Senior Market Risk Analyst - Power

United Kingdom

Job Family Group: Finance

Worker Type: Regular

Posting Start Date: December 10, 2024

Business unit: Finance

Experience Level: Experienced Professionals

Job Description:

What's the role?

In this position, you will have several key responsibilities which will include:

• Develop a close relationship with the European power trading business to support new deals and appraise trading activities to ensure mandated exposure and risk limits are adhered to.
• Use knowledge of European power markets to manage risk identification of model/portfolio assumptions and market inputs.
• Collaborate with commercial quantitative teams to progress future pricing, valuation and risk models.
• Play a key role in developing the risk frameworks for illiquid, structured and complex products and liaise with the wider Market Risk function and commercial stakeholders to enact.
• Provide Market Risk input on new and group business proposals as they relate to the business. Assess the risks associated with complex structured deals and the valuation/payoff models used for physical/financial trading and hedging, working to calibrate performance parameters of such deals (e.g. batteries, dispatch assets, toll structures, optionality).
• Lead the execution of key controls for the business area and collaborate with other functions to ensure continuous improvement of controls/processes.
• Ensure Risk leadership is kept abreast of notable position and market movements.
• Provide independent advice and guidance on the level of risk/return in the business and whether this is congruent with the agreed level of risk appetite.
• Performance reporting for management; including but not limited to:
  • Trading strategy P&L performance.
  • Net Imbalance Volume analysis (e.g. DA/outturns/imbalance).
  • Forecast accuracy: generation and demand side.
  • Limit monitoring.
  • Fundamental analysis (e.g. weather impacts, concentration/covariance risk).
• Act as a representative for Market Risk on a number of strategic power projects.
• Develop tools for ongoing portfolio reviews and produce "deep dive" analysis for senior management.
• Drive understanding of the design and utilization of methodologies to assess risk/reward of the portfolio, including: VaR back-testing, stress testing, scenario analysis.
• Develop and refine the fair economic valuation approach for power deals, factoring in imbalance, shape, and liquidity risks. Provide steer on usage of market risk reserves.
• Collaborate with other support functions (e.g. Finance, Technical Accounting) for deal support and general portfolio queries.
• Support internal/external audit requirements.
• Provide mentoring to junior team members.

What we need from you

We're keen to see as many of the following attributes on your CV:

• Degree in mathematics, economics, engineering, science or a related field.
• Significant Power market risk experience with an excellent understanding of market risk fundamentals (P&L, exposure, VaR, stress testing) and modelling concepts.
• Knowledge of non-linear products (e.g. options), tolling agreements, renewable power, and certificates (GoOs, REGOs).
• Cross commodity market fundamentals knowledge.
• Competent in assessing trading valuations, including critiquing model calibration and parameters.
• Ability to multi-task with a high level of attention to detail and accuracy.
• Understanding of Fair Value and derivative recognition concepts.
• Endur ETRM knowledge preferred, but not essential; experience of ETRM migrations appreciated.
• Strong business analysis, modelling, problem-solving skills.
• Ability to carry out multi-stakeholder projects to fruition while ensuring adequate risk controls are enforced.
• Technologically oriented / coding knowledge (Python, SQL).
• Ability to perform under rigid deadlines and time pressured environments.
• A self-motivated team player, who can work remotely as part of a wider global team.
• Capable of applied creativity and problem-solving.
• A strong communicator and team player.
• A broad and agile thinker, with outstanding interpersonal skills that build trust and credibility.

If you don't see yourself fully reflected in every job requirement listed on the posting above, we still encourage you to reach out and apply. Research has shown that not everyone often applies when they do not feel 100% qualified. We are committed to creating a more equitable, inclusive, and diverse company and we strongly encourage applicants of all genders, ages, ethnicities, cultures, abilities, sexual orientation, and life experiences to apply. We look forward to receiving your application.

About Shell UK

Shell is an international energy company that aims to meet the world's growing need for more and cleaner energy solutions in ways that are economically, environmentally, and socially responsible. It is one of the world's largest independent energy companies, operating in more than 70 countries.

Shell has a global target to become a net zero emissions energy business by 2050. This means that Shell aims to be net zero on all emissions generated by its operations and the energy needed to power them. The company is working with customers, businesses, and governments to address emissions across different sectors.

In March 2022, Shell UK announced an ambition to invest between £20 to £25 billion in the UK energy system over the next decade, more than 75% of which is intended for low and zero-carbon products and services including offshore wind, hydrogen, and electric mobility. These investments, which are subject to board approval, aim to propel the UK closer to net zero whilst intending to stimulate economic growth and jobs.

Our people are our greatest asset, and our commitment to your career will see you thrive in a work environment that offers an industry-leading development programme. When your ideas travel, Shell will benefit, and innovation will thrive. Shell has a key role to play in helping meet the UK's growing energy demand, whilst using innovative technologies to develop cleaner energy. We are one of the largest FTSE 100 companies in the UK by market capitalisation and make a significant contribution to the UK economy.

An innovative place to work

There's never been a more exciting time to work at Shell. Everyone here is helping solve one of the biggest challenges facing the world today: bringing the benefits of energy to everyone on the planet, whilst managing the risks of climate change.

Join us and you'll add your talent and imagination to a business with the power to shape the future - whether by investing in renewables, exploring new ways to store energy or developing technology that helps the world to use energy more efficiently.

An inclusive place to work

To power progress together, we need to attract and develop the brightest minds and make sure every voice is heard. Here are just some of the ways we're nurturing an inclusive environment - one where you can express your ideas, extend your skills and reach your potential:

• We're creating a space where people with disabilities can excel through a transparent recruitment process, workplace adjustments, and ongoing support in their roles. Feel free to let us know about your circumstances when you apply and we'll take it from there.
• We're closing the gender gap - whether that's through action on equal pay or by enabling more women to reach senior roles in engineering and technology.
• We're striving to be a pioneer of an inclusive and diverse workplace, promoting equality for employees regardless of sexual orientation or gender identity.
• We consider ourselves a flexible employer and want to support you in finding the right balance. We encourage you to discuss this with us in your application.

A rewarding place to work

Combine our creative, collaborative environment and global operations with an impressive range of benefits and joining Shell becomes an inspired career choice.

We're huge advocates for career development. We'll encourage you to try new roles and experience new settings. By pushing people to reach their potential, we frequently help them find skills they never knew they had, or make career moves they never thought possible.

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