Market Risk Manager

JERA Trading Pte Ltd.; Houston (TX); On-site; USD 180,000 - 240,000; Full time

Job summary

JERAGM, based in Houston, seeks a senior Market Risk Manager to lead the Market Risk team. You will design risk controls, run quantitative analyses, and partner with Front Office and Global Risk teams to ensure robust risk governance.

The role requires broad energy trading experience and leadership across cross-functional teams. You will drive risk infrastructure enhancements and model validation, while mentoring junior staff and coordinating with London and Singapore counterparts to deliver

Qualifications

• Minimum 15 years of relevant market risk experience.
• Experience in energy/commodity trading or Tier-1 investment bank.
• Graduate qualification in Mathematics/Statistics/Engineering/Finance or equivalent.
• Post-graduate qualification in relevant quantitative field preferred.
• Knowledge of Value-at-Risk, scenario analysis, back testing, stress testing, and expected shortfall.
• Knowledge of risk for physical commodities and volatil/real option portfolios.
• Proficient in Excel, VBA and Python.
• Derivatives valuation and quantitative risk modelling experience valued, including gas storage/swing models.

Responsibilities

• Oversee the Market Risk activities in the Houston office and prepare daily, weekly, and monthly risk reports (VaR, Greeks, stress tests, risk capital).
• Lead development and implementation of a holistic risk control framework for market risk.
• Collaborate with Commercial/Front Office, Middle Office, Credit Risk, Internal Control, Legal and other functions across locations.
• Support NBC preparation and new business activity risk assessment.
• Mentor and develop Market Risk analysts in the Houston team.
• Coordinate with Market Risk teams in London and Singapore for global risk governance and consolidation.

Skills

Market risk management

Energy/commodity trading

VaR & stress testing

Python

Excel/VBA

Leadership

Communication

Education

Bachelor's in Math/Stats/Engineering/Finance

Postgraduate qualification

Tools

EKA

Allegro

FEA

Topaz

Endur

Power BI

Matlab

SQL

Job description

The JERA Global Markets Group (JERAGM) is a leading utility-backed energy trader specialising in LNG, power, coal and freight.

As JERA’s exclusive trading and optimisation platform for majority shareholder, JERAGM operates one of the most exciting energy portfolios in the world, which gives it an in-depth understanding of the way local, regional and international energy markets behave. This expertise enables us to capture trading opportunities, optimise portfolios, create value and enhance security of supply for our customers.

Headquartered in Singapore, JERAGM has a global talent pool of about 400 people across offices located in five strategic locations: Singapore, the UK (London), Japan (Tokyo), the US (Houston) and Australia (Brisbane).

Position Description

This role forms part of JERA's growing North American Gas Trading business, which is expected to transition onto JERAGM’s trading platform. This business is wholly owned by JERA Co., Inc. and will focus on US natural gas trading, optimisation and market development across North America. Successful candidates will join during the build-out phase ahead of the business's planned operational launch.

The Manager, Market Risk, reporting into the Head of Risk, based in Houston, will lead the Market Risk team, supporting the business in all key market risk management matters affecting the organisation.

The Market Risk team in the Houston office is a part of the Middle Office Function in Houston office and is responsible for the design and implementation of suitable market risk control frameworks and providing both quantitative and qualitative market risk analysis and risk control solutions to support effective risk management and business decision making.

This is a key leadership role for risk and control within JERAGM: in addition to the Market Risk-specific coverage, the Manager, Market Risk will contribute to broader risk management initiatives across the organisation. You will partner with the Middle Office Function, as well as the broader Supporting Functions, to ensure that the Risk Control Framework is effective and to continuously improve its efficiency and scale, ensure the risk framework aligns with JERAGM's broader governance and risk management objectives Strong collaboration and stakeholder engagement skills are essential. The role will involve close liaison with Credit Risk, Internal Audit and Product Control teams and require interaction across the business to maintain a firm control culture.

The role will also require close collaboration with the Market Risk teams in London and Singapore to support global risk consolidation, ensure consistency in risk governance and reporting, and contribute to the development of a cohesive global Market Risk function.

The successful candidate will play a key role in driving risk infrastructure enhancements, model governance initiatives, and strategic risk transformation projects across the organisation.

The position will be located in Houston office. The Manager, Market Risk in Houston office will report into the Senior Manager, Market Risk in JERAGM, who is based in London, and indirectly into the Head of Risk, in Houston office, based in Houston, and will involve the management and mentoring of Market Risk analyst.

Key Responsibilities include but are not limited to:

• Overseeing the Market Risk team in Houston office, this role will be responsible for:
• As a leader in the risk control team, you will oversee all market risk activities, including the preparation of daily, weekly and monthly market risk reports, including but not limited to Value at Risk (VaR), sensitivities (the Greeks), stress testing, risk capital calculations, etc.
• Support and contribute to the identification of new risks within the portfolio and any new business activities.
• Analyse and quantify the market risk of the portfolio in Houston office, across the US business units, trading books and products/instruments.
• Prepare analysis, as directed by the Senior Manager, Market Risk in JERAGM and/or Head of Risk in Houston office, for consideration by the Market Risk Committee and/or New Business Committee (NBC).
• Leading the Market Risk Team in Houston office, you will oversee the resourcing of the market risk activities and processes. The ability to manage, train / develop, coach and mentor the more junior members of the Market Risk Team in Houston office will be critical.
• Working with the Risk teams across the JERAGM Group, this role will driving and facilitating the set-up of new business activities, including overseeing the Market Risk Team's contribution to the NBC preparation.
• Contribute to the design and implementation of a holistic risk control framework, with a focus on market risk.
• Support a risk-conscious culture and promote better-practice controls with the organisation through engagement and interaction with the commercial and control teams, across our global trading locations.
• Work closely with and support the Quant / Model & Valuations Team in the validation and development of risk and valuation models, including system testing and optimisation.
• Support the broader digitalisation and transformation initiatives, looking at our risk technology, data and data flows, and at automation and digitalisation opportunities across our business and risk landscape.
• Promote a culture of continuous improvement by leading, modelling and engaging in constructive challenge of existing processes. This includes looking at processes within the Market Risk Team, as well as shared processes and interfaces, collaboration and integration with Middle Office and Supporting Function teams.
• Key liaison with Commercial / Front Office, Middle Office Functions (Product Control, Credit Risk, Internal Control, Legal, Compliance & Contracts, Treasury, etc.) across the JERAGM Group and Shareholder departments.

Key Qualifications and Experience

Experience

• A minimum of 15 years of relevant market risk experience
• A background in risk management within an energy or commodity trading company, or Tier-1 investment bank.
• Ideally a graduate qualification in any or a combination of the following subject areas: Mathematics / Statistics, Econometrics, Physics, Chemistry, Engineering, Finance, Computing and Business, or equivalent.
• Ideally a post-graduate qualification in any or a combination of the following subject areas: Mathematics / Statistics, Chemistry, Physics, Engineering, Actuarial Sciences, Quantitative Finance or Financial Engineering, Econometrics, Business Administration, or equivalent.
• Detailed knowledge of Value-at-Risk, scenario analysis, back testing / stress testing, expected shortfall, and other market risk techniques.
• Knowledge of the market risk associated with physical commodities, traded and real option portfolios.
• Exposure to both physical and financial energy markets.
• Proficient in Microsoft Office products including Excel, VBA and Python.
• Knowledge of EKA, Allegro, FEA, Topaz, Endur, Power BI, Matlab, SQL or other data analytics or quantitative analytics packages may be useful.
• Derivatives valuation, pricing and quantitative risk modelling experience highly valued, including gas storage and swing models

Person Specification

• Excellent analytical skills and a focus on accuracy and precision.
• Strong written and verbal communication with ability to present quantitative analysis to all audiences.
• Ability to leverage relationships to influence without authority and add value to risk information.
• Respectful, collaborative / easy to work with and dependable.
• Proactive with the ability to thrive in a team environment under often disparate and conflicting pressures.
• Able to work independently with limited direction as well as within and across teams.

This role offers an excellent opportunity to lead, and further apply and develop skills and responsibility within a growing and successful commodity trading business.