Manager, Market Risk

IPX Power USA, LLC; United States; On-site; USD 140,000 - 170,000; Full time

Benefits offered by this job

Unlimited PTO

Parental leave

401k with company match

Home office setup stipend

Wellness and mental health programs

Job summary

IPX Power USA, LLC is seeking a Manager, Market Risk to directly contribute to the risk management processes and tools across the organization. You will quantify, explain, and manage market risks of physical and financial positions while leveraging Python, Google Cloud Platform, and SQL to build analytics and reporting for leadership and investors.

You will collaborate with Origination, Trading, FP&A, and Operations to drive risk-mitigated performance and report to the Director, Market Risk.

Qualifications

• Advanced knowledge of time-series modeling and stochastic processes.
• Practical understanding of VaR, MVaR and CVaR.
• Experience working within ETRM/TCS.
• Experience working on / with trading teams.
• Commercially-minded, understanding the nature of business/revenue generation.
• Solid understanding of US power and gas markets.
• Excellent oral and written communication skills.
• 5+ years of experience in a quantitative role in the energy industry.

Responsibilities

• Lead the ongoing evolution of the Company’s risk management platform, including VaR modeling.
• Champion risk management policies to ensure robust governance and compliance.
• Develop and maintain BI reports to provide insights to key stakeholders including Trading and the Company’s leadership team.
• Perform quantitative analysis of hedge effectiveness on an asset and portfolio basis.
• Document and continuously improve risk controls.

Skills

Time-series modeling

VaR / CVaR

ETRM/TCS

Trading teams

Commercial mindset

US power & gas markets

Communication skills

Quantitative energy experience

Tools

Python

SQL

Google Cloud Platform

ETRM/TCS

Job description

IPX Power, a clean energy company, develops, owns, and operates some of the world’s largest energy resources, delivering affordable, reliable power to utilities and other customers. We are in a rapid growth phase with 4.3 GW of solar PV and 8.8 GWh of battery storage in construction or operation, with more projects under various stages of development.

IPX is a profitable, well capitalized, independent power producer that has delivered billions of dollars of industrial-scale clean energy infrastructure. The company was recently formed as a spin-out of Intersect, as a result of their recent acquisition by Google. IPX is supported by long-standing existing investors TPG Rise Climate, Climate Adaptive Infrastructure, and Greenbelt Capital Partners.

IPX is rooted in a culture of collaboration, creativity, and operational excellence. We are building and operating billions of dollars in assets and seeking people eager to develop, build, and operate one of the world’s largest renewables and storage portfolios.

About this Position:

Our Finance team is hiring a Manager, Market Risk to directly contribute to the risk management processes and tools of the team. The Manager, Market Risk will be primarily responsible for understanding, quantifying, and explaining market risks of IPX Power’s physical and financial positions, and their interactions. The Manager, Market Risk will focus on building and improving risk analytics and reporting, primarily leveraging Python, the Google Cloud Platform and SQL. The Manager, Market Risk will play a significant role in satisfying market risk reporting obligations both to IPX Power’s leadership and investors. The successful candidate will work closely with Origination, Trading, FP&A, and Operations to drive risk-mitigated success of the Company’s market operations, and will report to Director, Market Risk.

Responsibilities and Duties

• Lead the ongoing evolution of the Company’s risk management platform, including VaR modeling
• Champion risk management policies to ensure robust governance and compliance
• Develop and maintain BI reports to provide insights to key stakeholders including Trading and the Company’s leadership team
• Perform quantitative analysis of hedge effectiveness on an asset and portfolio basis
• Document and continuously improve risk controls

Qualifications and Skills

Required:

• Advanced knowledge of time-series modeling and stochastic processes
• Practical understanding of VaR, MVaR and Expected Shortfall / CVaR
• Experience working within ETRM/TCS
• Experience working on / with trading teams
• Commercially-minded, understanding the nature of business/revenue generation
• Solid understanding of US power and gas markets
• Excellent oral and written communication skills
• 5+ years of experience in a quantitative role in the energy industry

Prefered:

• 5+ years experience working in a risk function
• 1-2 years experience managing a risk team

Total Rewards

We care about your well-being, growth, and balance. Here’s how we support you:

Compensation: USD $156,250 (displayed total compensation includes base salary + bonus)Health & Wellness: 100% premium coverage for you and your dependents on medical, dental, and vision
Time to Recharge: Unlimited PTO, plus two company-wide breaks (Fourth of July & end of year)
Family Support: Up to 12 weeks of fully paid parental leave, plus 6 additional weeks for birth parents; access to family planning support via Maven
Mental Health: Free access to Spring Health which includes 5 free Therapy & psychiatry sessions, plus a Headspace account for mindfulness and meditation through our physical health vendor, Wellhub+
Retirement: 3% non-elective employer contribution to your 401k or RRSP, ensuring your financial future is on the right track
Perks & Extras: $150 monthly food stipend, $150 monthly reimbursement for cell phone/ internet, pet insurance allowance, full home office setup and free access to UrbanSitter with $625 in quarterly paid company credits, Wellhub+, Perkspot, and One Medical

IPX Power is committed to maintaining a workplace where all individuals are treated with dignity and respect. We are an equal opportunity employer and do not discriminate against any employee or applicant on the basis of age, ancestry, citizenship, color, family or medical leave status, gender identity or expression, genetic information, immigration status, marital status, medical condition, national origin, physical or mental disability, political affiliation, protected veteran or military status, race, ethnicity, religion, sex (including pregnancy), sexual orientation, or any other characteristic protected under applicable federal, state, or local law.

These principles apply to all aspects of employment, including recruitment, hiring, training, compensation, promotion, benefits, and disciplinary actions.