Procurement Risk Manager at Octopus Energy

Posted on:
January 5, 2023

🔭 Our mission & vision

Job Description

Our mission is to bring cheaper, green power to customers across the country and shake up the market in Italy

Octopus Energy entered the Italian market in November 2021 with the acquisition of the energy retailer SATO Luce e Gas, which is now rebranding as Octopus Energy Italia and is on a mission to bring cheaper, green power to customers across the country and shake up the market. Octopus Energy Italy is targeting 1 million Italian energy accounts by 2025 (5% of the market) and is now in a start-up phase which means that you will be able to shape the future of energy in Italy from day one.

We're providing a better experience for our customers through transparency, honesty and simplicity. We want to do better for the planet, through real long-term investment in renewable generation and a low CO2 future and better for our customer’s wallets with fair and affordable plans. We're revolutionizing what's possible in energy, through our proprietary platform and custom-built stack, cloud-based billing and sophisticated use of data science. We are relentlessly focused on customer satisfaction and cherish the reward of receiving tremendous reviews from our customers.

Wholesale gas and electricity make up both our largest costs 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 doBe accountable for accurate and complete management of all short and long-term wholesale risksCreate and own Octopus Energy Italy Risk Policy in line with Octopus Group risk appetite, with ongoing review and development as the business grows and the market evolvesCommercially manage relationships with key suppliers of wholesale gas and electricityCalculate and execute trades to ensure compliance with risk policyContinuously 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 accuracyWork with Data and Pricing colleagues to ensure tariffs and cost forecasts accurately capture up to date wholesale costsMake proposals on generation, flexibility, or DSR initiatives that will support risk management and innovative ways to deliver genuine renewable supplyContinuously challenge processes and deliver improvement/automation, or spec improvements/automation for delivery by the Tech teamWhat you'll needExperience working in several Electricity supply markets a big advantage but not essentialStrong analytical skills coupled with an ability to think strategicallyExperience with Python and SQLExperience managing and reporting on financial riskFlexibility 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 hereOctopus 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!Flexible working environment - genuine work life balance here, we treat you as a human, and do our best to make work and life merge smoothly togetherRelaxation - we don’t count your holidays here, we work hard, and so we know you need to play hard as well (within reason of course)Equity Options Scheme - you own your own part of the business, share options in the whole Octopus Energy Group so we all work together towards successOffice culture - have a certain tech requirement? We’ll do our best to get it. Weekly on a Friday we all get together (this happens virtually too) for company updates and drinks - we call it Family DinnerYour development is important - we support and help with development including internal and external courses, learning, study support etc, all bespoke to you

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