Power Senior Trader

3 weeks ago

London Area, United Kingdom Commerzbank AG Full time

A leading corporate banking and capital markets organisation is seeking a Power Senior Trader to join their team in London.


Main Purpose of the Role:

The Commodities trading desk is looking for a highly motivated individual with a strong level of intellectual curiosity to join their team in London as a senior Power trader.


Your mandate will be to develop the bank’s Power trading business.

The successful candidate will have a deep understanding of European power markets as well as an entrepreneurial mindset and a solid business acumen to drive the growth of the power business line.


The role will involve further developing the bank’s financial power business as well as building up a physical power business which will serve Commerzbank’s large client base.


As a senior Power trader you will steer the various front office and support units in order to expand Commerzbank’s power trading capabilities.

Your daily trading tasks will be to structure, price, trade, manage positions and generate alpha on Power contracts (physical and financial) in order to develop the bank's power franchise in a risk controlled, capital efficient and cost-effective manner.


Key Activities and Key Competencies:

  • Effectively market make, manage risk and keep senior staff informed of current risk positions, be up to date with the rules and regulations of Power markets and exchanges.
  • Work with the Head of Commodity trading to implement the most optimal trading strategies on power assets.
  • Interact with OTC/listed brokers to make sure the best execution is always performed.
  • Build and maintain strong relationship with Trading counterparties.
  • Monitor current market levels and competitor pricing, mark the trading books and make available such market data across the Commodity platform, reconcile and ensure accuracy of Risk and Profit & Loss figures on a daily basis.
  • Keep trading books within all required risk limits.
  • Develop technical, market, product and technological expertise in a fashion consistent with the strategic aims of the business.
  • Act as subject matter expect on Power within the bank and promote the franchise with all internal stakeholders.
  • Coordinate with Support units, specifically IT, in order to set up new instruments/tools in the various trading systems.
  • Work with the operations team to enable them to handle the settlement and delivery of financial and physical power contracts.
  • Actively promote the Power franchise with Sales teams. Provide accurate and timely prices on their requests and provide regular trade ideas and market comments.
  • Assist in the further automation and digitisation of the Power business, coordinate projects, monitor performance against objectives.
  • Typical instruments traded include spot, futures, forwards, swaps both cash settled and physically settled.
  • Generate trading alpha by leveraging the client business and using fundamental analysis of the market within given VaR and risk limits.


Key Requirements:

  • Relevant experience in Power trading is essential.
  • Strong understanding of the Emissions trading schemes in the EU and UK (EU ETS and UK ETS). Experience in the primary markets auctions is a plus.
  • Sharp technical expertise in Energy derivatives contracts.
  • The successful candidate will have a solid understanding of the various Energy supply and demand fundamentals in Europe.
  • Robust understanding of the key end-consumers and suppliers in Europe and the UK.
  • Ability to carry out execution of multiple Energy contracts in a tight frame in the most efficient, compliant and cost-effective way.
  • Experience in discussing EFET Power Master agreement is desirable.
  • Excellent numerical and analytical skills.
  • Solid problem-solving abilities.
  • Strong commercial mindset and high communication skills.
  • High entrepreneurial attitude required to develop a business.
  • Excellent P&L track record.
  • The successful candidate is likely to be educated to degree level in Mathematics, Physics, Engineering, Econometrics, or similar highly quantitative discipline.

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