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20 days ago
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Energy Risk Manager


Ovo Energy
Location: Bristol
Job type: Permanent
Sector: Power & Energy
Category: Management Jobs
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Energy Risk Manager

Location: Bristol / remote working

The OVO Group’s purpose is to drive progress towards net zero carbon living. To reach Plan Zero, we need everyone to come together - not just as customers buying energy, but as members with a common goal. As part of this ambitious plan, our goal is to become the ‘Leading Employer in the UK’ by 2030. If you think you could be the talent we’re looking for, then come and join the adventure!

We launched in 2009 with a mission to change energy for the better. Since then, we’ve welcomed over a million members, planted a million trees, and set our sights on helping save the planet.

As a Group, we’re working to become a net zero carbon business by 2030, while helping our OVO Energy members halve their carbon footprints at the same time.

Green energy and technology are great tools to fight the climate crisis with. But it’s people power that will rewrite history.

So we’re building a zero carbon team inside and out. Of people who share our values, feel inspired by our mission, and want to make change happen. When you work for OVO, it’s not just a job. It’s the work of a lifetime. And we want the sharpest minds to help.

Up for the challenge?

Where in the world of OVO will I be working?

Working within OVO’s Trading function, this role reports to the Head of Trading Operations and Analysis and has responsibility for the core systems, processes and reporting associated with the wholesale energy requirements of OVO’s UK domestic retail activities. With annual wholesale costs in excess of £1.5bn per annum, it is critical that our Trading decisions are supported by robust systems and processes to ensure our Trading activities are effectively handled, monitored and controlled.

OVO’s Trading function is a dynamic and fast paced environment. Within the role you will be required to build strong relationships across many areas of the business, in order to ensure that key internal partners have a clear understanding of OVO’s Wholesale Energy positions and exposures and how key data and assumptions feed into and impact core Trading Operational Processes. You will need to be confident being an Industry Expert within the business in this area and be a strong communicator with the ability to share this knowledge with others.

What will I be doing?

The role will have line management responsibility for the Energy Risk team that is made up of 5 Energy Risk Analysts. The team is responsible for owning and developing all business systems and processes associated with monitoring and reporting of our wholesale energy positions and exposures. This includes our third party provided ETRM (Energy Trading and Risk Management) software and internal Trading P&L reporting. The Energy Risk team is responsible for the key interfaces with Commercial - ensuring that hedge strategies and positions align with our Pricing and Propositions - and Finance - ensuring that wholesale costs reporting and forecasting is accurate.

Key responsibilities will include but are not limited to:-

* Line management of five Energy Risk Analysts and prioritising workload for the team to facilitate development in a fast-paced environment.
* Owning and developing all business systems and processes associated with monitoring and reporting of our wholesale energy positions and exposures, including our third party provided ETRM (Energy Trading and Risk Management) software
* Key contributor to the development, assessment and sign off of hedging strategies that manage wholesale market risk in the business
* Owner of all position reporting to ensure that our activities remain fully compliant with the agreed Trading Risk Policy
* Key interface between the Commercial and Trading, ensuring that hedging strategies are agreed and understood and developing appropriate transfer pricing mechanisms for both costs and risks
* Use of analytical and statistical methods to develop and own models to assess and report on wholesale risks and opportunities
* Automation and improvement of existing processes and tools.
* Own and develop reporting on wholesale energy trading activities including the measurement and reporting of Trading profit or loss and the allocation and reconciliation of wholesale costs in business wide financial reporting and forecasting.
* Design, implement and maintain monitoring and process controls for Trading activities to mitigate the risk of financial loss.
* Identifying and reporting all process failures or near misses and ensuring that actions are taken to minimise the risk of recurrence
* Attend and present details of Trading activities and positions to the Monthly Trading Risk Steering Committee
* You will develop strong relationships with internal stakeholders across all levels to consolidate information and highlight risks and opportunities in your area.
* Ad hoc projects as required

Is this the job for me?

We are seeking someone with industry experience relating to wholesale energy trading and risk management within the UK domestic supply sector, coupled with the management capabilities required to lead the Energy Risk team.

Ideally you will have…

* First hand experience in Wholesale Trading and Risk Management in the UK Domestic Supply Sector
* Experience in developing and operating critical processes with appropriate process controls
* The knowledge to be recognised as an Energy Industry expert with understanding of how the industry functions and the drivers of wholesale energy costs and risks for suppliers
* Understanding of UK Power and Gas Markets and associated Trading products and hedging strategies applicable to a UK Domestic Portfolio
* Experience of Trading risk reports and metrics to enable the effective management and reporting of wholesale positions
* Experience of leading analytical teams
* Experience with data analysis in a programming language (eg. Python or R), writing SQL queries and data visualisation tools (e.g. Tableau)
* The ability to take the initiative in addressing complex challenges.
* An analytical approach with experience in data manipulation
* Demonstrable high attention to detail with the ability to break down complex problems, often involving large amounts of data.
* Strong communication and stakeholder management skills with an ability to create clear recommendations, respond quickly and act decisively.
* Flexibility; willing to contribute across a range of projects.
* Commercial awareness to support prioritisation and communication at a senior level.
* Degree (or equivalent) in analytical, numerical or science based subject or a wealth of experience in a relevant role

From us you’ll get* * An annual discretionary bonus
* 4% of your salary to spend on flexible lifestyle benefits
* 5% matched employer contribution to your pension
* 25 days holiday + 1 for your birthday
* And many more...

(*) Please note that certain benefits kick-in once you have passed probation which can be up to 6 months after your start date.

We want the best people

At OVO, we empower our people to have choice around where and when they work - flexible working arrangements can be discussed for all of our roles. Please speak to the Talent Acquisition team for more info.

We’re keen to meet people with varied backgrounds - our view is the more inclusive we are, the better our work will be. We want to build teams which represent a variety of experiences, perspectives and skills, and we recognise talent on the basis of merit and potential.

We understand some people may not apply for jobs unless they tick every box. If you're excited about joining us and think you have much of what we're looking for, even if you're not 100% sure… we'd love to hear from you.

Learn more about working in the OVO family of companies on our careers page and Glassdoor. We’re also delighted to have received a Top Employers certificate in 2018, 2019 and 2020!
Energy Risk Manager

Location: Bristol / remote working

The OVO Group’s purpose is to drive progress towards net zero carbon living. To reach Plan Zero, we need everyone to come together - not just as customers buying energy, but as members with a common goal. As part of this ambitious plan, our goal is to become the ‘Leading Employer in the UK’ by 2030. If you think you could be the talent we’re looking for, then come and join the adventure!

We launched in 2009 with a mission to change energy for the better. Since then, we’ve welcomed over a million members, planted a million trees, and set our sights on helping save the planet.

As a Group, we’re working to become a net zero carbon business by 2030, while helping our OVO Energy members halve their carbon footprints at the same time.

Green energy and technology are great tools to fight the climate crisis with. But it’s people power that will rewrite history.

So we’re building a zero carbon team inside and out. Of people who share our values, feel inspired by our mission, and want to make change happen. When you work for OVO, it’s not just a job. It’s the work of a lifetime. And we want the sharpest minds to help.

Up for the challenge?

Where in the world of OVO will I be working?

Working within OVO’s Trading function, this role reports to the Head of Trading Operations and Analysis and has responsibility for the core systems, processes and reporting associated with the wholesale energy requirements of OVO’s UK domestic retail activities. With annual wholesale costs in excess of £1.5bn per annum, it is critical that our Trading decisions are supported by robust systems and processes to ensure our Trading activities are effectively handled, monitored and controlled.

OVO’s Trading function is a dynamic and fast paced environment. Within the role you will be required to build strong relationships across many areas of the business, in order to ensure that key internal partners have a clear understanding of OVO’s Wholesale Energy positions and exposures and how key data and assumptions feed into and impact core Trading Operational Processes. You will need to be confident being an Industry Expert within the business in this area and be a strong communicator with the ability to share this knowledge with others.

What will I be doing?

The role will have line management responsibility for the Energy Risk team that is made up of 5 Energy Risk Analysts. The team is responsible for owning and developing all business systems and processes associated with monitoring and reporting of our wholesale energy positions and exposures. This includes our third party provided ETRM (Energy Trading and Risk Management) software and internal Trading P&L reporting. The Energy Risk team is responsible for the key interfaces with Commercial - ensuring that hedge strategies and positions align with our Pricing and Propositions - and Finance - ensuring that wholesale costs reporting and forecasting is accurate.

Key responsibilities will include but are not limited to:-

* Line management of five Energy Risk Analysts and prioritising workload for the team to facilitate development in a fast-paced environment.
* Owning and developing all business systems and processes associated with monitoring and reporting of our wholesale energy positions and exposures, including our third party provided ETRM (Energy Trading and Risk Management) software
* Key contributor to the development, assessment and sign off of hedging strategies that manage wholesale market risk in the business
* Owner of all position reporting to ensure that our activities remain fully compliant with the agreed Trading Risk Policy
* Key interface between the Commercial and Trading, ensuring that hedging strategies are agreed and understood and developing appropriate transfer pricing mechanisms for both costs and risks
* Use of analytical and statistical methods to develop and own models to assess and report on wholesale risks and opportunities
* Automation and improvement of existing processes and tools.
* Own and develop reporting on wholesale energy trading activities including the measurement and reporting of Trading profit or loss and the allocation and reconciliation of wholesale costs in business wide financial reporting and forecasting.
* Design, implement and maintain monitoring and process controls for Trading activities to mitigate the risk of financial loss.
* Identifying and reporting all process failures or near misses and ensuring that actions are taken to minimise the risk of recurrence
* Attend and present details of Trading activities and positions to the Monthly Trading Risk Steering Committee
* You will develop strong relationships with internal stakeholders across all levels to consolidate information and highlight risks and opportunities in your area.
* Ad hoc projects as required

Is this the job for me?

We are seeking someone with industry experience relating to wholesale energy trading and risk management within the UK domestic supply sector, coupled with the management capabilities required to lead the Energy Risk team.

Ideally you will have…

* First hand experience in Wholesale Trading and Risk Management in the UK Domestic Supply Sector
* Experience in developing and operating critical processes with appropriate process controls
* The knowledge to be recognised as an Energy Industry expert with understanding of how the industry functions and the drivers of wholesale energy costs and risks for suppliers
* Understanding of UK Power and Gas Markets and associated Trading products and hedging strategies applicable to a UK Domestic Portfolio
* Experience of Trading risk reports and metrics to enable the effective management and reporting of wholesale positions
* Experience of leading analytical teams
* Experience with data analysis in a programming language (eg. Python or R), writing SQL queries and data visualisation tools (e.g. Tableau)
* The ability to take the initiative in addressing complex challenges.
* An analytical approach with experience in data manipulation
* Demonstrable high attention to detail with the ability to break down complex problems, often involving large amounts of data.
* Strong communication and stakeholder management skills with an ability to create clear recommendations, respond quickly and act decisively.
* Flexibility; willing to contribute across a range of projects.
* Commercial awareness to support prioritisation and communication at a senior level.
* Degree (or equivalent) in analytical, numerical or science based subject or a wealth of experience in a relevant role

From us you’ll get* * An annual discretionary bonus
* 4% of your salary to spend on flexible lifestyle benefits
* 5% matched employer contribution to your pension
* 25 days holiday + 1 for your birthday
* And many more...

(*) Please note that certain benefits kick-in once you have passed probation which can be up to 6 months after your start date.

We want the best people

At OVO, we empower our people to have choice around where and when they work - flexible working arrangements can be discussed for all of our roles. Please speak to the Talent Acquisition team for more info.

We’re keen to meet people with varied backgrounds - our view is the more inclusive we are, the better our work will be. We want to build teams which represent a variety of experiences, perspectives and skills, and we recognise talent on the basis of merit and potential.

We understand some people may not apply for jobs unless they tick every box. If you're excited about joining us and think you have much of what we're looking for, even if you're not 100% sure… we'd love to hear from you.

Learn more about working in the OVO family of companies on our careers page and Glassdoor. We’re also delighted to have received a Top Employers certificate in 2018, 2019 and 2020!
Apply on company site

Email me jobs relevant to my job search

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