Senior Risk Officer - Nordic Power

Centalion; Greater London; On-site; GBP 90,000 - 130,000; Full time

Job summary

Centalion is seeking a Risk Officer for the Nordic Power desk to manage daily P&L, positions and risk across financial and physical power products. You will validate curves, reconcile exposures and ensure robust valuation controls in a fast, data-driven environment.

You will collaborate with Trading, Operations, IT, Market Risk, Credit Risk and Finance to enhance reporting, automate processes, and implement new products and controls across Nordic markets.

Qualifications

• University degree in Mathematics, Engineering, Economics or Finance.
• 5+ years in Middle Office or Risk within a commodities trading environment.
• Direct exposure to PPAs and/or BESS transactions is preferred.
• Strong knowledge of Nordic and European power markets (Nord Pool, EPADs).
• Experience in PPA valuation, optionality, shape risk and reserves.

Responsibilities

• Produce and explain daily Nordic power P&L and positions by price area and delivery period.
• Build and monitor Nordic system price, EPAD and forward curves.
• Reconcile pricing exposures with Trading and Operations.
• Monitor MTM, volume and profile risk across physical and structured transactions.
• Own valuation control for structured power transactions including PPAs and optionality.
• Review BESS transactions and valuation methodologies.
• Support reconciliation of physical deliveries and balancing settlements.
• Automate reporting and controls with Excel, VBA, Python and SQL.

Skills

Power markets

P&L management

Valuation controls

VBA

Python

SQL

Nordic markets

PPAs

BESS

Education

University degree in Mathematics, Engineering, Economics or Finance

Tools

Excel

VBA

Python

SQL

Job description

Job Description

The Risk Officer supports the Nordic power desk by ensuring the accuracy and integrity of P&L, positions and exposures across financial and physical power products, including Nordic system price and EPAD futures, Nord Pool day-ahead and intraday markets, bilateral contracts, PPAs, Guarantees of Origin and, where applicable, BESS transactions.

Job Title

Risk Officer - Nordic Power

The Risk Officer supports the Nordic power desk by ensuring the accuracy and integrity of P&L, positions and exposures across financial and physical power products, including Nordic system price and EPAD futures, Nord Pool day-ahead and intraday markets, bilateral contracts, PPAs, Guarantees of Origin and, where applicable, BESS transactions.

The role covers daily P&L and position control, trade and pricing reconciliations, forward curve validation and oversight of structured and optionality-based exposures, including PPA and BESS valuation.

Working closely with Trading, Operations, IT, Market Risk, Credit Risk and Finance, the Risk Officer also supports reporting, automation and continuous improvement of risk and control processes.

Main Responsibilities

• Produce, validate and explain daily Nordic power P&L and positions by price area and delivery period, including key P&L drivers and attribution.


• Build and monitor Nordic system price, EPAD and hourly/15-minute forward curves, ensuring consistency with exchange settlement prices and broker quotations.


• Reconcile pricing exposures with Trading and Operations.


• Reconcile exchange-traded futures and EPADs, as well as Nord Pool day-ahead and intraday transactions, against clearing, auction and settlement statements.


• Monitor mark-to-market (MTM), volume and profile risk across physical and structured transactions, including bilateral contracts and PPAs.


• Own valuation control for structured power transactions, including PPAs, optionality, shaping, volume and imbalance risk, and validation of relevant valuation inputs and reserves.


• Review BESS transactions and valuation methodologies, including dispatch optionality, charge/discharge efficiency, degradation, cycling constraints, availability, state-of-charge assumptions and ancillary-service revenues.


• Support the reconciliation of physical deliveries, imbalance and balancing settlements, fees and Guarantees of Origin, where applicable.


• Apply and document reserving methodologies and independent price verification controls.


• Monitor desk positions, VaR and limits, escalating breaches in line with applicable governance.


• Complete month-end and year-end reconciliations and support the translation of trading results into accounting.


• Work closely with Trading, IT, Trade Support, Operations, Market Risk, Credit Risk and Finance.


• Enhance and automate reporting and control tools using Excel, VBA, Python, SQL and dashboards, as applicable.


• Prepare internal and management reporting and provide backup coverage for other Risk Officers.


• Lead the front-to-back implementation of new products, curves, price areas and trading venues, including control design, testing and documentation.


• Investigate material P&L and valuation issues, drive process improvements and provide technical guidance to less experienced Risk Officers.

Profile

• University degree, preferably in Mathematics, Engineering, Economics, Finance or a related field.


• At least 5 years of Middle Office or Risk experience within a commodities trading environment, with strong knowledge of Nordic and European power markets. Relevant trading, structuring, quantitative or valuation control experience may also be considered.


• Direct exposure to structured PPAs and/or BESS transactions is strongly preferred.


• Strong knowledge of Nordic and European power markets, including Nord Pool day-ahead and intraday markets, Nordic futures and EPADs, price areas, hydro-driven price formation, shaping, profile and balancing risk.


• Demonstrated knowledge of PPA valuation, including intrinsic and extrinsic valuation, optionality, volume and shape risk, imbalance exposure, discounting and valuation reserves.


• Demonstrated knowledge of BESS commercial structures and valuation, including tolling and optimization arrangements, state-of-charge constraints, round-trip efficiency, degradation, cycling limits, ancillary services and merchant revenue stacking.


• Strong understanding of physical and financial power products, ETRM valuation and position models, exchange and clearing processes, market data controls and independent price verification.


• Ability to challenge models and valuation assumptions, explain complex P&L and risk movements, and translate technical analysis into clear management reporting.


• Advanced Excel skills; practical experience with VBA, Python and/or SQL is strongly preferred.


• Demonstrated business analysis and project management skills, including the front-to-back implementation of new products and controls.


• Proactive, self-motivated, rigorous and detail-oriented, with strong verbal and written communication skills.


• Right to work in the country where the role is based.

Our people make all the difference in our success.