US Procurement Risk Manager

Octopus Energy

3800

London, UK, United Kingdom

Posted on: 2022-11-22

Category: energy

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Expired

Employment type:

Full time

Experience required:

Intermediate

Salary

Salary not provided

About the company:

We're on a mission to make a big green dent in the universe by building a truly sustainable energy system globally.

That means making power greener, smarter, and more affordable for everyone.

We put customers at the heart of everything we do: with always-fair prices, transparency and outrageous customer service.

We drive system change: with transformative tech to make renewable energy the norm and end global reliance on fossil fuels.

Octopus Energy Group is made up of 10 businesses spanning 6 countries across 3 continents, including: Octopus Energy Retail, Kraken Technologies, Octopus Energy Generation, Kraken Flex, Octopus Electric Vehicles, and the Octopus Centre for Net Zero. More on OEG @ octopusenergy.group

Help us make a big green dent in the universe. We're on a mission to drive the global renewable energy revolution, and we need loads more people to help us make our vision a reality.

We are not like a traditional Energy Procurement team. Instead of working in large siloed teams, our Trading, Risk, Forecasting and Data-science functions work closely together utilising the latest technologies to maintain a lean operation as the company grows. We are both an electricity retailer and a tech platform and we think there is no better way to address our greatest challenge, climate change, than with the combination of those two.

Wholesale electricity makes up both our largest cost but also our most volatile. At the same time, the growth of renewables and smart access to data provides a lot of opportunities. This is an exciting opportunity to build a key function, both to enable Octopus to rapidly grow its customer base but also to innovate and participate in the drive to net zero.

This role is based within our London office, working alongside the team managing and building our European Risk processes. However, there will also be close and frequent engagement with US teams (leadership, sales, finance, data etc). As such, the core hours for this role will be based on US central time and a degree of travel should be expected.

If this sounds like you then we'd love to hear from you.

Studies have shown that some groups of people, like women, are less likely to apply to a role unless they meet 100% of the job requirements. Whoever you are, if you like one of our jobs, we encourage you to apply as you might just be the candidate we hire. Across Octopus, we're looking for genuinely decent people who are honest and empathetic. Our people are our strongest asset and the unique skills and perspectives people bring to the team are the driving force of our success. As an equal opportunity employer, we do not discriminate on the basis of any protected attribute. Our commitment is to provide equal opportunities, an inclusive work environment, and fairness for everyone.

What you'll do

Accountable for accurate and complete management of all short and long-term wholesale risks.

Work with Group Risk team to spec and build our internal ETRM software for clear and accurate trade capture and position and risk reporting

Continually observe and make improvement recommendations on the appropriate risk approach as the business grows and the market evolves. Present clear recommendations to key stakeholders (both within Octopus Energy US and the wider Octopus Energy group) for approval.

Ensure that approved amendments are clearly captured in the risk policy.

Calculate and execute trades to ensure compliance with risk policy.

Continuously monitor short-term markets and trade execution to ensure that positions are sufficiently covered.

Report on VaR under a range of outlooks (winter storms/summer heatwaves / etc).

Work with Data Science team to develop demand forecasts and monitor accuracy.

Make proposals on generation, flexibility, or DSR initiatives that will support risk management and innovative ways to deliver genuine renewable supply.

Continuously challenge processes and deliver improvement/automation

Develop REC hedging strategy

What you'll need

Experience working in energy markets (particularly US markets) very advantageous

Very bright, highly numerate, ability to handle multidimensional concepts

Experience with Python and SQL

Experience managing and reporting on financial risk

Strong analytical skills coupled with an ability to think strategically

Excellent verbal and written communication skills

Flexibility to grow and adapt as the business grows

Able to challenge with empathy and support as required at times as we develop the business

Comfortable with some ambiguity (our world is changing fast)

Why else you'll love it here

Wondering what the salary for this role is? Just ask us! On a call with one of our recruiters it's something we always cover as we genuinely want to match your experience with the correct salary. The reason why we don't advertise is because we honestly have a degree of flexibility and would never want salary to be a reason why someone doesn't apply to Octopus - what's more important to us is finding the right octofit!

Octopus Energy is a unique culture. An organisation where people learn, decide, and build quicker. Where people work with autonomy, alongside a wide range of amazing co-owners, on projects that break new ground. We want your hard work to be rewarded with perks you actually care about! We won best company to work for in 2022, on Glassdoor we were voted 50 best places to work in 2022 and our Group CEO, Greg has recorded a podcast about our culture and how we empower our people. We’ve also been placed in the top 10 companies for senior leadership

Visit our UK perks hub - Octopus Employee Benefits

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