Point72 Asset Management is seeking a Risk Manager specialized in Gas and Power Trading to join our Risk Management & Quantitative Research (RQR) team. 

The RQR team plays a vital role in the firm’s investment process, building a deeply rooted culture of efficient risk management and factful performance attribution. Risk managers will lead research efforts to identify opportunities for improved risk management, investment behavior, and portfolio construction, with the goal of helping the firm deliver superior risk-adjusted performance. The paramount mission of the team is to protect the firm from excessive levels of exposure and ensure that risk-taking is efficient and deliberate.

The Risk Manager will:

• Focus on the risk and activities of all Gas and Power Trading PMs as well as overall such risk across the Global Macro and Cubist Macro businesses. More specifically, this includes:
  • Identifying, capturing, and communicating material risks of the business, including credit, tail risk, liquidity, and convexity.
  • Ensuring that risk-taking at the individual portfolio level and at the firm level is efficient and deliberate, by setting appropriate risk guidelines and limits.
  • Developing and advancing stress testing and VaR frameworks.
  • Developing and maintaining a framework for capital allocation to maximize risk-adjusted returns and profitability at the various business levels and at the firm level.
  • Actively managing the firm’s risk exposures through regular meetings, analysis and insights.
  • Leading research efforts to develop innovative risk management approaches, tools and analytics by leveraging the collective knowledge of the platform. The goal is to enhance the quality of performance and improve the firm’s risk-adjusted return.
  • Enhancing management’s understanding of investment performance by developing intuitive and efficient frameworks for performance attribution and educating all internal constituencies on those frameworks.
• Provide additional support with other risk managers in managing the market risk across the Macro business.
• Manage and mentor Quantitative Analysts on the team.

We seek candidates with:

• Five or more years of experience as a risk manager or a portfolio manager, directly related to US and European power & gas products.
• Solid energy product knowledge and analytical rigor in terms of pricing models, risk sensitivities and the best practice for risk aggregation in a portfolio context
• Detailed understanding of risk management, portfolio construction, and trading.
• High level of proficiency in SQL and quantitative programming (e.g. Python, MATLAB, R); experienced in dealing with large data sets.
• Strong communication skills and prior experience interacting with portfolio managers.
• The ability to manage multiple tasks independently and deadlines in a fast-paced environment.
• Ability to proactively seek new ideas and solution to improve the status quo.
• Ability to work cooperatively with all levels of staff as part of a team.
• Excellent interpersonal skills and “emotional intelligence” – we seek a demonstrated ability to build relationships both internally and externally.
• Strong communication skills – an ability to clearly and concisely articulate complex ideas to senior management and portfolio managers is critical.
• A commitment to the highest ethical standards and to act with professionalism and integrity.

Point72 offers substantial career opportunities:

• We are a workplace where performance and integrity go hand in hand
• We are committed to personal and professional development
• We expect and reward innovation and creativity
• We create opportunities for long-term careers
• We measure success by the merits of the work, its quality and the results obtained

Point72 is a leading global alternative investment firm led by Steven A. Cohen. Building on more than 30 years of investing experience, Point72 seeks to deliver superior returns for its investors through fundamental and systematic investing strategies across asset classes and geographies. We aim to attract and retain the industry’s brightest talent by cultivating an investor-led culture and committing to our people’s long-term growth.

Role:

The Quant Researcher will report to a Stamford based Portfolio Manager and will focus on:

• Building, running, and maintaining power dispatch model for ERCOT and other major US ISOs
• Driving the model’s inputs and architecture to efficiently simulate power grid conditions and marginal pricing
• Continuously testing and improving the model, ensuring it accurately replicates historical conditions and effectively analyzes forward scenarios
• Communicating the model’s results and limitations to the wider investment team

Responsibilities:

• Formulate and build a power dispatch model using Python and a commercial solver
• Collaborate with the PM to optimize model inputs and architecture
• Ensure the model replicates grid operations from historical conditions
• Suggest model improvements to decrease forecast error and improve scenario handling
• Regularly run the model and maintain up-to-date outputs in an internal database
• Communicate results and limitations to the wider investment team, including publishing results to team dashboards

Requirements:

• Master or PhD in operations research, electrical engineering, applied mathematics, or a related quantitative field
• 5+ years of direct experience building power dispatch models (SCUC/SCED) using optimization solvers (Gurobi, CPLEX, etc.)
• Knowledge of power plant dispatch, grid operations (including capacity and AS obligations), and LMP pricing in US power markets
• Experience using SQL and timeseries databases
• Proficiency in Python and Git; additional experience with an OOP language a strong plus
• Domain knowledge in ERCOT, PJM, or CAISO preferred

About Point72:

Point72 is a leading global alternative investment firm led by Steven A. Cohen. Building on more than 30 years of investing experience, Point72 seeks to deliver superior returns for its investors through fundamental and systematic investing strategies across asset classes and geographies. We aim to attract and retain the industry’s brightest talent by cultivating an investor-led culture and committing to our people’s long-term growth.