Manager Market Risk & Analytics

Job Description

PSE’s Market Risk and Analytics team work closely with Energy Supply Trading and Acquisition teams to measure and mitigate risks associated with energy supply procurement and optimization.  As the manager of this team, you are responsible for identifying and assessing risks, developing metrics to monitor them, and maintaining positions and risk models that support PSE’s energy traders.   

Responsibilities include reporting daily risk exposure and market analytics, collaborating with teams responsible for new asset acquisitions, ensuring completeness and accuracy of risks captured in positions, and developing valuation models for optimization of PSE’s assets. The market risk function has responsibility to track energy procurement and hedging activities to ensure performance is consistent with approved energy procurement plans and risk management mandates to ensure approved hedging activities for the natural gas and power portfolios are properly recorded, valued, and reported.

All PSE employees are expected to uphold the safety compliance standards inherent in PSE’s operating and/or field procedures related to work responsibilities and promote and support a culture of total safety. Additionally, employees need to demonstrate commitment to conduct business honestly, ethically and consistent with our core values and Code of Conduct. All duties are to be performed in accordance with all regulatory compliance obligations. 

Job Responsibilities

• Employee Safety, Development & Team Building - Provides employees with coaching, feedback, and developmental opportunities to build effective teams:
  • Demonstrates a passion for safety. Promotes and supports a culture of total safety including eliminating at-risk behaviors by conducting safety audits and inspections, eliminating hazards and near misses, and attending safety meetings.
  • Sets clear expectations and holds employees accountable for performance as well as safety goals/targets where applicable.
  • Oversees training and development of employees directly and indirectly managed and makes effective staffing decisions. Ensures required training is successfully completed.
  • Challenges and inspires employees to achieve business results.
  • Accountable to ensure employees adhere to legal and operational compliance requirements, as well as safety standards.
  • Conducts and ensures the completion of performance reviews and development plans.
  • Provides coaching, direction and leadership support to team members in order to achieve employee, business, customer and safety results.
• Acts as the second line of defense in identifying, managing, and mitigating commercial risk to the organization.
• Drives process excellence, identifying bottlenecks in Risk processes. Ensures that error-checking is a natural part of all processes, so output is ‘Right First Time’.
• Continually improves analytical capabilities via internal and external networking and staying current on innovations in financial metrics and techniques.
• Anticipates and identifies areas of opportunity or inherent business risks evident in the data and develops commensurate action plans. 
• Assists in the development and enforcement of the requirements of PSE’s Risk Policy, Hedging Policy, and associated procedure manuals.
• Drives a vision for the team to aspire to and define a clear path to get there, with milestone achievement steps along the way.
• Actively manages resources & processes to optimize the efficient analysis of risk across the portfolio, manage change and prioritize accordingly.
• Manages staff responsible for:
  
  • Quantitative risk modeling
  • Model risk management program
• Oversees the development and maintenance of models and tools used for position and asset valuation, credit risk management, and risk exposure assessments.
• Acts 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. 
• Manages the Company’s model risk management program for critical models across ESM, Energy Risk Control (ERC), and Energy Derivative Accounting (EDA).
• Prepares annual reports for PSE’s Board of Directors on energy portfolio risk and performance.
• Escalates risk exceptions to appropriate levels of the organization and sufficiently document remediation plans.
• Provides 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.
• Oversees ad hoc requests for model development related to the risk management and marketing of natural gas, power, and generation fuel.
• Serves as non-voting member of Energy Management Committee and update the Committee on significant energy risk management matters and events.

Minimum 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 are required to explain risk reports to a diverse group 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.

Additional Information