About the job

, United Kingdom

Job Family Group

Finance

Worker Type

Regular

Posting Start Date

January 3, 2022

Business Unit

Finance

Experience Level

Experienced Professionals

Job Description

Where you fit in

Shell’s Renewables & Energy Solutions (R&ES) is at the heart of delivering Shell’s ambition to become a world-class investment case that powers progress by providing a diverse array of cleaner energy solutions. R&ES is an exciting, fast-moving business – and a key driver in being able to fulfil that ambition.

What’s the role?

The R&ES Market Risk Manager will be based in London, leading a team of 4 market risk professionals, working across gas, power, and emissions asset classes. The R&ES Market Risk Team is responsible for coverage across the energy value chain – from long-term strategic PPA off-takes, through to B2B and B2C customer portfolios.

The R&ES Market Risk team will need to develop a strong understanding of UK and European Gas and Power markets – covering both wholesale and retail markets. The R&ES Market Risk team will be able to support and challenge strategies employed by the R&ES commercial teams, as well as be able to model the various complexities and optionality within the portfolio. The purpose of the role is to independently identify, measure, and report on the level of risk from new business proposals, material contracts, and trading market conditions in order to advise the commercial teams on mitigation strategies and risk appetite. The role will provide risk assessments and insights to senior management while collaborating with and providing market specific information and advice to others in the global Finance and Risk Management organization. This includes the Valuation, Quantitative Analytics, Risk Management Operations, and Technical Accounting teams among others. The Market Risk Team will provide an independent view as to whether the organization is receiving appropriate compensation for the risk they are taking.

The role will require a close collaboration with the Shell Energy Europe Market Risk team, as well as R&ES Commercial, Finance, Valuation, Compliance, and Back Office.

Responsibilities

Interact with and provide Market Risk advice and insight to senior commercial, risk, and finance colleagues. Provide independent advice and guidance on the level of risketurn in the business to senior commercial, risk, and finance colleagues.
Assess new deals and proposed transactions for a wide range of renewable and traditional power and gas related contracts to ensure that the commercial teams have identified and priced associated risks.
Work with the Valuation and Quantitative Analytics teams to understand, assess and model market risks including embedded physical optionality and optimization of physical portfolios changes exposures.
Ensure that all market risk exposures generated are fully understood and that the risk associated with market risk exposures are properly evaluated and communicated to the appropriate stakeholders.
Assist in limit setting & monitoring of the gas and power businesses, but equally play a key role in limit setting globally across the Trading and Supply business.
Drive understanding of the design and utilization of methodologies to assess riskeward of the portfolio, including VaR back-testing, stress testing, scenario analysis, liquidity analysis.
Understand and explain changes in VaR by breaking down the impact by its underlying drivers and ensuring that the VaR accurately reflects the positions taken and volatility of the relevant market.
Participate in and help set the agenda for Risk Committee meetings with Senior Leadership.
Define and advance analytical mindset and behaviours by providing support for training and learning opportunities to analysts to enhance their understanding of trade book strategies, complex deals, trading and risk mandates, and market fundamentals.
Attract, develop and retain top talent; includes identifying future leaders within the Market Risk team. Enable continuous professional development and timely training for risk professionals
Collaborate with other Market Risk and front office organizations to actively manage resources & processes to provide efficient analysis of risk across the portfolio.
Implement Shell best practices in commodity trading risk management.
Ensure that all trading activities remain within mandated limits and escalate appropriately if they are exceeded.

Competencies

Capable of being independent from front office; able to objectively analyse and report market risks and exposures in structured contracts, power purchase agreements, environmental / carbon transactions, and other highly complex transactions.
Able to assess impacts and suitability of new transactions and market entry activities on current portfolio and against strategies.
Strong stakeholder engagement skills, self-confidence and credibility to challenge traders on deals, valuations, positions, limit mandates.
Excellent communication skills, the role will require extensive written and oral presentations of analysis and insights to senior stakeholders. Due to the broad regional nature of the business, the role requires communicating using different methods, in a variety of formats, to people in different countries. Ability to articulate and communicate complex scenarios and ideas in a clear and concise manner whilst understanding the perspective and experience of others.
Team player, good interpersonal skills. Flexibility to work with colleagues across numerous time zones with Market Risk, Credit, Trading, and Finance in the Americas, Europe and Asia; but equally the Business Operations centres in Chennai, Manilla, Bangalore.
This is a role for a person who brings diversity of thought, who is not afraid to speak up and who is comfortable challenging senior stakeholders.
Proactively identify and communicate potential issues with the appropriate teams or stakeholders. Making sure problems raised are followed up and worked on until completion.
Ability to challenge sensitive issues constructively whilst maintaining working relationships.
Able to collaborate and produce good quality output using virtual chains of command.
Working closely with the Credit and other 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 batteries, storage, pipelines, cross-border transmissions, tolling agreements.
Ability to coach and mentor team members as well as members of other teams who require knowledge or skills that Risk can provide.

What We Need From You

Prefer degree in Economics, Mathematics, Science, Engineering, or Business, other degrees considered with relevant workplace experience in the energy trading industry. Advanced degrees a plus.
Thorough understanding of the financial and physical natural gas, power, and carbon markets including derivative instruments and hedging techniques.
In depth knowledge of the infrastructure of the energy trading and supply industry such as gas fields, pipelines, power plants, power grids, energy users. An understanding of the fundamental economics and pricing mechanisms behind these physical assets and flows of energy, and the trading strategies that relate to them in multiple global jurisdictions.
Substantial experience (15+ years or equivalent) within a trading and risk management organization, including a strong understanding of trading, operations, risk, compliance and mid/back-office business processes, policies, procedures and controls.
Sound understanding of current regulatory proposals and how these can impact T&S and RDS.
A strong proven track record in leadership in a team and business/function; leader and adviser in implementing new processes with short-dated hard deadlines.
Reliable, dependable and disciplined. Excellent attention to detail, methodical, organized. A trusted partner of the business.
Resilient when working under pressure, with the ability to prioritise tasks to meet key deadlines.
Good judgement to provide advice, question discrepancies, escalate issues.
Continuous improvement mindset: utilizing tools to streamline and automate work to boost efficiency.
Candidates shall possess extremely good judgment and shall be able to provide advice, while balancing risk and value on a daily basis.
Scientific mindset: identify, investigate, analyse, research, discuss, record, and resolve issues.
Learner mindset; innovative and creative, excellent problem-solving capabilities.
A critical and strategic thinker, with a long-term view on risk but with a short term and pragmatic view on implementation.

Shell started operations in the United Kingdom more than 110 years ago. Since then, we have grown into a leading innovative Oil & Energy company that rewards its employees by investing heavily in their careers and learning. Our people are our greatest asset, and our commitment to your career will see you thrive in a work environment that offers an industry-leading development programme. When your ideas travel, Shell will benefit, and innovation will thrive. Shell has a key role to play in helping meet the UK’s growing energy demand, whilst using innovative technologies to develop cleaner energy. We are the largest FTSE 100 company in the UK by market capitalisation and make a significant contribution to the UK economy. As well as processing 35% of the gas coming into the UK, we serve more than four million customers at our filling stations each week. Shell employs some 6,400 skilled staff as well as many contractors.

An innovative place to work

There’s never been a more exciting time to work at Shell. Everyone here is helping solve one of the biggest challenges facing the world today: bringing the benefits of energy to everyone on the planet, whilst managing the risks of climate change.

Join us and you’ll be adding your talent and imagination to a business with the ambition to shape the future – whether by investing in renewables, exploring new ways to store energy, or developing technology that helps the world to use energy more efficiently, everyone at Shell does their part.

An inclusive place to work

To power progress together, we need to attract and develop the brightest minds and make sure every voice is heard. Here are just some of the ways we are nurturing an inclusive environment – one where you can express your ideas, extend your skills, and reach your potential…

We’re creating a space where people with disabilities can excel through transparent recruitment process, workplace adjustments and ongoing support in their roles. Feel free to let us know about your circumstances when you apply, and we’ll take it from there.
We’re closing the gender gap – whether that’s through action on equal pay or by enabling more women to reach senior roles in engineering and technology.
We’re striving to be a pioneer of an inclusive and diverse workplace, promoting equality for employees regardless of sexual orientation or gender identity.
We consider ourselves a flexible employer and want to support you finding the right balance. We encourage you to discuss this with us in your application.

A rewarding place to work

Combine our creative, collaborative environment and global operations with an impressive range of benefits and joining Shell becomes an inspired career choice.

We’re huge advocates for career development. We’ll encourage you to try new roles and experience new settings. By pushing people to reach their potential, we frequently help them find skills they never knew they had, or make career moves they never thought possible.

Disclaimer

Please note: We occasionally amend or withdraw Shell jobs and reserve the right to do so at any time, including prior to the advertised closing date. Before applying, you are advised to read our data protection policy. This policy describes the processing that may be associated with your personal data and informs you that your personal data may be transferred to Royal Dutch/Shell Group companies around the world. The Shell Group and its approved recruitment consultants will never ask you for a fee to process or consider your application for a career with Shell. Anyone who demands such a fee is not an authorised Shell representative and you are strongly advised to refuse any such demand. Shell is an Equal Opportunity Employer.

Company: Shell

Vacancy Type:

Job Location: London, England, United Kingdom

Application Deadline: N/A

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