Risk Manager

Our client is involved in global commodities trading and is looking to recruit a **Risk Manager **to join its growing organization. Primarily they procure LNG, coal, biomass, and freight for group owned power facilities located in Germany, Italy, France, and the UK, which have a generating capacity of over 100 TWh of power, making them the 6th largest power producer in Europe. They also offer third-party clients a portfolio of LNG, biomass, freight, coals, iron ore and other industrial products, where they add value through origination, shipping, finance, and risk management.

This role is based in Singapore with some business travel to Europe required. The role is responsible for managing market, counterparty credit and liquidity risks arising from their commodity trading business.

**RESPONSIBILITIES**:
**Policies & Processes & Compliance
- Implement Group Risk policies and Risk models into local processes
- Conduct regular reviews of existing risk management policies and procedures
- Assess proposed changes and making recommendations to Group Risk Committee
- Propose changes where existing risk management standards are inadequate or less effective.
- Prepare risk limit proposals and other materials for Group Risk Committee
- Active communication across departments as well as with Group functions
- Controlling compliance with regulatory requirements related to commodity business
- Provide advice on the management of risk, market conventions or other documentation issues and support the credit risk management program in line with the credit risk management policies.

**PnL & Risk Reporting
- Participate on regular PnL reconciliation process lead by Finance
- Provide daily risk and PnL reporting to management and to traders including explanation of main PnL and Risk drivers
- Explain risk exposure changes and PnL moves in the regular reporting
- Review the accuracy of risk reports based on market trends and events and ensure consistency of information presented in risk reporting, ensure system or database errors are detected in a timely manner through daily review of risk reports and implement corrective actions for system and database flaws, including recommendations for automated fix solutions
- Conduct independent risk assessments of trading positions, strategies and the appropriateness and accuracy of market, credit, and liquidity risk exposure reporting
- Ensure that risk exposures are fully captured, managed, and reported to relevant stakeholders on time

**Credit Risk
- Provide counterparty credit clearance for business requests when controlling compliance with allocated credit risk limits.
- Prepare credit analysis for some trading counterparties
- Actively participate in risk, credit analysis of clients and other business project requirements.
- Monitor risk exposures against limits and risk appetite

**Curves
- Regular validation of the market price curves used for valuation of outstanding positions, to ensure accuracy and prudence of this key input in the mark to market calculation.
- Maintain independent proxy market curves for all commodities for use in mark to market and profitability calculations.
- Independent review of the appropriateness and accuracy of commodity price forecasts, business models and business assumptions.

**Back testing
- Regular back-testing of applied risk models and providing suggestions for model enhancements
- Participating in the development of stress tests and market sensitivities

**Systems
- Work with IT to enhance functionality of Front office / Risk management systems
- Participate in the assessment and analysis of systems related issues, including risk systems and other business systems that impact on risk and provide market risk analysis to the trading desks, management, and Group Risk Committee.

**Reporting Line:
Risk manager primarily reports to CFO and Group Head of Risk.

**REQUIRED EXPERIENCE & QUALIFICATIONS:
**You should have a demonstrable knowledge of**:

- Financial and commodity hedging markets with experience within risk management functions, profit/loss, and cash flow analysis
- Market risk and counterparty credit risk concepts and measurement strategies
- Financial and commodity hedging instruments in particular derivatives, options, and embedded optionality
- Commodities traded within the Asia Pacific Region, in particular energy, coal, and soft commodity industries
- Credit risk management techniques including credit risk assessment of commodity products and credit exposure reporting
- Operational risk management techniques with reference to trading operations.
- Commodity contract documentation
- Excel/VBA.
- Market Risk, Counterparty Credit risk and Liquidity risk concepts and metrics (e.g., Value at Risk, stress testing, collateral at risk, counterparty credit exposure, etc.)
- Proficient in English (also speaking Mandarin would be advantageous)
- Right to work in Singapore with the relevant residence permit or work permit
- Post graduate q