Head Market Risk Advisory Australia

Shell Trading supports the Shell businesses by trading natural gas, electricity, LNG, crude oil, refined products, biofuels, chemical feedstocks, environmental products and freight.

This role will focus on Shell's Gas, Power, and Environmental Certificates trading in Australia. The role reports into the Global Head of Energy Market Risk (within Shell Trading, "Energy" includes gas, power, and environmental products trading).

• What's the role?

The Head of Market Risk - Australia ("HMR-Au") is responsible for leading a team independent of the commercial business and responsible for portfolio valuation, risk measurement, and objective assessment of risk / reward for existing portfolio strategies as well as proposed large transactions. In order to accomplish this, the team will need to have a variety of capabilities including (but not limited to) a strong understanding of the following : statistical analysis techniques, long term curve modeling and validation techniques, option modeling, market fundamentals, portfolio management methodologies in different liquidity environments, risk mitigation strategies, accounting rules, process controls, and ETRM management. The HMR-Au must have excellent communication skills as the function sits in a virtual "hub" of the organization and must effectively coordinate with many other teams, including commercial, finance, accounting and reporting, IT, offshore support, legal, tax, and internal audit. Additionally, the HMR-Au will play a key role in working with Shell's external auditors and, from time to time, local regulatory agencies.

There is a significant Market Risk Transformation programme underway and this role will play a significant part in developing and implementing changes to analytics, assurance templates, risk policy, reporting, governance and engagement, infrastructure, automation, and staff development,

The role will provide risk assessments and insights to senior management while collaborating with and providing market specific information and advice to others in global Finance and Risk Management. The Energy Market Risk Team provides an independent view to help improve Shell's risk / reward analysis in service of making optimal decisions.

The role will manage a medium sized team of 5 professionals and will be proactive about right sizing the group to align with commercial growth aspirations by informing Risk leadership about necessary headcount changes as far in the future as reasonably possible to ensure that existing staff are not overloaded.

More specifically, your responsibilities include the following :

• Interact with and provide Market Risk advice and insight on the level of risk / return in the business to senior commercial, risk, and finance colleagues.
• Assess new deals and proposed transactions for a wide range of renewable and traditional power and gas related contracts to ensure that the commercial teams have identified and priced associated risks.
• Work with the Valuation and Quantitative Analytics teams to understand, assess and model market risks including embedded physical optionality and optimization of physical portfolios changes exposures.
• Ensure that all market risk exposures generated are fully understood and that the risk associated with market risk exposures are properly evaluated and communicated to the appropriate stakeholders.
• Assist in limit setting & monitoring of the gas and power businesses, but equally play a key role in limit setting globally across the Trading and Supply business.
• Drive understanding of the design and utilization of methodologies to assess risk / reward of the portfolio, including VaR back-testing, stress testing, scenario analysis, liquidity analysis.
• Understand and explain changes in VaR by breaking down the impact by its underlying drivers and ensuring that the VaR accurately reflects the positions taken and volatility of the relevant market.
• Ensure that all trading activities remain within mandated limits and escalate appropriately if they are exceeded.
• Limited travel (2-3 weeks per year at most)
• What we need from you

To succeed in this role, you will have :

• Passion for the Energy Transformation and an implicit understanding of the critical role that trading plays within it
• Relevant workplace experience in the Australian power and gas trading market.
• Degree in Economics, Mathematics, Science, Engineering, or Business is preferred, but other degrees will be considered.
• Thorough understanding of the financial and physical natural gas, power, and carbon markets including derivative instruments and hedging techniques.
• In depth knowledge of the infrastructure of the energy trading and supply industry such as gas fields, pipelines, power plants, power grids, energy users.
• Experience modeling power plants and other complex structures in the power market would be a plus.
• An understanding of the fundamental economics and pri