Technical Manager, Commodity Market Risk

Title: Technical Manager, Commodity Market Risk

Location: Houston, TX 77079 (Hybrid)

FTE Position

Description:

We are seeking a highly skilled Technical Manager, Commodity Market Risk to provide senior quantitative leadership and serve as a recognized subject matter expert across market risk disciplines. This role will drive advanced risk analytics, including Value at Risk (VaR), stress testing, and structuring analysis, while leading complex, cross functional initiatives that support informed decision-making in dynamic commodity markets.

What You Will Do:

• Lead VaR model integrity, P&L decomposition, and and end to end FEA VaR integrity risk to ensure accurate and scalable enterprise risk reporting.
• Conduct market risk assessments for new business initiatives, supporting senior management and CFRMC approval processes.
• Deliver end-to-end development of risk reporting tools and automation, leveraging Python and Power BI for advanced analytics.
• Expand team capabilities in risk reporting development, stress testing, back testing, and scenario analysis (including VaR simulations) to strengthen risk insights and reporting.
• Enhance valuation controls and price curve validation processes, ensuring robust and reliable enterprise reporting.
• Demonstrated expertise with Pricing Datawarehouse, ZEMA pricing connections, other APIs and related functionality.
• Collaborate cross-functionally with Trading, Business Development, Risk, IT, Accounting, Legal, and Compliance teams to support full transaction lifecycle success.
• Provide on-going Risk Policy approval recommendations based on technical analysis to support clear governance over commodity desk activities involving authorities, market risk limits, strategies, transaction types, and geographies.
• Support quarterly management meeting content for multiple business units relating to proposed Risk Policy approvals, ongoing market risk communication and risk metrics oversight.
• Monitor and report metric-related Risk Policy non-compliance events relative to applicable prescribed commercial limits .

Who You Are:

• Bachelors degree in economics, finance, or applied sciences with 8+ years of in-depth experience in power, natural gas, &/or crude oil markets in risk management
• Advanced coding experience in Python, SQL, & Business Intelligence apps (Power BI is preferred).
• Experienced in performing risk control processes, including the development, monitoring, & enforcing of market risk limits, daily risk reporting of commodity MTM, VaR and positions.
• Strong understanding of probabilities & statistics with the ability to perform scenario stress testing & analysis, back testing of strategies & trading portfolio decomposition of risk.
• In-depth knowledge of modern VaR & GMaR methodologies
• Excellent written & oral communication skills; ability to explain financial models in operational terms.
• Dynamic interpersonal skills & the ability to work effectively with others.
• Thrives in a dynamic, collaborative working team environment involving daily tasks, project work & new product development.
• Strong understanding of multiple option valuation methodologies & risk management approaches.
• Experience in the design of risk metrics & controls to manage cash month price risks.
• Experience reviewing large pricing data history, creating, & identifying value added visualizations/insights for decision makers.
• Ability to create new market risk tools & processes by defining a project’s vision & executing it from inception to completion.
• Technical experience risk managing, troubleshooting and modeling transactions in Openlink/Endur or similar energy trading & risk management systems (ETRM) across the transaction life cycle.

Preferred:

• Experience with OpenLink/Endur (or similar ETRM systems) is a strong asset.
• CFA, MBA, CA, or other related designation is an asset. Risk Management designations in ERP or FRM are also an asset.
• Concurrent cross commodity expertise across multiple geographies for liquid and illiquid products, exchange traded activities, including CSO’s.
• Power specific experience:
• Strong understanding of how to analyze power LMP/congestion settlement & external forward pricing sources, make price curve recommendations or valuation enhancements.
• Experienced in the following aspects of power markets: commonly used trading strategies, FTRs, hourly pricing scalars, capacity, RECs, fixed block utility auctions & full requirements transactions.
• Experience in PJM, MISO, NYISO, ISO-NE, ERCOT, SPP, IESO &/or AESO power markets; ISO specific market regulations & requirements for physical or financial transactions.
• Strong understanding of cash month wholesale power markets & associated financial products (ex., FTRs, Virtuals, increment / decrements), ancillary service products & physical power trading strategies.
• Experience in risk management of spark spread / heat rate products & trading strategies.

Working Conditions:

• Typical office environment, open trading floor concept setup

Benefits:

• A flexible benefits program that allows each employee to select the level of coverage needed for their family in the areas of health, dental, insurance and disability.
• A paid maternity and parental leave benefit that offers up to 20 weeks of paid leave for birth-giving parents and up to 12 weeks for other eligible parents, providing flexibility and support during this important life event.
• Valuable retirement savings plans, including a savings plan with company stock as an investment option.
• Paid time off/vacation/sick, plus paid personal days off (depending on location), and paid holidays.
• An Employee and Family Assistance Program.
• A Wellness Program, which focuses on supporting healthier employees by providing tools, resources, and opportunities to improve physical, mental, social, and financial well-being.
• Client's FlexWork (hybrid work model) offers eligible employees (Manager and below) the option to work from home on Wednesdays and Fridays, opt for a compressed work week schedule, or have flexible start and end times. Role requirements determine your eligibility for each option.