Product Control Manager

Calpine, a business unit of Constellation Energy Corporation (Nasdaq: CEG), is America's largest generator of electricity from natural gas and geothermal resources with operations in competitive power markets. With 79 energy facilities in operation, Calpine’s fleet has the capacity to generate approximately 27,000 MW of electricity – enough to power approximately 27 million homes. Through wholesale power operations and its retail businesses, Calpine serves customers in 22 states and Canada. Its clean, efficient, modern and flexible fleet uses advanced technologies to generate power in a low-carbon and environmentally responsible manner.

The company was established on the premise that a strong commitment to the environment is inextricably linked to excellence in power generation and corporate responsibility. Since its founding in 1984, Calpine has led the power industry in its unwavering commitment to environmental stewardship. In addition, its renewable geothermal plants use steam generated deep below the earth's surface to produce clean, renewable electricity.

Job Summary (includes but is not limited to the following, other duties may be assigned)

The Product Control Manager is an important, high-impact role within Calpine’s Retail organization, responsible for strengthening and evolving the financial control and risk management framework supporting the retail energy business. This role reports to the Vice President of Risk – Solutions and operates at the intersection of risk, commercial operations, and accounting, ensuring performance and exposures are accurately measured, understood, and communicated.

This role plays a critical part in enhancing the rigor, transparency, and auditability of existing processes and controls; while remaining practical, business-focused, and ensuring the retail business operates efficiently. The Product Control Manager works closely with Retail leadership, Risk, Front Office, Accounting, Settlements, and FP&A to deliver clear insight into energy margin and non-energy products tracking, forecasting and reconciliations. This is a hands-on leadership role with meaningful autonomy and the opportunity to shape processes that have organization-wide impact.

This role is central to scaling the Retail business in a public-company environment, driving confidence in reported results, improving transparency into operational performance, and ensuring risk is understood, controlled, and proactively managed. It offers significant visibility, influence, and the opportunity to shape how the business measures success.

Job Responsibilities

Product Control & Risk Oversight

- Own and oversee the product control framework for the Retail business, ensuring accurate measurement of margin, inventories and obligations.

- Manage the unrealized to realized margin reconciliation process for all commodity components.

- Monitor market trends, forward curves, and pricing inputs to support accurate valuation and timely recognition of portfolio performance.

- Serve as a key control point between Front Office activity and financial outcomes, providing challenge, insight, and independent validation where appropriate.

Cross-Functional Coordination

- Partner closely with Front, Middle, and Back Office teams to ensure a timely, transparent, and well-controlled margin close process.

- Coordinate and reconcile non-energy products (e.g., Renewable Energy Credits, Capacity, Resource Adequacy) across systems and teams to ensure consistent reporting and clear ownership.

Insight, Analysis & Leadership

- Prepare and present clear summaries of retail financial and operational results for senior Retail leadership, highlighting drivers, risks, and emerging trends.

- Provide analytical support to Risk, FP&A and accounting focused on energy margin performance, inventory positions, and obligations.

- Identify and lead initiatives that materially improve controls, data quality, system design, or management insight across multiple functions.

Process Improvement & Control Enhancement

- Design, document, and enhance control processes in support of public-company expectations, building on existing practices and strengthening consistency and audit readiness.

- Lead cross-functional projects (e.g., rebuilding REC tracking, allocation, and valuation processes) that impact systems, reporting, and decision-making.

- Operate with independence and sound judgment, making day-to-day control and process decisions within established governance frameworks.

- Coordinate non-energy reconciliation and management among front, middle and back office of non-energy products including but not limited to Renewable Energy Credits, Capacity and Resource Adequacy to ensure accurate financial and management reporting.

- Works within broad guidelines applies advanced technical knowledge of multiple functions to solve complex problems which may have long-term impact on the business.

Job Requirements:

- Bachelor’s degree in finance, business, economics, accounting, or another quantitative field required.

- Advanced degree or professional certification (CPA, MBA) preferred but not required.

- 10+ years of experience in product control, risk management, or finance within an energy trading, or retail energy business.

- Proven experience working closely with trading, risk, and commercial teams.

- Prior people leadership experience or demonstrated readiness to lead a team.

- Experience within a trading environment is strongly preferred.

- Deep understanding of commodity products, markets, and valuation concepts.

- Strong grasp of control frameworks and financial reporting (without being purely accounting-driven).

- Ability to interpret accounting guidance and convert it into practical, business processes.

- Excellent analytical, problem-solving, and communication skills.

- Comfortable operating in a fast-paced environment with competing priorities.

- Strong stakeholder management skills with the ability to challenge constructively.

- Advanced proficiency in ETRM systems, data analysis, and Excel.

Salary Information:

Salary Range - $118,360 - $174,581

Additional Calpine Information:

- Equal Opportunity Employer of Minorities, Females, Protected Veterans, and Individuals with Disabilities.

- Calpine is committed to Equal Employment Opportunity and providing reasonable accommodations to applicants with physical and/or mental disabilities. If you are interested in applying for employment and need special assistance or an accommodation to use our website or to apply for a position, please send an e-mail with your request to hrrecruitment@calpine.com. Determination on requests for reasonable accommodation are made on case-by-case basis.

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