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Pewaukee

    Senior Director of Risk - Pewaukee, United States - Targa

    Targa
    Targa Pewaukee, United States

    2 weeks ago

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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 3 rd

    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

    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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