UNITED STATES • FIELD AREA (Corporate) • FULL-TIME
Position Summary
This position is responsible for all risk management processes, including analysis, measurement, monitoring and reporting of energy and commodity portfolio and associated enterprise risk management activities. In addition, this position is responsible for providing leadership for the Enterprise Risk Management function including assessments, monitoring, reporting and governance. Supervises the Senior Risk Analyst.
Major Duties & Responsibilities
- Design effective, multi-level risk reporting for all levels of commodity risk management for management, Risk Committee and the Board.
- Quantify, monitor, and report commodity and other risks associated with the portfolio.
- Calculate and report the value and risk of all physical and financial transactions and assets, ensuring consistency of source data, measures and methods.
- Monitor, understand and effectively communicate market and operational risks (including escalation as necessary and in accordance with the risk management policy).
- Lead the design, monitoring, and reporting on compliance with all applicable risk policies, limits and controls.
- Develop, implement, and report quantitative risk measures and appropriate limits (MtM, VaR, GMaR, volatilities, correlations).
- Lead efforts to review commercial strategies, objectives and performance for hedging risks associated with the physical energy portfolio.
- Create and execute stress testing, scenario testing and back testing and report results per risk management policy.
- Utilize the energy trading and risk management systems (ETRM) to support commodity risk management processes and identify enhancements as needed to adequately assess, monitor, report and manage risk positions and metrics.
- Provide sufficient breadth and depth in power and related markets and risk management and control methods to serve as a sounding board and critical reviewer of commercial management’s risk identification, measurement and control processes.
- Advise the Chief Financial Officer on matters relating to portfolio and enterprise risk.
- Lead the Enterprise Risk Management Committee to ensure all risks are identified, monitored, reviewed and reported on a regular basis (i.e., set a thematic annual calendar, establish regular ERMC meeting agendas, distribute materials for review in a timely manner, ensure follow up of open items, review minutes to ensure accurate representation of discussion and decisions).
Education/Experience Required
- Bachelor’s degree in finance, economics, accounting, engineering or a business-related field is required. An advanced degree in business administration, finance, or a quantitative field is strongly desired.
- 8 or more years of related experience in energy risk management and enterprise risk analysis, including experience in the merchant energy industry and in the power sector.
- Direct experience in designing and implementing middle office risk controls, risk reporting, trading risk management systems, and governance and controls processes.
- Experience in merchant IPP or electric utility sector including knowledge of commodity risk management and gas markets.
- Thorough knowledge of financial risk management methodologies for a commodity portfolio including evaluation of physical and financial options; derivative products such as forwards; and analysis of forward market prices.
- Must be able to build effective relationships, possess prudent decision-making capabilities, and have strong leadership and communication skills.
- Experience in translating risk assessments and financial analysis into recommendations and actions.
- Must have the ability to analyze complex technical and management problems and determine the most appropriate solutions.
- Excellent oral and written communication skills and active listening skills.
- Possess a high level of professional integrity, ethics, and confidentiality.
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