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Power Market Risk Specialist

Company: Enbridge
Location: Houston
Posted on: November 26, 2022

Job Description:

Posting End Date:November 29, 2022Employee Type:Regular-Full timeUnion/Non:This is a non-union positionAt Enbridge, our core values of safety, integrity, respect, and inclusion drive our mission to support and improve the communities in which we live and work. We put people first and strive to make our communities better places!Our Specialist Risk Control will lead daily reporting output producing timely and accurate daily risk reports, analyzing day over day change in Mark to Market (MTM), at-risk metrics (VaR), and open positions for North American power trading activities. In addition, our newest team member will perform monthly analysis and lead communication of Accrual to Actual power variances driving front to back operational improvements to minimize reported variances.Have you ensured risk policy and procedures (policy) principles were employed and within compliance? Or identified and addressed areas of non-compliance and performed non-compliance reporting. If so, then we encourage you to express interest in this outstanding opportunity!What you will do:Responsible for leading the risk management analysis, monitoring, and reporting for Tidal Energy's North American power trading activities including Value-At-Risk (VaR), open positions, valuation controls, MTM valuation, including daily management explanations on applicable metrics and limitsExpand risk team capabilities such as risk reporting development, stress testing and/or other complex scenario analysis (including VaR simulations) to support risk metrics and ad hoc requestsAnalyze greeks for effective PNL decomposition and related data to create meaningful daily market risk explanations applicable to a broad range of audiencesEnsure VaR model accuracy and adjust input variables as necessary to capture and quantify market riskPerform OpenLink superuser/SME role for Power including electricity module deal modelling for transaction types such as Power Options, Full Requirements, RECs, Capacity, and interjurisdictional transactionsImprove valuation controls and processes for price curve accuracy & validation, implementing standard methodology controls which source internal and external reporting results, including calculating illiquid node differentials, hourly shaping, and pricing scalars for non-standard power transactionsAccountable for troubleshooting a variety of power transactions in the ETRM. Identify system enhancement requirements, review valuation, improve and/or develop deal modelling processes and data flows from front to back to ensure accuracy and integrityEvaluate new business strategies and ensure all material market risk is identified, captured, and quantifiedMonitor and report Policy non-compliance events relative to applicable prescribed commercial Policy limitsDirect accountability for developing and leading the oversight of the Risk (economic) to accounting (results) monthly reconciliation process, identify operational improvements, and communicate material variancesAssist with annual Policy training with partners and provide ad-hoc assistance throughout each business year with front office and other support functions on various questions or topics when requiredEnsure the documentation and integrity of procedures for new or existing processes are maintained and generatedSupport and maintain SOX requirements and documentation, and keep up to date on industry and training requirements applicable to roleWho you are:You have:An Undergraduate degree in economics, finance, accounting, or applied sciences with 7+ years of power risk management experience, preferably some in leadership rolesA Quantitative background with a strong understanding of statistics and the ability to perform scenario stress testing, back testing of strategies and trading portfolio decomposition of riskStrong understanding of Power LMP pricing including experience in validating power prices with external sourcesYou can:Offer a solid understanding of VaR, MTM and quantifying position exposures and other Risk Metrics along with Power Risk Management experience particularly in North American power pools MISO, PJM, NYSIO, ISO-NE, ERCOT, SPP, ISEO and AESO; (CAISO, WECC experience preferred)Show Technical expertise in troubleshooting power deal topics in Openlink/Endur or similar energy trading and risk management systems (ETRM) across the transaction life cycleImplement standard methodology controls for the valuation of less liquid power markets or locations while also having experience with ETRM system enhancements or implementationsYou are:Well versed 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 RequirementsAn excellent written and verbal communicator with the ability to explain financial models in operational terms while also possessing strong interpersonal skills to work and coordinate effectively within a team environmentSkilled in providing cultural leadership with consistent demonstration of team and cross functional collaboration and accountability, providing daily support, training and mentoringThe following are considered assets:Power BI, Python, or other data management software along with Open Link experienceCFA, MBA, CA, or other related designation. Risk Management designations in ERP or FRM are also an assetWorking Conditions:Work performed in typical office environment with an open trading floor concept set upEnbridge provides competitive workplace programs that differentiate us and offer flexibility to our team members. Enbridge's FlexWork (Hybrid Work Model) offers eligible employees the opportunity to work variable daily schedules with a flexible start and end time, to opt for a compressed workweek schedule, and the option to work from home on Wednesdays and Fridays. Role requirements determine your eligibility for each option or combination of options. #LI-Hybrid #topemployerPhysical Requirements include but are not limited to:Grasping, kneeling, light - moderate lifting (objects up to 20 pounds), reaching above shoulder, repetitive motion, typing, sitting, standing, visual requirement (able to see screens, detect color coding, read fine print), hearing requirement and the ability to sit at a computer for long periods of time.Mental Requirements (Both Field & Office) include but are not limited to:Ability to: understand, remember and apply oral and/or written instructions or other information, understand complex problems and collaborate/explore alternative solutions, organize thoughts and ideas into understandable terminology, organize and prioritize work schedule on a short-term basis, make decisions which have moderate impact on the immediate work unit and monitor impact outside this area, understand and follow basic instructions and guidelines, complete routine forms, compose letters, outlines, memoranda and basic reports and communicate with individuals via telephone.Diversity and inclusion are important to us. Enbridge is an Equal Opportunity and Affirmative Action Employer. We are committed to providing employment opportunities to all qualified individuals, without regard to age, race, color, national or ethnic origin, religion, sex, sexual orientation, gender identity or expression, marital status, family status, veteran status, Indigenous/Native American status, or disability. Applicants with disabilities can request accessible formats, communication supports, or other accessibility assistance by contacting careers@enbridge.com.Information For Applicants:Applications can be submitted via our online recruiting system only.We appreciate your interest in working with us; however, only those applicants selected for interviews will be contacted.Final candidates for this position may be required to undergo a security screening, including a criminal records check.

Keywords: Enbridge, Houston , Power Market Risk Specialist, Other , Houston, Texas

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