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BRL-MKT-01 · Power Trading & Markets
Head of Power Trading
Exchanges & Markets Pune (Head Office) · On-site 15–20 years · Leadership Board track
Power trading is where BARREL's generation, storage and customers meet the market every 15 minutes. You will build and lead the trading business: the desk, the risk framework, the licence obligations and the platform, so that we earn a steady margin while keeping our own and our clients' exposure under control.
Scope of work
- Own the trading strategy across exchange segments, bilateral contracts and banking arrangements.
- Build and lead the trading desk, scheduling team, market analytics and middle office.
- Set and enforce the risk policy: position limits, credit limits, stop-loss rules and approval authorities.
- Ensure full compliance with trading licence conditions, exchange rules and reporting requirements.
- Optimise the dispatch and market participation of BARREL's renewable and storage portfolio.
- Grow the client book of distribution licensees, open-access consumers and generators who trade through BARREL.
- Direct the product roadmap of the Power Trading Exchange and Power Asset Exchange with the technology team.
- Represent BARREL in regulatory consultations on market design, market coupling and new products.
- Report daily and monthly trading results, risk and compliance to the CEO and the Board.
Technical description
- Electricity Act, 2003 provisions on trading, and the CERC regulations on grant of trading licence.
- CERC (Power Market) Regulations, 2021 and the rules of IEX, PXIL and HPX.
- Exchange segments: DAM, RTM, TAM, GDAM, GTAM, HP-DAM, and REC and ESCert trading sessions.
- Indian Electricity Grid Code, 2023 and the CERC deviation settlement regulations.
- Scheduling and despatch processes with Grid-India, regional and state load despatch centres.
- Portfolio risk measures for power: value at risk, mark-to-market of open positions and scenario stress tests.
- Carbon Credit Trading Scheme, 2023 and its interaction with renewable energy certificates.
Commercial description
- Accountable for the trading P&L, gross margin per MWh and return on the capital and credit deployed.
- Owns the trading budget, including exchange fees, collateral, people and systems.
- Sets credit terms and collateral with Finance for every counterparty.
- Works with the CEO, CFO, Chief Risk Officer, compliance, regulators and exchanges.
- Measured on margin, volume, risk-limit breaches, compliance findings and client retention.
Skills required
- Running a power trading desk in India through all market conditions.
- Designing and enforcing risk and credit frameworks.
- Deep knowledge of exchange operations, bidding and clearing.
- Portfolio optimisation of renewable and storage assets against market prices.
- Regulatory engagement and drafting of consultation responses.
- Commercial negotiation of bilateral and banking arrangements with utilities.
- Building and mentoring traders and analysts.
- Clear reporting of P&L and risk to a Board.
- Working with technology teams on trading systems.
Talent we look for
- Disciplined about risk even when the market is rewarding risk.
- Calm, fast decision-maker under time pressure.
- Unbending on compliance and market integrity.
- Builds a culture where traders report mistakes immediately.
- Thinks about market design, not only about the next trade.
Qualifications
- Engineering degree in Electrical Engineering, and an MBA in Finance or equivalent.
- At least 7 years leading a trading or portfolio management function with a licensed trader, utility or generator.
- Certifications in financial risk management (FRM or equivalent) are an advantage.
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