Energy Markets Risk Manager

We are delighted to be partnered with a California based CCA that is looking for an Energy Markets Risk Manager to join its team.

Reporting directly to the CFO, the Energy Risk Manager is responsible for the day-to-day management of Middle Office risk management function.

The CCA supplies approximately $450 MM/year in energy through a mix of hedges, power purchase agreements, and spot market (ISO) transactions.

This role is responsible for measuring and monitoring key risks associated with the portfolio, such as energy market risk, counterparty credit risk, liquidity risk, and volumetric risk. It is responsible for managing and enhancing the analytics necessary to support effective risk management.

Duties include

Manage the tools and develop analytics necessary to measure, monitor, and forecast key portfolio risks, including but not limited to market risk, liquidity risk, volumetric risk, counterparty risk, and model risk, consistent with organizations Energy Risk Management Policies.

Lead monthly energy risk management committee meetings.

Act as primary author of Board-adopted Energy Risk Management Policy.

Maintain and enhance load forecasting model to support forecasting of energy revenues and cost of energy, along with managing energy product positions.

Manage the monthly collateral requirements associated with counterparty risk.

Develop natural gas and power market analytics to support risk management.

Develop, manage, and enhance recurring and ad hoc risk reports.

Support portfolio and transaction valuation from a risk perspective.

Support financial forecasting and budgeting with risk assessments on cost of energy.

Support quantitative modeling across the Finance, Power Supply and Data & Analytics teams.

Manage relationships with internal and external clients along with consultants.

Perform related duties as assigned.

Knowledge of:

Working knowledge of energy market risk and modeling metrics and techniques, such as VaR, CFaR, and stress testing. Understanding of option greeks is highly desirable.

Working knowledge of power & gas markets. Knowledge of CAISO markets is highly desirable.

Working knowledge of power industry structures such as Power Purchase Agreements (PPAs).

Experience with structured transactions, such as tolls, and with options is highly desirable.

Understanding of probability, machine learning, stochastic techniques, and ability to apply them to the energy industry.

Ability to develop scenario stress testing to measure portfolio risk and exposure.

Ability to:

Communicate effectively with various levels of staff, Board members and external vendors.

Deliver results and influence decision-making when collaborating with colleagues and counterparties.

Research, analyze and interpret complex data; reach conclusions and make recommendations.

Define problem areas and evaluate, recommend, and implement alternative solutions to complex issues and problems.

Be detail oriented and manage multiple projects in a fast-paced environment.

Work independently

Promote teamwork, a positive work environment, and collaborative problem solving.

Work effectively in a fast-paced environment, including willingness to occasionally work outside normal business hours to meet deadlines.

Use tact, initiative, prudence, and independent judgment within general policy, procedural, and legal guidelines.