Northland Power Inc. (“Northland”) is an independent power producer dedicated to developing, building, owning and operating clean and green power projects. Northland is focused on the development of sustainable power generation. Our facilities produce electricity from clean-burning natural gas and renewable resources such as wind, solar and biomass.
Established in 1987, Northland was one of Canada's first independent power producers. Today, Northland trades on the Toronto Stock Exchange, earns approximately $1 Billion per year, has over $10.0 Billion in assets, and almost 1,000 employees working across the organization.
Northland has achieved a remarkable growth trajectory, currently operating 20+ facilities in Canada and Western Europe with almost 3GW in operation. Northland is positioned for continued growth in the years to come, pursuing and developing projects in North America, Europe, Mexico, Northeast Asia, Japan, South Korea and Latin America.
This is a new position within Northland Power. The Desk Head will run all active trading operations and provide marketing support to Regional Development Offices (RDO) as required in order to design competitive merchant and contracted revenue strategies which underpin and effectively balance risk with optimization potential.
While Northland operates a modest energy marketing business located in Toronto, a significant part of our global development strategy is based on developing new power projects around structured origination, including the management of merchant exposure and commercial and industrial (C&I) off-take. Newly emerging off-take contract structures can vary depending upon the needs of the customer and the markets in which they operate their business. The Desk Head will need to develop a framework for quantifying and managing contract structures which reference market pricing and may have open market exposures related to various products including but not limited to: energy and capacity pricing, Renewable Energy Credits (REC) pricing, gas pricing, nodal basis pricing, FX, etc. Northland is looking for a senior marketing professional who will provide the guidance required to support this initiative.
Our philosophy is to de-risk the merchant and variable revenue streams related to our projects using back to back transactions where possible and where not possible to devise a short and long-term hedge and risk mitigation strategy designed to help stabilize and optimize the long-term profitability and cash flow of our development projects and to ensure that Northland can execute upon these strategies after projects transition to operations.
We are looking for an experienced energy marketing leader who has significant knowledge of energy related products and contract structures in the Americas based upon experience in trading and marketing operations, origination of transactions with C&I customers, contracting with other third-party marketers and financial institutions. The successful candidate will leverage their experience working with a broader Northland Team including our Developers, Originators , Commercial Asset Managers, Finance, M&A, and legal teams to support project economics, financing capability and internal approvals of projects during the development phase. Northland will continue to evolve electricity marketing capability, execution strategy and the required resources (in-house or contracted) to manage the otherwise merchant exposure of these development projects after they are declared commercial.
The Desk Head and the broader team listed above will ensure Northland realizes its new development project PPA revenue forecasts while also providing the support required to secure suitable post PPA revenue streams and de-risk merchant exposures which exist in the post PPA term of an operating project (business).
This role reports to Northland’s COO and will be located in Toronto with moderate travel expected.
Broad accountabilities for the role are divided between Development support and the operational marketing business. Listed below is a mix of development support and operational accountabilities divided into Front Office, Middle Office and Back Office. As the leader of marketing in the Americas your experience is weighted in Commercial (Front Office) but you are expected to work closely with the leadership of Middle Office (Treasury) and Back Office (Accounting and Reporting) to ensure the functionality and profitability of existing marketing business operations. The Middle Office and Back Office reports to Northland’s CFO for internal controls purposes, but close collaboration is needed for strategy and execution.
Commercial Activities (Front Office Accountabilities)
- Overall accountability for Northland’s marketing business in the Americas including existing marketing operations
- Development support for C&I contract origination and sign off related to market inputs to C&I off-take structures, financial hedging strategies and related merchant assumptions for new and existing development projects
- Accountable for contract customer relationship management in the Americas
- Working with Asset Management to ensure adequate energy scheduling and gas nominations procedures
- Support for the negotiation of succeeding contracts with support from the RDO
- Working with Northland’s Canada & US as well as LATAM RDO’s and Northland’s EVP of Development, you will ensure Northland’s RDO’s have adequate marketing support and C&I offtake support for both origination of new contracts and management of existing contract accounts
- Working with RDO’s, you are responsible to ensure the management of the relationship with 3rd party Americas marketers who may be contracted to buy off-take from Northland projects and / or sleeve transactions to support optimization of Northland projects
- Overseeing ongoing profitability of operations within Northland’s existing marketing business
- Accountable for asset hedging strategies, execution, management and reporting of same
- Accountable for all regional marketing operations whether contracted or in-house
- Accountable for negotiation of 3rd party marketing agreements for regional marketing / transaction support as may be required
- Accountable for the Americas marketing budgeting, earnings forecasts and long-term financial models
Risk & Credit Management (Middle Office Support)
- Working closely with the Middle Office to participate in the identification, development and update of the transaction governance, policies, processes and procedures within Northland’s marketing operations as required and ensuring front office personnel work within the established control structure
- Ensuring front office compliance with third party auditors related to marketing activities as required
- Monitoring and managing risk per approved governance related to credit, volumetric position, MtM, VaR, etc.
- Understanding and explaining reporting variances or inconsistencies and challenging unusual items
- Working with Middle Office and Legal to support the management of counterparty credit assessments and evaluations of applicable counterparty credit support
Financial Reporting (Back Office Support)
- Working closely with the Back Office ensuring adequate processes and procedures are in place for both external & internal financial reporting on marketing operations regionally and Americas (standard, adhoc reporting and budgeting as required)
- Support the Back Office on maintaining controls and assisting with audit requests & investigations
Education, Experience & Attributes
- 10 plus yrs. of marketing energy commodities preferably within Americas
- Your marketing experience is a combination of trading, asset management and origination
- You understand different applications of physical vs. virtual products as it relates to energy transactions
- You understand C&I contract structures and have experience contracting many different power purchase agreements with experience supporting and leading C&I off takes
- Minimum of an undergrad degree in business or equivalent
- Professional credentials such as ERM, CPA, CFA or MBA is an asset
- Experience in international energy markets
- Strong financial acumen and a natural affinity for financial concepts
- Keen business sense, and an ability to identify and implement broad initiatives both in the field and in the corporate office and understand their impact on the overall corporation
- You understand how to read and interpret financial statements, credit and risk reporting and credit assessments and you are comfortable identifying and challenging things that you don’t understand
- Ability to understand operational performance drivers and key operational issues, and to identify opportunities to improve profit margin
- Experience in the development of and appreciation for principles of corporate governance.
- Ability to interface effectively with senior management
- Exceptional decision making, negotiation, communication, and presentation skills, demonstrating a strategic and objective approach to challenges and opportunities
- Strong leadership and interpersonal skills; relates to a variety of styles and can build trust and consensus in a team
- Exemplary integrity and teamwork; values the sharing of information and common goals; is open and honest
- Sense of urgency, self-motivated, pro-active, and a disciplined doer with high energy and stamina.
- Results oriented with the ability to prioritize and deliver key initiatives
- Demonstrates a knowledge of and appreciation for the benefits of system integration for tracking monitoring and reporting
- Strategically knows how to leverage technology to drive results and improve efficiencies.
- Ability to work with a wide range of roles and personalities
This document is a guide. The duties, responsibilities, and requirements of the job as described herein are not inclusive and are subject to change.
If interested, please forward your resume to firstname.lastname@example.org. Please reference "North American Desk Head" in your email title.