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Head of Power & Natural Gas Market Risk Management

Chicago, IL 60654 | Work from home flexibility

Posted: 11/01/2023 Industry: Energy-Middle Office Job Number: 1756

Job Description

A global energy trading firm in Chicago is searching for an experienced Head of Risk Management to lead a team that monitors and reports the market risk and margins of its renewable power generation and wholesale power and natural gas trading desks. This team supports the asset optimization function and manages exposure in the power and natural gas markets by offering risk assessment of hedging and optimization strategies.

Portfolio risk management responsibilities include:
  • Overseeing and mentoring a risk team of 7 professionals, 
  • SME for conventional power, renewable power, renewable energy certificates, and natural gas markets, its issues, and associated risks. Designing risk mitigation strategies for the energy, capacity, and ancillary power markets,
  • Managing market risk activities including positions and limits for US and Canadian power and natural gas markets,
  • Modeling liquidity risks in ISO markets,
  • Managing position and PnL reporting,
  • Preparing forecasts and reporting of generation margin and performance,
  • Collaborating with key stakeholders, including the front-office trading teams, 
  • Participating in risk committees, and
  • Facilitating process improvements to streamline and enhance control functions.
Educational and professional requirements include a bachelor’s degree in finance or a related field (master’s degree preferred); 10+ years of experience in the US energy (power or natural gas) industry with at least 5 years of experience in market risk management; in-depth knowledge of wholesale power and natural gas markets; ability to manage a team of analysts; and strong communication skills.
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