Portfolio Trader

Statkraft; London; On-site; GBP 45,000 - 80,000

Job description

Company Description

Title: Portfolio Trader

Location: London, UK

Why Statkraft?

Statkraft has been making clean energy possible for over a century. That's what we offer. 125 years of unrivalled expertise in supplying the world with what it needs most. Because in the fight against climate change, we don't see renewable energy as part of the solution – we believe it must be the solution. With us, you'll shape a career that is truly forward-facing with many amazing opportunities and offerings to match.

But there's more work to be done – that's why we need you to join us!

Working in Portfolio Management, UK Power Desk

Statkraft has been active in the UK since 2003. Statkraft develops, owns, and operates renewable power production facilities across the whole world. In addition, the Markets division of Statkraft, which includes UK Portfolio Management, are an experienced team of traders, quants and originators who work together to create value for the company both from the assets we optimise on the company's behalf, and by finding new value through external deals. UK Portfolio Management works hand in glove with our UK origination teams. Our work includes valuation, deal and book management, risk factor evaluation, power, and weather market hedging, and taking positions around the book where appropriate. We manage a diverse book of assets including wind and solar PPAs, fixed and flex retail customers, batteries, and peaking plant. We also perform origination of market-based deals for hedging purposes and for creation of value. As a book we trade UK power, gas, and Carbon and spark spreads.

We are now looking for a Portfolio Trader to join our progressive and high performing Portfolio Management team, the UK Power desk. This is an exciting opportunity to join one of the best Portfolio Management teams in the business. We are seeking either a trader with quantitative experience, or a quantitative analyst with trading experience. You will work closely with the team of quantitative analysts and our traders, with a primary focus on managing our UK flex book which includes peaking plant and batteries. In addition, you will manage the shape book, taking shapes from the PPA book, retail book and where appropriate the flex book, and finding ways to deal with this in the market.

Job Description

Working as a Portfolio Trader, you will work together with our traders and analysts to:

1. Create effective strategies to manage our risk around the portfolio.
2. Create, agree, and enact strategies to add value trading around the books.
3. Effectively manage peaking power plant options and batteries within the portfolio using market products and trades.
4. Value, manage and hedge peaking plant and batteries for deals closed externally in the market.
5. Value, manage and hedge deals originated for hedging purposes.
6. Work together with portfolio quants to create new code or update existing code to improve our understanding of the portfolio and second and third order exposures. You may also develop and update the code yourself.
7. Closely collaborate with the quantitative and trading teams and may own the deployment pipeline and cloud servers or work closely with those that own these processes.

We develop in Python and use SQL server, C#, VSTO, Azure and REST APIs. It would be beneficial if you were familiar and comfortable working with these languages/environments.

This position offers a rare opportunity to work in a dynamic and value focused team who are experienced at delivering value in a complex portfolio over many years. You will expand your experience in an operational role, taking responsibility for actively managing positions and trading around positions.

Key requirements:

• Own positions and limits for the flex book which includes peakers and batteries. Trade in the market to manage the risk around these positions staying within mandated limits, whilst adding value to the book.
• Value new deals for peaking plant and batteries.
• Work together with other traders on the team, providing cover for the PPA and retail books.
• Agree with other traders on the team the operation of the shape book.
• Add value to the book through enactment of fundamental, statistical, or other trading strategies.
• Work together with quants within the team to improve position tools and reports. Take responsibility for the accuracy of these reports.
• Beneficial if the candidate can contribute to development, writing own code in python, but this is not essential.
• Analyse, innovate, develop, and optimise the models used by the Portfolio Management team to ensure that they work efficiently and effectively with the aim of reducing the cost of position management within the business.
• Work as part of the Portfolio Management team, efficiently supporting the origination and hedging of new products where appropriate.

Qualifications

• Preferably Bachelor/Master’s degree in a quantitative discipline – preferably in physics, computer science or mathematics.
• Experience of Python and development preferred but not essential.
• Experience of trading power, gas, carbon and or spark spreads in the UK power market.
• Proficient IT skills, ideally including SQL; C#; MySQL; REST API; Cloud database; Cloud deployment and Octopus.
• Effective team player with the ability to collaborate across a diverse set of teams.
• Self-driven, hands-on mentality with the ability to work under pressure and to tight deadlines.
• Efficient communicator with the ability to explain complex issues simply and effectively.
• Excellent English language skills, both verbally and written.
• Diligent with a good attention to detail – comfortable performing repetitive tasks as required.

Additional Information

What we offer

A career with Statkraft is a career filled with purpose – meaning that every employee is not just making a living, they are making a real difference to the planet, our communities, and the future. Together, we work on the front lines of changing the game for renewable energy. From hydrogen development to algorithmic trading and everything in between. We have 125 years of unrivalled expertise in creating the technologies that put ecosystems, communities, and our environment first. With us, you’ll shape a career that is truly forward-facing with many amazing opportunities and offerings to match. This includes:

• Work in a market leading Portfolio Management team with a track record of delivering strong value under challenging, changing and varied market conditions.
• Work within a diverse portfolio taking ownership of positions and P&L.
• Work with a market leading origination team who are constantly at the cutting edge of new products.
• Build new tools and models to extract the most value from the portfolio.
• The chance to grow your career alongside a truly global network of experts, leaders, specialists and graduates from different countries and backgrounds.
• The opportunity to work somewhere with pride, for a genuinely ethical employer.
• Unlimited learning opportunities at various levels of the organisation including LinkedIn Learning and inspiring leaderships program like IMD.

Statkraft offers competitive terms of employment and benefits schemes, and we’re a trusted employer that puts the safety of our people first. We believe that a safe and healthy working environment is a matter of choice, not chance.

Statkraft manages critical infrastructure and services in several countries. The applicant must be eligible for security clearance and authorisation.