Head of Market Risk (Centrica Energy)

Job Description

We are Centrica! We’re so much more than an energy company. We’re a family of brands revolutionising a cleaner, greener future. Working here is #MoreThanACareer - we’re powered by purpose. Together we can make an impact that will truly change tomorrow. Whether you’re developing cutting-edge green tech, helping customers on the front line or simplifying operations behind the scenes.

Your work here isn’t just a job – it’s a mission. We all play a vital role in energising a greener, fairer future.

Centrica Energy is the trading arm of Centrica. We trade power, gas, LNG, and energy attributes and connect producers, suppliers and off takers in the wholesale energy markets - and we provide our clients with the best route-to-market services available to the market today with physical and financial settlement approaches. In short, we call ourselves Energy Movers By Nature.

We’re a total of 850+ colleagues from over 50 different nations, located in 8 different offices around the world. At our London office, where this role is located, you’ll be joining our international office with over 300 dedicated energy specialists.

As the Head of Market Risk you will be responsible for overseeing a team of market risk professionals across London and Denmark offices and managing the risk of loss of earnings arising from the value of Centrica Energy’s portfolio driven by commodity price changes. You will oversee and manage market risk exposures, ensuring effective risk management strategies are in place to protect the company's trading positions and financial health.

The Head of Market Risk plays a key role in overseeing that the trading activity fits within the firm’s risk appetite and continuously developing the Market Risk function as we continue our growth and transition to a multi-location trading model. You will continuously be challenged around risk measurement and methodology, processes and procedures whilst having close, daily interaction with the front office and business units across the division.

This is an exciting opportunity for a talented and experienced Market Risk professional to be part of an organisation that is focused on maximizing profit from trading gas, power, LNG and Renewables and also functions as intermediary delivering energy from our Upstream and Power Generation teams on one side and British Gas on the other.

The role is based out of our central London office (close to Marble Arch) with 4 days per week based within the office. There is also a requirement for occasional travel to other Centrica Energy offices (e.g. Denmark (Copenhagen & Aalborg)) and this is expected to be once every 2-3 months.

What you’ll be doing:

• Lead a team of 14 market risk professionals across London and Denmark (Aalborg & Copenhagen), providing guidance, mentorship, and training to enhance their performance and development

• Be responsible for executing market risk management strategies across Gas, Power and Renewables, creating a strong Market Risk team presence and building strong relationships across the Centrica Energy business

• Maintain and share knowledge of trading portfolios and stay abreast of market trends, regulatory changes, and industry best practices related to market risk management in commodity trading

• Quantitatively analyse new deals and new businesses and identify embedded risks as part of the new product approval process

• Evaluate and recommend hedging strategies to mitigate market risk exposures and optimize trading opportunities

• Further enhance risk metrics and reporting frameworks to track and communicate market risk exposures to senior management and stakeholders

• Work closely with technology teams to enhance risk systems, models, and tools to improve risk measurement and monitoring capabilities, in alignment to target state architecture

• Participate to the Centrica Energy Risk Committee as Market Risk representative.

We have a few must-haves:

• Extensive experience within market risk management from within either a commodity house or investment banking environment, with a deep understanding of market dynamics and trading practices

• Prior energy knowledge is preferred, especially in EMEA Power and Gas financial and physical structures (gas storage, transport option, PPA, batteries, etc.)

• Leadership experience required due to the size and different location of the team, with the ability to motivate and develop high-performing resources

• Proven track record of developing and implementing effective market risk policies and procedures

• Strong quantitative skills, with proficiency in risk modeling, statistical analysis, and financial mathematics

• Experience with market risk measurement tools and systems, such as Value-at-Risk (VaR), stress testing models, and scenario analysis

• Excellent communication and interpersonal skills, with the ability to collaborate effectively across teams and present findings to senior management

• Confidence, presence, resilience and determination to successfully lead in a dynamic and demanding business environment

• Sound understanding of regulatory requirements and compliance frameworks relevant to commodity trading

• Demonstrated ability to thrive in a fast-paced, dynamic environment, managing multiple priorities with a strategic mindset

• Good attention to detail, a pragmatic business enabler with a good risk mindset.

Ready to Make Your Move and apply?

If you are passionate about discovering your potential and changing how we create a more sustainable future, then we would love to hear from you. We will be continuously reviewing applications; early submission is strongly recommended.

We're a People Place:

We have 4 People Promises, which are our pledge to all our colleagues. It’s the minimum of what you can always expect when working with us.

• People Promise #1 We’re a people place - we are devoted to doing great work together and are cultivating wellbeing and flexibility

• People Promise #2 You’ll ignite your potential - we are committed to career development and equal opportunities

• People Promise #3 You’ll get your share of our success - we offer attractive Benefits and Rewards

• People Promise #4 You’ll make an impact that will truly change tomorrow - we are committed to career development and equal opportunities. We are committed to moving towards a cleaner and greener future.

This is what you can always expect from us. It’s part of our culture, and we know it enables us all to make the most of everyone’s contribution for us to grow, move and thrive.

#LI-CET #MakeYourMove #MoreThanACareer

At Centrica we embrace diversity and actively seek to attract individuals with unique backgrounds and perspectives. To build a more sustainable future, we need the best team – a team with a diverse mix of people and skills, where everyone feels welcome and able to succeed. We are dedicated in helping to close the diversity gap and would love to see more females, people of colour and LGBTQ+ employees, as well as those from a variety of cultures and ethnicity to veterans and the differently abled. Supporting diversity and inclusion is a big part of who we are, we are not looking for people to fit into our culture but to add to it!

PLEASE APPLY ONLINE by hitting the 'Apply' button.

Applications will ONLY be accepted via the ‘Apply’ button.

This role is being handled by the Centrica recruitment team and NO agency contact is required.