Market Risk Senior Specialist

Pembina Pipeline Corp.; Calgary; On-site; CAD 90,000 - 130,000; Full time

Job summary

A dynamic energy company based in Calgary is looking for a Sr Specialist, Market Risk to lead risk reporting processes, ensuring alignment with company policies. The role requires 10+ years of market risk experience, ideally in energy and commodities, alongside a Bachelor's degree in Finance or a related field. Candidates should have a strong grasp of risk metrics and proven analytical skills. This position emphasizes collaboration and cultural diversity within the workplace.

Benefits

Flexible Work Standard allowing remote work on Fridays

Total rewards package

Access to community engagement and volunteer opportunities

Qualifications

• 10+ years of market risk experience, ideally within the energy sector and commodities.
• Deep understanding of energy markets, physical/financial instruments, deal lifecycle, and risk methodologies.
• Strong grasp of risk metrics (e.g., VaR, Stress Testing, MTM, exposure, position, PnL).

Responsibilities

• Lead risk reporting processes, including daily risk reports and presentations to senior leadership.
• Establish governance frameworks for market risk activities, ensuring alignment with policies.
• Perform risk analysis across commodities including MTM, positions, PnL, exposure, and VaR.

Skills

Market risk analysis

Risk reporting

Financial modeling

Communication skills

Analytical skills

Education

Bachelor’s degree in Finance, Accounting, Economics, or a related discipline

CFA, CPA, MBA preferred

ERP or FRM designation in Risk Management

Tools

Microsoft Excel

Python

Power BI

SQL

ETRM systems

Job description

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Pembina Pipeline Corporation is a dynamic energy transportation and midstream provider, serving customers for more than 65 years. Chances are, we do more than you think. We own pipelines that transport hydrocarbon liquids and natural gas products produced primarily in Western Canada. We also own gathering and processing facilities and an oil and natural gas liquids infrastructure and logistics business. Our operations along the hydrocarbon value chain allow us to offer a full state of midstream and marketing services to our customers in the energy industry.

We are an organization that cares not only about results, but how those results are achieved. Our organization is grounded in the values of Safe, Trustworthy, Respectful, Collaborative and Entrepreneurial. Cultivating a positive employee experience and promoting a diverse and inclusive environment where our employees feel engaged, recognized and empowered is foundational to our ambition of being an employer of choice. Learn more about our values and strategy.

We value the safety of our communities, customers, contractors and employees, and believe that all incidents are preventable. Compliance with all policies, procedures and regulations is a requirement, and our Life Saving Rules are basic rules that everyone should know and live by. Working for Pembina means working safely.

Overview:

Pembina Pipeline Corporation’s Calgary office is actively hiring for Sr Specialist, Market Risk to join the team. This position reports to the Director, Middle Office in the Financial Services Unit, part of Pembina’s Financial Services Division.

The successful candidate will lead the development and continuous enhancement of risk reporting activities and ETRM integration within Pembina’s Market Risk function. This role will support the Director by providing insights on risk management activities through a comprehensive understanding of market risk and reporting, improving daily risk reporting practices, and serving as a key liaison with Front-office and Back-office personnel across the organization.

The Financial Services Unit supports the company’s major decisions by providing an in-depth understanding of financial health in both the short and long term, including credit and market risk, weighted average cost of capital, and capital markets opportunities for growth (such as financing strategy and M&A opportunities). The team is responsible for understanding the current state and future scenarios, and their potential impact on external stakeholders, including shareholders and rating agencies.

Responsibilities may include but not limited to:

• Lead Pembina’s Risk Reporting processes, including daily risk reports and consolidating material for presentations to senior leadership;
• Establish and maintain governance frameworks for market risk activities, ensuring alignment with Pembina’s risk policies, regulatory requirements, and internal controls; oversee risk limit adherence, escalation protocols, and documentation standards;
• Serve as a key stakeholder and SME for ETRM development and maintenance, focusing on data requirements, testing, reporting, and enhancement opportunities;
• Develop and mentor the team, exercising a high degree of informal leadership and providing guidance on group deliverables;
• Perform and present risk analysis across commodities (Natural Gas, Crude Oil, NGLs, FX), including MTM, positions, PnL, exposure, and VaR;.
• Validate front office reports independently (PnL, position, exposure) and monitor transaction activity for compliance with trader mandates and limits; investigate anomalies and collaborate with Front Office to resolve;
• Leverage ETRM and Data Warehouse systems to develop and maintain quantitative risk models for exposure, position, and PnL;
• Support strategy and roadmap development for data quality, analytics, modeling, reporting, and decision support tools;
• Collaborate with commercial teams to perform scenario-based analysis on strategies, assessing exposures and impacts on key risk measures;
• Build and maintain strong relationships with Front Office, Treasury, Counterparty Risk, Corporate Development, and Investor Relations to provide risk insights and promote a “getting to yes safely” culture;
• Review and develop product and limit requests in collaboration with business units;
• Manage and validate reference data, forward price curves, and trader marks;
• Lead standardization, efficiency, and automation initiatives across risk processes;
• Apply sound judgment to identify and solve problems within established parameters;
• Provide ad‑hoc analysis and support for other business areas and audits as needed;
• Communicate complex risk concepts to non‑technical stakeholders and influence decision‑making;
• Demonstrate learning agility by actively seeking feedback, adapting to new information quickly, and applying learnings to improve performance and deliver results in a dynamic environment;
• Support Pembina’s safety culture, including “Zero by Choice” and the “Life Saving Rules.” and
• Promote an equitable, diverse, and inclusive workplace.

Qualifications:

• Demonstrates Pembina’s core values: safe, trustworthy, respectful, collaborative, and entrepreneurial;
• Bachelor’s degree in Finance, Accounting, Economics, or a related discipline; CFA, CPA, MBA preferred;
• ERP or FRM designation in Risk Management is an asset;
• 10+ years of market risk experience, ideally within the energy sector and commodities;
• Deep understanding of energy markets, physical/financial instruments, deal lifecycle, and risk methodologies;
• Strong grasp of risk metrics (e.g., VaR, Stress Testing, MTM, exposure, position, PnL);
• Familiarity with regulatory requirements and industry trends in risk reporting;
• Proven ability to analyze and explain book changes quickly and independently;
• Advanced financial modeling skills, Monte Carlo simulations, P&L, Risk Attribution and MTM reporting;
• Proficient in Microsoft Excel, with experience in databases and data validation;
• Solid understanding of price risk and energy infrastructure (e.g., Fixed Price, Basis, Index, Transportation, Storage);
• Experience implementing ETRM systems, preferably RightAngle;
• Demonstrated ability to quickly learn new tools, technologies, or processes and apply them effectively in a fast‑paced environment;
• Excellent analytical, problem‑solving, and communication skills, with the ability to translate complex concepts for non‑technical stakeholders; and
• Proficiency in Python, Power BI and SQL an considered an asset.

Pembina’s Flexible Work Standard provides the option for eligible employees to work remotely on Fridays.

The successful candidate must be legally able to work in the country of the position. Final candidate will be required to undergo Pre‑Employment Background Checks including a Criminal Record Check.

This position is scheduled to be posted until end of day:01/05/2026. In rare circumstances, a position may be posted for less time if there has been significant interest in the role.

Our expectations are high, and our rewards reflect this: We treat our people well - whether it's through our total rewards package, community engagement or volunteer opportunities, all in an environment that is equitable, safe, respectful, inclusive and accessible.

We recognize that diverse perspectives and experiences fuel innovation and enrich our workplace culture. We firmly believe that every individual's unique background, identity and contributions contribute to our collective success. We encourage applications from individuals of all backgrounds and experiences. If you're contacted to set up an interview and you require accessibility accommodations, please let your Talent Acquisition Advisor know at that time.