Senior Manager, Market Risk Management (Renewable Power and Low Carbon)

Houston, TX 77002 | Work from home flexibility

Posted: 01/09/2024 Industry: Energy-Front Office Job Number: 1765

Job Description

An international power & gas company seeks a qualified professional to be a Senior Manager, Market Risk for its Renewable Power and Low Carbon portfolios. The Senior Manager is responsible for all market risk systems, analytics, metrics, and reporting capabilities, and it is responsible for modeling and understanding renewables generation (utility-scale wind, solar, and battery storage), hydrogen, and ammonia. It also works with the Development and Finance teams to value potential acquisitions in a high-volume deal environment. The position reports directly to the Head of Market Risk and can be located in Houston or San Francisco.

Renewable deal activity includes:
  • Support the renewable energy business development and finance teams in the risk assessment of new acquisitions including:
    • Working with the Development and Finance teams to model and value potential acquisitions and related valuations.
    • Review prospective acquisitions and impact to the overall portfolio of generation assets.
    • Valuing and pricing Renewable and Low Carbon transactions.

Renewable Power and Low Carbon Market Risk responsibilities include:
  • Monitoring and controlling market risk around renewable energy power plants and related assets. Developing and maintaining best practices in reporting and analytics for the business unit.
  • Mentor and manage a small team of market risk Senior Analysts and Analysts.
  • Owning the ETRM system, Curve Management Tools, and BI Reporting tools.
  • Providing standardized Position, P&L, and Risk Metric reporting.
  • Analyzing results to provide detailed P&L explanations regarding portfolio changes.
  • Working directly with the Quantitative and Fundamental Analytics Heads (also in the CRO group) to build “enhanced” analytics and sensitivities.
    • Understand battery storage dispatch modeling.
    • Understanding stochastic generation/asset modeling for position and margin management.
    • Proposing valuable improvements to existing models or methodologies for evaluating portfolio risks.
    • Assisting in modeling of capacity and congestion with the Fundamental Analysis team.
  • Performing analysis and monitoring, including GMaR, VaR, Gen Delta, PFE, and portfolio stress testing.
  • Assisting Market Risk Head and CRO with KPIs and board reporting.

Requirements:
  • A bachelor's degree in a business discipline with an advanced degree preferred.
  • Minimum of 7+ years’ experience with risk analysis and valuation of wholesale power generation and renewable power. A background in structured finance is a plus.
  • Experience with managing a team and employee productivity.
  • Desire to be a part of a high-performing and analytical team.
  • ETRM & systems implementation experience.
  • Designing efficient and reliable market risk processes.
  • Experience with modeling power and renewable power markets.
  • Knowledge of “single source of truth” reporting concepts.
  • Knowledge of power dispatch and shadow settlements.
  • Fundamental and operational knowledge of U.S. power, U.S. renewable power (including wind, solar, battery storage), and low carbon markets.
  • Understanding of financial derivatives and pricing.
  • Understanding of hedging power generation.
  • Model-building skills; experienced with analytical and data manipulation applications.
  • Experience with programming with at least one software language generally used in financial models like VBA, MatLab, Python, R, SAS, etc. is a plus. 
Employees work 3 days in the office and 2 days remotely.

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