Quantitative Manager, Commodity Market Risk
- Contract Length: Permanent, Full-time
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Work Type: Hybrid
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Location: 200, 425 - 1st Street SW Calgary, AB T2P 3L8
Raise is currently hiring a contract team member on behalf of our client. They’re expanding their team to meet growing needs, making this a unique opportunity to work with an industry leader.
Job Overview:
- We are seeking a highly skilled Quantitative Manager, Commodity Market Risk to lead the delivery of daily market risk reporting and analytics across North American commodity markets, including power, natural gas, crude oil, and natural gas liquids (NGLs).
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In this role, you will provide timely, accurate, and decision‑ready insights into key risk metrics such as Mark‑to‑Market (MTM), Value‑at‑Risk (VaR), at‑risk exposures, and trading positions, while driving enhanced transparency around day‑over‑day performance.
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This position offers a dynamic and rewarding career path, with opportunities to expand your technical expertise, lead innovation in risk analytics, and contribute to enterprise‑level decision‑making. We offer a competitive compensation package, comprehensive benefits, pension plan, and generous time‑off.
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If you are passionate about quantitative risk leadership and energy markets, we encourage you to apply with Enbridge!.
Key Responsibilities:
- Lead and oversee daily market risk reporting, ensuring accuracy, timeliness, and actionable insights across all commodity portfolios.
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Provide detailed analysis of MTM movements, VaR changes, open positions, and limit utilization, including clear P&L attribution and explanations.
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Maintain full ownership of end‑to‑end VaR model integrity, including data quality, validation, back‑testing, and explainability.
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Ensure robust governance over VaR, GMaR, and stress testing frameworks, with continuous enhancements to methodologies and controls.
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Drive improvements in valuation controls and price curve validation, embedding best practices for enterprise reporting accuracy.
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Serve as a subject matter expert in pricing systems (e.g., Pricing Data Warehouse, ZEMA) and related data integrations.
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Lead the risk analytics team, ensuring high performance, collaboration, and continuous professional development.
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Deliver end‑to‑end risk technology projects, including automation and advanced analytics using Python and Power BI.
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Design and implement scalable risk tools and reporting frameworks to support expanding business needs.
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Conduct market risk assessments for new business initiatives, ensuring risks are identified, quantified, and approved through governance processes.
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Provide risk policy recommendations, including limits, approved strategies, and transaction governance.
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Collaborate cross‑functionally with Trading, Enterprise Risk, Scheduling, Accounting, IT (MRM), Credit, Legal, and Compliance teams.
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Monitor and report policy compliance and limit breaches, ensuring transparency and timely escalation.
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Support quarterly risk governance meetings and senior management reporting.
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Maintain adherence to SOX controls, documentation standards, and regulatory requirements.
Qualifications:
Required:
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Bachelor’s degree in Economics, Finance, or Applied Sciences
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Minimum 8+ years of experience in commodity market risk, with focus on power, natural gas, and/or crude oil
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Advanced proficiency in:
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Python, SQL
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Business Intelligence tools (Power BI preferred)
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Hands‑on experience with:
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VaR modeling, MTM reporting, and risk limit frameworks
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Scenario analysis, stress testing, and back‑testing
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Energy Trading & Risk Management (ETRM) systems (Openlink/Endur or similar)
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Strong foundation in statistics, probability, and quantitative finance
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Deep understanding of:
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VaR and GMaR methodologies
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Portfolio risk decomposition and P&L attribution
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Option pricing and valuation techniques
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Excellent communication and stakeholder engagement skills
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Ability to translate complex models into actionable business insights
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Proven capability to lead projects from concept to delivery in a fast‑paced environment
Preferred:
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Professional certifications such as CFA, MBA, CA, FRM, or ERP
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Advanced knowledge of North American power markets, including:
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ISO markets (PJM, MISO, ERCOT, NYISO, ISO‑NE, SPP, IESO, AESO)
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Products such as FTRs, virtuals, congestion, ancillary services
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Experience with:
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Spark spreads / heat rate trading strategies
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Cash‑month pricing and wholesale power markets
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Options and Calendar Spread Options (CSOs)
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Strong ability to interpret LMPs, forward curves, and pricing sources
Working Conditions:
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Typical office environment, open trading floor concept setup
Physical Requirements:
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Ability to perform standard office activities, including:
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Sitting and standing for extended periods
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Computer use with visual focus on detailed data
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Occasional light lifting (up to 20 lbs)
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Repetitive tasks and reaching as needed
Mental Requirements:
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Strong cognitive and analytical abilities, including:
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Interpreting complex data and financial models
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Problem‑solving and decision‑making in dynamic environments
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Managing multiple priorities and deadlines
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Communicating clearly across diverse stakeholder groups
Looking for meaningful work? We can help
Raise is an established hiring firm with over 65 years of experience. We believe strongly in making the world a better place through work, which is why we’re a certified B Corporation and donate 10% of our profits to charity.
We strive to build teams that reflect the diversity of the communities we work in. We encourage all qualified applicants to apply, including people from traditionally underrepresented groups such as women, visible minorities, Indigenous peoples, people identifying as LGBTQ2SI, veterans, and people with visible/nonvisible disabilities.
We have a dedicated webpage for accommodations where you can learn more about what we offer and request accommodation: https://raise.jobs/accommodations/
In order to submit candidates for roles, our clients will sometimes require personal information to confirm the identity of applicants and their legal status to work. Raise will never ask you for personal or banking information unless you have been selected for a job. If you are ever unsure about the legitimacy of this or another job posting by Raise (or have any other questions), please contact us at +1 800-567-9675 or [email protected].
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