Power / FTR Trader

This is a remote position.

We're hiring an FTR trader to build and run positions in the PJM Financial Transmission Rights market, with room to extend into MISO over time. The mandate is to generate returns while keeping risk within defined limits, which means you'll need a working command of the transmission grid, how congestion behaves across the footprint, and the mechanics of how FTRs settle. Day to day, you'll read the fundamentals, place bids across the auction calendar, and work the secondary market to keep the book well-positioned.

What you'll do

Fundamentals and strategy

• Build models of generation, load, and grid congestion to surface trades worth putting on in PJM.
  
• Turn analysis of past congestion, planned outages, and shifting market conditions into concrete positioning, including how new generation coming online reshapes power flows.
  
• Track the drivers that move power pricing, supply, and grid reliability across the region.
  
• Assess how larger energy transactions ripple through the existing FTR book.
  
• Bring quantitative methods into what is otherwise a fundamentals-led approach, so the portfolio is built deliberately rather than trade-by-trade.
  

Execution

• Trade the full auction cycle, long-term, annual, and monthly, plus the secondary market.
  
• Size and place bids and offers that fit the desk's risk appetite, and rework existing positions through secondary trades when that adds value or trims exposure.
  
• Stay in sync with adjacent desks so FTR positions reinforce the broader energy book rather than working against it.
  
• Keep clean records and report performance on a regular cadence.
  

Risk

• Run a disciplined risk process around everything the desk trades.
  
• Design hedges that take congestion exposure down to acceptable levels.
  
• Track and report positions, mark-to-market, and the key risk measures.
  
• Keep all activity inside internal risk policy and applicable regulation.
  

Market intelligence

• Keep on top of grid changes, rule updates, and conditions across PJM.
  
• Judge how renewable build-out, plant retirements, and transmission projects will bend congestion patterns.
  
• Cultivate relationships with counterparties and market stakeholders.
  
• Feed what you learn back to internal teams and coordinate accordingly.
  

Requirements

What we're looking for

• Degree in finance, economics, engineering, math, or something adjacent; an advanced degree is a plus.
  
• Roughly 3-5+ years trading power, with real time spent in FTR or CRR markets specifically.
  
• A track record of FTR strategies that worked and a book you actually managed.
  
• Solid grasp of how PJM is structured and how it settles.
  

Technical

• Real depth on FTR instruments, both options and obligations.
  
• Strong on congestion analysis and the constraints that drive it in PJM.
  
• Comfortable in FTR Center and the other PJM market interfaces.
  
• Hands-on with power-flow tools in the space.
  
• Capable with data work and financial modeling in Excel plus a scripting language (Python, R, or equivalent).
  
• Familiar with production-cost modeling for power markets.
  

How you work

• You spot the signal in messy data and act on it.
  
• You decide well when the clock's running and the picture's incomplete.
  
• You can explain a strategy and its results plainly to people who need to hear it.
  
• You run your own book without needing to be pushed, while still pulling for the team.
  
• You're careful, on the trade itself and on the risk around it.