Senior Director – Risk Management

Location: Fort Worth, TX 76118
Company: Young Energy LLC
Type: Full-Time
Work Arrangement: On-Site
Compensation: $120,000-$150,000 + annual bonus

Job Description:

Young Energy LLC is seeking a Senior Director of Risk Management to report to the company’s Chief Risk Officer.

This role will establish the company’s retail pricing and risk management practices and procedures according to the strategic direction set by the Risk Management and Pricing Committee (RMPC). The Senior Director will ensure compliance with company risk policies and limits; ensure the company’s software, systems, and data analysis tools support its objectives and departmental goals; provide leadership and direction to the Assistant Manager – Risk & Analytics; and actively coordinate activities with the Director – Wholesale Supply Management.

Essential Functions & Responsibilities:

• With direction from the RMPC, establish a risk management plan for each summer and winter season.
• Present each seasonal plan for confirmation at a semiannual best-practices RMPC meeting—early November for the winter plan and April for the summer plan.
• Incorporate hedging percentiles, stress-tested load possibilities, the current price environment, and available extended weather outlooks into each seasonal plan.
• Establish a retail price model and methodology that complies with risk policies and accounts for precise underlying wholesale costs.
• Distribute retail heat rates on the day following every authorized trading day for inclusion in the Offer Sheet.
• Measure and report the company’s compliance with its risk policy limits, including monthly long or short positions, market-based ancillary service obligations, and anticipatory hedging.
• Submit reports at the RMPC’s bimonthly meetings demonstrating compliance with the limits established in the current risk management policy.
• Prepare an annual report evaluating the effectiveness of hedging practices and recommending changes.
• Conduct position stress testing at least twice annually and recommend plans for responding to extreme weather scenarios.
• Maintain weekend coverage during extreme or potentially extreme weather events and adjust the company’s position accordingly.
• Measure and report on the accuracy of scheduling activities.
• Maintain contact with regulatory attorneys and monitor regulatory actions that may affect the business.
• Serve as the primary presenter at each RMPC meeting.
• Calibrate the cash flow model to reflect the best estimates of product revenue, customer count, attrition rates, volumetric sales, wholesale supply purchases, and expected gross margin.
• Maintain various software tools used by the business, with assistance from the Chief Risk Officer.
• Review plans to replace deficient tools and software with more formal systems when necessary.
• Perform other duties and responsibilities as directed by the Chief Risk Officer or other authorized company leaders.

Qualifications:

• Bachelor’s degree in Finance, Economics, Mathematics, Accounting, Business, Engineering, or a related field.
• Advanced degree, such as an MBA or MS in Risk Management, preferred.
• 15+ years of relevant risk management experience.
• Experience working with utility providers preferred.
• Demonstrated leadership experience working with company executives.
• Deep expertise in market, counterparty, liquidity, operational, and enterprise risk.
• Experience interacting with regulators and executive management.

Benefits:

• Annual paid time off.
• Annual performance review.
• Annual compensation review.
• Medical, dental, and vision coverage.
• Employee Assistance Program (EAP).
• Paid maternity leave.
• 401(k) retirement plan.
• Short-term and long-term disability coverage.

Compensation:

The estimated compensation range for this position is $120,000-$150,000 plus an annual bonus. The final compensation will consider a range of factors, including skills, experience, education, licenses, certifications, business needs, and internal equity.

This job description is not a comprehensive list of all activities, duties, and responsibilities associated with the position. Requirements may be expanded or otherwise changed at any time at the discretion of the company’s Chief Risk Officer.

Equal Employment Opportunity:

Young Energy LLC provides equal employment opportunities to all employees and applicants and believes respect and fair treatment are critical to creating a productive and caring workplace.

Young Energy LLC is an Equal Opportunity Employer. The company complies with all applicable federal, state, and local laws and prohibits discrimination and harassment based on race, color, religion, age, sex, national origin, disability, pregnancy, genetics, sexual orientation, veteran status, gender identity or expression, or any other protected characteristic. Young Energy LLC also complies with applicable pay-transparency and labor laws governing all terms and conditions of employment.