US Procurement Risk Manager at Octopus Energy

Posted on:
April 5, 2023

🔭 Our mission & vision

Job Description

Help us make a big green dent in the universe. We're on a mission to drive the global renewable energy revolution, and we need loads more people to help us make our vision a reality.

We are not like a traditional Energy Procurement team. Instead of working in large siloed teams, our Trading, Risk, Forecasting and Data-science functions work closely together utilising the latest technologies to maintain a lean operation as the company grows. 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. 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. This role is based within our London office, working alongside the team managing and building our European Risk processes. However, there will also be close and frequent engagement with US teams (leadership, sales, finance, data etc). As such, the core hours for this role will be based on US central time and a degree of travel should be expected.What you'll do Accountable for accurate and complete management of all short and long-term wholesale risks.Work with Group Risk team to spec and build our internal ETRM software for clear and accurate trade capture and position and risk reportingContinually 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/automationDevelop REC hedging strategy What you'll needExperience working in energy markets (particularly US markets) very advantageousVery 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 hereWondering what the salary for this role is? Just ask us! On a call with one of our recruiters it's something we always cover as we genuinely want to match your experience with the correct salary. The reason why we don't advertise is because we honestly have a degree of flexibility and would never want salary to be a reason why someone doesn't apply to Octopus - what's more important to us is finding the right octofit!Octopus 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! We won best company to work for in 2022, on Glassdoor we were voted 50 best places to work in 2022 and our Group CEO, Greg has recorded a podcast about our culture and how we empower our people. We’ve also been placed in the top 10 companies for senior leadershipVisit our UK perks hub - Octopus Employee BenefitsIf 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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