Head of Risk, US

About the role

This role forms part of JERA's growing North American Gas Trading business, which is expected to transition onto JERAGM's trading platform. This business is wholly owned by JERA Co., Inc. and will focus on US natural gas trading, optimisation and market development across North America. Successful candidates will join during the build-out phase ahead of the business's planned operational launch. The Head of Risk will lead the Risk functions in Houston office across the full range of commercial activities, including physical and financial trading, with an emphasis on risk management functions strategy development and implementation. He/she will provide oversight, management and reporting of strategic, market, counterparty and operational risks related to the Houston office commercial activities and will act as the eyes and ears of the VP, Risk and CFRO within the organisation of Houston office. The role will act as the key point of accountability for credit, market and operational risk matters, and may be held in conjunction with another senior risk role within the Houston office.

Responsibilities

• Team and Organizational Leadership
  • providing leadership by example to the GMA risk teams, in alignment to the JERAGM global standard.
  • Deliver a strong working culture within the GMA organization and develop the risk functions into a highly capable, agile and collaborative team that adds value to the organization.
  • Build and maintain the respect of senior internal stakeholders, commercial and support functions.
  • Develop influence throughout the organization and provide insight in support of commercial and executive decision making.
• Functional Leadership
  • Partner with and support the JERAGM CFRO and VP, Risk in defining and developing controls and risk management practices.
  • Aligning the design of risk identification, measurement and reporting methodologies, and co-development of the associated governing policies, and set the tone for controls management protocols within GMA.
  • Ensure transparency with shareholders and other leaders within the JERAGM Group and maintain strong operational relationships with relevant external stakeholders.
  • Ensure alignment with JERAGM Group policies and the operating model, and promote best practices throughout the business.
  • Maintain independent insight and control from commercial functions.
• Business Engagement
  • Act as a trusted business partner to commercial teams at all levels.
  • Provide constructive challenge, value added insight and support decision making whilst maintaining object control oversight.
• Market Risk
  • Oversee the implementation and running of a robust and fit for purpose risk control framework that is aligned with JERAGM Group's and the risk appetite of GMA.
• Credit Risk
  • Oversee the implementation and running of the counterparty credit risk framework, including the evaluation, measure and management of counterparty credit risks.
• Operational Risk
  • Work with the heads of all GMA functions to promote risk awareness, counteract the root causes of fraud, identify and improve process flaws and support systems development for effectiveness and control.
• Reporting
  • oversee the suite of control reporting and management information, aligned to the JERAGM Group standard, seeking to inform the business in the form and function that suits the consumer of that information.
  • Seek to provide information, analysis and insight to support decision making and ensure good governance.
  • Be able to articulate risk matters to all audiences with clarity, accuracy and credibility.
• Risk Governance process
  • Work collaboratively with the JERAGM Group, to ensure that GMA matters are efficiently and effectively raised to the Market Risk Committee, Credit Committee and New Business Committees, ensuring adherence to the governance processes, and the full and accurate representation of risks.
  • Ensure that all GMA new business proposals are subject to comprehensive due diligence by all GMA (and JERAGM, as appropriate) functions and that assumptions are challenged to allow for informed decision making by Committee members.
  • In partnership with JERAGM's CFRO, VP, Risk and other Risk leaders, make recommendations on changes to the risk control framework and processes.

Qualifications

• Experience
  • Around 20 years or more of experience in energy risk management, as applied to an energy trading environment;
  • Specific knowledge of energy commodities including physical and financial instruments and global energy trading;
  • Knowledge of commodity ETRM systems, ability to challenge and adapt systems for productivity;
  • Recognition of industry best practices in risk management insight and oversight.