Senior Risk Manager (Power Trading)

Our client, a well-established global hedge fund is seeking a Senior Risk Manager to be base in Sydney, Australia with deep expertise in Power Trading within the Australia (NEM) market to support and challenge portfolio managers across the Global Macro platform.

Reporting to: Head of Risk & Treasury

Key Responsibilities:

1. Oversee risk across Power and Gas Trading portfolios, with a core focus on the Australia National Electricity Market (NEM)
2. Identify, assess, and communicate key risks including market, credit, liquidity, tail risk, and optionality/convexity exposures
3. Partner closely with Portfolio Managers (focusing on Power Trading) to ensure risk-taking is efficient through robust risk limits, guidelines, and challenge frameworks
4. Develop and enhance VaR, stress testing, and scenario analysis frameworks, with specific application to power markets (e.g., price spikes, weather events, outages)
5. Monitor and analyze nodal/regional power exposures, interconnectors, and volatility dynamics within the Australian market
6. Build and maintain frameworks for capital allocation and portfolio construction to optimize risk-adjusted returns
7. Provide ongoing risk insights through regular reporting, deep-dive analysis, and risk reviews with senior stakeholders
8. Lead research initiatives to improve risk models, analytics, and tools, particularly for energy trading strategies
9. Enhance performance attribution frameworks to better explain P&L drivers across power trading strategies
10. Collaborate with global risk teams to ensure consistency in market risk oversight across Macro businesses

Requirements:

1. 12+ years of experience in Risk Management or Trading within Power / Energy markets, with strong preference for Australia NEM experience
2. Deep understanding of power market structure, including generation mix, demand drivers, transmission constraints, and pricing dynamics
3. Strong knowledge of energy derivatives, hedging strategies, and risk sensitivities (Greeks, optionality, structured products)
4. Proven experience in risk frameworks including VaR, stress testing, and exposure aggregation in a trading environment
5. Monitor and manage exposure across spot and hedged positions, with a deep understanding of power price volatility
6. Assess and structure hedging strategies using futures, swaps, and options, including cap products
7. Evaluate and manage optionality in the portfolio, including cap contracts and FCAS revenue stacking opportunities
8. Provide risk oversight on participation in ancillary and system services markets (e.g., frequency response and reserve mechanisms)
9. Produce risk metrics, stress testing, and scenario analysis to inform trading decisions
10. Collaborate with front office to optimize risk-adjusted returns while maintaining governance standards
11. Proficiency in SQL and quantitative programming (Python, R, or MATLAB), with experience handling large datasets
12. Strong analytical mindset with the ability to translate complex risk concepts into actionable insights
13. Excellent stakeholder management skills, with experience working closely with traders and senior portfolio managers
14. Ability to operate in a fast-paced, high-performance environment, managing multiple priorities effectively
15. Proactive, solutions-oriented mindset with a continuous improvement approach

Preferred Qualifications:

1. Prior experience covering APAC power markets, particularly Australia
2. Familiarity with renewables, grid dynamics, and weather-driven trading strategies
3. Experience in building or enhancing risk systems and automation tools
4. Demonstrated leadership or mentoring experience

Please email your cv directly in word format with job reference no. 000016463 to [email protected]

Please note that due to the high number of applications only shortlisted candidates will be contacted. If you do not hear from us in the next 5 business days, we regret to inform you that your application for this position was unsuccessful.

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Recruiter Licence: R22104669