Assistant Vice President, Settlements

Pattern Energy Group•Houston, TX

13h•Hybrid

About The Position

A key member of the Controller’s organization, providing executive leadership to the Back Office settlements and revenue functions and ensuring accurate and timely settlement of highly complex renewable energy workstreams across multiple Independent System Operators (ISOs), with particular emphasis on CAISO. This role leads the end-to-end market settlements-to-billing lifecycle, including a high-level understanding of intricate contractual structures and how market settlement results flow through to final billings under Power Purchase Agreements (PPAs) and related commercial agreements. The candidate will collaborate extensively with the front & middle office, origination, fundamentals and asset management teams to help drive the understanding of the market interaction strategy and the structure of revenue arrangements. The candidate will serve as a senior point of interface with ISOs. The role is responsible for leading a growing back-office energy and transmission settlements organization and a revenue team of approximately 10-12 people, including setting priorities, strengthening controls, and driving process and system enhancements (including Allegro and PowerOptix/Bid-to-Bill capabilities as applicable).

Requirements

Experienced people leader and strategic thinker with a minimum of 6-8 years in leadership roles and 15+ years of progressive experience in power market and transmission settlements within the electric utility and/or renewable energy industry.
Demonstrated success managing teams that execute highly complex settlement workstreams across multiple ISOs (particularly CAISO), with a high-level understanding of market rules, charge determinants, and end-to-end settlement controls.
Bachelor’s degree in business, economics, math or related field; advanced degree and/or CPA preferred.
Strong working knowledge of complex contractual arrangements, including Power Purchase Agreements (PPAs), and the ability to interpret how market settlement outcomes impact contract billings, collections, and revenue recognition processes.
Experience with transmission settlement, including shadow-settling invoices to validate accuracy of charges and administering intercompany transmission transactions and reconciliations
Implementation and user experience with Allegro and PowerOptix (and related Bid-to-Bill capabilities) strongly preferred.

Responsibilities

Oversees a team responsible for: Leading the analysis and settlement of highly complex transactions across multiple power markets and futures exchanges in the U.S. and Canada, interfacing with multiple ISOs and market participants, with particular depth in CAISO (and other ISO/RTO markets including ERCOT, PJM, SPP, AESO, MISO and IESO)
Managing transmission settlement workstreams under short- and long-term transmission service agreements, including charges/credits from Energy Imbalance Markets (EIM) and transmission sharing with affiliates; shadow-settling ISO/TO and vendor invoices to validate billing determinants and ensure accuracy of charges; and administering a variety of intercompany transmission transactions, including reconciliations and true-ups
Analyzing, reconciling and invoicing counterparties under the terms of: 1) long-term commercial power arrangements (Power Purchase Agreements (PPAs) and related contracts) with varying degrees of complexity, including settlement-to-billing tie-outs to ensure market settlement results are correctly reflected in final contract billings, 2) sales of renewable energy credits, 3) capacity/resource adequacy and other contractual
Collaborate and drive the market, shaping Pattern’s revenue arrangements and market participation, including the evaluation of commercial power and other contractual revenue arrangements with existing or potential counterparties to identify risks and potential value leaks as they relate to the settlement structures
Lead the back-office function to use best practices to manage energy settlements, including transmission; contract invoicing of power purchase agreements, REC (or similar) contracts, RA contracts and other energy-related agreements.
Collaborate with revenue team for accounting and reconciliation of all revenue and trade receivable accounts.
Evaluation of commercial power and other contractual revenue arrangements to ensure appropriate US GAAP treatment and disclosure requirements.
Lead in the design and implementation of our Allegro and PowerOptix system for use in the settlement of contractual revenue, including complex PPAs and transmission agreements.
Develop & lead a transmission settlements team to support transmission operations, including the settlement of transmission contracts and those associated with owning and operating a transmission line.
Knowledge of FERC regulatory requirements is essential.
Supports execution of management initiatives and may include other activities as needed.