Lead, Market Risk

Capital Power; Calgary; On-site; CAD 100,000 - 130,000; Full time

Job summary

A growth-oriented energy company in Calgary, Alberta is looking for a Lead Market Risk professional to manage risk functions within its Commodity Risk Management Program. You will lead a team and ensure compliance with risk limits while developing and maintaining risk analytics capabilities. This hybrid role requires significant experience in market risk and strong analytical skills to support trading activities. Comprehensive benefits and development programs are offered, along with relocation assistance if necessary.

Benefits

Flexible and affordable employee benefits

Retirement savings

Paid time off programs

Referral reward program

Qualifications

• 8 years in market risk quantitative analysis or related middle-office roles.
• Proven experience leading and mentoring market risk teams.
• Hands-on experience with risk limit analysis, setting and monitoring.

Responsibilities

• Lead and mentor the Market Risk team fostering analytical excellence.
• Develop frameworks for risk limit analysis and compliance.
• Oversee risk analytics to support trading and hedging activities.

Skills

Market risk analysis

Leadership

Analytical skills

Risk quantification models

Communication

Collaboration

Education

Post-secondary degree in Finance, Economics, Mathematics, Engineering or related field

Advanced degree (Masters, PhD) or professional designation (CFA, FRM, PRM)

Tools

ETRM

Excel

Python

R

MATLAB

Job description

A little about Capital Power

Capital Power (TSX: CPX) is dedicated to Powering Change by Changing Power. This north star guides our ambitions, focus and actions as we transform our energy system to power a lower‑carbon future. We are a growth‑oriented North American energy company headquartered in Edmonton, Alberta. Our team safely delivers builds and creates balanced energy solutions for customers across North America.

Our people are at the core of our journey to deliver reliable, affordable, and lower‑carbon power solutions. We provide purpose‑driven work in a safe and inclusive environment and we live by our North Star. With us your contributions matter; we want you to be empowered to innovate, collaborate, and ultimately drive results. We’re here to partner with you so you can learn, grow, and forge a career that’s meaningful to you. Join us in powering North America!

Your Opportunity

One Permanent Full Time Position.

The Lead Market Risk is responsible for managing the Market Risk function within the Commodity Risk Management Program, providing strategic oversight and leadership in risk analysis, limit setting and risk reporting. This role develops and maintains risk analytics capabilities, sets and monitors risk limits, and ensures all trading strategies and new deals align with the organization’s risk management objectives. The Lead Market Risk mentors and guides a team of market risk specialists, drives continuous improvement in risk processes and models, and collaborates with front‑office risk and senior management to support effective decision‑making and risk governance.

You will contribute to our team by :

• Lead and mentor the Market Risk team fostering a culture of analytical excellence, collaboration and continuous improvement.

• Develop and execute frameworks for risk limit analysis, setting and monitoring, including gaining approval for specific risk limits and ensuring ongoing compliance.

• Oversee risk analytics capability supporting oversight of trading and hedging activity, exposure analysis, proactive and ad hoc risk analysis and alignment with organizational risk management strategy.

• Ensure strategy alignment, validating that new deals and trading strategies are consistent with the organization’s risk management objectives.

• Manage and validate risk quantification models (e.g. VaR, stress testing, back testing) ensuring robust measurement and reporting of market risk exposures.

• Oversee valuation and model governance including price curve validation, options modeling and independent evaluation of pricing and risk models.

• Monitor risk limits and exposures, reviewing for breaches, producing exception reports and ensuring timely escalation and resolution.

• Prepare and deliver risk reports and analysis to senior management supporting decision‑making and risk oversight.

• Collaborate with front‑office risk and finance teams to support complex structured transactions, model development and risk reporting.

• Drive process improvements and system enhancements within risk analytics and reporting frameworks.

What you will bring to the role :

Education :

Post‑secondary degree in Finance, Economics, Mathematics, Engineering or a related field.

Advanced degree (Masters, PhD) or professional designation (CFA, FRM, PRM) is an asset.

Experience :

8 years in market risk quantitative analysis or related middle‑office roles within trading commodities or financial services.

Proven experience leading and mentoring market risk teams.

Hands‑on experience with risk limit analysis, setting and monitoring.

Experience developing and maintaining risk analytics capabilities and risk models.

Exposure to strategy alignment, risk reporting and oversight of trading and hedging activities.

Direct experience in power markets (e.g. WECC, PJM, ERCOT, AESO) is highly valued.

Technical Skills :

Advanced proficiency with risk management systems and analytical tools (ETRM, Excel, Python, R, MATLAB).

Expertise in risk quantification models (VaR, stress testing, back testing).

Strong quantitative modeling skills including options valuation, price‑curve modeling and mark‑to‑model techniques.

Ability to develop, maintain and validate risk analytics and reporting frameworks.

Familiarity with power market data, price curves and valuation models specific to regional markets (e.g. WECC).

Ability to interpret and model market‑specific risk metrics and exposures.

Skilled in simulating dispatch operational constraints and market exposures for generation and storage assets and asset‑related contracts.

Working Conditions :

Hybrid Office / Work from home position with possible very minimal travel to meet business users at Capital Power facilities or other offices.

Additional Details :

This position will remain open until a suitable candidate is found.

Clearance of Credit check is required for this position.

In order to be considered for this role you must be legally eligible to work in Canada.

The successful candidate for this position will undergo an education verification, reference checks and criminal record check.

Capital Power employees that refer a successful candidate for this position are eligible for a $1,000 Referral Reward!

We believe that creating a culture that supports employee physical, mental, financial and social wellbeing is critical to our success. That is why we provide flexible and affordable employee benefits, retirement savings and paid time off programs. We also provide comprehensive onboarding training and programs supporting your career development.

Depending on the posting requirements relocation assistance may be available.

How To Apply and Next Steps

Capital Power only accepts resumes via online application at If you choose to submit your resume by any other means we cannot guarantee that your application will be considered for vacancies.

Applicants with disabilities who require a reasonable accommodation to complete their application can request accessible formats, communication support or other accessibility assistance by contacting .

Capital Power is committed to providing a fair and transparent hiring process. We recognize and embrace the value of diversity and hire employees with the appropriate skills, experience and knowledge for each position.

Thank you for taking the time to apply and expressing interest in powering a sustainable future with Capital Power! We wish that we could personally respond to everyone who applies; however it is our practice to contact only those individuals selected for interviews.