Head of Supply Risk
Head of Supply Risk
Posted on :
08-04-2025
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1 Vacancy
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Job Description
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 easytounderstand 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 youll 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. Youll 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 shortterm 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 of bilateral hedges dayahead demand bid schedules and utilize nonstandard 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 companys gross margin from forecast through settlement.
- Report on the companys 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.
What youll need
- Minimum 10 years of experience managing power in US energy markets at least 3 of which should be in ERCOT
- Bachelors degree or higher in a quantitative field such as Engineering Mathematics or Statistics
- Ideally youll 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)
Why else youll love it here
- Great medical dental and vision insurance options including FSAs.
- Paid time off we know working hard means also being able to recharge as needed we trust our employees to get the work done and take the time they need. Octopus offers 20 days paid vacation 8 paid sick days and discretionary unlimited paid time off.
- 401(k) plan with employer match. Octopus matches 100 of contributions on the first 3 and 50 of contributions from 35.
- Parental leave. Biological adoptive and foster parents are all eligible.We pay 16 weeks at full pay and then 8 weeks at half pay.
- Pretax commuter benefits.
- Flexible working environment: This team works in our Downtown Houston Office 3 days a week. You need to shift around your schedule You do you we genuinely believe in work/life balance.
- Equity Options: every Octopus employee owns part of the business. Were a team working together towards huge goals. Every person is crucial to our success you should be rewarded as such.
- Wondering what the salary for this role isJust ask us! When on a call with one of our recruiters its something we always cover as we genuinely want to match your experience with the correct salary. The reason why we dont advertise is because we honestly have a degree of flexibility and would never want salary to be a reason why someone doesnt apply to Octopus whats more important to us is finding the right octofit!
If this sounds like you then wed love to hear from you.
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 were 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.
Required Experience:
Director
Employment Type
Full-Time
Key Skills
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