Market Risk Analyst

Job Description

Where you fit inShell Energy is at the heart of delivering Shell’s ambition to become a world-class investment case that powers progress by providing a diverse array of cleaner energy solutions. Shell Energy is an exciting, fast-moving business – and a key driver in beingable to fulfil that ambition.We are hiring experienced Market Risk Analysts who will support the Shell Energy growth ambitions. We are interested in attracting candidates who share our core working values of honesty, integrity and respect for others, with the ability to achieve greatresults through teamwork and who can generate creative solutions to problems.As a Market Risk Analyst, you will provide daily performance and risk analysis for the traders and senior stakeholders, ensuring key risks are transparent. In addition, you will collaborate closely with front office and other finance functions in the supportof commercial activities, such as new market entries and deal valuation/recognition. The successful candidate will be expected to provide risk management expertise in complex areas and should be able to manage their own work with limited supervision.Candidates will be expected to take the lead/assist on Market Risk matters (e.g. new deals, fair economic value assessments), whilst providing support and guidance to other members of the Market Risk team.What’s the role We are recruiting for Market Risk Analysts across a number of commodity lines: Gas Trading, Power Trading, Environmental Products Trading, Renewables and Energy Solutions (R&ES).As a Market Risk Analyst, you will have several key responsibilities which will include:

• Develop a close relationship with the European trading business to support new deals and appraise trading activities to ensure mandated exposure and risk limits are adhered to
• Market Risk focal point for front-office and senior stakeholder queries
• Lead the execution of key controls for the business area and collaborate with other functions to ensure continuous improvement of controls/processes
• Act as a representative for Market Risk on a number of strategic projects
• Develop tools for on-going portfolio reviews and produce “deep dive” analysis for senior management
• Drive understanding of the design and utilization of methodologies to assess risk/reward of the portfolio, including: VaR back-testing, stress testing, scenario analysis
• Provide Market Risk input on new and group business proposals. Assess the risks associated with structured deals and the valuation models used for physical/financial trading and hedging, at times building out models to calibrate performance of such deals.Where applicable, provide peer review and challenge to deal proposals for other T&S businesses
• Develop and refine the fair economic valuation approach and provide steer on usage of market risk reserves
• Collaborate with other support functions (e.g. Finance, Technical Accounting) for deal support and general portfolio queries
• Support internal/external audit requirements

We are hiring Market Risk Analysts with proven experience in at least one of the following commodity areas:Market Risk: Power Trading

• Experience of non-linear products (e.g. CSS), tolling agreements, renewable power PPAs (wind, solar, batteries), capacity, and certificates (GoOs, REGOs)
• Experience of monitoring/reporting shape and imbalance risk
• European power market fundamentals knowledge and cross-commodity awareness (e.g. gas, carbon, coal)

Market Risk: Gas Trading

• Experience of long-term gas transactions: modelling contractual flexibility, price reviews, ACQ/MCQ, as-produced off-take profiles
• Experience of non-linear products (e.g. physical/financial options), gas transportation, capacity agreements, storage modelling, and renewable certificates
• Gas market fundamentals knowledge and cross-commodity awareness (e.g. power, carbon, LNG, Crude)

Market Risk: Environmental Products Trading

• Experience of cap-and-trade compliance instruments (e.g. UKAs, EUAs, CCAs) and a good understanding of the interdependencies with other commodity asset classes (e.g. gas, power)
• Experience/knowledge of the voluntary carbon markets and associated standards (e.g. VCS, Gold Standard, REDD+)
• Working experience of long-term deals, structured off-takes and option structures

Market Risk: Renewables & Energy Solutions

• Experience of B2B and B2C energy markets, an advanced grasp of supply risk dynamics, deal structures, demand forecasting, stress testing, scenario analysis, P&L and exposure reporting

and/or

• Appraising risks associated with long-term structured positions in the power markets, and modelling of long-term risks
• Experience of renewable energy sources: solar, wind, batteries, hydro, biomass; and a deep understanding of the longer-term demand/supply side fundamentals

What we need from youWe’re keen to see as many of the following attributes on your CV:

• Siginificant Market risk experience with a good understanding of market risk fundamentals (P&L, exposure, VaR, stress testing)
• Degree in mathematics, economics, engineering, business/commerce or a related field
• Competent in assessing trading valuations, including building and validating new models as needed (e.g. Python)
• Ability to multi-task with a high level of attention to detail and accuracy
• Understanding of Fair Value and derivative recognition concepts
• Aligne ETRM knowledge preferred, but not essential
• Strong business analysis, modelling, and problem-solving skills
• Technologically oriented; a good understanding of the Microsoft suite of products: Excel, Power Point, Word, Power BI
• Ability to perform under rigid deadlines and time pressured environments
• A self-motivated team player, who can work remotely as part of a wider global team
• Capable of applied creativity and problem-solving
• A strong communicator and team player
• A broad and agile thinker, with outstanding interpersonal skills that builds trust and credibility

If you dont see yourself fully reflected in every job requirement listed on the posting above, we still encourage you to reach out and apply. Research has shown that not everyone often applies when they do not feel 100% qualified. We are committed to creatinga more equitable, inclusive, and diverse company and we strongly encourage applicants of all genders, ages, ethnicities, cultures, abilities, sexual orientation, and life experiences to apply. We look forward to receiving y