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Job Description:
The purpose of this position is to be the Market Risk Manager for Shell Energies and to lead a team of process managers/experts & STM’s who work with the Market Risk Organization and the various business partners to ensure the Shell Energies Risk is reported and evaluated as per T&S design, engage business to ensure trading is conducted within the prescribed mandates and provide deep insights into the Trading business to seniors leaders and board members, including operations of key controls across business lines.
The Market Risk department pulls together a range of expert skills that ensure accurate and timely reporting, and allow us to offer professional advice on the wide range of issues that the department gets involved in. The Market Risk Manager-Energies will report to the Market Risk Manager-SET in FO and is to be part of Global Market Risk Manager’s Leadership team.
Market Risk organization is accountable for bringing insight and value to the trading organisation through objective analysis and challenge of the trading books. The team would operate or own key controls and augment these controls by providing management at all levels an objective view of performance, risk and potential reward.
The role works closely with stakeholders globally including Global Market Risk functions, Global Risk organizations (Business Heads), Commodities Risk Management Solutions team, Credit Risk, Trading Commercial and Operations teams, Finance in the Business, IT, Technical & Derivative Accounting and TSA and R&A teams.
The Market Risk department is a specialized unit in Finance Operations that operates in the Chennai, Bangalore and Manila centers. The team has front line responsibility for risk measurement; deal valuation, exposure reporting and price validation. We are interested in attracting people to our business who share our core working values of honesty, integrity and respect for others. We also want those who can build on our business vision, are prepared to accept accountability and can achieve great results through teamwork.
Market Risk: The Market Risk department is an exciting and growing team in ERA Finance Operations. The team has been continuously absorbing newly migrated activities over the last eight years with continued growth and more complex work will continue to be absorbed into the teams. The Shell Energy trading division is one of the most complex and diversified portfolios in T&S and is a critical division supporting Shell’s powering progress plans. Shell energies is also a global trading and risk management division for support Australia, Asia, Europe, North America and South America.
Accountabilities:
The Market Risk Manager-Energies will focus on the following deliverables:
Risk valuation
Independently verify exposure and valuation of executed transactions
Ensuring all exposures are properly recorded using established fair value methodologies for Shell Energies
Ensuring all trading activities remain within mandated exposure and risk limits
Working closely with all location specific risk management teams to ensure trading risks and returns are fully understood, captured and challenged where necessary.
Implementing and maintaining appropriate controls within Market Risk to ensure successful SOX and GRA attestation for activities.
Develop effective KPI’s for risk activities and communicate these back to the Shell energies trading business.
Develop and support the design and implementation of ETRM including project ADA and Aspire.
Process Performance
Assess, analyse, report, and explain portfolio risks emerging from all activities in Shell energy trading.
Value the portfolio consistently and effectively to ensure that the risk reporting capabilities are robust and effective, including complex deals.
Ensure price reporting activities are conducted accurately.
Develop fit for purpose risk measurement models for complex physical deals unique to Shell.
Provide independent advice on valuation and risk with risk reward insights to the business
Independently challenge the business on the portfolio and provide portfolio risk estimates based on statistical measures (e.g. VaR), simulations (e.g. stress testing), and other analysis
Advise commercial teams on risk mitigation strategies while ensuring risk management, maintenance and breach escalations are effectively implemented.
Implementing an appropriate support model (e.g. SMEs, integration with IT support model etc.).
Provide clear insight to integrity of information in the ETRM and P&L calculation while having an independent, forward looking view of risk and reward.
Process Improvement
Ensure deals are represented accurately, measured and valued consistently across product / business lines to ensure standardized process is followed.
Develop and operate standard deal evaluations methodologies for linear and complex transactions.
Develop and operate Risk analytics and metrics including stress testing, liquidity analysis, long dated risk analytics and options analytics
Develop and improve tools to provide what if capabilities necessary to provide assurance to models used in Risk for valuing or risk assessing the trading portfolios.
Further developing and fostering connections with relevant business partners in the T&S Market Risk and other stakeholders (including other processes) to ensure appropriate input and co-ordination with wider change and development plans
Driving complex improvements, influencing business partners to address feeder process issues, eliminate manual workarounds, process step-outs, and leveraging technology.
Supporting and influence projects involving system changes, upgrades and enhancements and ensuring adequate testing is conducted before go-live.
Leadership
Lead a team of over 10-15 risk professionals globally with 2-4 individuals reporting directly, to operate and monitor risk of Shell Energies Trading round the clock.
Building process, Trading and Risk knowledge/skills within the team on Gas, Power and EPTB.
Responsible for staff and position planning, employee recruitment and retention across the team.
Reviewing the structure of the team periodically to ensure it is appropriate.
Supporting and assisting collaboration and ways of working between operations teams and business partners as required.
Skills & Requirements:
A degree holder in Mathematics, Science, Finance or Economics is preferred.
Candidates with Post Graduate Degree in Finance along with CFA or FRM would be preferrable.
10+ years’ work experience in various financial positions, with experience of applying Financial and trading risk models, process, and controls principles in practice
Prior experience of Gas or Power trading environments, high frequency trading, associated financial processes or controls would be preferred.
Experience leading large diverse virtual teams is critical
The ideal candidate will be highly numerate, logical, can prioritize and multi-task, and be comfortable working in teams.
A deep understanding of commodity markets business would be essential along with operational knowledge of Energy Trading’s systems and processes e.g. Endur, Aligne etc.
Expert knowledge in Gas and Power trading, deal structuring, tolling agreements, deal review etc.
Understand option pricing and its valuations for both physical and derivative deals.
Risk management knowledge or experience is a requirement.
Expert knowledge of carbon trading, carbon tickets, bio market, climate risk, battery modelling is required.
Strong leadership skills with the ability and skills to motivate and retain staff and to develop leadership within an organization
Excellent communications skills, both written and oral
Excellent stakeholder engagement and change management skills
The role involves extensive interactions with various senior stakeholders and therefore requires a combination of intellect, maturity, the strength of character, and an ability to earn respect
Proven organizational and prioritization skills
Experience working with Energy Trading and risk management systems.
Additional Information:
The role requires a person who brings a diversity of thought and strong collaboration.
Strong analytical skills required; detail and accuracy oriented.
Finance and accounting skills including the ability to understand financial results and financial and management reports.
Experience with risk analysis, value-at-risk, financial derivatives, or physical energy markets.
Demonstrates the ability to work with a cross-functional work group
Demonstrates the ability to drill down into complex data and must have a keen eye for details
Must be able to demonstrate creativity in problem-solving.
Continue the change journey to move to stable systems and processes.
This includes aligning the respective Integrated Process Plans so that opportunities to run more consistent, effective and efficient processes are identified and delivered.
Build and maintain credibility for self and team with external contacts (to understand best practices) as well as the T&S and other Shell businesses. This involves appropriate business knowledge, connections and relationships.
Build appropriate connections with other FO teams with a one Finance behavior.
Build and retain business, processes & systems knowledge.
Balance leadership with ensuring sufficient in-depth Risk knowledge of process, systems and issues to help guide and support direct reports.
An Innovative place to work
There’s never been a more exciting time to work at Shell. Everyone here is helping solve one of the biggest challenges facing the world today: bringing the benefits of energy to everyone on the planet, whilst managing the risks of climate change.
Our business has been built on a foundation of innovative technology and skilled employees. By providing energy to sustain people’s lives for more than a hundred years, Shell has become one of the world’s leading companies.
Join us and you’ll be adding your talent and imagination to a business with the ambition to shape the future. At Shell, everyone does their part.
An Inclusive place to work
Shell is working to become one of the most diverse, equitable, and inclusive organizations in the world. We are taking steps to create an environment where everyone – from our employees, to our customers, partners, and suppliers – feels valued, respected, and has a strong sense of belonging.
To achieve this, we must ensure all people are treated fairly, irrespective of their race, color, religion, age, gender, sexual orientation, gender identity, marital status, disability, ethnic origin, nationality, or other status.
To power progress together, we need to attract and develop the brightest minds and make sure every voice is heard. Here are just some of the ways we are nurturing an inclusive environment – one where you can express your ideas, extend your skills, and reach your potential.
We’re closing the gender gap – whether that’s through action on equal pay or by enabling more women to reach senior roles in engineering and technology.
We’re striving to be a pioneer of an inclusive and diverse workplace, promoting equality for employees regardless of sexual orientation or gender identity.
We consider ourselves a flexible employer and want to support you finding the right balance. We encourage you to discuss this with us in your application.
A rewarding place to work
Combine our creative, collaborative environment and global operations with an impressive range of benefits and joining Shell becomes an inspired career choice.
We’re huge advocates for career development. We’ll encourage you to try new roles and experience new settings. By pushing people to reach their potential, we frequently help them find skills they never knew they had, or make career moves they never thought possible.
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