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Senior Manager, Middle Office Energy Services

Our purpose is sustaining energy and water for life, and it is demonstrated in everything we do as a business, and as an employee team.

Purpose

 

The primary task of the Senior Manager, Middle Office (“SMMO”) is to ensure that the trading desks stays under their Market risk tolerance limits as prescribed by the Commodity Risk Management policy. The successful candidate is a technical authority not only in the area of risk measurement and control but also has strong knowledge of the markets and hedge products. 
The SMMO is responsible for monitoring and analyzing the organization’s risk exposure by understanding the risks and rewards of Liberty products and positions to mitigate risks of those products and positions. The SMMO is expected to provide advice and counsel related to the technology or operations of the business. The SMMO is responsible for measuring, monitoring and analyzing the organization’s market risk exposure on a day-to-day and long-term basis for various products. The SMMO monitors trading limits and is responsible for approving (or recommending approval) of transactions over certain established limits. This SMMO works with traders and recommends actions to mitigate risk.
Liberty relies on a third-party service provider for deal/transaction capture in ETRM and credit exposure reporting. The SMMO is responsible for enhancing reporting to capture all product types and underlying generation data in ETRM.

Accountabilities

 

  • Working with trading desk to ensure that all relevant market risk factors are properly identified and formally captured in official risk systems
  • Supporting regulatory compliance programs (CFTC, Dodd-Frank, FERC, RTO/ISO)
  • Developing and maintaining an appropriate autonomous market risk limits framework with applicable limits and triggers
  • Autonomously monitor business compliance with the firm’s commodity market risk policies
  • Oversee risk exposure measurement and limit monitoring processes to ensure integrity and appropriate independence of reporting
  • Participate in the development of business-level stress testing that properly considers risk concentrations; review results and assess appropriate follow-up actions
  • Participate in the ongoing development, implementation and upgrade of risk systems including VaR, Limit monitoring systems, Stress systems etc.
  • Appropriately characterizing risks and approaches to mitigation to senior management
  • Appropriately assessing risk when business decisions are made, demonstrating particular consideration for the firm's reputation and safeguarding Liberty, its clients and assets, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues with transparency
  • Ensure data integrity and timely trade deal confirmation 
  • The SMMO also supports credit risk management activities as required:
    • Delivers robust fundamental credit risk analysis assessments of counterparts in a range of industry verticals including generating shadow ratings using best-in-class credit rating models
    • Proposes sensible credit limits for transactions with counterparts
    • Partners with the commercial teams to negotiate transaction structures as well as master agreements

Education and Experience

 

  • 5-10 years relevant experience
  • Degree in a quantitative or financial discipline.
  • Knowledge and experience in Energy Commodities markets (specific focus on Power preferred)
  • Knowledge of financial instruments and risk metrics 
  • Quantitative skills including mathematics involved in risk estimation and modelling 
  • Must be a self-starter, flexible, innovative and adaptive 
  • Excellent written and verbal communication and interpersonal skills 
  • Ability to both work collaboratively and autonomously; ability to navigate a complex organization 
  • Excellent project management and organizational skills and capability to handle multiple projects at one time 

Algonquin Power & Utilities Corp. is a growing renewable energy and utility company with over $15 billion1 of assets across North America and internationally.

For more than 30 years, Algonquin has demonstrated an unwavering commitment to delivering clean energy and water solutions. Our rapid growth has led both our regulated utility services and renewable energy business groups into different geographies and commodities, but our purpose remains unchanged – Sustaining Energy and Water for Life.

Through our operating business (Liberty), we provide regulated electricity, water, and natural gas utility services to over 1 million customer connections, primarily in North America. And, our growing portfolio of clean, renewable wind, solar, hydro and thermal power generation facilities represent over 3 GW of renewable generation capacity in operation and under construction.1

With our robust, diversified, and growing presence in communities across North America and internationally, we are continually demonstrating our “Think Global, Act Local” business model.

What we offer

Collaborative environment with a genuine flexible working policy

Share purchase/match plan

Defined Contribution savings plan

Top Talent Program

Volunteer paid days off

Employee Assistance Program

Achievement fund

Free parking, including free electrical charging

 

We are focused on building a diverse and inclusive workforce.  If you are excited about this role and are not certain you meet the all the qualification requirements, we encourage you to apply to further investigate the opportunity.

We are an equal opportunity employer and value each person’s unique background, diversity, experiences, perspectives and talents. Full participation of all employees in a safe, healthy and respectful environment is key to individual and company success. We are committed to fully utilizing the abilities of all of our employees and expect each of our employees to honor this commitment in their daily responsibilities.

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