Current Opportunities >> Portfolio Manager
Portfolio Manager
Summary
Title:Portfolio Manager
ID:10084
Subsidiary:Algonquin Power & Utilities Corp
Department:Algonquin Energy Services
Location:Oakville, ON
Country:Canada
Description

Algonquin Power & Utilities Corp is a North American diversified generation, transmission and distribution utility with $10 billion of total assets. Delivers continuing growth through an expanding pipeline of renewable energy development projects, organic growth within its regulated distribution and transmission businesses, and the pursuit of accretive acquisitions.

The distribution business group (Liberty &Empire) provides rate regulated water, electricity and natural gas utility services to over 782,000 customers in the United States. The transmission business group invests in rate regulated electric transmission and natural gas pipeline systems in the United States and Canada.

The generation business group (Algonquin) owns a portfolio of regulated and long term contracted North American based wind, solar, hydroelectric and thermal powered generating facilities representing more than 2,500 MW of installed capacity.

Mandate:

The mandate of the Algonquin Energy Services (AES) team is to maximize the company's risk adjusted asset return by providing portfolio management, due diligence support, and market advisory services

The successful candidate will manage a team of real-time energy schedulers and support all wholesale term transactions within, but not limited to CAISO, PJM, ISONE, NMISA, AESO and ERCOT market areas. As APCo is a growing and dynamic corporation, the portfolio of assets and market area coverage may change over time

Job Functions: 

Leadership:

  • Create and implement asset optimization strategies within the real-time, day-ahead and wholesale term markets.
  • Develop appropriate individual Key Performance Indicators (KPI)
  • Provide monthly performance and market insights report to senior management.
  • Develop market/management reporting suite to ensure the disciplined collection and analysis of market fundamentals information to produce actionable insight.
  • Develop/improve and document key real-time/wholesale operations processes/procedures/systems required to optimize AES generation assets in select market areas. Ensure appropriate internal controls and disaster recovery plans are built into key process to minimize operational risk.
  • Collaborate with internal groups: front, middle, and back office stakeholders to ensure successful transaction execution, logistics, validation, risk management, and settlement/financial reporting. Support any improvement and/or development of corporate policy, procedures, and governance.
  • Work with commodity risk management and credit risk management teams to ensure appropriate portfolio and counterparty risk reports are accurately published in a timely basis.
  • When required, support with onboarding, train, and coach team of real-time energy schedulers. Ensure sufficient cross-training is provided for all critical functions.
  • Ensure that staff work is adequately planned, communicated, coordinated, and executed. Ensure that work progress is appropriately communicated to management and affected internal stakeholders.
  • Perform backup duties as required for other schedulers, and participate in special projects as requested.
  • Upon delegation from the Chief Operating Officer, designated Acting Manager when Manager, Energy Services is unable to fulfill duties.

Real-time Operations:

  • Provide back-up coverage as required when energy scheduling staff are unable to perform duties.

Wholesale Term Operations:

  • Actively monitor, report, and ensure ongoing compliance to market area rules/regulations/tariffs and internal policies/procedures/guidelines.
  • Continually monitor information that may impact market conditions and communicate that information immediately to appropriate personnel for action.
  • Ensure that all transactions are accurately captured and reflected within the company deal capture system and applicable ISO scheduling systems. Resolve any discrepancies in a timely and effective manner to meet required deadlines
  • Responsible for supporting settlements/reporting activity when required from back-office.
  • Develop and execute power, natural gas, and renewables hedging strategies. Manage wholesale commodity portfolios within the context of the corporate risk tolerance, portfolio exposures, and market fundamentals.
  • Ensure that all transactions are accurately captured and reflected within the company deal capture system.
  • Actively monitor, report, and ensure ongoing compliance to market area rules/regulations/tariffs and internal policies/procedures/guidelines.
  • Develop and execute capacity market strategies for relevant markets (PJM, ISONE, CAISO) and manage obligations in the market as required.
  • Develop and execute asset optimization strategies for power and renewable contracts in all markets with asset presence and merchant exposure.
  • Proactively manage long-term hedge exposures within prescribed Delegation of Authority limits.
  • Originate and negotiate contracts with counterparties for physical and financial commodities including: fuel oil, natural gas, renewable attributes and power. Effectively utilize internal resources such as legal, credit and settlements in support.
  • Support due diligence efforts for new projects in both core and non-core markets for the business development group
  • Continually monitor information that may impact market conditions and communicate that information immediately to appropriate personnel for action.
  • Responsible for supporting settlements/reporting activity when required from back-office.


Minimum Qualifications:

  • At least 5-7 years of related industry experience, with in-depth energy trading/scheduling experience.
  • Post-secondary education in Commerce, Engineering, Computer Science, Economics, or other applied finance degree/designation.
  • Proficient knowledge in the applicable bidding/scheduling procedures and dynamics for each market area. Thorough knowledge of OASIS web sites and OATI scheduling and tagging systems.
  • Proficient knowledge in commodity risk management concepts and products.
  • Demonstrated leadership and responsibility capabilities.
  • Excellent organization, oral and communication abilities.
  • Advanced proficiency in Excel functionality and Visual Basic for Applications, SQL, and IT trading platform


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