# Senior PJM FTR Trader

> Active Power Investments · Houston, United States (Remote) · Full-time · Posted 2026-09-10

**Workplace:** remote

## Description

### About Active Power Investments

Active Power Investments LLC is a market participant in the North American wholesale power markets. We engage in virtual transactions (VTs), participate in Financial Transmission Rights (FTRs) / Congestion Revenue Rights (CRRs) auctions, and engage in related energy trading in electric power and natural gas futures and exchange-traded derivatives. We offer exposure to these unique investment opportunities, which provide an exceptional combination of returns and portfolio diversification.

Our team develops and executes strategies across:

-   Independent System Operator (ISO) markets, such as CAISO, ERCOT, MISO, NYISO, PJM, and SPP.
-   Exchanges, such as ICE and CME, which offer related energy and commodities products.

### Role Summary

We operate in markets where disciplined analysis, strong judgment, and rigorous risk management matter. We're adding a senior trader who can translate market insight into durable, risk-adjusted trading performance — with real ownership of a proprietary, PJM-focused FTR book and the latitude to define strategy, drive position sizing, and manage risk with a high degree of autonomy.

This seat suits someone who combines commercial instinct with quantitative rigour, and who wants to shape both the trading approach and the analytical toolkit behind it — we're flexible on the specific tools and platforms you use. We're hiring for a proven ability to generate risk-adjusted PnL in PJM's FTR/CRR markets, not for years of tenure alone.

_**This role is 100% remote, giving you the flexibility to run the book from wherever you work best.**_

### Key Responsibilities

-   Develop, execute, and manage a PJM FTR/CRR portfolio across long-term, annual, and monthly auctions, including position sizing, hedging, and rebalancing.
-   Model transmission congestion, outage schedules, and grid topology to identify and price trading opportunities across the network.
-   Own risk management for the book: position limits, scenario/stress testing, mark-to-model vs. realized PnL reconciliation, and detailed PnL attribution.
-   Select and maintain the analytical stack (data, modelling, and execution tools) needed to run the book effectively — firm is flexible on toolset.
-   Where relevant, extend the strategy into adjacent PJM products (virtuals, up-to-congestion, day-ahead/real-time spread trades) opportunistically.
-   Report position, risk, and performance to firm leadership on a regular cadence.

## Requirements

-   Senior-level experience operating autonomously with full ownership of risk.

-   Proven experience owning a PJM FTR/CRR book across long-term, annual, and monthly auction cycles, with a demonstrated strong PnL track record and verifiable results.
-   Deep working knowledge of PJM market rules, auction mechanics, and transmission and congestion dynamics.
-   Strong quantitative and analytical skills, including the ability to build and validate models.
-   Experience reporting positions, risk, and performance to firm leadership.

### Preferred Qualifications

-   Bachelor's degree in a quantitative field (finance, economics, engineering, math, or physics) — valued, but not required; a strong, verifiable trading track record is of greatest importance
-   Experience trading FTRs/CRRs or congestion products in other ISOs (MISO, ERCOT, SPP, NYISO).
-   Track record in adjacent PJM products — virtuals, up-to-congestion, or spread trading.
-   Programming/data skills (Python, R, SQL) for independent research and backtesting.
-   Prior experience mentoring junior traders or analysts.

## Benefits

-   Total compensation for this seat combines a base salary with a profit-sharing component tied to book performance and is structured to scale with experience and track record.

## Apply

[Apply at Active Power Investments](https://apply.workable.com/active-power-investments/j/F0D2D5FC04/apply)

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