Assistant Vice President, Settlements

Overview

Company Overview

Pattern Energy is a leading renewable energy company that develops, constructs, owns, and operates high-quality wind and solar generation, transmission, and energy storage facilities. Our mission is to transition the world to renewable energy through the sustainable development and responsible operation of facilities with respect for the environment, communities, and cultures where we have a presence. 

Our approach begins and ends with establishing trust, accountability, and transparency. Our company values of creative spirit, pride of ownership, follow-through, and a team-first attitude drive us to pursue our mission every day. Our culture supports our values by fostering innovative and critical thinking and a deep belief in living up to our promises.  

Headquartered in the United States, Pattern has a global portfolio of more than 30 power facilities and transmission assets, serving various customers that provide low-cost clean energy to millions of consumers.

Responsibilities

Job Purpose 

A key member of the Controller’s organization, providing executive leadership to the Back Office settlements and revenue functions and ensuring accurate and timely settlement of highly complex renewable energy workstreams across multiple Independent System Operators (ISOs), with particular emphasis on CAISO. This role leads the end-to-end market settlements-to-billing lifecycle, including a high-level understanding of intricate contractual structures and how market settlement results flow through to final billings under Power Purchase Agreements (PPAs) and related commercial agreements. The candidate will collaborate extensively with the front & middle office, origination, fundamentals and asset management teams to help drive the understanding of the market interaction strategy and the structure of revenue arrangements. The candidate will serve as a senior point of interface with ISOs. The role is responsible for leading a growing back-office energy and transmission settlements organization and a revenue team of approximately 10-12 people, including setting priorities, strengthening controls, and driving process and system enhancements (including Allegro and PowerOptix/Bid-to-Bill capabilities as applicable).

Key Responsibilities

• Oversees a team responsible for: Leading the analysis and settlement of highly complex transactions across multiple power markets and futures exchanges in the U.S. and Canada, interfacing with multiple ISOs and market participants, with particular depth in CAISO (and other ISO/RTO markets including ERCOT, PJM, SPP, AESO, MISO and IESO)
• Managing transmission settlement workstreams under short- and long-term transmission service agreements, including charges/credits from Energy Imbalance Markets (EIM) and transmission sharing with affiliates; shadow-settling ISO/TO and vendor invoices to validate billing determinants and ensure accuracy of charges; and administering a variety of intercompany transmission transactions, including reconciliations and true-ups
• Analyzing, reconciling and invoicing counterparties under the terms of: 1) long-term commercial power arrangements (Power Purchase Agreements (PPAs) and related contracts) with varying degrees of complexity, including settlement-to-billing tie-outs to ensure market settlement results are correctly reflected in final contract billings, 2) sales of renewable energy credits, 3) capacity/resource adequacy and other contractual
• Collaborate and drive the market, shaping Pattern’s revenue arrangements and market participation, including the evaluation of commercial power and other contractual revenue arrangements with existing or potential counterparties to identify risks and potential value leaks as they relate to the settlement structures
• Lead the back-office function to use best practices to manage energy settlements, including transmission; contract invoicing of power purchase agreements, REC (or similar) contracts, RA contracts and other energy-related agreements.
• Collaborate with revenue team for accounting and reconciliation of all revenue and trade receivable accounts. Evaluation of commercial power and other contractual revenue arrangements to ensure appropriate US GAAP treatment and disclosure requirements.
• Lead in the design and implementation of our Allegro and PowerOptix system for use in the settlement of contractual revenue, including complex PPAs and transmission agreements.
• Develop & lead a transmission settlements team to support transmission operations, including the settlement of transmission contracts and those associated with owning and operating a transmission line. Knowledge of FERC regulatory requirements is essential.
• Supports execution of management initiatives and may include other activities