Manager, Commodity Risk and Analytics

Highlights of the job

EPCOR’s Commodity Risk Management team has a Full-Time Permanent opportunity for a Manager, Commodity Risk and Analytics working out of our Calgary or Edmonton office. This opportunity is open to Internal and External candidates. Current EPCOR Employees, please ensure that you are using your “@epcor.com” email address.

The Manager, Commodity Risk and Analytics is accountable for the day-to-day independent oversight of EPCOR’s Supply and Energy (Natural Gas & Electricity) procurement activities. This includes ensuring compliance with risk policy, generating comprehensive risk reports, and providing ongoing, proactive guidance to the Middle and Front Office staff. This role requires a deep understanding of commodity markets and the ability to anticipate and mitigate potential risks effectively.

As this is a new role at EPCOR, the successful candidate will be responsible for setting up the commodity risk function and building a high-performing team. Reporting to the Senior Manager, Risk Management, this position will lead a team of professionals dedicated to conducting thorough risk assessments, detailed data analysis, and strategic development. The Manager will also be responsible for preparing regular reports on commodity risk exposure and performance, ensuring all activities comply with relevant regulations and internal policies. Collaboration with other departments, such as finance, operations, and regulatory affairs, is essential to align risk management strategies with EPCOR’s overall business objectives.

This position is eligible to participate in EPCOR’s Where We Work hybrid program depending on business needs and upon meeting the eligibility requirements!

What you’d be responsible for

Strategy Development & Function Set-up:

• Participating in developing and implementing strategic plans and directions for the Commodity Risk Management function while ensuring alignment with overall EPCOR Utilities Inc. (EUI) overall corporate strategy.
• Driving strategic innovation by identifying and promoting new strategies, processes, and tools that can enhance EPCOR’s commodity trading and procurement activities promotes effective positioning and relationships within the Commodities team and the rest of EUI.
• Establish the Commodity Risk & Analytics function from the ground up including defining its mission critical goals, processes, teams’ skill set required to drive high performance and achieve results

Commodity Market Research & Data Analytics:

• Conducting research on market conditions, competitor activities, and emerging trends to inform risk management strategies.
• Analyzing data and trends for the commodities market to provide insights and support decision-making processes.
• Overseeing the quantitative valuation and analytics including model valuation, stress testing, and scenario analysis.

Risk Management:

• Defining risk management requirements and providing risk mitigation guidance during strategic reviews of existing and/or new business initiatives, hedging results, etc.
• Overseeing the management of the Energy Trading and Risk Management (ETRM) system, including providing system support and access, process controls, report development and creation.

Operational Excellence & Compliance

• Ensuring the delivery of optimal results against appropriate performance metrics such as commodity exposure limits, volumetric thresholds, profit and loss, and other energy management metrics as well as operational effectiveness and efficiency (e.g. on-time delivery of reports, confirmations, timely system enhancements, etc.).

• Managing the development, implementation and review of the Commodity Risk and Analytics processes to ensure compliance to policies, standards, regulatory requirements and ensure mitigation of risks.
• Ensuring compliance with Market Risk Policy and independently validating transactional details such as terms and pricing and manage third-party confirmations and discrepancy resolutions.

Budget & Reporting:

• Identifying the necessary budget requirements for the provision of required systems, resources, analytical models/reports.
• Measuring and reporting portfolio positions and profit & loss (P&L) on a daily basis, including detailed attributions and handling exception reporting, including volumetric limits, Value at Risk (VaR), approved product types, and instrumentation.

Team Leadership & Cross Functional Collaboration:

• Leading a highly functioning team of Senior Analyst(s) and Analyst(s); fostering a culture of ownership and innovation through effective hiring, talent development, organizational structure, while considering appropriate succession planning.
• Creating positive momentum to drive high team engagement through effective collaboration, team bonding activities, coaching, mentorship and career development support.
• Ensuring optimal deliverables through effective cross-functional accountability and authority practices (when relevant) within Senior Manager’s context and prescribed limits

• Fostering long-lasting relationships with key business stakeholders within respective areas e.g. middle and front offices, regulators, industry partners and customers etc.) to influence or ensure positive business outcomes for EPCOR.

What’s required to be successful

• Bachelor’s degree in finance, Accounting, Economics or Mathematics from a recognized educational institution is required.
  • A Master’s degree or a Professional designation such as Certified Financial Analyst (CFA), will be considered an asset.
• Experience that includes:
  • 10 years of progressive experience including market risk analysis, or other analytical roles, with specific focus on Energy (Natural Gas and Electricity) markets.
  • A proven track record and demonstrable experience building and leading teams as well as managing team’s performance to achieve pre-defined business goals.
  • Preference for work experience in a Commodity Marketing Organization buying and selling any or all of Power (including renewable), Natural Gas, Crude Oil, Natural Gas Liquids (NGL’s) and Emission Products.
  • Strong understanding of energy markets, especially Electricity and Natural Gas.
• Excellent quantitative skills, and proficient in working with analytical tools, including practical experience with ETRM systems such as Molecule, Allegro or Endur.
• Strong analytical and presentation skills (i.e. demonstrated capabilities in Excel modelling, presentation tools, and other analytical tools or skillsets such as Power BI, Python, SQL, etc.)
• Strong communication skills with ability to cascade and present complex or technical subject matters to diverse audiences with varying degrees of knowledge and backgrounds.

Other important facts about this job

Jurisdiction: MGMT

Hours of work: 80 hours biweekly

Application deadline: March 17, 2025

EPCOR Employees: Please ensure that you are using your “@epcor.com” email address.

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Please note the following information:

• A requirement of working for EPCOR is that you are at least 18 years of age, successfully attained the educational qualification required for this role and legally entitled to work in Canada. (A copy of a valid work permit may be required.)
• If you are considered for the position, clearance on all applicable background checks (which may include criminal, identity, educational, and/or credit) and professional reference checks is required. Some EPCOR positions require an enhanced level of background assessment, which is dictated by law. These positions require advanced criminal record checks that must also be conducted from time to time after commencement of employment.
• A technical/practical assessment may be administered during the selection process and this exercise will be used as a part of the selection criterion.
• To meet the physical demands required of some positions, candidates must be in good physical condition and willing to work in all weather conditions. Clearance on pre-placement medical and drug and alcohol testing may be required.