Technical Manager, Commodity Market Risk

Technical Manager, Commodity Market Risk

Location:

Houston, TX 77079 (Hybrid)

FTE Position

We are seeking a highly skilled Technical Manager, Commodity Market Risk to provide senior quantitative leadership and serve as a recognized subject matter expert across market risk disciplines. This role will drive advanced risk analytics, including Value at Risk (VaR), stress testing, and structuring analysis, while leading complex, cross‑functional initiatives that support informed decision‑making in dynamic commodity markets.

• Lead VaR model integrity, P&L decomposition, and end‑to‑end FEA VaR integrity risk to ensure accurate and scalable enterprise risk reporting.
• Conduct market risk assessments for new business initiatives, supporting senior management and CFRMC approval processes.
• Deliver end‑to‑end development of risk reporting tools and automation, leveraging Python and Power BI for advanced analytics.
• Expand team capabilities in risk reporting development, stress testing, back testing, and scenario analysis (including VaR simulations) to strengthen risk insights and reporting.
• Enhance valuation controls and price curve validation processes, ensuring robust and reliable enterprise reporting.
• Demonstrated expertise with Pricing Data warehouse, ZEMA pricing connections, other APIs and related functionality.
• Collaborate cross‑functionally with Trading, Business Development, Risk, IT, Accounting, Legal, and Compliance teams to support full transaction lifecycle success.
• Provide on‑going Risk Policy approval recommendations based on technical analysis to support clear governance over commodity desk activities involving authorities, market risk limits, strategies, transaction types, and geographies.
• Support quarterly management meeting content for multiple business units relating to proposed Risk Policy approvals, ongoing market risk communication and risk metrics oversight.
• Monitor and report metric‑related Risk Policy non‑compliance events relative to applicable prescribed commercial limits.

• Bachelor's degree in economics, finance, or applied sciences with 8+ years of in‑depth experience in power, natural gas, and/or crude oil markets in risk management.
• Advanced coding experience in Python, SQL, and Business Intelligence apps (Power BI is preferred).
• Experienced in performing risk control processes, including the development, monitoring, and enforcement of market risk limits, daily risk reporting of commodity MTM, VaR and positions.
• Strong understanding of probabilities and statistics with the ability to perform scenario stress testing and analysis, back testing of strategies and trading portfolio decomposition of risk.
• In‑depth knowledge of modern VaR and GMaR methodologies.
• Excellent written and oral communication skills; ability to explain financial models in operational terms.
• Dynamic interpersonal skills and the ability to work effectively with others.
• Thrives in a dynamic, collaborative working team environment involving daily tasks, project work and new product development.
• Strong understanding of multiple option valuation methodologies and risk management approaches.
• Experience in the design of risk metrics and controls to manage cash month price risks.
• Experience reviewing large pricing data history, creating and identifying value‑added visualizations and insights for decision makers.
• Ability to create new market risk tools and processes by defining a project's vision and executing it from inception to completion.
• Technical experience risk managing, troubleshooting and modeling transactions in Openlink/Endur or similar energy trading and risk management systems (ETRM) across the transaction life cycle.

• Experience with Open Link/Endur (or similar ETRM systems) is a strong asset.
• CFA, MBA, CA, or other related designation is an asset. Risk Management designations in ERP or FRM are also an asset.
• Concurrent cross commodity expertise across multiple geographies for liquid and illiquid products, exchange traded activities, including CSO's.
• Power specific experience:
  Strong understanding of how to analyze power LMP/congestion settlement and external forward pricing sources, make…