Manager, Power Trading Analytics

Houston, TX, United States

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.

This position is open to Remote work.

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.

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.

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.).

#remotework

The pay rate for the successful candidate will depend on geographic location, skills, relevant and demonstrated experience, education, training and certifications, and other factors permitted by law. This role is eligible to earn an annual cash bonus, subject to personal and company performance goals.

Salary Range Across all U.S. Locations

$165,000 — $200,000 USD

Clearway Energy Group is leading the transition to a world powered by clean energy. Along with our public affiliate Clearway Energy, Inc., we own and operate 10 gigawatts of renewable and conventional energy assets across the country. As we develop a nationwide pipeline of new renewable energy projects for the future, Clearway’s 8 gigawatts of operating wind, solar, and energy storage assets offset the equivalent of more than 9 million metric tons of carbon emissions for our customers today. Clearway Energy Group is headquartered in San Francisco with offices in Carlsbad, CA.; Scottsdale, AZ.; Houston, TX; Denver, CO; and Princeton, NJ. For more information, visit clearwayenergygroup.com.

Our Commitment to Diversity, Equity, & Inclusion

At Clearway, we create a community that isn’t about being the same – it’s about building a team of unique individuals, with different backgrounds & skill sets, coming together to build something big & make a difference in the world. Clearway’s team is dedicated to a clean energy future across a wide spectrum of roles & responsibilities. Embodying our company values and operating principles, unique individuals come together over a common mission. We embrace opportunities to do challenging work that can change the world. We aspire to bring out the best in everyone. We share setbacks, celebrate successes, & act with integrity & accountability to get the job done.

Working at Clearway, Hybrid Together

Here at Clearway, we’re committed to balancing flexibility while fostering strong relationships with our teammates. We do this by prioritizing new hires based near one of our offices in San Francisco, Carlsbad, Scottsdale, Houston, Denver, & Princeton. Our office-based employees typically work together from fabulous spaces on Tuesdays & Thursdays to collaborate & learn, build community, get to know one another, & enjoy company-provided meals & events.

Clearway Energy is an equal opportunity employer that values a broad diversity of talent, knowledge, experience & expertise. We intentionally foster a culture of inclusion that empowers our employees to deliver superior performance to the communities we serve. We encourage minorities, women, individuals with disabilities & protected veterans to join the team. Clearway is a proud promoter of employment opportunities to our Military & Veterans.

What We Provide

Clearway offers all eligible employees working 20+ hours per week a comprehensive menu of benefits: generous PTO, medical, dental & vision care, HSAs with company contributions, health FSAs, dependent daycare FSAs, commuter benefits, relocation, & a 401(k) plan with employer match, a variety of life & accident insurances, fertility programs, adoption assistance, generous parental leave, tuition reimbursement, & benefits for employees in same-sex marriages, civil unions & domestic partnerships. For more on Clearway benefits, visit our Benefits Website .

Notice to Applicants

Clearway Energy is strongly committed to a philosophy of equal opportunity and fully complies with equal employment laws , ordinances and regulations for all applicants and employees. We will make reasonable accommodations to enable individuals with disabilities to apply and compete for employment opportunities for which they are qualified. If you need a reasonable accommodation because of a disability for any part of the employment process, please send an e-mail to [email protected]  and let us know the nature of your request and your contact information.

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