What are the responsibilities and job description for the Director, Risk Management position at AES Corporation?
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We are looking for a Director of Risk Management, this is a multi-faceted role focused on helping our US Renewables business grow in a responsible way by anticipating new and emerging risks, and using your expert level skills to solve challenges that impact our company, community, and customers. This role will report to the VP of Market Strategy and Risk and will lead a team of ten risk professionals in market risk management, enterprise risk management, and overall risk governance for AES' US renewable asset portfolio. This position will work closely with various functional teams across the AES Clean Energy organization and will play a significant role in the business' buildout, operation, and future growth.
Principal Duties and Responsibilities:
- Lead and manage the quantitative risk, credit, governance, and insurance functions within the US Renewables Risk Management Team.
- Leadership of a team risk professionals including goal setting, performance monitoring, coaching, prioritization, and all other people manager requirements.
- Governance of the US Renewables Risk Management Committee and ensure efficient and effective transaction approval.
- Work hand in hand with Commercial, Development, and the Corporate Risk Team to support business growth and new commercial activities.
- Provide clear guidance and oversight of:
- Transaction impacts to Market Risk (VaR, Position Limits, Stress Testing)
- Counterparty credit review, monitoring, and approval
- Working capital and cash exposure (MPE, PFE)
- Enterprise risk management (Market, Operational, and Financial Risks)
- Project and warehouse insurance management
- Provide constructive challenge to trading, development, and M&A activity to ensure compliance with policy and all activity is aligned with the intended strategy.
- Deliver reporting and analytics that provide insights into AES' renewable asset portfolio.
Qualifications:
- 7-10 years of relevant experience within Commercial or Risk Management within the US power markets
- Experience leading a team of 5 team members.
- Bachelor's degree or equivalent experience in Finance, Economics, Math, Engineering, or Sciences.
- Understanding of market risk management and portfolio theory, principles, and measurement concepts including Value-at-Risk, Cash Flow-at-Risk, stress reporting, and other risk measures including Back Testing analysis.
- Understanding of maximum potential exposure and potential future exposure as it relates to commodity hedging and interest rate hedging activities.
- Understanding of counterparty credit and creditworthiness assessment
- Understanding of Enterprise Risk Management frameworks
- Reporting/analytics capability and experience with ETRM systems in general are essential.
- Great teammate and eager to learn and teach in partnership with other team members.
- Able to grasp and communicate complex models and transactions in simple terms to a non-technical audience.
- Self motivated with the intellectual curiosity to read interpret and maintain knowledge of constantly evolving market fundamentals.
- Self-directed with the ability to work well under tight deadlines.