Energy Risk Professional at Octopus Energy

Posted on:
January 5, 2023

🔭 Our mission & vision

Job Description

Welcome to the future of energy

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.

Through our proprietary tech platform, Kraken, we are changing the way people interact with their energy company - by making it approachable, low cost, easy-to-understand, and most importantly, 100% renewable.  We’ve distinguished ourselves by being named 2020’s Energy Provider of the Year, which highlights our commitment to exceptional customer service. In many markets we are a leading employer on Glassdoor for best places to work.

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.What You'll DoAccountable for accurate and complete management of all short and long-term wholesale risks.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, or spec improvements/automation for delivery by the Tech team.Develop REC hedging strategy What You'll Need Experience working in several Electricity supply markets (NYISO, PJM, MISO, ISO-NE, ERCOT)Very bright, highly numerate, ability to handle multidimensional conceptsExperience with Python and SQLExperience managing and reporting on financial riskStrong analytical skills coupled with an ability to think strategicallyExcellent verbal and written communication skillsFlexibility to grow and adapt as the business growsAble to challenge with empathy and support  as required at times as we develop the businessComfortable with some ambiguity (our world is changing fast)Why Else You'll Love It HereGreat medical, dental, and vision insurance options including FSAs.Unlimited paid time off — we know working hard means also being able to recharge as needed, we trust our employees to get the work done and take the time they need.401(k) plan with employer match.Parental leave. Biological, adoptive and foster parents are all eligible.Pre-tax commuter benefits.Flexible working environment: you need to shift around your schedule? You do you, we genuinely believe in work/life balance.Equity Options: every Octopus employee owns part of the business. We’re a team, working together towards huge goals. Every person is crucial to our success, you should be rewarded as such.Modern office or co-working spaces depending on location.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.

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