BETM

Director / Managing Director, Business Development - West

Boston Energy Trading & Marketing, Boston, Massachusetts, United States of America Req #35
Tuesday, January 30, 2024

Boston Energy Trading and Marketing (BETM) is a wholly-owned subsidiary of Mitsubishi Corporation, a global integrated business enterprise that develops and operates businesses across virtually every industry. Mitsubishi’s current activities have expanded far beyond its traditional trading operations to include investments and business management in industrial goods, retail, new energy, infrastructure, finance and new technology-related businesses.

Boston Energy Trading and Marketing provides asset management & optimization services to owners of generation and energy storage in North America, and wholesale energy to retail power & gas suppliers. Our proprietary traders cover competitive power markets including New England, Midwest and Western markets. BETM has been optimizing our customers’ generation assets for over 15 years. Our current organization has its roots in Citizens Power, dating back to 1989 when Citizens obtained the first FERC power marketing license and market-based-rate authorization. Mitsubishi’s Diamond Generating acquired BETM from NRG Energy in August 2018, and prior to 2014 BETM was known as Edison Mission Marketing and Trading. Mitsubishi's provides BETM with investment-grade credit support for BETM’s commercial activities.

 

Role Summary:

Boston Energy Trading and Marketing (“BETM”) is looking for an Originator to join its Boston-based team in support of growing the customer-driven structured energy transactions business. The successful candidate will possess a strong commercial acumen combined with a commodity trading and analytical background. The candidate must be adept at working independently as well as have strong collaborative capabilities across the Commercial, Analytics, Risk, Business Development, Finance and Trading teams. This position will report to the SVP of Business Development and will be located in Boston, MA, Houston, TX, or Remote.

 

Responsibilities:

  • Customer Development:  Represents Boston Energy to customers at the highest level of counterparty organizations. Work with management of these customers at levels up to the CEO. Build trust-based relationships leading to closing transactions that can have material impact on the profitability/reputation of the counterparty. Build a customer base of diverse counterparties including generators, IPPs, power marketers, private equity companies, retail power and gas providers, investor-owned utilities, municipalities, cooperatives, and non-utility retailers. Develop a deep understanding of the customer’s needs and insight as to how Boston Energy can formulate arrangements to meet those needs. Represent Boston Energy in a professional and ethical manner.
  • Product Development: Develop sufficiently detailed knowledge of customer needs to formulate compelling structured products and energy management services. Combine these specific needs along with standard products and services to create bundled solutions for customers. Maintain high awareness of the competitive environment.
  • Pipeline Management: Effectively track and communicate with management the status of sales opportunities and client activity.
  • Transaction Execution: Work with a diverse group of Boston Energy and internal corporate support personnel to complete transactions. Develop service and supply agreement that can be profitably supported by Operations. Prepare RFP responses, proposals, bids, and other documents to market transaction concepts to potential customers. Conduct sales meetings with customers. Lead negotiations on multi-million dollar transactions. Work with Legal, Credit, Operations, Settlements, IT and Regulatory staff as required refining contract terms and conditions.   Ensure appropriate levels of approval are obtained prior to deal execution. Close profitable transactions.
  • Customer Management: Follow-up with established customers and Boston Energy staff for continued process and service improvement. Support the internal service delivery system by working cooperatively and effectively with support group staff.
  • Travel: 25- 50% travel requirement to establish and maintain customer business
  • Performance: Compensation for this position is determined by the ability to meet the primary responsibilities and achieve earnings targets.

Qualifications:

  • 5-10+ years power/energy industry experience
  • Direct experience working in a commodity trading / energy risk management business
  • Strong commercial skills and proven "hunter" that identifies and closes large wholesale power transactions; critical thinker with good judgment skills who doesn't simply accept a "business as usual" approach.
  • Must have industry contacts; demonstrated ability to originate and close transactions.
  • Advanced knowledge of options, basis risk, hedging, losses, congestion, and other power marketing concepts; advanced knowledge of the US electric industry, electric & gas energy markets, and market structures especially in CAISO, the Desert Southwest, the Pacific Northwest, and Western Canada
  • Conversant in key concepts germane to load, generation, storage & energy management services, e.g. hedging, scheduling, dispatching, power-fuel coordination, bid optimization, settlements, risk management & performance tracking.
  • Driven, hard-working individual with high standards for self and others; resourceful and comfortable operating in an entrepreneurial, matrixed, environment.
  • Outstanding problem-solving, strategic-thinking, presentation, verbal and writing skills.
  • Experienced developing new business, managing customer relationships, identifying customer needs, developing proposals, structuring and negotiating transactions, managing complex projects to closure, closing deals, managing customer onboarding and ongoing customer relationships. 
  • Bachelor’s degree in finance, Engineering, Economics or Business; M.B.A or advanced technical degree preferred.
  • Proficient in Excel, PowerPoint & other MS Office applications
  • Ability and willingness to travel throughout domestic footprint.

 

Level, Title and/or Salary may be adjusted based on the applicant’s experience or skills

Other details

  • Job Family BETM
  • Pay Type Salary
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Location on Google Maps
  • Boston Energy Trading & Marketing, Boston, Massachusetts, United States of America