We currently have an exciting opportunity for a talented and experienced Market Risk professional within the Energy Marketing and Trading (EM&T) business which is both the trading arm of Centrica Plc – focused on maximising profit from trading gas, power and related commodities – and the intermediary delivering energy from our Upstream and Power Generation teams on one side and British Gas on the other.
The purpose of Centrica’s Risk Function is to help Centrica manage and control financial risk. As lead of the EM&T Market Risk Team you will help manage the risk of loss of earnings arising from changes in the value of the EM&T portfolio driven by commodity price changes. The Market Risk team has primary responsibility for the identification, measurement, control and reporting of commodity price risk.
You will play a key role in controlling and reporting risk and continuously developing the Market Risk function as EM&T continues its growth and transition to a multi-location trading model. You will continuously be challenged around risk measurement and methodology, processes and procedures whilst having close, daily interaction with the front office and business units across the division. Specifically, the Head of Market Risk will:
• Create a strong risk team presence and promote risk discussion on both trading floors (London and Aalborg), alongside building strong relationships across the EM&T business;
• Lead and drive the integration program for the Market Risk teams and processes across London and Aalborg;
• Maintain and share strong knowledge of trading portfolios and keep abreast of developments in the energy markets to provide timely risk insights into the trading portfolio to traders and senior management;
• Act as Secretary to Risk Committee including the arranging of meetings, agenda setting and minute taking, as well as presenting on Market Risk topics;
• Quantitatively analyse new deals and new businesses and identify embedded risks; and present this analysis in the New Commitments Committee forum;
• Work with relevant business teams to formulate new business and product risk frameworks and integrate changes into the current policies, processes and systems;
• Lead analytical reviews and deliver improvements to market risk processes, models and methodologies;
• Coach and oversee development and work of the Market Risk team.
• Experience of leading and developing market risk teams within an energy company or financial institution;
• Confidence, presence, resilience and determination to successfully lead in a dynamic and demanding business environment;
• Strong interpersonal skills and ability to interact and communicate at all levels.
• Demonstrable market risk experience gained within an energy/oil company, utility or trading house, with exposure to UK and EU Power and Gas (including LNG) markets;
• Strong understanding of risk management of complex energy assets and risk methodologies such as VaR, PaR, Stress Testing and Option valuation theory;
• Insight into commodity risk management issues, requiring risk diagnostics and sophisticated analysis;
• A strong independent mind in executing responsibilities alongside maintaining effective working relationships across the organisation;
• Excellent attention to detail, with good problem solving and root cause identification skills;