What’s the role?
In this position, you will have several key responsibilities which will include:
Develop a close relationship with the European power trading business to support new deals and appraise trading activities to ensure mandated exposure and risk limits are adhered to.
Use knowledge of European power markets to manage risk identification of model/portfolio assumptions and market inputs.
Collaborate with commercial quantitative teams to progress future pricing, valuation, and risk models.
Play a key role in developing the risk frameworks for illiquid, structured, and complex products and liaise with the wider Market Risk function and commercial stakeholders to enact.
Provide Market Risk input on new and group business proposals as they relate to the business. Assess the risks associated with complex structured deals and the valuation/payoff models used for physical/financial trading and hedging, working to calibrate performance parameters of such deals (e.g. batteries, dispatch assets, toll structures, optionality).
Lead the execution of key controls for the business area and collaborate with other functions to ensure continuous improvement of controls/processes.
Ensure Risk leadership is kept abreast of notable position and market movements.
Provide independent advice and guidance on the level of risk/return in the business and whether this is congruent with the agreed level of risk appetite.
Performance reporting for management; including but not limited to:
Trading strategy P&L performance. Net Imbalance Volume analysis (e.g. DA/outturns/imbalance). Forecast accuracy: generation and demand side. Limit monitoring. Fundamental analysis (e.g. weather impacts, concentration/covariance risk).
Act as a representative for Market Risk on a number of strategic power projects. Develop tools for ongoing portfolio reviews and produce “deep dive” analysis for senior management. Drive understanding of the design and utilization of methodologies to assess risk/reward of the portfolio, including: VaR back-testing, stress testing, scenario analysis. Develop and refine the fair economic valuation approach for power deals, factoring in imbalance, shape, and liquidity risks. Provide steer on usage of market risk reserves. Collaborate with other support functions (e.g. Finance, Technical Accounting) for deal support and general portfolio queries. Support internal/external audit requirements. Provide mentoring to junior team members. What we need from you We’re keen to see as many of the following attributes on your CV: Degree in mathematics, economics, engineering, science, or a related field. Significant Power market risk experience with an excellent understanding of market risk fundamentals (P&L, exposure, VaR, stress testing) and modelling concepts. Knowledge of non-linear products (e.g. options), tolling agreements, renewable power, and certificates (GoOs, REGOs). Cross commodity market fundamentals knowledge. Competent in assessing trading valuations, including critiquing model calibration and parameters. Ability to multi-task with a high level of attention to detail and accuracy. Understanding of Fair Value and derivative recognition concepts. Endur ETRM knowledge preferred, but not essential; experience of ETRM migrations appreciated. Strong business analysis, modelling, problem-solving skills. Ability to carry out multi-stakeholder projects to fruition while ensuring adequate risk controls are enforced. Technologically oriented / coding knowledge (Python, SQL). Ability to perform under rigid deadlines and time pressured environments. A self-motivated team player, who can work remotely as part of a wider global team. Capable of applied creativity and problem-solving. A strong communicator and team player. A broad and agile thinker, with outstanding interpersonal skills that builds trust and credibility. If you don't see yourself fully reflected in every job requirement listed on the posting above, we still encourage you to reach out and apply. Research has shown that not everyone often applies when they do not feel 100% qualified. We are committed to creating a more equitable, inclusive, and diverse company and we strongly encourage applicants of all genders, ages, ethnicities, cultures, abilities, sexual orientation, and life experiences to apply. We look forward to receiving your application.
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Trading strategy P&L performance. Net Imbalance Volume analysis (e.g. DA/outturns/imbalance). Forecast accuracy: generation and demand side. Limit monitoring. Fundamental analysis (e.g. weather impacts, concentration/covariance risk).
Act as a representative for Market Risk on a number of strategic power projects. Develop tools for ongoing portfolio reviews and produce “deep dive” analysis for senior management. Drive understanding of the design and utilization of methodologies to assess risk/reward of the portfolio, including: VaR back-testing, stress testing, scenario analysis. Develop and refine the fair economic valuation approach for power deals, factoring in imbalance, shape, and liquidity risks. Provide steer on usage of market risk reserves. Collaborate with other support functions (e.g. Finance, Technical Accounting) for deal support and general portfolio queries. Support internal/external audit requirements. Provide mentoring to junior team members. What we need from you We’re keen to see as many of the following attributes on your CV: Degree in mathematics, economics, engineering, science, or a related field. Significant Power market risk experience with an excellent understanding of market risk fundamentals (P&L, exposure, VaR, stress testing) and modelling concepts. Knowledge of non-linear products (e.g. options), tolling agreements, renewable power, and certificates (GoOs, REGOs). Cross commodity market fundamentals knowledge. Competent in assessing trading valuations, including critiquing model calibration and parameters. Ability to multi-task with a high level of attention to detail and accuracy. Understanding of Fair Value and derivative recognition concepts. Endur ETRM knowledge preferred, but not essential; experience of ETRM migrations appreciated. Strong business analysis, modelling, problem-solving skills. Ability to carry out multi-stakeholder projects to fruition while ensuring adequate risk controls are enforced. Technologically oriented / coding knowledge (Python, SQL). Ability to perform under rigid deadlines and time pressured environments. A self-motivated team player, who can work remotely as part of a wider global team. Capable of applied creativity and problem-solving. A strong communicator and team player. A broad and agile thinker, with outstanding interpersonal skills that builds trust and credibility. If you don't see yourself fully reflected in every job requirement listed on the posting above, we still encourage you to reach out and apply. Research has shown that not everyone often applies when they do not feel 100% qualified. We are committed to creating a more equitable, inclusive, and diverse company and we strongly encourage applicants of all genders, ages, ethnicities, cultures, abilities, sexual orientation, and life experiences to apply. We look forward to receiving your application.
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