Junior Trader, ESB Trading

7 months ago

Dublin, Ireland ESB Full time

Position Description

ESB Trading delivers optimisation, risk management and wholesale market access to ESB’s Generation portfolio and to its third-party customers. Trading plays a critical role in delivering value to ESB through management of its generation and supply business in SEM and GB.

The Forward Trading team are actively involved in wholesale energy trading in the UK, European and Irish markets. The primary role will be asset backed trading in line with current trading and risk policy. In addition, the Junior Trader will also conduct the day-to-day trading requirements of ESB Trading in line with its trading strategy. This will include execution of asset optimisation strategies, fuel procurement policies and power hedging activities. The Trader will also be involved in training and coaching new junior staff.

The successful candidate will:

Carry out Asset backed Trading with discretion around timing Carry out Generation Asset hedging and optimisation (power, gas, coal , carbon from within day to 4 years forward) Manage renewable compliance and green certificate trading (ROCs, REGOs and GoOs) Complete Technical and market analysis. Understand macroeconomic price drivers and impact of regulatory changes to core markets Analyse fundamental and technical market conditions, as well as devising and implementing profitable trading strategies Trading Analytics (price forecasting, fundamental analysis) Ensure compliance with all regulatory guidelines and risk limits Identify market opportunities and engaging the relevant commercial teams in developing plans to pursue them Provide recommendations for price exposure mitigation measures.

Key Responsibilities

Responsibilities will cover the items below:

Execute the asset optimisation, fuel procurement and power hedging activities associated with ESB’s GB generation assets using timing discretion to add additional value above the gross margin Spark Spread trading and price discovery Take responsibility of any trading books / risk limits allocated to the trader P&L responsibility Work in accordance with agreed guidelines, policies and procedures. Share information with other trading staff, with regards to commercial and operational Activities, market fundamentals and financial modelling Share knowledge and skills openly with other members of the team Develop and maintain relationships with counterparts/clients/brokers Liaise closely with key interfaces including trading counterparties, customers and risk management staff Provide excellent customer service and Identify opportunities to increase effectiveness and efficiencies and share best practice Periodically present market views to Industrial and Commercial customers Keep abreast of current trends and developments in areas of expertise Maintain knowledge and skills in order to carry out full range of duties Facilitate and support others in achievement of team goals and contribute positively to the development of the team and self Demonstrate flexibility and adaptability to change.

Knowledge, Skills and Experience

Essential

Minimum 3 years work experience including at least 1+ years’ experience of Power and Gas markets Highly numerate Excellent communication skills Experience of other commodity markets also desirable

Desirable

Experience in trading coal and renewable trading Knowledge of weather models and how to interpret Ability to script and automate using R and Python Operational trading experience in the UK power markets Experience with asset-backed trading Proficiency in UK trade execution systems (Trayport/Bloomberg etc.) Comprehensive understanding of a conservative risk management environment In depth understanding of price drivers in the energy markets

Qualifications

Essential

Third level qualification with a strong quantative/financial/economics base is required, or equivalent work experience.

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