintain current knowledge of the CAISO;
• Develop and use various vendors and proprietary tools to conduct analysis.

Trading and Procurement Functions

• Work with clients and TEA's trading staff to develop and manage intermediate- and long-term power supply procurement processes, including preparing Requests for Offers for power supplies and related products;
• Maintain strong market relationships with counterparties to help facilitate competitive pricing for TEA and clients;
• Execute and manage forward physical and financial power and natural gas and transactions including futures, options, swaps, and other derivative transactions, both exchange-traded and over the counter (OTC);
• Analyze and evaluates complex energy transactions to ensure that all relevant aspects including energy price, transmission, counterparty contractual and credit limits terms are favorable to and consistent with customer objectives and company guidelines for risk management;
• Understand commercial implications of transactions and regulatory obligations to work in conjunction with TEA's CAISO Resource Specialists and clients on CAISO market operations and other CA regulatory activities.

Market Knowledge

• Assess the power and natural gas markets and provide in-depth analyses of fundamental factors, particularly as it relates to the following products: SP15 and NP15 energy, RA, RPS, low carbon energy.
• Work internally to support Analytics team in CRR offering

CAISO Market and Industry Coverage

• Participates in CAISO market meetings and report our results to TEA and its clients;
• Participate and monitor EIM market developments in WECC and report our results to TEA and its clients;
• Stays abreast of FERC changes;
• Overnight(s) travel required attending industry functions, training seminars as well as visits to clients, as needed;
• Prepare and deliver presentations to industry committees, as necessary.

Client Services and Business Development Support

• Build relationships with key stakeholders at existing and prospective CCAs;
• Provide subject matter expertise in support of business development activities, to include traveling to and presenting before CCA executives, staff, and governing boards;
• Develop goals and metrics for Portfolio Management success with CCA clients;
• Communicate an understanding of client goals to TEA staff and communicate to client management and staff the strategies that TEA recommends;
• Identify and escalate opportunities for TEA to expand services to existing clients and provide services to new clients.

TEA Backed Revenue Generation Support

• Find ways to help the team generate positive risk-adjusted revenue within approved risk parameters

Support Portfolio Management Group as needed, including support related to our NW book of business

Qualifications

Education and/or Experience

Bachelor's degree (B. S.) from four-year College or university in applicable field (e.g., finance, economics, and business) required. Advanced degree such as an MBA or Masters in Finance strongly preferred. Must have five or more years' experience in physical and financial energy markets.

Must be able to establish trusting relationships with clients and be an effective communicator with individuals and both small and larger audiences. Must be a strong team player who places the goals of TEA and its Members above personal or team goals.

Compensation

Our base salary ranges are determined by role, level, and location. Job-related skills, experience, and relevant education or training determine individual pay within the range. The range for this position is $174, $235,708.87, with an annual target short-term incentive rate of 30% of base salary based on corporate, team, and individual performance.

Benefits include paid time off beginning at the rate of 17 days per year, nine paid holidays, 401(a) employer contribution and 457(b) deferred compensation retirement savings plans, medical, dental, vision, life, AD&D, and disability insurance, and health savings and flexible spending accounts.

In addition, we offer great work-life balance and company culture with exposure to clients and high visibility to senior executives. Learn new things every day – you will never be bored