Head of Market Risk & Product Control

Title: Head of Market Risk & Product Control (Director/VP level)

Location: This position is hybrid and located in Houston, TX (Greater Houston Area) OR located in Mississauga, ON (GTA + Hamilton Area)

Who We Are

Just Energy is a consumer company focused on essential needs, including electricity and natural gas; health and well-being, such as water quality and filtration devices; and utility conservation, bringing energy efficient solutions and renewable energy options to consumers. Currently operating in the United States and Canada, Just Energy serves both residential and commercial customers. Just Energy is the parent company of Amigo Energy, Filter Group Inc., Hudson Energy, Interactive Energy Group, Tara Energy, and terrapass.

Job Summary:

Join a dynamic and robust Risk Management division overseeing market risks for a retail energy portfolio of over $4 billion in notional value. Support the natural gas, electricity, and renewable credits wholesale business lines in portfolio risk management and controls and be a subject matter expert bringing intellectual knowledge and hands on work experience. Manage a team of managers covering market risks and product control across US and Canada in natural gas, electricity and environmental products performing risk reporting and risk analytics. Facilitate development and understanding of liquidity risks associated in managing exposure in power and natural gas markets, hedging in ISO markets and risk assessment of hedging and optimization strategies.

Responsibilities:

• Lead an international team of risk managers with the goal of managing market risk of Just Energy’s retail energy portfolios in US and Canada,
• Develop the market risk talent into a well-respected, commercially savvy team helping mitigate risk, achieving sustainable growth and scale to new markets in line with external best practice knowledge, as well as effective problem solving.
• Working with Front Office to assist in execution of strategies to mitigate risk and portfolio management covering retail natural gas, electricity and environmental products.
• Manage all aspects of market risk limit violations, escalate risk limit violations to CRO and present the summary of violation at management risk committee and board risk committee meetings.
• Facilitate development and modelling of liquidity risks in ISO markets driven by weather risks, financial hedging strategies, load forecasting changes, daily and cash month position imbalances and communicate effective liquidity at risk from market risk management strategies.
• Establishing and maintaining effective relationships with Risk Back Office & Compliance team, Trading, Structuring, Load Forecasting, Finance, Legal, and Settlements.
• Communicate effectively across various committees and actively advise on relevant decision making within Management Risk Committee and Board Risk Committee and prepare market risk summary reports for regular board risk reporting.
• Facilitate the understanding and modelling of all material risks across the portfolio in order to gain an accurate representation of the energy and non-energy financial risks in retail energy products.
• Continuously drive forward strategic initiatives to enhance transparency around portfolio exposures.
• Keep abreast of market-related issues and their impact on the business.
• Recommend/ evaluate risks from non-standard and complex transactions, new products and markets and assist with setting up new limits, risk policy and procedure changes and establishing reporting processes.
• Communicate externally Just Energy’s risk management program, reports and compliance with lender and supplier covenants, facilitate preparation of monthly and quarterly reporting, assist in discussions with new suppliers and lenders on Just Energy’s risk mitigation plan
• Liaise with internal and external auditors for risk controls, trade floor process mapping, support audit efforts and lead environmental products independent portfolio balancing and retirement audit

Requirements:

• Minimum of 10 years of experience in energy industry with at least 5 years of risk management experience.
• Retail energy trading or risk management experience preferred.
• In depth knowledge of North American retail energy markets and familiarity with global markets.
• Well-developed relationship management and negotiation skills.
• Excellent written and verbal communication skills and organization skills across all levels such as Board of Directors, Senior Management and Executives.
• Ability to perform big picture analysis with strategic yet analytical orientation.
• Proven ability to manage high performance teams and cultivating a strong positive culture and developing talent.

Education: University degree in Business, Math, Engineering or similar. CFA or any other quantitative certification considered an asset.

Benefits:

Just Energy offers a robust benefits plan for staff members, as well as Employee Assistance Programs that offer a wealth of tools and resources to enrich the employee experience. The company also provides a number of cost-free, self-development courses for those that wish to build on their skills and competencies. In addition, a variety of awards offer another opportunity to recognize and reward employees.

We offer:

• Competitive compensation
• Performance based bonuses
• Comprehensive benefits package
• Hybrid Working Model
• Health and wellbeing tools and resources and more…

Just Energy and its subsidiaries are an equal opportunity employer. We are committed to building a workforce that reflects the communities we serve and to promote a diverse, anti-racist, inclusive, accessible, merit-based, respectful and equitable workplace. We invite all interested individuals to apply.

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