Risk Analyst

Steelreef; Calgary; Hybrid; CAD 80,000 - 120,000; Full time

Job summary

Steel Reef, a leader in energy management, is seeking a Risk Management Specialist to provide expertise in assessing market and credit risks. The ideal candidate will have a degree in a related field and extensive experience in the energy industry. This role involves collaborating across departments to ensure compliance with the company's Risk Management Plan, facilitating risk assessments, and supporting decision-making processes.

Qualifications

• 4-7 years in a risk management-related role in the energy industry.
• Strong understanding of energy markets and risk management methodologies.
• Advanced proficiency with Microsoft applications.

Responsibilities

• Prepare counterparty credit reports summarizing credit exposure.
• Assist with managing the Enterprise Risk Management (ERM) framework.
• Track, operate and manage the Risk Register.

Skills

Risk Management

Financial Analysis

Quantitative Skills

Communication Skills

Microsoft Applications

Education

University degree in Finance

CFA or CPA designation

MBA

Job description

Job Description

Posted Monday, May 26, 2025 at 8:00 AM

Steel Reef is a Canadian company that gathers and redistributes potentially wasted gas to deliver the energy that powers our lives.

From our Saskatchewan roots, we have grown into a dominant player in flare gas capture, contributing to the energy transition through coal-to-gas switching to power homes, communities and industries dedicated to reducing emissions and powering potential.

Since our inception in 2012, Steel Reef has supported the energy community in capturing wasted energy, processing and distributing associated natural gas and other products, and bringing in net new energy production and distribution for homes, communities and businesses.

Focusing our efforts within the Western Canadian Sedimentary Basin and Bakken Resource Play, Steel Reef has become a market leader in developing the emissions-to-energy practice to supply net new energy from flare gas, a previously unavailable source.

In 2024, Steel Reef entered into multiple long-term Power Purchase Agreements with SaskPower. Following construction of additional utility-grade electricity substations and generation turbines powered by recovered flare gas, Steel Reef will provide more than 100 megawatts (MW) of electricity within Saskatchewan and North Dakota, which could power more than 100,000 homes annually.

Position Summary:

As the successful candidate, you will primarily provide risk management expertise in the areas of Market Risk by evaluating and assessing commodity exposure and risk surrounding our marketing team’s activities; Enterprise Risk Management including ownership of the corporate risk register; and Counterparty Credit Risk through evaluation of exposures to our client base. In this role, you will facilitate risk assessments to proactively identify, document and assess risks throughout the organization and report on these risks monthly. You will be accountable for supporting various teams across the company and ensuring that all areas of the business comply with the company’s Risk Management Plan. This position reports to the Manager, Treasury & Risk.

Position Responsibilities:

• Prepare counterparty credit reports and supporting models summarizing credit exposure and ongoing creditworthiness of existing customers and recommend actions to manage ongoing credit risk
• Manage collateral requirements across counterparties (marketing, E&P, other) including LC’s, bonds, prepaids, etc.
• Summarize monthly exposure reporting by counterparty versus collateral and open credit available
• Coordinate materials and agendas for the CCRC (Counterparty Credit Risk Committee) quarterly meetings
• Assist with managing the Enterprise Risk Management (ERM) framework to provide independent oversight, ensuring all significant enterprise risks are appropriately identified, managed, measured, monitored and reported
• Prepare materials for the ERC (Enterprise Risk Committee) monthly & quarterly meetings as well as quarterly ERM reports for the board of director package
• Track, operate and manage the Risk Register and Risk Exception/Acceptance processes, ensuring timely tracking of each
• Support risk owners to determine appropriate risk avoidance and mitigation strategies along with contingency plans
• Work with front and back office to ensure financial contracts are captured, valued, and settled accurately
• Experience in the following would be an asset:
  • Perform reporting of risk exposures, positions, and Profit and Loss (P&L) from physical and derivative trading, explaining changes to commercial teams and senior management
  • Model, analyze, and report the day-to-day economics of trading, including exposures, Mark-to-Market (MtM), Value at Risk (VaR), and profit and loss assessments
  • Assist in managing and validating reference data and forward price curves
• Drive continuous improvement of the enterprise critical and principal risk processes
• Perform other related duties as required

Required Skills &Experience:

• 4-7 years in a risk management related role in the energy industry
• Understanding of commodity derivatives and experience with Energy Trading and Risk Management Systems
• Strong understanding of energy markets, physical/financial instruments, deal life cycle, and risk management methodologies
• An understanding of and proven ability to explain VaR, MtM, position, exposure and other Risk Management concepts
• Strong quantitative skills and ability to independently conduct in-depth financial analysis to support credit recommendation
• Professional verbal and written communication skills
• Proven business acumen, attention to detail and a strong commitment to ensuring deadlines are maintained and achieved
• The capability to understand and assess diverse stakeholder interests and drive towards timely and practical solutions
• Advanced proficiency with standard Microsoft applications
• A team-oriented mindset with a willingness to support colleagues and contribute to group goals
• Proficient financial modeling and economic evaluation skills

Education:

• University degree in an analytical discipline such as Finance, Accounting, Economics, or Risk Management and Insurance
• Professional designation (CFA, CPA) or MBA is considered an asset

Our SteelReef team has returned to the office, however, to provide our employees with flexibility, we have implemented a trial hybrid work model where employees have the option to work from home four (4) days per month. Working closelytogether and supporting each otherare fundamental aspectsof our culture and how we work. Connecting in a common workspace is key to helping us reinvigorate our corporate culture and enable more effective communication and collaboration.

All positions require background screening.

This posting will close once a suitable candidate has been found.

Steel Reef thanks all candidates for their interest, however, only those selected for an interview will be contacted.