Operational Risk Analyst

Location - Bristol / London / Glasgow / remote working

We’re making zero carbon happen

We’re OVO Group, a big family of companies united by a single vision: to get to zero carbon, fast. 

We call this Plan Zero – and it shows how we’ll be fighting the climate crisis and transforming the way people use energy over the next decade. To do this, we need the sharpest minds. Are you up for the challenge?

Do great green things with OVO Energy

So much has changed since we launched in 2009.  Our goal remains the same though: make energy cheaper, greener, and simpler. Just as it was on day one.

Everyone belongs at OVO

Our aim is to build a diverse and inclusive movement: teams of brilliant people, with unique talents, skills, passions, and experiences. 

We encourage everyone to join us, whatever your gender identity, race, ethnicity, sexual orientation, age, life experience, or background. So please come as you are – we can’t wait to meet you.

Where in the world of OVO will I be working?

As part of the Energy function, this role sits within the Middle Office team, which has an additional reporting line into the Group Risk function. Reporting to the Head of Middle Office, the role holder will support the development and operation of robust second line or middle office policies, processes and controls to ensure that the key risks to OVO profitability are being effectively managed by the Energy function. With annual wholesale costs in excess of £7.0bn in 2022, it is critical that our wholesale trading activities are effectively managed and monitored and that we have robust systems and business processes in place to achieve this.

What will I be doing?

With a clear understanding of energy trading operations and wholesale energy market risks, you will be responsible for ensuring that robust controls exist and are operated effectively to support the delivery of risk management strategies in line with our agreed risk policy and limits. You will be working closely with teams across the Energy function and wider business to ensure that key internal stakeholders have a clear understanding of the opportunities and risks associated with Wholesale Energy Trading, and the risk management activities and processes across the Energy function.

Key responsibilities will include but are not limited to:-

Responsibilities: 

• Coordinate with stakeholders and ensure the business is operating in a controlled manner.
• Facilitate continued improvement in processes, controls and operational risk awareness.
• Develop business partnerships and provide advice to the business on a wide range of operational risk matters.
• Assess new products and business initiatives for compliance with operational risk best practices.
• Conduct root cause analysis on risk events recommending and agreeing actions with the risk owners to reduce the likelihood of future events.
• Lead operational risk review workshops providing constructive challenge to risk owners to ensure that risks are identified and assessed appropriately.
• Follow up on proposed remedial action plans to ensure improvements are delivered.
• Prepare/ collate operational risk reports and committee materials around operational process KPIs.
• Own and coordinate the update of an “Operational Risk Register” that identifies risks across all key processes and captures the agreed action plans to mitigate these risks
• Coordinate the mapping of core processes and controls and the identification of potential improvements
• Lead and/or support ad hoc process improvement projects as required

Is this the job for me?

Ideally you will have:

• Energy, Financial Services, Banking or Consultancy experience considered.
• Business knowledge gained in Risk Management, Trading, Finance or Audit considered.
• Experience in dealing with change projects and/ or building delivering new capabilities.
• Experience of liaising across diverse stakeholder groups.
• Solid understanding of Trading Financial or Physical products.
• Strong verbal and written communication skills.
• Flexibility; willing to contribute on a range of work aspects.
• Ability to manage complexity with proven experience meeting delivery deadlines.
• Ability to influence and communicate with people at all levels and be able to take complex ideas and communicate them simply.
• You will be well organised, structured in approach and be able to operate effectively in challenging situations.
• You will be resilient in character with strong ethical values and a desire to get it right.

Beneficial:

• Experience of developing and enhancing risk control frameworks.
• Ability to learn quickly in order to develop a detailed understanding of current models and processes, the energy market and our wholesale energy trading activities.
• Strong analytical and data manipulation skills.

Brilliant benefits for a world-changing team

Our people are at the heart of Plan Zero. That’s why we offer plenty of green benefits and progressive policies to make you feel at home.

For starters, you’ll get 34 days of holiday (including bank holidays).

Then there’s Flex Pay. It’s an extra 9% of your salary on top of your core pay to use as you like. You can take it as cash, add to your pension, or choose to spend it on a huge range of flex benefits.

Here’s a taster of what’s on offer:

For your health
With benefits like a healthcare cash plan or private medical insurance depending on your career level, critical illness cover, life assurance, health assessments, and more

For your wellbeing
With gym membership, gadget, travel and cyber insurance, workplace ISA, will writing services, DNA testing, dental insurance, and more

For your lifestyle
With extra holiday buying, discount dining, culture cards, tech loans, and supporting your favourite charities with give-as-you-earn donations

For your home 
Get up to £300 off any OVO Energy plan (when you pay by Direct Debit), plus personal carbon offsetting and great discounts on smart thermostats and EV chargers

For your commute
Nab a great deal on ultra-low emission car leasing, plus our cycle to work scheme and public transport season ticket loans 

Want to hear about our full range of flexible benefits and progressive people policies? Our People Team can tell you everything you need to know.

Oh, and one last thing...

We’d be thrilled if you tick off all our boxes yet we also believe it’s just as important we tick off all of yours. And if you think you have most of what we’re looking for but not every single thing, go ahead and hit apply. We’d still love to hear from you!