Manager Market Risk & Analytics

About the role

The Enterprise Risk Management team is seeking a Manager Market Risk & Analytics to work closely with Energy Supply Trading and Acquisition teams to measure and mitigate risks associated with energy supply procurement and optimization.

Responsibilities

• Identify and assess risks, develop metrics to monitor them, and maintain positions and risk models that support PSE's energy traders
• Report daily risk exposure and market analytics
• Collaborate with teams responsible for new asset acquisitions
• Ensure completeness and accuracy of risks captured in positions
• Develop valuation models for optimization of PSE's assets
• Track energy procurement and hedging activities to ensure performance is consistent with approved energy procurement plans and risk management mandates
• Ensure approved hedging activities for the natural gas and power portfolios are properly recorded, valued, and reported
• Provide employees with coaching, feedback, and developmental opportunities to build effective teams
• Set clear expectations and hold employees accountable for performance as well as safety goals/targets
• Oversee training and development of employees and make effective staffing decisions
• Conduct and ensure the completion of performance reviews and development plans
• Act as the second line of defense in identifying, managing, and mitigating commercial risk to the organization
• Drive process excellence, identifying bottlenecks in Risk processes and ensuring error-checking is a natural part of all processes
• Continually improve analytical capabilities via internal and external networking and staying current on innovations in financial metrics and techniques
• Anticipate and identify areas of opportunity or inherent business risks evident in the data and develop commensurate action plans
• Assist in the development and enforcement of the requirements of PSE's Risk Policy, Hedging Policy, and associated procedure manuals
• Drive a vision for the team with milestone achievement steps along the way
• Actively manage resources and processes to optimize the efficient analysis of risk across the portfolio
• Manage staff responsible for quantitative risk modeling and the model risk management program
• Oversee the development and maintenance of models and tools used for position and asset valuation, credit risk management, and risk exposure assessments
• Act as a subject matter expert on position valuation and risk management methodologies with the ability to synthesize complex market data into structured communication for leadership and cross-functional partners
• Manage the Company's model risk management program for critical models across ESM, Energy Risk Control (ERC), and Energy Derivative Accounting (EDA)
• Prepare annual reports for PSE's Board of Directors on energy portfolio risk and performance
• Escalate risk exceptions to appropriate levels of the organization and document remediation plans
• Provide consultation to internal stakeholders, including Front Office, regarding risks embedded in complex and structured agreements
• Support requests from other internal business functions and third-party auditors to fulfill data requests
• Oversee ad hoc requests for model development related to the risk management and marketing of natural gas, power, and generation fuel
• Serve as non-voting member of Energy Management Committee and update the Committee on significant energy risk management matters and events

Qualifications

• Bachelor's degree or equivalent combination of education and experience in relevant field (such as business, economics, finance, etc.)
• 4-5 years progressive risk control, risk analytics and/or credit experience
• Experience leading teams and managing projects
• Experience directing meetings, organizing work efforts, and communicating deliverables to senior management
• Ability to review company position reports and financial data to understand the various risk components and apply risk management techniques to manage financial and physical risks
• Self-starter that identifies and takes action on value added opportunities
• Familiarity with dynamic portfolio risk analysis, including scenario testing, earnings at risk and other portfolio risk testing methodologies
• Strong oral, written and presentation skills to explain risk reports to diverse groups including direct reports, peers, executives, officers, committees, and external parties
• Willingness and ability to independently make sound risk management decisions under intense time pressure
• Demonstrated experience with Microsoft Excel, Access and Word
• Solid working knowledge of the utility industry and energy risk control policies and procedures

Desired qualifications

• Master's degree preferred
• Previous supervisory or management experience
• Familiarity with operational controls related to energy trading
• Experience with the model development lifecycle
• Strong knowledge of complex and structured energy contracts and embedded risks
• Strong leadership skills to direct meetings, organize work efforts, and lead projects

Pay

$106,600.00 - $253,200.00, eligible for annual goals based incentive bonuses.

Benefits

• Medical, dental, vision, basic life, and short- and long-term disability insurance
• Voluntary options of supplemental life insurance, accidental death and dismemberment insurance, flexible spending accounts for health care and dependent daycare, and an Employee assistance program (EAP)
• 401(k) investment option and cash balance retirement plan
• Paid Time Off (PTO) and Paid Holidays throughout the calendar year