Director Power Settlements
VP Commodity Operations / Special Execution
Director Structure & Pricing
Analyst Client Services
Vice President Regulatory Affairs
Vice President Risk Management
The Settlements Division of CAG seeks to appoint a Director level person to oversee the Power Settlements team and Dealer Support Unit within the Houston Settlements group. As an integral part of the Energy Settlements team, you will be responsible for:
• Overseeing all dealer support to traders including:
o Verification of Energy deals across power, gas, and oil-both physical and financial
o Generation of derivative confirmations
o Identifying and resolving issues
• Overseeing all power settlement activities including:
o Invoice power products(physical and financial power, option premiums, emission trades, capacity transactions)
o Reconcile and settle ISO transactions(currently dealing in CAISO, ERCOT,NEISO,NYISO and MISO)
o Invoice Originated transactions(toll agreements, load following, energy management agreements, etc)
o Identifying and resolving Settlement related issues
o Regular and reporting across both teams
The successful candidate should:
• Have previous experience leading teams in Settlements/Middle Office, with experience in commodities or derivative products
• Be highly motivated with a professional attitude and possess attention to detail
• Have experience preferably in the Banking/Finance or Energy sectors with a degree
• Have the ability to prioritize and problem solve
• Have excellent organizational, communication and prioritization skills
• Enjoy dealing with a large team in a busy environment
• Effective at dealing with people at all levels Key Skill Requirements:
Business Knowledge
• Experience in the Banking/Finance or Energy Sectors in a Settlements or Middle Office role would be highly regarded
• Ability to recognize significant issues arising from day to day activities, and their impact on the business
• Awareness of settlement/business factors that affect commodity trading
Interpersonal Skills
• Confident and competent in oral and written communication
• Expresses view point clearly and concisely
• Develops and maintains the respect and support of team and senior management
• Proven track record of building positive team culture
• Capability of dealing with confidential material
Client Orientation
• Builds a good level of rapport with clients and responds quickly to their concerns, subject to maintaining internal controls
• Ability to deliver high levels of quality service on a daily basis
Technical Specialist Skills
• Ability to deliver quality work under pressure
• Questions current procedures and has a strategic continuous improvement mindset
• Be confident in the set up of functions and processes
• Ability to build process and support Information technology in a changing environment
Qualifications and Background
• Preferably seven to ten years experience in the Energy Trading sector
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Summary:
Team is responsible for researching, understanding and developing ways to support the Sales and Trading desk's current and future business opportunities. In addition, the group develops ways to integrate new businesses and structured transactions into the firm's processes, systems and controls. The team partners with sales, trading and operations in all commodities with a primary focus on power, emissions, natural gas, crude and refined products. Team members have commercial, operational and project management responsibilities. In addition, the team advises the commodities business, creates complex settlement models and operates active transactions until they can be fully integrated into existing business processes.
Daily responsibilities will include:
* Simultaneously managing a team of professionals while also being involved in developing and integrating new power, emissions and renewable projects and transactions.
* Active participation in scoping new businesses, transactions and opportunities with the sales, trading and operations groups.
* Structured transaction research, modeling and execution assistance.
* Contractual review and due diligence.
* Complex settlement modeling, including validation of complex power, emissions and renewable energy transactions.
* Tracking and communicating the development of physical market regulatory developments and rules to the team and other applicable groups.
Experience/Skills:
Deep knowledge of either one or more Independent System Operators and/or solid industry expertise in petroleum, natural gas or other related commodities. Strong organization and interpersonal skills:
* Commercial aptitude
* Good project management skills
* Experience performing detailed analyses of trades, pricing, and performance
* Ability to solve problems and explain underlying issues to non-technical clients and colleagues
* Experience creating spreadsheets and performing reconciliations
* Strong oral and written communication skills
* Able to create and implement controls around core processes
* Physical power, gas or oil experience highly preferred
* An understanding of the industry's regulatory environment
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General Purpose
Manages cross-functional units, which has a major impact on corporate or business unit. Establishes strategic business objectives, strategies, and plans in support of the Company's strategic goals. Manages and allocates financial and employee resources. Responsible for selecting, coaching, and developing employees and management of employee salaries. Implements and supports Company programs and policies. Leads and manages Company's Structuring and Pricing group. Typically supervises Manager-level employees.
Responsibilities of this position include the following:
* Provide analytical support for derivative pricing, contract/asset modeling, major asset decisions, commercial resource alternatives, transmission, and transportation decisions in timely, accurately and clear manner.
* Direct and manage the valuation analyses conducted by structuring group for asset and contract transactions in timely, accurately and clear manner including but not limited to various request-for-proposals, renewable assets/contracts, and hydroelectric contracts/ auctions.
* Develop new contract and asset models for use in Company's portfolio management systems in timely, accurately and clear manner.
* Lead efforts to design and structure new products that may be effectively priced, risk managed, and delivered in timely, accurately and clear manner.
* Testify in support of company rate cases and filings.
* Act as a liaison between Origination, Trading, Credit, Finance, and Risk Management.
* Support Mid-Office Financial Accounting Standard ("FAS") mark-to-market calculation, validation, and reconciliation efforts.
* Generate and maintain valuation parameters such as hourly price scalar, firm/nonfirm multiplier, volatility and correlation.
Requirements of this position include the following:
* Bachelor's Degree in Business, Finance, Accounting, Financial Engineering, Operations Research, Actuarial Science, Statistics, Mathematics or a related field; or the equivalent combination of education and experience.
* A minimum of ten years experience in a pricing and structuring energy commodity or energy trading.
* A minimum of five years experience with direct people management.
* Thorough understanding of statistical methods, quantitative finance, financial analysis in regulated utilities, and computer programming applications to energy commodity pricing evaluations.
* Demonstrable knowledge of generation and transmission operations and the wholesale power and natural gas markets.
* Leadership and teamwork skills to negotiate with and influence peers and management on policy and strategic issues.
* Communication and interpersonal skills including the ability to manage and motivate employees, use oral and written communication to create a vision, communicate strategy, and effectively interface with other Company leaders.
* Knowledge of the Company's strategic plan, regulatory and political environment, as well as the Company's policies, procedures and practices, and applicable federal, state, and local laws and regulations.
Preferences:
* Advanced degree
* Chartered Financial Analyst ("CFA"), Certified Public Accountant ("CPA"), Financial Risk Manager ("FRM") or Associate member of Society of Actuaries ("ASA") designation.
* Prior experience in providing testimony supporting commercial transactions related to rate case and regulatory filings
* Prior experience in commercial risk management computer system.
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As an Analyst/Associate within the Client Service team, you will initially concentrate on learning the systems, processes and controls of the group and focus on understanding the various commodity products and trade types. Once fully trained, the Analyst/Associate will be responsible for day to day interaction with internal and external clients, the production of accurate invoices, the timely receipt or payment of funds and accurate reporting. Further, Associates will be responsible for controls, reporting, team member career development and team member training and performance.
Principal Responsibilities
* Develop detailed system knowledge.
* Develop detailed product and trade type knowledge.
* Ensure timely receipt and payment of funds.
* Interact with external clients to ensure agreement with monetary amounts.
* Interact with sales and trading to resolve settlement issues.
* Maintenance of customer accounts and timely resolution of breaks.
Experience
* Bachelors degree
* 2 or more years experience in the financial industry, preferably within Commodities.
* Past experience of process improvement analysis, project planning/coordination and implementation.
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Regulatory Affairs Associate/Vice President
Position Summary:
US Power Trading is looking for regulatory affairs experts to become members of a highly commercial regulatory team which is a key part of trading, marketing and sales efforts. Experience in the Northeast, Midwest, or ERCOT markets is preferred; Team members must maintain expert knowledge of operating rules and tariffs pertinent to our business, and keep abreast of changes and proposed changes in market rules, in order to assist the firm in determining strategies to respond to potential market/regulatory developments.
Principal Responsibilities:
* Participating in and representing Goldman Sachs at meetings with ISOs, regulatory agencies and at workshops. Reporting on meeting developments
* Monitoring regulatory developments at ISO, state and national levels, evaluating proposed changes in the regulatory landscape that may affect Goldman Sachs
* Participating in stakeholder market-design processes, and in relevant trade organizations
* Analyzing the financial or operational impacts of regulatory proposals or initiatives
* Identifying, summarizing and presenting issues for management discussion and decision-making, and developing strategies for obtaining fair and equitable treatment for Goldman Sachs
* Tracking/communicating development of physical market/regulatory developments and settlement rules
* Communicating regulatory changes and requirements to other working groups within the firm
Experience/Skills:
* Minimum 3-5 years of relevant regulatory experience
* Excellent interpersonal and communication skills
* Strong analytical skills
* Ability to take initiative and work accurately with minimum supervision
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Energy Derivatives Risk Manager
Responsibilities
Job Overview:
The successful candidate will be a risk manager focusing on company's Energy Derivatives businesses including the various US Electricity, Natural Gas, and Oil markets.
The individual will also focus heavily on determining and monitoring energy market exposures across all Energy Derivatives transaction. The individual will take an active role in working with the Energy Derivatives Businesses to ensure that the firm's risk exposure is evaluated and monitored on a daily basis and is consistent with the Firm's internal risk guidelines.
Duties & Responsibilities:
* Quantifying & evaluating the risk generated by the global oil, North American natural gas, & North American power desk. Working with traders and marketers to ensure the risk is accurately represented in the risk systems.
* Working on structured products/ individual deals to disaggregate risk for measurement and Value-at-Risk purposes.
* Developing stress tests for the various markets, and working with Risk IT & support to implement the process along with Value-at-Risk.
* Assist in working with Business to evaluate risks, to propose limits, and to help develop the risk framework as they enter new markets.
* Coordinating with the London & Tokyo on global positions, and risk issues that affect the global energy business.
* Working with the Risk Quantitative group to improve the Value-at-Risk calculation for the energy business. The individual would bring his/her knowledge and experience of energy markets to the process.
* Assisting in the development of the firm's risk management infrastructure and methodologies for monitoring the underlying energy market risk. Working with Risk IT to develop calculation and reporting tools.
* Working with the Credit Risk Management Group to ensure a consistent approach to the energy markets.
Requirements
EDUCATION
A good first degree in a quantitative subject. An MBA or other relevant advanced degree(s) is desirable.
QUALIFICATIONS
The successful candidate will possess the following:
* A minimum of 5-7 years experience in increasingly responsible positions in a risk management (market risk), trading, or other closely related functions. Exposure to the North American power markets is highly desirable.
* An in-depth knowledge of energy derivatives products and trading strategies in oil, natural gas, and power. A comprehensive understanding of the physical aspects of the power and natural gas business. Experience with modeling of risks of various markets would be desirable.
* Comfortable and mature in dealing with professional staff, business unit heads, traders, senior management and clients.
* Superb interpersonal skills with the ability to instill confidence and build collaborative working relationships.
* Excellent verbal and written communications skills.
REPORTING STRUCTURE
Position will directly report to the head of Energy Risk Management in New York
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