Manager – Spot Desk

Summary of Position: This position manages a group of electric energy trading and scheduling professionals and the associated activities. The activities include purchase and sale and scheduling activities that ensure the lowest cost of supply for our retail & wholesale sales groups; makes the best use of our assets on a daily basis and continually manages our daily exposure position across all market regions for all physical and financial transactions with a term of one month or less. These spot month activities include managing the short-term economic optimization of assets and resources under management with respect to ISO rules and FERC rules. Develop strategies to maximize the value of the assets with respect to trading. Direct the use of assets to optimize value within pool rules and with respect to market conditions. The manager will contribute to directing the activity of traders bidding load, and generation units under management into the day market and real time markets as well as assessing net position, entering into hourly, daily and balance of month contracts to manage risk, and direct the use of congestion management instruments (FTRs and TCCs and basis transactions) to manage risks and optimize the value of the portfolio.  This group is required to have significant interaction with wholesale electric forward desks, wholesale gas spot desk, retail electric operations, electric accounting, credit, legal, mid-office, and third parties.  The individual must have a solid understanding of the bulk power system including generation assets, fuel, transmission, ISO rules and regulations. Must have experience developing and capitalizing on market relationships to maximize value.

 

Responsibilities:

Manage a group of professional traders and schedulers with the following three (3) key responsibilities:

? Manage the spot-month electric portfolio within the risk parameters established by senior management and corporate risk management including the following:

? The daily execution and management of all short-term physical and financial electric energy and capacity positions and transactions.

? Pre-month setup including the monthly execution and management of all physical and financial electric positions and transactions that require execution within a week of the spot delivery month which position the overall book according to the agreed upon risk parameters.

? Manage daily and hourly supply and market load swings to ensure performance obligations are met and to maximize returns. Apply hedge transactions to mitigate risk.

? Manage daily and hourly supply and market load swings to ensure performance obligations are met and to maximize returns.

? Manage the trading and optimizing around all electric assets including tolling arrangement and congestion management products (FTRs and TCC).

? Manage the scheduling activities for wholesale electric portfolio.

? Report short-term optimization and trading profit & loss on a daily basis.

? Value Creation ? On a daily basis, supervise the spot month trading wholesale electric commercial activity seeking to create value for Hess Corporation:

? Communicate internally any knowledge, ideas, and opinions gleaned through day trading activities and counterparty interactions.

? Constantly interact with the traders and other managers to determine hedging opportunities for the portfolio.

? Develop and maintain relationships with customers and trading counterparts to enhance flexibility in managing portfolio.

? Determine price relationships and quantify congestion/locational value in PJM, NYISO, NEPOOL electric energy markets. Identify strategies that help manage risk and/or create value for the portfolio.

? Interface with ISO committees and operating groups to understand, influence and defend the company?s interests with respect to ISO operating rules and interpretations

? Bid load and generation units under contract to maximize value from the market.

? Interact with traders, risk management and the other groups to develop new products, strategies and market opportunities.

? Direct the PJM, NYISO and NEPOOL and other market strategies and influence the policies.

? Interact with other groups to identify and evaluate acquisitions.

? Ensure the appropriate control systems are in place to manage the above. Specifically:

? Input transactions into the trading and risk management system.

? Schedule all wholesale electric.  Scheduling responsibilities including facilitating the delivery and receipt of wholesale power and retail load scheduling with ISO?s, marketers and suppliers.

? Ensure computer systems are in place to monitor and support the activities.

? Ensure that internal and external audit requirements are met at all times.

 

Dimensions:

? Minimum Bachelors degree, preferably with an engineering, mathematics, finance or business background ? MBA or related Masters degree preferred.

? A minimum of five (5) years and a preference of ten (10) years in the power industry.

? Minimum of five (5) years physical and/or financial energy trading and/or risk management experience.

? Knowledge of PJM, New York and New England bulk power markets including the associated transmission and generation infrastructure. Knowledge of the natural gas markets a plus

? Be fully conversant with the energy transaction and portfolio valuation techniques including the ability to value and price complex energy instruments including options, tolling arrangements and load following contracts

? Must have experience directing the development of ad-hoc data assimilation including models to evaluate trading opportunities and the ability to systematically evaluate the results.

? Must have experience with physical, delivery, basis and price risk and the techniques necessary to mitigate those risks.

? Possess strong communication and interpersonal skills enabling the candidate to communicate trading strategies to risk management, marketing and other stakeholders.

? Excellent organizational skills, ability to handle multiple tasks and make decisions in daily pressure situations to meet deadlines.
Current established relationships with trading counterparts.


Women, minorities, and members of under - represented groups are encouraged to submit credentials and / or resume.




CONTACT INFORMATION

Company: Hess Corporation

Reference Code: SM/SD