Energy Risk Professional

  • Octopus Energy
  • Houston, TX
  • Oct 13, 2021

Job Description

Welcome to the future of energyWe’re a leading energy technology company providing a better experience for our customers through transparency, honesty and simplicity. Better for the planet, through real long-term investment in renewable generation and a low CO2 future and better for our customer’s wallets with fair and affordable plans. Through our proprietary platform and custom-built stack, cloud-based billing, and sophisticated use of data science, we’re revolutionizing what’s possible in energy. We’re transforming the way people interact with their energy company, by making it approachable, easy-to-understand, and most importantly, 100% renewable. We’ve distinguished ourselves by being named 2020’s Energy Provider of the Year, which highlights our commitment to exceptional customer service. We’ve just hopped across the pond in the US and are making big strides in Texas...but that’s only the beginning. Come join our rapidly growing team as we continue to break barriers in energy. Wholesale electricity makes up both our largest cost but also our most volatile. At the same time, the growth of renewables and smart access to data provides a lot of opportunities. This is an exciting opportunity to build a key function, both to enable Octopus to rapidly grow its customer base but also to innovate and participate in the drive to net zero.

What You'll Do

  • Accountable for accurate and complete management of all short and long-term wholesale risks.
  • Continually observe and make improvement recommendations on the appropriate risk approach as the business grows and the market evolves. Present clear recommendations to key stakeholders (both within Octopus Energy US and the wider Octopus Energy group) for approval.
  • Ensure that approved amendments are clearly captured in the risk policy.
  • Calculate and execute trades to ensure compliance with risk policy.
  • Continuously monitor short-term markets and trade execution to ensure that positions are sufficiently covered.
  • Report on VaR under a range of outlooks (winter storms/summer heatwaves / etc).
  • Work with Data Science team to develop demand forecasts and monitor accuracy.
  • Make proposals on generation, flexibility, or DSR initiatives that will support risk management and innovative ways to deliver genuine renewable supply.
  • Continuously challenge processes and deliver improvement/automation, or spec improvements/automation for delivery by the Tech team.
  • Develop REC hedging strategy

What You'll Have

  • Experience working in an Electricity supply market (ERCOT experience would be advantageous)
  • Very bright, highly numerate, ability to handle multidimensional concepts
  • Experience with Python and SQL
  • Experience managing and reporting on financial risk
  • Strong analytical skills coupled with an ability to think strategically
  • Excellent verbal and written communication skills
  • Flexibility to grow and adapt as the business grows
  • Able to challenge with empathy and support as required at times as we develop the business
  • Comfortable with some ambiguity (our world is changing fast)

Why Else You'll Love It Here

  • Great medical, dental, and vision insurance options including FSAs.
  • Unlimited paid time off — we know working hard means also being able to recharge as needed, we trust our employees to get the work done and take the time they need.
  • 401(k) plan with employer match.
  • Parental leave. Biological, adoptive and foster parents are all eligible.
  • Pre-tax commuter benefits.
  • Flexible working environment: you need to shift around your schedule? You do you, we genuinely believe in work/life balance.
  • Equity Options: every Octopus employee owns part of the business. We’re a team, working together towards huge goals. Every person is crucial to our success, you should be rewarded as such.
  • Modern office or co-working spaces depending on location.

If this all sounds like you then we'd love to hear from you. At Octopus, we're looking for genuinely decent people who are honest and empathetic. Our commitment is to provide equal opportunities, a diverse and inclusive work environment, and fairness for everyone. You are welcome to apply no matter your race, gender identity, sexuality, age, family or civil status, disability, religion, or ethnicity.

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