New York Power Authority Manager Customer Portfolio in White Plains, New York
The Manager Customer Portfolio provides overall leadership and management of the financial Hedging strategy development and implementation and management of positions (financial and/or physical). NYPA’s customer portfolios include New York City Governmental Customers (NYCGC), ReCharge NY (RNY), and any additional customer portfolios to be added.
Provide oversight and direction to staff in a highly organized and consistent manner.
Understand the contractual terms and conditions of NYPA Customer Contracts, risk appetite, expectations, and market conditions.
Establish roles and responsibilities and collaboration points for Customer Portfolio management within NYPA.
Develop risk strategies to mitigate the volatility in the energy, capacity and natural gas markets as well as emission products in keeping with the defined risk tolerances by the customers.
Partner with Merch Portfolio Managers to analyze hedge strategies used to mitigate price volatility for NYPA’s generating assets and customer load portfolios.
Expand existing list of performance and operational management reporting.
In conjunction with Marketing department, provide support for the management of the NYCGC variable costs, providing hedge strategies and then implementing them pursuant to their approval.
Manage and articulate Cost of Service for NYPA Customers.
Establish processes and procedures for oversight and for existing counterparty interactions.
Work with NYPA divisions to ensure that deals fall within corporate guidelines (risk targets, transaction limits, credit limits.)
Implement instruments such as Contracts for differences, Swaps, Put and Call Options, Swaptions and Collars in accordance with ERMC defined procedures to manage and monitor NYPA’s portfolios based on NYPA and/or customer profiles (allowable instruments, risk tolerance, dollar limits and preferred strategies) including: Energy, Capacity, Transmission Congestion Contract (TCC), and Regional Greenhouse Gas Initiative (RGGI).
Provide recommendations to Senior Management and Marketing on portfolio strategies and specific strategies to address risks.
Participate in Energy Risk Management Committee (ERMC) and customer discussions to communicate and establish clear definition as to risk tolerance.
Support the groups infrastructure needs (FCM’s, third party brokers, approved counter-parties, Bloomberg, ICE, CME/NYMEX) and establish clearly defined guidelines and procedures to ensure compliance.
Support the underlying energy transaction risk management program (ETRM) and ensure all hedges are properly recorded in the official deal capture system.
Knowledge, Skills and Abilities
Understanding of corporate and customer risk exposures, value at risk (“VAR”), market volatility, forward prices, “mark to market” and other relevant metrics that define risk, measure performance and influence the design of hedging strategies.
Knowledge of corporate objectives and strategic goals, including revenue requirements and customer rates.
An understanding of risk management protocols, a thorough knowledge of financial instruments (OTC, NYMEX, CFD’s) used in hedging risk exposure as well as familiarity with market rules and regulations.
Ability to use risk management techniques and quantitative models/systems to help analyze existing positions.
Solid knowledge of business, statistical, financial and analytical skills for evaluation of risk exposure and recommending risk mitigation measures/options.
Ability to understand emissions and developing markets such as NYS DPS Clean Energy Plan and the EPA’s Clean Power Plan
Strong understanding of fuel and energy market trends / prices (and market operations in the NYISO) as well as NYPA generation and load exposures, including electric congestion rights.
Strong understanding of oil and deregulated natural gas and electric industries, including applicable legislative and regulatory issues / requirements and market dynamics.
Excellent verbal and written communication skills required, including demonstrated ability to present or tell the story.
Ability to assess risk tolerance, develop strategies and make recommendations is crucial
Effective planning, time management and good organizational abilities.
Effective administration and documentation skills are required.
Ability to influence others both within and outside the organization.
Ability to motivate others and lead by example are also essential qualities given the need to work as a group lead to conduct discussions with customers.
Established knowledge of energy markets and understanding of bid strategies and plant operating characteristics.
Strong knowledge of capacity markets.
Strong knowledge of the Regional Greenhouse Gas Initiative (RGGI) helpful.
Strong knowledge of the New York Independent System Operator (NYISO) settlement rules.
Ability to analyze & identify efficiency gains by introducing new tools/reports to better achieve performance gains.
Highly organized with strong management and coaching skills.
Education, Experience and Certifications
B.S. or B.A. in Economics, Mathematics, Computer Science, Engineering, Business, or related field required.
Master of Business Administration or equivalent, preferred.
Minimum 10 years of experience in the energy industry and/or related commodities.
Minimum 5 years of leadership experience in energy markets preferred.
Demonstrated ability to lead organizations and its employees in alignment with the overall mission.
- Approximately 15% travel primarily within NY State
The New York Power Authority is an Equal Opportunity Employer