Skills: Risk Management
Experience: 7 + Years
Education: Bachelors/3-5 yr Degree
Employment Type: Full Time Salaried Employee
Location: Spokane, Washington, United States
No location/work authorization restrictions found.
The purpose of this role is to ensure Market Risk activities surrounding the relevant T&S business are executed in a controlled and professional manner including:
- Ensuring all trading activities remain within mandated exposure and risk limits
- Ensuring all exposures are properly recorded using established fair value methodologies.
- Ensuring a daily commentary is produced analyzing daily/monthly P&L performance
- Manage risk identification of model & portfolio assumptions and market inputs, pricing issues, and drive understanding of the design and utilization of VaR, stress testing, and scenario analysis.
- This role will also identify, develop, and implement systems efficiencies and reporting capabilities for the risk books, partnering with the other Market Risk team managers to align best practices across the Global business.
- This role is expected to manage the Senior Commercial stakeholders for the relevant business line, potentially in different time zones.
- This role must work closely with the Credit and Enterprise Risk teams to ensure trading risks and returns are fully understood, captured and challenged where necessary. This will also include longer term risks, inherent in contracts such as, but not limited to, storage, pipelines, tolling agreements and environmental products.
- The incumbent is tasked with ensuring that the relevant T&S business is widely understood and that any changes to it or the supporting risk management framework are communicated properly to all stakeholders.
- Execute local and enterprise risk management reporting for the relevant T&S organization. This will involve segregating P&L performance against particular risks and ensuring the drivers of high or low returns are fully understood.
- Understand and manage the local adoption of new policy and methodology for the evaluation of any new or adapted market risk exposures.
- Understand and manage the development of mechanisms to value risk inherent from optionality contained in the portfolio and how this can be created and managed within Trading.
- Understand and develop mechanisms to measure the utilization of cash/working capital in individual deals/strategies in order to fully understand returns.
- Understand all trading activity ensuring that the purpose of all trading strategies can be explained in a simple way both to internal decision makers and interested external parties such as regulators.
- Be a Level 1 deal team member.
- Ensure that trading activities are properly represented within the relevant quarterly Market Risk committees and provide input into STN Enterprise Risk Management committees as needed.
- This role reports to the Global Head of Market Risk in Houston, and as this role is located in Spokane, this role will serve as the Market Risk Manager focal for that office as well as the West Region for Gas, Power & Environmental Products, supporting other commodity activity outside the local office where applicable.
- This role will manage a team of five Market Risk Analysts.
- Coordinate across functions including, but not limited to, Accounting, Credit, Legal, Compliance, Tax
- Actively manage internal resources to optimize the efficient analysis of risk across the portfolio, manage change and prioritize accordingly. This will involve working with analysts covering different parts of the relevant T&S portfolio as well as the Market Risk FO team.
- Be an end to end deal expert for the relevant T&S business understanding risk at all parts during the life of a deal interacting with the functional experts to help identify and suggest remediation to those risks.
- Develop and apply fair economic value principles across the relevant T&S business, coordinating across the global risk managers to ensure consistent application. This includes providing modeling support and challenge with stakeholders on valuation inputs and parameters.
- Provide review and comments on new and group business proposals as they relate to the relevant T&S business. Assess the risks associated with structured deals and the valuation models used for physical/financial trading and hedging, at times building out models to calibrate performance of such deals. Where applicable, provide peer review and challenge to deal proposals for other T&S businesses.
- Assist in limit setting & monitoring of the relevant T&S business, but equally play a key role in limit setting across the Global business.
- Develop tools for on-going portfolio reviews and produce €?deep dive€ analysis for senior management
- Drive understanding of the design and utilization of methodologies to assess risk/reward of the portfolio, including VaR back-testing / Stress Testing / Scenario Analysis / pricing for liquidity
- Design and development of specific scenario and stress testing as it relates to discrete portfolios
- Collaborate with IT and other staff to identify, develop and implement systems efficiencies and reporting capabilities for risk books, and manage user testing of systems functionality and enhancements while providing feedback to key stakeholders
- This role will provide risk management expertise in complex areas and should be able to manage their own work with limited supervision
- Carry out the review and execution of SOX controls
- Focal for both internal and external auditors, managing and setting expectations with each
- Partner with and provide support to other relevant T&S Market Risk Teams
- Serve as a key Market Risk leader for their local office, coordinating and leading trainings, fostering communication and collaboration across the West region.
Shell is a global group of energy and petrochemicals companies with over 90,000 employees in more than 70 countries and territories. In the US, we have operated for over a century and are a major oil and gas producer onshore and in the Gulf of Mexico, a recognized innovator in exploration and production technology, and a leading manufacturer and marketer of fuels, natural gas and petrochemicals. We deliver energy responsibly; operate safely with respect to our neighbours and work to minimize our environmental impact. We are in search of remarkable people who will thrive in a diverse and inclusive work environment to deliver exciting projects locally and globally. People who are passionate about exploring new frontiers. Innovators and pioneers. People with the drive to help shape our future. Because remarkable people achieve remarkable things.
- Must have legal authorization to work in the US on a full-time basis for anyone other than current employer.
- Bachelor's degree; Business, Economics, Finance, Mathematics, Engineering or IT
- Minimum Seven (7) years in Gas & Power Market risk management experience
- Strong understanding of trading, operations, risk and mid/back office business processes, policies, procedures and controls
- Advanced grasp of trading influences, deal structures and types, interpreting positions, P&L, market to market, trading reporting regulations, financial and management reporting, position reporting, and financial analysis
- Strong business analysis skills, modeling capabilities, research and problem solving skills, technologically oriented, proficient in working with computers and software applications, including Microsoft Office, Excel & Spotfire, and must understand data warehousing fundamentals.
- Experience with Endur or comparable energy trading risk management system and ability to fully leverage its functionality.
- Capable of being independent from front office; able to objectively analyze and report risks and exposures
- Strong stakeholder engagement skills, having the self-confidence to challenge traders on deals, valuations, positions, limit mandates
- Team player, good interpersonal skills Flexible to work across numerous time zone with onshore Market Risk teams in various locations, and the FO center in Chennai
- Continuous improvement mindset, utilizing tools to streamline and automate desk
- Introduce & implement industry best practices in commodity trading risk management.
- Substantial experience within a trading and risk management organization, including an advanced understanding of the relevant T&S markets (physical & financial).
- Ensuring relevant T&S risk issues are properly understood and escalated accordingly.
- Have an understanding of external regulation, compliance and risk management best practice.
- Identify and deliver risk management advice and services as the business changes.
- Actively participate in developing a risk management skillset and culture within the relevant T&S risk management team.
- Share knowledge about the relevant T&S trading book across all risk analysts for cover and control sustainability.
- Strong ability to understand trading valuations, including building and validating new models as needed
- A track record of working with and influencing remote teams.
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