We are seeking a VP of Asset Optimization, US, to join our client, a fast-growing technology company focused on the trading and algorithmic optimization of energy storage and renewable assets around the world.

Our Client:

A tech scaleup offering a Commercial-as-a-Service business model, focusing exclusively on renewable energy assets. This requires a specialized and unique set of commercial capabilities to provide top tier asset optimization services to their clients.

The company’s mission is to deliver outstanding returns to their clients to increase the attractiveness of renewable energy globally and support the transition to a clean energy future.

They have a rapidly growing team of over 100 people in the UK, USA and Australia that brings together exceptionally talented and passionate people in the domains of energy trading, data science, software engineering and renewable energy management.

Their aim is to deliver market-leading performance, maximizing lifetime asset value and building excellent relationships, whilst at all times meeting regulatory obligations as part of the electricity system and market.

The Position:

The VP of Asset Optimization US is responsible for the delivery of the company’s Day-Ahead to Real-Time (DART) asset optimization service. This includes ensuring they have superior commercial DART capabilities in their energy trading desk, appropriate technology platform requirements and performance reporting, as well as best in class risk management practices customized to their specific client needs.

The VP of Asset Optimization US will focus on building out the teams, systems and processes to support all aspects of client asset operations while building and maintaining trust with their clients. The role will be responsible for operations in ERCOT as well as expanding them into the rest of the US ISO footprint as the company expands into other regions.

The role will report to the US MD and will work closely with the Business Development, Product/Technology and global support teams (People, Finance, Legal). This role is a key interface for clients and suppliers and they expect this role to develop active relationships and build and maintain trust with these clients.

Key Accountabilities:

• Trading and operations:
  • Trading strategy development: Provide appropriate support, guidance and challenge to the US Trading & Operations Director in the formulation of trading strategies to optimize the profitability of the short-term power portfolio.
  • Market analysis and forecasting: direct and oversee the analysis of short-term power and ancillary service markets, monitoring supply and demand dynamics and competitor behavior, monitoring price movements and developing fundamentals-based forecasts to inform trading decisions.
  • Portfolio management: oversee the management of the short-term trading portfolio to optimize revenue generation with respect to agreed risk appetites and asset capability.
  • Operations: Ensure efficient and compliant trading operations in accordance with ERCOT (and other ISOs) and client requirements and ensure adherence to contract terms, trading and optimization and communications plans.
  • Trading performance management: Ensure continuous performance improvement practices are in place. Challenge individuals, teams and the business to improve and support the delivery of the required change.
• Risk management and compliance:
  • Risk Management: Ensure that an appropriate risk control framework is maintained to manage and control the risk associated with Day-Ahead and Real-Time (DART) trading activities, including price risk, credit risk, and operational risk. Develop risk mitigation action plans and strategies and ensure compliance with risk management policies and procedures.
  • Regulatory Compliance: Ensure compliance with regulatory requirements and market rules governing electricity trading activities. Stay informed about regulatory developments and implement necessary changes to trading strategies and operations.
• Client and vendor relationship management: 
  • Asset and client onboarding: Ensure all necessary client and asset data required for successful registration and operations are obtained and maintained. Oversee all necessary testing and readiness activities including determining client risk tolerances.
  • Relationship Management: Build and maintain relationships with key stakeholders, including clients, trading counterparties, brokers, regulatory authorities and internal departments such as finance, operations, technology and legal.
  • Performance Reporting and Analysis: Support the mid-office in order to produce reliable and value-adding monitoring and reporting on the performance of the electricity trading portfolio, evaluating the effectiveness of trading strategies, and identifying areas for improvement or optimization.
  • Vendor management: build and maintain excellent operational relationships with key suppliers of services to our commercial activities, for example, data and comms providers.
    
    
• Technology and Systems Requirements:
  • Provide support and constructive challenge to technical teams in the development of the trading platform, analytical tools, and risk management system requirements and performance evaluations, and ensure they are used effectively. Evaluate and implement new technologies or upgrades to enhance trading capabilities and efficiency.
    
    
• Other: 
  • Settlements: ensure trading and ancillary services settlements activities are accurately and efficiently performed with integration into cash management, credit and invoicing processes.
  • Business Development support: contribute when called upon as a content expert in client pitches and Q&A.
  • Team Leadership and Development: lead a team of DART traders, asset operations operatives, power market analysts, risk and settlement specialists, providing guidance, mentoring and performance management. Develop talent within the team and foster a collaborative and high-performance trading environment.
  • Support growth initiatives: provide expert insight into how to expand services into other ISOs and facilitate the transition of projects into the operational workflows of the business.
    
    
•  Qualifications: 
  • In-depth knowledge of deregulated electricity markets, particularly ERCOT, MISO, SPP and PJM, including market rules, business practice manuals (BPMs), and regulatory requirements.
  • Experience with front office tools and technologies including fundamentals analysis, transmission/DCOPF, project financing/tax credits/incentives, contracting, and the energy trading and risk management value chain
  • Excellent team management and coaching skills and a strong track record of building high-performing teams
  • Existing professional relationships and involvement with regulatory bodies and industry associations which provide insight into market and policy developments.
  • Strong analytical skills with the ability to interpret complex operational, financial, and market data and legal or regulatory documents.
  • Excellent communication skills with the ability to convey technical information effectively to diverse audiences.
  • Proven ability to collaborate effectively with cross-functional teams and external stakeholders. Team leadership/management experience preferred.
  • Demonstrated commitment to continuous learning and staying updated on industry developments.
  • Bachelor's degree in Economics, Finance or Engineering or related field; advanced degree preferred.