Job Description:ISO Power Settlement Specialist Location: Houston, Texas or New York, New YorkWe are seeking an experienced Commodities Operations Associate with deep expertise in U.S. Power markets and Physical Natural Gas. This role will serve as the dedicated settlement owner, responsible for end-to-end validation, reconciliation, and analysis of complex commodity transactions across multiple ISOs and gas markets.
The position requires a high degree of ownership and subject-matter expertise. The successful candidate will develop and maintain the nuanced understanding necessary to interpret ISO invoices, validate charges, and reconcile positions across varied market structures. This individual will act as the central point of accountability for settlements, ensuring accuracy, timeliness, and integrity of downstream financial reporting.
Key Responsibilities- Settlement Ownership & Accountability
- Serve as the single point of ownership for settlements across U.S. Power (PJM, MISO, ERCOT, ISO-NE, NYISO, CAISO, SPP) and Physical Natural Gas.
- Establish and maintain a consistent, controlled settlement process across all products and markets.
- Act as the subject-matter expert for settlement-related inquiries and issues.
- Cross-Functional Coordination
- Partner closely with trading, risk, accounting, treasury, and credit teams to ensure alignment across the transaction lifecycle.
- Ensure settlement outputs accurately feed downstream P&L, accounting, and cash management processes.
- Invoice Review & Validation
- Interpret ISO/RTO and bilateral invoices, validating accuracy of charges and credits across:
- Day-Ahead and Real-Time markets
- Ancillary services
- Capacity payments
- Transmission and congestion-related charges
- Product Coverage
- Lead settlement and reconciliation for:
- FTRs (Financial Transmission Rights)
- CRRs (Congestion Revenue Rights)
- Virtual transactions
- Physical Natural Gas
- Reconciliation & Dispute Management
- Reconcile internal systems against ISO statements and counterparty invoices.
- Identify discrepancies quickly and submit disputes within ISO-mandated timelines.
- Track and resolve open items through to completion.
- Process & Control Enhancement
- Build and enhance scalable settlement processes, controls, and documentation.
- Improve transparency, auditability, and operational efficiency across settlement workflows.
- Reporting & Financial Integrity
- Ensure settlements are accurately reflected in financial reporting and P&L.
- Maintain clear audit trails and support internal/external audits.
Required Qualifications- 5-8 years of experience in commodities operations, settlements, or middle office.
- Strong experience with U.S. Power markets, including one or more of:
- PJM, MISO, ERCOT, ISO-NE, NYISO, CAISO, SPP
- Experience with Physical Natural Gas settlements.
- Hands-on experience with:
- FTRs / CRRs
- Virtual transactions
- Physical gas settlements
- Deep understanding of:
- Day-Ahead and Real-Time market structures
- ISO settlement statements, charge codes, and dispute processes
- Proven ability to manage end-to-end settlement ownership with minimal oversight.
Preferred Qualifications- Global commodities exposure (e.g., Oil, Renewables, Refined products).
- Familiarity with ETRM systems and data tools.
- Experience interfacing directly with ISOs/RTOs and navigating market documentation.
- Working knowledge of accounting principles related to commodity settlements.
Key Attributes- Strong ownership mentality with clear accountability for outcomes.
- Ability to operate as a centralized settlement expert across multiple products and markets.
- Highly detail-oriented with strong analytical and reconciliation skills.
- Proactive problem-solver with a sense of urgency around discrepancies and deadlines.
- Effective communicator, capable of coordinating across multiple internal stakeholders.
CompensationJain Global offers a total compensation package which includes a base salary, discretionary bonus, and comprehensive benefits. The estimated base salary range for this position is $120,000 to $150,000, which may change in the future. When finalizing an offer, we take into consideration an individual's experience level and the qualifications they bring to the role to formulate a competitive total compensation package.
