Market Risk Officer

The duties & responsibilities associated with this position includes but not limited to:

• Identification, assessment, monitoring and mitigation of market risk factors and, determine the potential financial business impact such as but not limited to:

Spot market price volatility and, AS market price under a co-optimized market operation

Volatility of commodities markets (global fuel prices), financial risks (FX), technological risks and, hydrological risks (weather and climate) as it impacts energy/AS market prices and company production

Changing industry landscape, including policies & regulatory risks, and catastrophic events as it impacts energy/AS market prices and company production.

System demand-supply status levels as it impacts energy/AS market prices.

• Assessment of market risks associated from corporate strategies, commercial strategies & marketing plans.
• Assist in providing a high-level strategic direction for the commercial strategy and to the Products and Service Offers with consideration of the overall optimal impact to the business accounting for its contribution or effect to the other revenue streams (energy and AS)
• Keep consistently abreast of potential changes to the market landscape, competitor landscape, and identify risks and opportunities which could lead to significant financial impact to the business for strategic management decision support.
• Research, planning, assessment and mitigation of strategic market risks, and facilitation of potential new revenue generating business ventures.
• Assist in developing criteria to select potential new market opportunities, support in identifying business opportunities & strategies, including assessment of potential partnerships or acquisitions.
• Provide the establishment and monitoring of adequate level of limits or controls and perform corresponding sensitivity analysis on risk metrics to recalibrate limits, develop mitigation plans and, setting of hedging expectations.
• Design, cascade, and monitoring of the market risk management policy, plans and procedures for each of the revenue generating operations of the company (Eg. Spot market, AS market, BCQ and other PSOs).
• Provision of level of financial predictability, determining a stable earning level and potential optimal earning opportunities
• Draft and review the risk/reward mandate for contracting activity.
• Monitor contract volume mandate with relevant risk indicators or parameters.
• Evaluate guidelines and controls on credit analysis for new and existing customers and the analysis on credit risk exposure of each counterparty in the contract portfolio.
• Report and monitor counterparty credit risk exposure for the entire portfolio.
• Provision of report status on financial exposure due to non-compliance in WESM market operations.
• Monitor contract-counterparty requirement compliance including security deposits.
• Contract Terms of Reference review and unconventional contract review.
• Coordinate, communicate to relevant teams and, eventually monitor the established risk management control frameworks to get it integrated within their operations.
• Independently assess the accuracy and completeness of market risk information.
• Provide support, education and training to staff to build market risk awareness within the company.

Requirements:

Skills:

• Ability to understand broad business issues in various industries particularly in the power industry
• Strong analytical and problem-solving skill set
• Ability to absorb new finance and mathematical concepts
• Market modeling and forecasting skills
• Programming/automation skills
• Capacity to do research work: power markets, technological advancements, policies, regulations, etc.
• Technical acumen on powerplant technology operations
• Numerical/Statistical and data analytics skills
• Financial analysis
• Entrepreneurial mindset
• Business Acumen
• Good communication and presentation skills
• Influencing and interpersonal skills
• Wholesale Electricity Spot Market and Ancillary Services Operations background

Experience:

• At least 4 years of relevant experience in any of the following areas:

Market risk management,

Financial services,

Engineering and/or Technical field,

Market analysis,

Commodities market,

Quality management systems,

Energy trading,

Research & Development

Business Development

• Substantial knowledge on operations of various power plant technologies especially on hydro, and other renewables, and relevant working experience in the power industry is preferred.

Education:

• Degree in Risk Management, Engineering, Finance, Economics, Mathematics, Statistics or Applied Sciences
• Post graduate/ MBA or equivalent is advantage