This is an exciting and pivotal role within UK Business Energy Procurement team. The key purpose is to evaluate risk exposures inherent to the pricing and hedging strategies of UK Business and to develop appropriate risk methodologies and reporting tools to support and monitor the commercial hedging decisions made by UK Business.
As the manager within the Risk Management area you will be responsible for:
- Overseeing the energy procurement, hedging, position management and demand forecasting of UK Business’s power and gas customers
- Responsible for the calculation and monitoring of gas and power cashout costs
- Responsible for imbalance and gas flexibility risk premiums
- Responsible for risk premiums for the business, such as the deemed customers premium and no standing charge products premiums by using financial and quantitative mathematics
A critical role within the business, this position will require liaison across UK Business, Finance & EM&T. The role will deliver insight into, and value for, the UK Business portfolio by informing various strategic decisions, principally those relating to forecasting, hedging and risk management.
The key responsibilities include:
- Managing a team of quantitative analysts
- Identify, measure and manage risks associated with the forecast and hedge (£1.5bn worth of gas and power purchases annually)
- Responsible for creation and update of commodity risk premiums for UK Business
- Provision of risk analysis and quantitative services to UK Business
- Pro-active identification of risk, protecting UK Business’s operating profit
- Pro-actively working with others to reduce risk in our product set
- Provide market updates to internal and external customers
- Develop robust processes and systems to support the hedging of UK Business’s energy requirements
- Provide necessary input and analysis into product development
- Provide accurate procurement reporting
- Report accurate gas and power cashout costs
- Report key financial risk metrics to BG Financial Risk
- Provide inputs into the creation of gas and power forward curves (scalars, spreads)
- @RISK, and extensive experience of simulation techniques such as Monte Carlo
- Excel VBA
- Excellent numeracy and IT skills
- Strong analytic ability with excellent problem solving skills
- Project/change management
- Time management and stakeholder management skills
- Ability to present complex topics to senior management in a simple and compelling manner
- Degree/MSc/PhD or equivalent in Mathematics/Statistics/Computing/Engineering or highly numerate discipline
- Experience of the commodities market, in particular gas and power
- Experience of risk management
- Deep understanding of risk analysis and probability/statistics and quantitative analysis
- Very strong analytical skills, ability to manipulate complex spreadsheets and analyse/present results
- Experience of presenting complex topics to senior management in a simple and compelling manner
Base Salary c.£70k plus excellent benefits including private health cover, bonus scheme and car allowance.
British Gas, part of the Centrica Group, supplies gas and electricity to UK residential and business customers, provides central heating and gas appliance installation and maintenance and low-carbon and energy efficient products and services.
PLEASE APPLY ONLINE by hitting the 'Apply' button. Please upload your cover letter and CV as one document.
Applications will ONLY be accepted via the ‘Apply’ button.
To request an update on this role, or if you have any problems uploading your CV please email email@example.com typing ‘Update required: Risk Manager R9938191’ in the subject title.
Agencies: Centrica operate a preferred supplier arrangement, however if you wish to be considered at the next review session please submit a brief overview of your capability to PSL@centrica.com.