Market Risk Manager, US

About the Role

This role is part of JERA's growing North American Gas Trading business, expected to transition onto JERAGM's trading platform. The business, wholly owned by JERA Co., Inc., focuses on US natural gas trading, optimization, and market development across North America. The successful candidate will join during the build-out phase ahead of the business's planned operational launch.

The Manager, Market Risk, reporting to the Head of Risk in Houston, will lead the Market Risk team, supporting the business in all key market risk management matters. The team is responsible for designing and implementing suitable market risk control frameworks and providing both quantitative and qualitative market risk analysis and risk control solutions to support effective risk management and business decision-making.

This is a key leadership role within JERAGM, contributing to broader risk management initiatives across the organization. The role involves close collaboration with the Middle Office Function, Credit Risk, Internal Audit, Product Control teams, and global Market Risk teams in London and Singapore to ensure consistency in risk governance and reporting.

Responsibilities

• Oversee all market risk activities, including preparation of daily, weekly, and monthly market risk reports (e.g., Value at Risk (VaR), sensitivities (the Greeks), stress testing, risk capital calculations).
• Support and contribute to the identification of new risks within the portfolio and any new business activities.
• Analyze and quantify the market risk of the portfolio in Houston across US business units, trading books, and products/instruments.
• Prepare analysis for consideration by the Market Risk Committee and/or New Business Committee (NBC).
• Lead, manage, train, develop, coach, and mentor junior members of the Market Risk Team in Houston.
• Drive and facilitate the setup of new business activities, including overseeing the Market Risk Team's contribution to NBC preparation.
• Contribute to the design and implementation of a holistic risk control framework, with a focus on market risk.
• Promote a risk-conscious culture and better-practice controls through engagement with commercial and control teams globally.
• Work closely with the Quant/Model & Valuations Team to validate and develop risk and valuation models, including system testing and optimization.
• Support digitalization and transformation initiatives, focusing on risk technology, data flows, automation, and digitalization opportunities.
• Lead continuous improvement efforts, including constructive challenge of existing processes within the Market Risk Team and shared processes.
• Liaise with Commercial/Front Office, Middle Office Functions (Product Control, Credit Risk, Internal Control, Legal, Compliance & Contracts, Treasury), and shareholder departments.

Requirements

• A minimum of 15 years of relevant market risk experience.
• Background in risk management within an energy or commodity trading company or Tier-1 investment bank.
• Graduate qualification in Mathematics, Statistics, Econometrics, Physics, Chemistry, Engineering, Finance, Computing, Business, or equivalent. Post-graduate qualification in these fields is ideal.
• Detailed knowledge of Value-at-Risk, scenario analysis, back testing, stress testing, expected shortfall, and other market risk techniques.
• Knowledge of market risk associated with physical commodities, traded and real option portfolios, and exposure to both physical and financial energy markets.
• Proficiency in Microsoft Office products (Excel, VBA, Python) and familiarity with tools like EKA, Allegro, FEA, Topaz, Endur, Power BI, Matlab, or SQL.
• Experience in derivatives valuation, pricing, and quantitative risk modeling, including gas storage and swing models.

Skills

• Excellent analytical skills with a focus on accuracy and precision.
• Strong written and verbal communication, with the ability to present quantitative analysis to all audiences.
• Ability to leverage relationships to influence without authority and add value to risk information.
• Collaborative, respectful, and dependable with a proactive approach.
• Able to work independently with limited direction as well as within and across teams.
• Ability to thrive in a team environment under often disparate and conflicting pressures.

Role Opportunity

This is a high-impact role within a globally distributed Market Risk team, offering significant exposure to senior stakeholders and complex, cross-commodity risk issues. The successful candidate will play a key role in driving analytical depth, supporting risk model development, and improving risk reporting processes.