Trader, AVP

Citi • Houston, TX

4d • Hybrid

About The Position

Citigroup Energy Inc. seeks a Trader, AVP for its Houston, Texas location. Duties: Trade PJM (Pennsylvania-New Jersey-Maryland Interconnection) and MISO (Midcontinent Independent System Operator) basis trades; lead basis trading strategy development in PJM with a strong focus on interzonal and nodal congestion dynamics. Execute FTRs (Financial Transmission Rights) (Nodal and Zonal) with relevant ISOs (Independent System Operator). Quote PJM&MISO basis prices to sales desk for customers looking to hedge at zonal or nodal level. Build and test regression as well as machine learning models to analyze historical PJM basis price movement and combine with fundamental view to form trading strategies. Analyze and trade PJM delivered Sparks and Heat Rates by zone and generator nodal levels. Collaborate closely with fundamental analysts, quantitative researchers, and other traders to share insights and refine strategies. Use Python, Java R, C++ for trading analysis. Build data pipeline between Dayzer and desk using SQL to tune and import model inputs to Dayzer and export simulation results out of Dayzer. Run stress scenario tests thru historical data and transmission right pricing tools as Dayzer to analyze PJM zonal hourly shape. Perform Value at Risk (VaR) analysis. Transact products included on PPL and within predetermined tenor limits. Mentor junior analysts on power trading basics and desk operations and contribute to a high-performance team environment. A telecommuting/hybrid work schedule may be permitted within a commutable distance from the worksite, in accordance with Citi policies and protocols.

Requirements

• Requires a Master’s degree or foreign equivalent in Analytics, Economics, Mathematics, or related field and 1 year of experience as a Commodities Program Analyst, Trader, Commodities Analyst, or related position performing trading analysis and trading desk and database programming to conduct market analysis for a global financial services institution. Alternatively, employer will accept a Bachelor’s degree in the specified fields and 3 years of experience in the above positions.
• Full span of experience must include: Trading programming with Python, Java, R, C++; Utilize SQL database to analyze data; Build analytical models using Regression Techniques: Linear, Polynomial, Logistical and Supervised Machine Learning Modeling: Random Forest, XGBoost, Naive Bayes; Apply Advanced Machine Learning and Neural Network Algorithms including Neural Networks and Deep Learning: CNN, LSTM, GANs and Unsupervised Machine Learning Modeling: k-means Clustering; Analyze market system using Dayzer, PowerBI, VBA; Market risk and PNL calculation; and Perform PJM congestion and PJM market analysis to quote market prices in both OTC and FTR markets.

Responsibilities

• Trade PJM (Pennsylvania-New Jersey-Maryland Interconnection) and MISO (Midcontinent Independent System Operator) basis trades
• Lead basis trading strategy development in PJM with a strong focus on interzonal and nodal congestion dynamics
• Execute FTRs (Financial Transmission Rights) (Nodal and Zonal) with relevant ISOs (Independent System Operator)
• Quote PJM&MISO basis prices to sales desk for customers looking to hedge at zonal or nodal level
• Build and test regression as well as machine learning models to analyze historical PJM basis price movement and combine with fundamental view to form trading strategies
• Analyze and trade PJM delivered Sparks and Heat Rates by zone and generator nodal levels
• Collaborate closely with fundamental analysts, quantitative researchers, and other traders to share insights and refine strategies
• Use Python, Java R, C++ for trading analysis
• Build data pipeline between Dayzer and desk using SQL to tune and import model inputs to Dayzer and export simulation results out of Dayzer
• Run stress scenario tests thru historical data and transmission right pricing tools as Dayzer to analyze PJM zonal hourly shape
• Perform Value at Risk (VaR) analysis
• Transact products included on PPL and within predetermined tenor limits
• Mentor junior analysts on power trading basics and desk operations and contribute to a high-performance team environment

Benefits

• In addition to salary, Citi’s offerings may also include, for eligible employees, discretionary and formulaic incentive and retention awards.
• Citi offers competitive employee benefits, including: medical, dental & vision coverage; 401(k); life, accident, and disability insurance; and wellness programs.
• Citi also offers paid time off packages, including planned time off (vacation), unplanned time off (sick leave), and paid holidays.
• For additional information regarding Citi employee benefits, please visit citibenefits.com.
• Available offerings may vary by jurisdiction, job level, and date of hire.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Number of Employees: 5,001-10,000 employees