What are the responsibilities and job description for the Head of Supply & Risk position at Octopus Energy?
Houston, TX
Octopus Energy US 🇺🇸 – Finance & Accounting /
Full-time /
Hybrid
Welcome to the future of energy
We are both an electricity retailer and a tech platform and we think there is no better way to address our greatest challenge, climate change, than with the combination of those two.
Through our proprietary tech platform, Kraken, we are changing the way people interact with their energy company - by making it approachable, low cost, easy-to-understand, and most importantly, 100% renewable.
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. Reporting into the VP, Finance & Risk, this is an exciting opportunity to lead the US risk & trading team and continue to build out 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
Studies have shown that some groups of people, like women, are less likely to apply to a role unless they meet 100% of the job requirements. Whoever you are, if you like one of our jobs, we encourage you to apply as you might just be the candidate we hire. Across Octopus, we're looking for genuinely decent people who are honest and empathetic. Our people are our strongest asset and the unique skills and perspectives people bring to the team are the driving force of our success. As an equal opportunity employer, we do not discriminate on the basis of any protected attribute. Our commitment is to provide equal opportunities, an inclusive work environment, and fairness for everyone.
Octopus Energy US 🇺🇸 – Finance & Accounting /
Full-time /
Hybrid
Welcome to the future of energy
We are both an electricity retailer and a tech platform and we think there is no better way to address our greatest challenge, climate change, than with the combination of those two.
Through our proprietary tech platform, Kraken, we are changing the way people interact with their energy company - by making it approachable, low cost, easy-to-understand, and most importantly, 100% renewable.
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. Reporting into the VP, Finance & Risk, this is an exciting opportunity to lead the US risk & trading team and continue to build out 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
- As the Head of Supply, you will be responsible for retail supply management activities in ERCOT power market as well as risk management, and retail contract pricing driving the gross margins associated with our retail power business located in the ERCOT market.
- Create a great place to work. You’ll be responsible for looking after every aspect of the Risk teams' welfare at work, motivation, personal development and engagement. Identifying talent within the team, developing and mentoring them.
- Identify long and short-term price and volume risk exposures inherent to the retail power business.
- Monitor and manage shaping risk of the retail load portfolio and optimize utilization of DSR program to help manage risk.
- Oversee execution of bilateral hedges, day-ahead demand bid schedules, and utilize non-standard instruments to cover risk and load for the retail book.
- Monitor and formulate forward price curves for all power cost components and continually monitor and adjust shaping assumptions to produce retail pricing at expected gross margin.
- Provide insight to senior management into the drivers of the company’s gross margin from forecast through settlement.
- Report on the company’s open position, MTM exposure, and VaR under a range of outlooks.
- Expand supplier relationships to maximize market coverage and trading liquidity
- Continuously challenge processes and deliver improvement/automation, or spec improvements/automation for delivery by the Tech team.
- Make proposals on generation, flexibility, or DSR initiatives that will support risk management and innovative ways to deliver genuine renewable supply.
- Minimum 10 years of experience managing power in US energy markets, at least 3 of which should be in ERCOT
- Bachelor’s degree or higher in a quantitative field such as Engineering, Mathematics or Statistics
- Ideally, you'll have retail electricity experience or a high understanding of the retail side of energy
- Proven track record with directly managing high performing teams
- Proficiency in Python and SQL is necessary
- 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)
Studies have shown that some groups of people, like women, are less likely to apply to a role unless they meet 100% of the job requirements. Whoever you are, if you like one of our jobs, we encourage you to apply as you might just be the candidate we hire. Across Octopus, we're looking for genuinely decent people who are honest and empathetic. Our people are our strongest asset and the unique skills and perspectives people bring to the team are the driving force of our success. As an equal opportunity employer, we do not discriminate on the basis of any protected attribute. Our commitment is to provide equal opportunities, an inclusive work environment, and fairness for everyone.
