Market and Credit Risk Manager

Job Description

SummaryNEOM is building up an energy system that is based on 100% renewable energy generation provided mainly by PPAs and on supplies of green energy to industrial customers, SMEs and residential customers. In order to ramp up the system (generation and demand portfolio) in a balanced way NEOM will manage the commodity portfolio in one central function, the portfolio management department where most of the relevant commodity- & counterparty risks will be bundled.In order to manage these risks appropriately in line with NEOMs risk appetite NEOM Energy is looking for a Manager to develop and manage the portfolio- and counterparty risk management. Activities will be related to build up a dedicated risk management governance, to translate the governance in operational KPI and to optimize to the risk/return ratio of NEOMs portfolio management based on NEOMs minimum LCOE-approach in line with NEOM risk appetite.The potential candidate should have 7+ years of relevant experiences, a delivery track record, being highly motivated and must be a leading expert of evaluating, managing, and hedging customer supply contracts. Ability to build and manage strategic partnerships and building/managing a high performing team are equally required.Key Accountabilities And Responsibilities Strategy Development and Planning

• Support the Senior Portfolio Risk-Manager in developing the department strategy and related strategic plans
• Monitor and measure implementation of the departmental strategy and related strategic plans ensuring that variances are addressed in a timely manner
• Develop a strategy for managing commodity portfolio overview and risk management in NEOM regarding commodity, counterparty and related exposures
• Develop portfolio & risk management governance according to NEOMs risk appetite, set up of relevant processes, controls, documentation, SLAs

Evaluation

• Identify open portfolio positions, suggest risk mitigation measures
• Develop evaluation concepts for commodity risks
• Develop KPI concept for managing commodities risks and position, for example relevant VaR limit approaches for various risk types
• Calculate the emission exposure of the commodity portfolio
• Balance risks (commodity, credit, liquidity)
• Monitor capital market events across asset classes (Credit & Commodity), ad hoc reporting of relevant events

Portfolio & Risk Management

• Identify, assess, report and monitor market risks across a diversified commodity portfolio which includes analyzing hedging strategies and assessing material weaknesses or overlooked risks
• Carry out daily risk reviews and limit monitoring
• Understand exposure drivers and construct any necessary tools to facilitate risk and exposure analysis
• Contribute to, maintain and monitor the commodities stress testing framework
• Review limit framework to ensure appropriateness in the light of risk appetite, new trades, businesses, products risk factors and market conditions and opportunities
• Communicate key risks to management and escalate emerging or developing risks in a timely manner
• Apply existing hedging instruments (CDS, Credit Insurance, Surety Bonds) and develop new bespoke solutions for infrastructure projects
• Develop business cases for both risk taking or externalization
• Support acquisition projects and PPA valuation

Interface Management

• Identify, build and maintain strong working relationships with other teams in portfolio management (generation, retail, origination), Finance, Compliance, Energy & Water IT
• Ensure effective working relationships and communications with other internal operational teams
• Network with external partners - investment banks, insurers - for risk mitigating transactions
• Deputize for senior management in committees and decision bodies

People Management

• Organize and supervise the work of the assigned team to ensure that all work within a specific area of the activity is carried out in an efficient manner, which is consistent with operating procedures and policy
• Provide guidance and on the job training for junior colleagues and conduct knowledge sharing to facilitate achievement of team objectives and completion of tasks in an efficient manner which is consistent with operating procedures and policy

Background, Skills Technical skills:

• Thorough understanding of the fundamentals of carbon markets (voluntary and compliance), ESG principles and sustainability development strategies

• Deep understanding of voluntary carbon standards and UNFCCC mechanisms
• IRECs
• Verra
• Corsia
• Gold Standard
• GCC Standard
• Article 6

Required Commercial skills

• 15+ years relevant energy industry experience
• Experience as a large voluntary carbon credits buyer or seller
• Experience of large international transactions (million t +)

Required Management/Leadership skills

• Minimum of 5 years experience working at management/leadership level
• Board and Investment Committee exposure

Knowledge and Experience: Preferred

• Experience in GCC region
• Experience of regulation drafting and lobbying

Required

• Experience in carbon mitigation project development cycle
• Experience in MRV cycle

Other Skills and Experience:

• Self-starter, entrepreneurial and with a delivery mindset
• Ability to bring innovative ideas from inception to actual implementation through clear value propositions and roadmaps
• Minimum of 7 years of experience in a utility energy supplier in commercial, risk management, business development, origination and contract management roles
• Strong product knowledge is required, including an understanding of risk representations and a solid understanding of risk management concepts, stress testing and scenario analysis is required
• Proven track record of utility-type exposure hedging and externalization
• In depth understanding of methodological concepts of exposure calculation, ability to discuss on expert level with model developers
• Sophisticated understanding of Capital Markets and available hedging instruments across asset classes as well as Insurance products
• Experience in business case design to assess risk bearing capacity
• Basic M&A and PPA valuation know-how a plus
• Highly developed interpersonal and communication skills, a focus on efficiency, and enhanced multitasking abilities, combined with a can-do mentality are essential
• Ability to communicate with senior management and board/C-Level
• An interest in working in a fast-paced environment, often balancing multiple high priority deliverables
• Proven track record of delivering outcomes with strong ability to prioritize tasks in a highly dynamic and changing environment
• Project and process implementation experience, including documentation and system testing
• Strong experience in contracts and/or origination processes and procedures
• Ability to analyze and understand research and to identify relevant and valuable information
• Able to determine the actions, risks and end results required
• Ability to respond appropriately in unplanned and unforeseen circumstances
• Advanced analytical interpretation and problem-solving skills
• Strong presentation skills, presentation preparation and MS Office (Word, Excel, PowerPoint)
• Experienced Leadership skills especially in building up teams

Qualifications

• Bachelors Degree in Engineering, Business Administration or a related field
• Masters Degree is a plus
• 7+ years of relevant experience
• Consulting, Project Lead, or Team Head experience required

Keyskills :
Stress Testing Ms Office Presentation Preparation Contracts Leadership Skills scenario analysis carbon markets Capital Markets

About Company

Pfizer Inc. is an American multinational pharmaceutical and biotechnology corporation headquartered on 42nd Street in Manhattan, New York City. The company was established in 1849 in New York by two German immigrants, Charles Pfizer (1824–1906) and his cousin Charles F. Erhart (1821–1891).
Pfizer develops and produces medicines and vaccines for immunology, oncology, cardiology, endocrinology, and neurology. The company has several blockbuster drugs or products that each generate more than US$1 billion in annual revenues.In 2020, 52% of the company's revenues came from the United States, 6% came from each of China and Japan, and 36% came from other countries