Risk Management Manager - Join a Leading Company

Oversight of Risk Middle Office with respect to risk control & analysis and providing independent validation of trades. Performs and reports regular credit and market risk valuations on fuel related hedge transactions and maintains an independent record of these trades and the associated price curves.  Also performs trade confirmations & contract management in relation to fuel hedge trade derivatives, electricity settlements, and gas settlements.  In addition, coordinates a Business Process Review initiative that documents and benchmarks the structure and rigor of business processes.  Establishes the foundation on which the organization can understand its risk exposure and make prudent decisions.

Responsibilities

1) Structure and develop risk framework for the organization to optimize business activities

• Ownership of Counterparty Risk methodology
• Ownership of Market Risk MTM (MTM@Risk) methodology
• Ownership of Retail Fixed Price Credit Framework methodology
• Ownership of INCOME framework 
  • Includes 389 control activities spread across multiple functions including Commercial, Finance, Asset Management, Retail.
• Ownership of ERM framework

2) Independent source of documentation and valuation for fuel hedge related derivative trades in relation to calculation of counterparty credit risk 

• Trade entry management and validation of fuel hedge related derivatives
• Daily valuation and reporting of counterparty derivative positions
• Oversee counterparty risk vs exposure limits framework
• Price curve creation and validation, including HSFO, Dated Brent, FX, and discount curves

3) Oversight of Fuel Hedging & Procurement, and Portfolio Management activities

• Control of hedge trade activities
• Ensure that FH&P and PM adhere to stated policies and procedures
• Countercheck variables and data used in report & model generation to ensure robust decision making
• Daily monitoring of in-house Vesting hedge exposures vs limits
• Weekly monitoring of market risk exposures vs limits, via validation of demand, supply, hedge deals and adjustments to the Deal Capture template, and subsequent calculation of market risk exposure

4) Calculation of market risk positions for position monitoring vs limits

• Independent weekly calculation of portfolio market risk exposures, and position monitoring with respect to the market risk limits defined

5) Middle Office functions of independent trade confirmations & contract management for fuel hedge related derivative trades

• Independent verification of fuel hedge related derivative trade confirmations
• Trade documentation of fuel hedge related derivative trades

6) Middle Office functions of independent trade validation and settlement of electricity and gas trades

• Independent trade validation and settlement of electricity trade invoices
• Independent trade validation and settlement of gas invoices, across all 3 gas suppliers (Petronas, GSPL & BG) 
• Trade documentation of all the above validations and settlements

7) Monthly reporting of derivative positions for settlement and accounting

• Independent valuation and reporting of fuel hedge related derivative trades for month end settlement and accounting
• Independent valuation and reporting of interest rate swap positions for monthly reporting
• Calculation of hedge effectiveness for portfolio of interest rate swaps

8) Oversight of Retail credit risk framework

• Maintains database of credit bureau reports (DPInfo)
• Provides daily template for Retail to perform pre-trade validation with respect to credit limits for the prospective customer
• Provide credit analysis for customers applying for exceptions to the credit framework

9) Ancillary Risk Middle Office activities

• Shareholder reporting (including sensitivity analysis, position and exposure reporting)
• Hedge accounting reporting (provision of current vs non current MtM valuation)
• Counterparty management, including coordination of new counterparty applications, ISDA negotiations, analysis of suitability, Board paper approval, and subsequent maintenance of counterparty data

Requirements

• Degree in Business/Economics/Engineering/Maths
• Min 5 yrs work experience
• Min 2 yrs in managerial position
• Risk related experience with respect to market, credit, FX and enterprise risks
• Middle office (trade confirmation & contract management) experience 
• Excellent interpersonal and communication skills
• Strong leadership and creativity in resolving issues