Manager of Quantitative Portfolio Management – Renewable Energy

Job Description

About Us

FirstLight is a leading clean power producer, developer, and energy storage company serving North America. With a diversified portfolio that includes over 1.65 GW of operating renewable energy and energy storage technologies and a development pipeline with 4+ GW of solar, battery, hydro, onshore wind and offshore wind projects, FirstLight specializes in hybrid solutions that pair hydroelectric, pumped-hydro storage (including Northfield Mountain, the largest energy storage facility in New England), utility-scale solar, large-scale battery, and wind assets. The company’s mission is to accelerate the decarbonization of the electric grid by supporting the development, operation, and integration of renewable energy and storage to meet the world’s growing clean energy needs and deliver an electric system that is clean, reliable, affordable, and equitable. Based in Burlington, MA, with operating offices in Northfield, MA, New Milford, CT, Oshawa, ON and Montral, QC, FirstLight is a steward of more than 14,000 acres and hundreds of miles of shoreline along some of the most beautiful rivers and lakes in North America.

FirstLight is wholly owned by PSP Investments, one of Canada’s largest pension investment managers. We have over 200 employees in Canada and the US with operations based in Massachusetts, Connecticut, New York, Pennsylvania, Ontario and Quebec. In Canada, FirstLight operates through its subsidiaries H2O Power and the recently acquired Hydromega, which is headquartered in Montreal.

We proudly serve our host communities and beyond through our clean energy assets, the recreation spaces we steward, the jobs we produce, and the economic benefit we deliver through our operations and charitable actions.

We are a team of caring, passionate professionals who are driven to deliver positive climate impact and to have fun while doing it! We value diversity, equity and inclusion and encourage people with diverse perspectives, skills and experiences to apply.

Position Detail:
We are looking for an experienced Manager of Quantitative Portfolio Management to join our Commercial team for this remote role.

Reporting to the Director of Quantitative Services, the Manager of Quantitative Portfolio Management supports decision-making through quantitative and financial analysis for stakeholders throughout the organization. The position plays a key role in the implementation of commercial strategies through pricing and structuring, wholesale market analysis, and quantitative risk evaluation. This role will support development of FirstLight’s quantitative and fundamental views in relevant power markets along the entire curve, working closely with team members and cross-departmentally to share insights and market views.

Our ideal candidate possesses experience, passion and energy to be a driving force in FirstLight’s continued evolution to accelerate the decarbonization of the electric grid to meet the clean energy needs of tomorrow.

Key Responsibilities Include, But Are Not Limited To:

• Develop models to analyze the economics of new projects and commercial transactions;
• Build and maintain analytical models and utilize industry standard techniques to conduct due diligence, identify strategic opportunities, and measure risks in power and environmental product markets;
• Decisively resolve real-time issues and ad-hoc analytical requirements;
• Build strong working relationships across functions and team to support full transaction life cycle from pre-trade analysis to execution and settlement/integration;
• Proactively manage information flow and implement workflow procedures with stakeholders by engaging in in-depth discussions across departments and functions;
• Manage insights from internal and third-party reference sources to lead integration to long-term forecasts and financial modeling applications;
• Synthesize results of quantitative models and qualitative phenomena to lead decision-making for senior management and other stakeholders;
• Support ETRM implementation and integration to enhance risk management workflows;
• Perform other duties and responsibilities as assigned;
• Comply with all FirstLight policies and procedures.

Job Qualifications / Skills

• Bachelor’s degree or above with a quantitative focus including economics, finance, econometrics, mathematics, or other similar fields;
• 5+ years of experience in power markets or energy trading experience with an independent power producer is a plus;
• Proven expertise applying financial modeling concepts (DCF, NPV, multiples) within the energy sector for portfolio, asset, and real option valuation;
• Experience in exploratory analysis and statistical model development for market and operations insights through methods such as regression, time series analysis, and Monte Carlo simulation;
• Understanding of energy markets and its fundamental drivers for products including power, natural gas, and environmental attributes (including RECs);
• Advanced proficiency in Microsoft Excel, PowerQuery, and VBA is required;
• Programming abilities in Python, MATLAB, and SQL, a plus;
• Experience with data aggregation, exploratory analysis, and analytics applying the Python scientific stack including pandas, seaborn, plotly, statsmodels, and others;
• Knowledge and experience in structuring financial and physical products for risk management;
• Knowledge of and experience in over-the-counter transactions, forward markets, physical markets, and/or future markets;
• Understanding of power market (including basis risk, capacity, ancillary services, price formation, etc.) and risk management (mark-to-market, P&L, delta hedging) concepts;
• Ability to communicate effectively including simplifying quantitative insights and their impacts to the business for internal and external stakeholders;
• Resourceful and comfortable operating in an entrepreneurial environment.

Why Work for FirstLight?

We consider our employees to be our most valuable resource and we strive to provide a challenging, collegial, and rewarding workplace. FirstLight embraces a company-wide commitment to recruit, develop, and retain a dedicated, diverse, and engaged workforce that is motivated to be ever better both professionally and personally.

Joining the FirstLight Team is an opportunity to experience a unique and exciting culture. Some of our benefits for eligible employees include:

• Comprehensive Medical, Dental, Vision, Life and Disability Insurance
• Paid Parental Leave
• Health and Wellness Programs
• Mental Health Care
• 401(k) with Employer Matching
• Flexible Spending Account
• Health Savings Account
• Annual Performance Incentive Plan
• Employee Assistance Program
• Generous Paid Time Off Plan
• Paid Holidays
• Professional Development
• Employee Referral Program
• Tuition Reimbursement
• Charitable Matching Program & Employer Sponsored Volunteer Program

FirstLight provides equal employment opportunities to all employees and applicants without regard to race, color, religion, gender, age, sexual orientation, national origin, ancestry, disability, genetics, veteran status or any other characteristic protected by state, federal and local laws. In addition to federal law requirements, FirstLight complies with applicable state and local laws governing nondiscrimination in employment in every location in which the company has facilities. Reasonable accommodations may be made to enable individuals with disabilities to perform essential job functions.

FirstLight’s values are:
Respect Integrity Safety Excellence Innovation – Team

Join Our Team!

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