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    Senior Director of Risk - Houston, United States - Targa

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    Description
    Reporting through the Finance Organization, the Director of Risk will lead the risk management function monitoring corporate commodity risk while advising executive management as strategies are proposed, developed, and executed upon.

    JOB DUTIES AND RESPONSIBILITIES:
    • Provide guidance and vision around a build-out of the Mid-Office function with specific focus on commodity risk and its interplay with associated functions such as Credit, Commercial Services, Commercial Functional and Business Analytics
    • Work with Mid-office Risk (CDE) Analyst Team
      • Team of analysts responsible for RightAngle reference data, exchange trades, curve creation and marks, and invoice reconciliation with 3rd parties
      • Team responsible for entry and maintenance of Logistics Deals and any deal that doesn't fall under a Master Agreement
      • Oversite of deal integrity checks through monitoring of various reports within RightAngle
    • Identifying and Defining Market and Operational Risk
      • Responsible for identifying and helping manage risks associated with natural gas and natural gas liquids trading and exposure (physical and financial)
      • Refine and standardize a common approach to measuring and communicating risk appetite, tolerance and exposure
      • Management and ongoing development of the daily preparation, monitoring, and analysis of risk management reporting; this includes, but is not limited to: daily trade reporting, open position, mark-to-market, and price reporting for all commodities
      • Lead the systems and decision platforms supporting risk strategy, policies, and processes across business lines
      • Monitor and oversee risk limits, and ensure delegation-of-authorities are in compliance
      • Monitor and track trade volumes against transactional risk limits
      • Where necessary, advise stakeholders on approved trading products and locations
      • Review, analyze, interpret and provide daily exposure and mark to market P&L reporting and verification
      • Work closely with traders to quantify and explain the sources of risk in their portfolios
      • Evaluate new opportunities (M&A, business lines, trading opportunities, etc.) from a risk perspective
      • Coordination across functions to set and modify limits based on risk appetite and tolerance
      • Coordination between credit reporting and risk reporting including identifying discrepancies and ensuring consistent and accurate data across both functions for all products
      • Responsible for supporting cross-functional cooperation across commercial, credit, planning, accounting, technology and other key functions to assess and partner on identifying ways to mitigate risk exposures
    • Measuring and Assessing Market and Operational Risks
      • Research, develop and enhance market risk models and methodologies
      • Ensure products and deals are properly reflected in Allegro (natural gas) and RightAngle (natural gas liquids) systems
      • Validate system inputs including price curves and deal entry to ensure the proper Mark-to-Market (MTM), and Profit and Loss results
      • Support creation of effective control environment
    • Providing Guidance or Information Required to Optimally Mitigate Risk
      • Partner with commercial and trading teams to support and ensure all market and operational risks are understood and being managed strategically
      • Perform back-tests, stress tests, scenario analyses and sensitivity studies
    • Monitoring and Reporting
      • Responsible for setting up, monitoring and conducting testing on key risk controls
      • Monitor and explain changes in MTM (both current and forward)
      • Potentially present to the Risk Management Committee of the Board of Directors
      • Set-up and optimize use of risk systems
    • Risk Analytics Systems
      • Design requirements and shepherd creation and/or implementation of a platform supporting aggregation of all commodity exposure from Allegro (Gas) and RightAngle (NGL)
      • Implement the calculation of Value at Risk (VaR), and is associated analysis and stress tests
    MINIMUM ESSENTIAL QUALIFICATIONS
    • Requires a minimum of 15 years of professional business experience, with a minimum of 10 years leading or managing a risk function
    • Requires a Bachelor's degree in finance, mathematics, statistics or a related field from an accredited college or university
    • Experience with ION products including RightAngle and Allegro
    • Experience building Advanced Excel-based models to analyze data required
    • Experience leading a team and influencing Front Office functions
    EQUAL EMPLOYMENT OPPORTUNITY:

    Targa Resources provides equal employment opportunities based on merit, experience, and other work-related criteria and without regard to race, color, ethnicity, religion, national origin, sex, age, pregnancy, disability, veteran status, or any other status protected by applicable law. We also strive to provide reasonable accommodation to employees' beliefs and practices that do not conflict with Targa's policies and applicable law. We value the unique contributions that every employee brings to their role with Targa.


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