Senior Director- Risk Management

Payless Power; Fort Worth (TX); On-site; USD 120,000 - 150,000; Full time

Benefits offered by this job

Annual PTO

Annual Performance Review

Annual Compensation Review

Medical, Dental and Vision

Employee Assistance Program (EAP)

Paid maternity leave

Job summary

Young Energy, LLC seeks a Senior Director of Risk Management to lead risk and pricing practices reporting to the Chief Risk Officer. The role drives hedging, pricing models, and compliance with risk policies while coordinating with the RMPC and regulatory attorneys.

Responsibilities include stress testing, horizon planning for seasonal loads, and maintaining software tools to support risk and margin objectives. 15+ years in risk and leadership with utilities is preferred.

Qualifications

• Bachelor’s degree in Finance, Economics, Mathematics, Accounting, Business, Engineering or related field.
• 15+ years of relevant risk management experience.
• Experience with utility providers preferred.
• Leadership experience with executives is required.
• Deep expertise in market, counterparty, liquidity, operational and enterprise risk.

Responsibilities

• Establish risk management plans per RMPC guidance, including hedging and weather considerations.
• Develop a retail price model compliant with risk policies and report monthly hedges.
• Measure and report compliance with risk policy limits and report to RMPC.
• Annually prepare hedging effectiveness reports and stress test positions.
• Maintain weekend coverage during extreme weather and adjust positions accordingly.
• Act as primary presenter at RMPC meetings and coordinate with regulatory attorneys.

Skills

Senior leadership

Risk management

Financial modelling

Regulatory interaction

Education

Bachelor's in Finance/Economics/Math

MBA or MS in Risk Management

Tools

Risk management software

Job description

Location- Fort Worth, Texas 76118 (On-site)

About the job

Role

We're seeking someone to join our team as a Senior Director of Risk Management reporting to the Chief Risk Officer of the Company.

In this role he/she will (a) establish the Company’s retail pricing and risk management practices and procedures according to the strategic direction set forth by the Risk Management and Pricing Committee (RMPC), (b) ensure compliance with Company risk policies and limits, (c) ensure the Company’s software, systems and data analysis tools support Company objectives and department activities and goals, (d) provide leadership and direction to the Assistant Manager – Risk & Analytics, and (e) actively coordinate activities with the Director – Wholesale Supply Management.

Essential Functions & Responsibilities include but are not limited to:

• With direction from the Risk Management and Pricing Committee (RMPC), establish a risk management plan for each summer and winter season.The plan shall be presented and confirmed at a semi-annual best practices RMPC meeting in early November (for the winter plan) and April (for the summer plan).Aspects of the plan should include hedging percentiles, stress-tested load possibilities, consideration for current price environment, and any extended weather outlooks available at the time of the meetings.
• Establish a retail price model and methodology that complies with the risk policies and consider precise underlying wholesale costs.Reporting systems currently include distribution of retail heat rates on the day after every authorized trading day to be included in the Offer Sheet.
• Measure and report on the Company’s compliance with its risk policy limits, including the monthly long or short position, market-based ancillary service obligations and anticipatory hedging if any.Ranges for compliance may aggregate fixed and variable obligations to the extent the underlying customer contracts are priced, and may be modified for monthly targeted percentiles, attrition rates at a standard decay or no decay, and shall include both physical and financial hedges.Reports shall be submitted to the RMPC at its bi-monthly meeting and shall demonstrate compliance with limits established in the current risk management policy.
• Annually prepare a report on the effectiveness of hedging practices and recommend changes.
• Conduct stress testing of the position at least twice annually and make suggestions for how to plan for and react to extreme weather scenarios.
• Maintain weekend coverage in periods of extreme or possible extreme weather events and adjust the position accordingly.
• Measure accuracy of scheduling activities and report on the same.
• Perform other duties and responsibilities as directed by the Chief Risk Officer, or other individuals with authority within the Company.
• Maintain contact with regulatory attorneys and follow regulatory actions that may affect the business.
• Act as primary presenter at each RMPC meeting.
• Calibrate the cash flow model to reflect the best estimate of product revenues, customer count, attrition rates, volumetric sales, wholesale supply purchases and expected gross margin.
• Maintain various software tools used in the business, with assistance from the Chief Risk Officer.Review plans to convert any deficient tools and software to more formal systems, if necessary.

Qualifications Required:

• Bachelor’s degree in Finance, Economics, Mathematics, Accounting, Business, Engineering, advanced degree (MBA or MS in Risk Management) preferred.
• 15+ years of relevant risk management experience
• Experience with utility providers preferred.
• Leadership experience with Executives in the company is a must
• Deep expertise in market, counterpart, liquidity, operational, and enterprise risk
• Experience interacting with regulators and executive management

This job description is not a comprehensive list of all activities, duties, and responsibilities of the position. Such requirements may be expanded or otherwise changed at any time at the discretion of the Chief Risk Officer of the Company.

• Annual Paid Time Off
• Annual Performance Review
• Annual Compensation Review
• Medical, Dental and Vision
• Employee Assistance Program (EAP)
• Paid Maternity Leave

Compensation

The following range considers a wide range of factors, including but not limited to skills, experience, education, licenses, certifications, business needs, and internal equity. An estimate of the current range is $120,000 - $150,000 + annual bonus.

EEO

Young Energy, LLC provides equal employment opportunities (EEO) to all employees and applicants for employment and believes that respect and fair treatment are critical to creating a productive and caring workplace.

As an equal opportunity employer, Young Energy is fully committed to comply with all federal, state, and local laws and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability, pregnancy, genetics, sexual orientation, veteran status, gender identity or expression or any other protected characteristic. The company also complies with pay transparency and labor laws applicable to all terms and conditions of employment.