Are you a top tier Risk Control professional? We are looking for a Power Market Risk professional to join our team! In this position you will have the opportunity to showcase your Risk management technical expertise and support directly the Specialist Risk Control in power price curve validation, deal modelling, troubleshooting transactions, stress testing and sophisticated portfolio scenario analysis.
- Complete the daily trader transaction sign off process in a timely manner, including troubleshooting and making recommendations for trans-log improvements.
- Raise and communicate non-standard or troublesome non-compliance events to the Manager, Risk Control with recommended action plans for resolution.
- Review MTM derivative classifications for power transactions and make changes as required, including a month end review of all transactions to provide integrity and accuracy for external financial statements.
- Identify system improvement requirements, review valuation, improve and/or develop deal modelling processes and data flows from front to back to ensure accuracy and integrity.
- Support and maintain SOX requirements and documentation, and keep up to date on industry and training requirements applicable to role.
- Responsible for performing the daily risk management analysis, monitoring, and reporting for Tidal Energy’s trading activities. Risk metrics include at-risk (CFaR/VaR), open positions, valuation controls, MTM valuation, including daily management explanations on applicable metrics and limits.
- Expand and develop Tidal’s Power Trading businesses which requires enhanced risk reporting development, perform stress testing and/or other complex scenario analysis (including VaR simulations) to support risk metrics and requests from Front Office and other groups.
- Analyze risk system outputs for effective PNL decomposition in conjunction with other risk metric movements, creating meaningful daily market risk explanations applicable to a broad range of audiences.
- Perform OpenLink superuser/SME role for Power for electricity module deal modelling including new transactions or modelling development such as Full Requirements, RECs, Capacity, 15 Minute Interval Transactions and others.
- Ensure the detailed documentation and integrity of procedures for new or existing processes are generated and maintained.
- Monitor, report and thoroughly investigate Enbridge Risk Policy non-compliance events with the goal of eliminating root causes, ensuring the power portfolio position limits and delegated transaction authority limits are within policy compliance at all times.
- Perform the monthly process and tasks as part of the Risk (economic) to Accounting (results) monthly reconciliation for Power Trading to minimize the variance in Accounting accrual to accrual results, identify operational improvements for all business areas, effectively communicate material variances and create efficiencies.
- Provide the daily reconciliation and tie-out of all positions of new financial transactions generated on statements provided by the FCM and/or other exchanges to ensure the integrity of daily margin requirements and that external accountability position limits are meeting thresholds.
- Build and maintain relationships with partners across other groups, representing Risk Control on various projects, cross functional system integration and system implementation.
- Accountable for troubleshooting Tidal power and environmental/renewables (REC’s) related transactions in the OpenLink system.
- Continued development of power price curve setups and the price validation processes to ensure accurate valuation of illiquid power markets or locations, especially for reporting month end and quarter end MTM results.
- Undergraduate degree in Economics, Finance, Accounting, or Applied Sciences. CFA, MBA, CA, or other related designation preferred. Risk Management designations in ERP or FRM are considered as assets.
- Strong interpersonal skills and the ability to work and coordinate effectively within a team environment.
- Technical experience troubleshooting power deal topics in energy trading risk management system (ETRM) across the transaction life cycle.
- Experience in dealing with various power transaction types: Physical Energy, Capacity, Renewable Energy Credits (RECs), Financial swaps, Physical and Financial Options, Financial Transmission Rights (FTRs), Transmission Congestion Contracts (TCCs), Congestion Revenue Rights (CRRs), Transmission Rights (TRs), Virtuals, Fixed Block Utility Auctions, Full Requirements.
- Solid understanding of VaR, MTM, and quantifying position exposures and other Risk Metrics.
- Experience with the implementation or improvement of ETRM systems.
- Strong understanding of Power LMP pricing including past experience in validating power prices with external sources.
- Seven+ years of directly related experience.
- Power risk management experience particular in North American power pools MISO, PJM, NYSIO, ISO-NE, ISEO and AESO (ERCOT, SPP, CAISO, WECC experience are also preferred).
- Quantitative background with an understanding of statistics and ability to perform scenario stress testing and back testing of strategies and trading portfolio decomposition of risk.
Vacancy Type: Full Time
Job Location: Houston, TX, USA
Application Deadline: N/A