• Education and experience equivalent to graduation from an accredited college or university with a Bachelor's Degree in business, economics, finance or engineering or a closely related field;
• Five (5) years of progressively responsible experience in financial performance analysis, credit analysis and/or energy trading;
• Experience using work-related computer applications, including e-mail, word processing, spreadsheets, databases and the internet is required;
• Experience with Sungard's ZaiNet software and ACES scheduling software is highly desirable;
• Thorough understanding of the credit implications and requirements of both physical and financial trading instruments, that are commonly used to hedge risk is highly desirable;
• An MBA/CFA/CPA degree in business, economics, finance or engineering or a closely related field is highly desirable.

Possession of an appropriate, valid California driver’s license is required.

This is a management position in the Unclassified Service responsible for performing professional level review, analysis, and processing in the reconciliation and risk management functions related to obligations under contract with Silicon Valley Power (SVP).  The incumbent in this position monitors the City’s credit exposure and is accountable for taking action when credit limits are exceeded.  The incumbent must be able to perform a variety of advanced professional, technical and analytical duties in the areas of financial and economic forecasting and risk analysis for SVP. Additionally, the incumbent must have the ability to provide checks and balances of trading opportunities, review credit rating of all counter parties, and use financial instruments to leverage for best financial advantage.

As a member of the City’s Unclassified Service, this is an “at will” position and the incumbent serves at the discretion of the City Manager.  An incumbent in this classification demonstrates strong ethical, professional, and service-oriented leadership and interpersonal skills; sets a good example; and correctly applies the tenets of the City’s Code of Ethics and Values. 

• Analyze and evaluate counterparty credit worthiness;
• Monitor City’s credit exposure and be accountable for taking action when credit limits are exceeded consistent with the City’s energy risk management objectives, risk tolerance, and risk management policies;
• Recommend modifications to existing policy, procedures and/or processes;
• Write complete, concise reports designed to effect improvements and/or implement solutions;
• Performs monitoring, review and analysis of procedures, plans, processes, guidelines, and instructions to ensure compliance with departmental policies;
• Analyze financial statements for the purpose of establishing or denying credit;
• Verifies and confirms volumes, charges, and contract compliance;
• Identifies corrective actions and measures with regard to deficiencies of the settlement process;
• Analyzes risk associated with new energy counterparties;
• Communicates with a wide range of counterparties, utility management, power resources and accounting on a variety of issues;
• Run reports on credit risks and daily trading activity reports; distribute to traders and management;
• Identify and acquire guarantees and other credit tools, i.e. letters of credit, as necessary from counterparties;
• Maintain authorized counterparty list;
• Negotiate with counterparties for adjustments to collateral requirements;
• Validate forward price curve and volatilities in the trading system;
• Work with the Finance Department to handle daily margin calls and monitor collateral issues and;
• Maintain trading excerpts/violation log.

Knowledge of:

• Applicable Federal, State, and local laws, rules, codes, and ordinances affecting the electric utility industry;
• Knowledge of the concepts of Market to Market and Value at Risk;
• Term, prescheduled and real-time trading and scheduled practices, generating and transmission resource characteristics;
• Principles and practices of accounting and auditing and their application to a wide variety of accounting transactions and problems;
• Automated financial management systems;
• Revenues and cost structures in the utilities industry including rates and regulations; financial and risk management instruments; computer models and cost analysis and;
• Complex spreadsheets and database applications.

Ability to:

• Prepare, analyze and forecast complex sets of data and prepare necessary, general and technical, memorandums, reports, and charts as assigned;
• Develop reports in various computer models and scheduling software;
• Identify, research and gather relevant information from variety of sources;
• Read and interpret complex written materials;
• Analyze and evaluate complex accounting and energy transaction data and records;
• Present report contents and provide constructive feedback to departments, organizations and functions impacted by the report;
• Conduct statistical analyses and apply information technology applications, spreadsheets and databases, to analyze and evaluate data; propose reasonable conclusions, effective solutions and potential options;
• Work as team player and be willing to deliver excellent customer service to both internal and external City clients;
• Communicate logically and clearly, both orally and in writing;
• Work effectively in time-sensitive situations and meet deadlines;
• Coordinate multiple projects and complex tasks simultaneously;
• Prepare clear and concise written and oral reports;
• Office safety practices, procedures and standards;
• Analyze and evaluate complex accounting and energy transaction data and records;
• Examine and verify complex financial documents and reports;
• Establish and maintain effective working relationships with those contacted in the course of work including other utilities and regulatory agencies;
• Exercise independent judgment and initiative with minimal supervision and;
• Bend, stoop, reach, carry, crawl, climb, and lift as necessary to perform assigned duties.

Works under the general supervision of Electric Division Manager in the Electric Department or other managers as assigned.

Supervises consultants, contractors and other assigned personnel.

Must be able to perform all of the essential functions of the job.

Incumbents in this position are required to file a Conflict of Interest statement upon assuming office, annually, and upon leaving office, in accordance with City Manager Directive 100.