Junior or Senior Portfolio Manager, Southern European Origination, Düsseldorf, (m/f/d)

Statkraft Markets (Origination):

Statkraft has been making clean energy possible for over a century. Today, we are Europe’s largest renewable energy producer and a global company in energy market operations.

The business area Markets is responsible for commercially optimising and developing Statkraft’s flexible generation portfolio as well as providing market access, supporting investment decisions and securing long-term value through global hedging strategies.

As part of the Markets business area, the Origination division creates value for our customers and the societies we operate in. We also continually innovate, putting renewable energy to work in new ways, even as the market structure and regulatory environment evolves. Origination is a market-facing division bringing renewable energies to the market and to consumers by offering tailored energy solutions to help maximise value for customers.

Southern European Origination:

Within the Origination division, the Southern European Origination business concludes non-standard, structured and often complex wholesale transactions in Spain, Portugal, France, and Italy. We have been a first mover on long-term PPAs in Spain, and across our countries of responsibility we have by now contracted more than 100 long- and short-term wind and solar PPAs. The business is planning to significantly grow its business in regional and product scope over the next years. 

The responsibilities within Southern European Origination are split between Origination Iberia (Madrid), Origination France (Paris), Origination Italy (Milan), and Portfolio Management (Düsseldorf). While the Origination teams focus on originating, structuring, and negotiating value-adding transactions, Portfolio Management is the custodian of the portfolios – responsible for valuing and wholistically managing all portfolio exposures in the market, as well as providing the model, data, tools and process landscape fundamental to our activities.

The Southern European Origination business model is unique in that complete commercial responsibility for managing risk resides within the business. Local origination and portfolio management closely collaborate on a joint “one team – one PnL” philosophy per region – that is, we all have “skin in the game”.

A Portfolio Manager in Southern European Origination plays several critical yet diverse roles within the business. These might be variously described as:

• Custodian and gatekeeper of portfolio risk
• Provider of guidance on pricing, structuring, risk and opportunity
• Portfolio strategist and tactician
• Idea generator – whether for general business, analysis, hedging strategy, deal structuring, etc.

Responsibilities:

• Understand position exposures in all dimensions
• Maintain a solid market presence so we are able to operate as a significant merchant player in illiquid and intransparent tenors and markets
• Be constantly on top of PnL and its drivers, and ensure adequate internal reporting
• Understand, analyse and present market fundamentals and the regulatory situation
• Generate ideas for positioning and hedging – build risk-reward based argumentation and anchor this with management
• Identify and support the development of new business cases together with originators

Requirements of the Role:

A Portfolio Manager in Southern European Origination has a role that is at the same time:

1. Extremely diverse
   
   

1. Very demanding
   
   

1. Central to the business
   
   

1. One of the most rewarding
   
   

To be successful in this role requires that you:

• Possess a curiosity and continuous drive to uncover opportunity. Your creative, out-of-the-box thinking is highly valued.
• Be willing to make and justify decisions under uncertainty and accept the risk that goes with this.
• Show self-initiative and take ownership of topics within your purview.
• Have a structured and sustainable approach to work, with appropriate attention to detail and aligned with management and business objectives.
• Recognise that we have “skin in the game” and act accordingly – give attention and scrutiny to matters relative to their value and potential impact or risk.
• Have the maturity to know when to delegate and coordinate the efforts of analysts, quants (and others) within the team, or with other middle- and back-office teams when needed.
• Project gravitas and credibility when presenting ideas and aligning on business topics with originators and management
• Take ownership of operational matters -- deal booking, position maintenance, reporting, etc.
• Take a wholistic view of our business, with strong alignment to the “one team, one PnL” principle
• Proactively and critically contribute to strategic discussions
• Have impact on the origination interface, challenging and contributing to products and pricing
  
  

Qualifications:

• (Senior) At least 5 years’ experience in a similar front office role, with shared and/or individual PnL responsibility.
• University degree in a relevant field of study.
• Excellent quantitative and analytical skills.
• Proficiency with data analysis in Excel and/or Python.
• Written and spoken fluency in English is essential. Italian, French, Spanish or Portuguese advantageous.
  
  

Additional information

If you feel spoken to, please reach out. We’d love to hear from you.

What we offer:

A career with Statkraft is a career filled with purpose – meaning that every employee is not just making a living, they are making a real difference to the planet, our communities and the future. Together, we work on the front lines of changing the game for renewable energy. From hydrogen development to algorithmic trading and everything in between, we have 125 years of unrivalled expertise in creating the technologies that put ecosystems, communities and our environment first. With us, you’ll shape a career that is truly forward-facing with many amazing opportunities and offerings to match.

This includes:

• Extensive professional and personal learning and development opportunities
• The chance to grow your career alongside a truly global network of experts, leaders, specialists and graduates from different countries and backgrounds
• A diverse workplace with regard to gender, age and cultural background

Statkraft offers competitive terms of employment and benefits schemes, and we’re a trusted employer that puts the safety of our people first. We believe that a safe and healthy working environment is a matter of choice, not chance.

Statkraft manages critical infrastructure and services in several countries. The applicant must be eligible for security clearance and authorisation.