Hedging Strategy Analyst

The Hedging Strategy team, within Group Commodity Management, is an integral part of Centrica’s Energy Marketing and Trading (EM&T) division. The team manages the supply risk of Gas, Power & Renewable products on behalf of the British Gas Residential and Business’s customers, worth around £6bn per annum. It also hedges and risk manages the output from Centrica’s share of the UK nuclear generation fleet and the upstream Oil and Gas production through the Spirit Energy JV.

The team is responsible for recommending hedging strategies to business units, mitigating commodity risks, and supporting commercial performance via execution through the trading teams within the Energy Marketing and Trading division.

This role would be based out of our London offices (close to Marble Arch).

The Job role:

The Hedging Strategy Analyst will work as part of the Hedging Strategy team and will be responsible for identifying risks across the portfolio and developing commodity and weather hedging strategies to manage those risks as well as support Centrica’s competitive position in a rapidly changing market and regulatory environment. Examples include making weather hedging recommendations, nominating long-term contracts, monitoring and adapting the basis spread strategy, and reviewing the CfD hedging strategy.

They will also lead the development and operations of quantitative models which are key to describe the risks Centrica face (such as weather risk) and help define optimal mitigation strategies or hedging products to the book owners. This includes regularly calibrating and reviewing the weather risk model, assessing the basis spread risk or the risk created by increasing renewable generation.

In addition, they will be responsible for sourcing the relevant hedging products through Origination, supporting the implementation of hedging strategies by the Hedging Execution team (within Group Commodity Management), including monitoring and reporting on the strategies, developing KPIs and identifying improvements.

This is a pivotal and highly visible Analyst role, working with stakeholders across a range of teams and departments including Trading, Risk, Business Finance, Origination, Quantitative Analytics & IS within EM&T and Risk, Demand Forecasting, Pricing & Propositions within the supply businesses. The person will frequently work on projects & challenges independently.

The Person:

-Good understanding and experience of the UK wholesale gas and power markets and risk management

-Demonstrate an in-depth understanding of the UK energy supply market, retail pricing and competitive market dynamics

-Have a detailed knowledge of the regulatory changes impacting UK energy markets

-Be a highly numerate individual with a deep understanding of risk analysis and have previous experience in an analytical and quantitative role

-Be knowledgeable in simulation modelling such as Monte-Carlo and scenario simulations

-Be proficient in Python, Power BI, Excel, VBA, SQL

-Have the ability to present complex topics to senior management in a simple and compelling manner

-Demonstrate the ability to work with multiple teams and stakeholders across Centrica; including Pricing, Risk, Demand Forecasting, Origination and Regulatory Affairs

-Proactively research new issues and use a variety of relevant strategy analytical techniques to assist in designing strategies and making recommendations.

Applications and interviews will be checked and held ongoingly, so make sure to apply today. This role is being handled by the Centrica recruitment team, and no agency contact is required.