Downstream Risk Manager
The client is an integrated energy business whose portfolio consists of upstream gas and oil producing assets, gas-fired and nuclear power plants as well as downstream power/gas retail/B2B businesses in both Europe and the US.
In order to independently monitor and manage market risk associated with the client’s global downstream business, a position of Downstream Risk Manager is being created within the Group Financial Risk team, a part of the wider Risk Department. The successful candidate will report directly to the Head of Group Financial Risk.
Accountabilities and Responsibilities
The Risk Manager will be responsible for:
- Establishing and managing a global downstream risk framework including risk metrics, models, and limit structure;
- Ensuring proper representation of downstream risk and its priorities during risk system implementation and reporting project work;
- Contributing to strategic paper and new business proposal reviews and providing analytical advice/support/view on market risks, competitive and regulatory risk at appropriate platforms;
- Preparing regular downstream risk analysis and reviews at the Group level to critically challenge and back test existing risk management strategies;
- Providing clarity on the financial implications of the inherent market risks (both BU and Group level) embedded in Centrica’s existing global downstream operations and expansion strategies;
- Engaging in analytical review of changes (from downstream point of view) in market risk applications, models and methodologies for quantifying market risks across the Group;
- Working with relevant business unit teams to formulate new frameworks, structures, and integrate changes into the current policies, processes and systems;
- Developing and supporting a strong working relationship with the business unit risk and finance teams throughout the implementation of Group minimum standards, risk policies, and best practice;
Required skills and competencies
The successful candidate will have:
- Demonstrable market risk experience ideally gained within a utility or an energy company;
- Insight into commodity risk management issues, requiring risk diagnostics and sophisticated analytical techniques;
- Strong understanding of risk management of complex downstream business including competitor pricing , commodity procurement/hedging, regulatory climate and fundamental risk methodologies such as VaR, PaR, and Option valuation theory.
- Well-developed numerical and analytical skills including advanced Excel (VBA) or one of the programming languages (i.e Python). Previous ETRM systems experience would be an advantage;
- Maintaining simultaneously (i) a strong independent mind in executing responsibilities and (ii) effective working relationships with rest of the organisation.
- Confidence, presence, resilience and determination to succeed in a dynamic and demanding business environment;
- Problem solving and root cause identification skills;
- Excellent attention to detail;
- Strong interpersonal skills and ability to interact and communicate at all levels;
- Self motivated, ability to prioritise work with minimal direction;
- Positive “can do” attitude;
- Well-rounded business skills, with an understanding of the energy value chain
This is an exciting opportunity for an ambitious and bright individual to join an established business that can offer attractive working conditions and excellent career development opportunities. The successful candidate will be challenged and will be encouraged to act autonomously.
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