BESS & MIDDLE OFFICE MANAGER (Energy Management) MADRID – HYBRID
BNZ is an independent power producer (IPP) in a phase of accelerated growth and expansion, aiming to consolidate itself as a leader in the development and operation of renewable energy assets in Southern Europe (Spain, Portugal, and Italy). The company is part of the portfolio of Nuveen Infrastructure, one of Europe's largest renewable energy fund managers.
The selected candidate will join the Revenue (Energy Management) area, a key department where high performance and autonomy are essential. This is a strategic Manager-level role reporting directly to the Head of Revenue. The position is fundamental to ensuring the portfolio management of the company in terms of hedging strategy optimization, risk management, and modelling. Additionally, it involves providing coordination and expert analysis on the optimization strategy of new energy storage systems (BESS). We are looking for a candidate with a hands-on approach who wants to build internal tools and risk frameworks from scratch.
RESPONSIBILITIES
Mission: To ensure the Revenue department’s coordination and drive the continuous improvement of Middle Office processes. This role is responsible for defining and simulating hedging strategies, managing portfolio risk (Market & Credit), and coordinating the activity of the department regarding Battery Energy Storage Systems (BESS) across the countries where BNZ operates (Spain, Portugal, Italy).
The role is divided into two strategic areas, covering all aspects of Risk/Hedging and BESS performance management.
Hedging Strategy, Risk & Modelling:
Hedging Strategy & Position Control: Define and perform statistical simulations of hedging strategies, including back-testing and sensitivity analysis between different scenarios. Generate mandates for Origination and short-term Trading, defining specific trade limits.
Risk Management: Calculate, monitor, and report portfolio risk measurements such as Value At Risk (VaR) and sensitivities. Perform stress tests on the portfolio against market movements and manage credit exposure by counterparties.
Modelling & Optimization: Create mathematical models to optimize the company's portfolio (expected growth, energy generation per period). Develop forecasts for mark-to-market and simulate various revenue scenarios.
Pricing: Analyze current and new price components and supervise offered/negotiated prices in PPAs and short-term hedges.
Tools & Digitalization: Develop internal tools (e.g., Excel macros, PowerBI dashboards, scripts) and supervise the parameterization of external tools (e.g., QBI or specific revenue software) to speed up analysis and forecast models.
Process Improvement: Identify and implement continuous improvements in Middle Office workflows to increase efficiency, reduce operational risk, and improve accuracy.
BESS coordination:
Strategy Supervision: Assess the strategy followed by Optimizers in BESS assets and detect potential actions for optimization.
Settlement Analysis: Analyze BESS settlements, including participation in day-ahead markets, intraday markets, ancillary services, and capacity markets, to ensure strategies are performing as expected.
Coordination: Act as the central coordinator for BESS activities within the Revenue department across all geographies.
REQUIREMENTS
Experience: Minimum 4 years of relevant working experience, preferably in the energy sector, having gained experience in a similar role (Middle Office/Risk) or in energy management.
Work Context: Ability to understand key business and strategic objectives and integrate business, legal, and regulatory concepts to develop effective internal controls and risk management strategies.
Languages: Fluent English and Spanish required. Italian and/or Portuguese languages are a plus.
Education: University Degree in Engineering (Industrial, Chemical, Electrical, Mines, or Energy), Physics, Mathematics, Economics, or Business Administration. A strong academic background is required.
Key Competencies: Strong analytical capability , proactivity and agility in decision-making , strategic approach with sound business judgment , and ease of interaction with other people.
🎯 You will join as a key pillar of the Revenue Department, with the autonomy to design and establish the function's processes. This opportunity, backed by a large investment fund, is designed for rapid growth: you will scale your responsibilities in line with our ambitious targets, with a clear path to lead and manage your own team in the mid-term. This is not just a role; it's the chance to build the Middle Office area from scratch.
Contract: Indefinite – Full-time.
Total flexibility: Hybrid work model (office in Madrid) with 100% work-from-home availability.
Salary: Highly competitive compensation package, commensurate with experience and expertise.
Bonus: Annual variable bonus.
Benefits: Private health insurance and life insurance.