BU GEM (Global Energy Management), combines all ENGIE Group’s asset management and trading activities. Specializing in risk management and energy markets, the BU is present in 11 countries. It delivers its expertise to all Group BUs and develops energy management, trading and origination activities servicing ENGIE’s clients. GEM manages over all time horizons, one of the largest and most diversified energy portfolios, including electricity, natural gas, coal, oil products, biomass, CO2 and environmental products, particularly through its trading activities and presence in key energy marketplaces.
GEC Division (GEM European Countries) is one of the divisions of BU GEM and is responsible for the development and management of GEM’s activities in Europe, outside of the main countries of Central West Europe. GEC division covers local gas and power activities in Italy, Spain, Poland, Romania and the UK , where the position is based.
The position of Energy Trader Gas and Power is based in London (Canary Wharf), within the UK energy trading and origination platform of BU GEM.
GEM UK team is today active on the physical gas and power markets in the UK, serving both internal customers like BU UK/ BU Storengy and external customers. The team manages and/or provides market access to gas and power assets (eg. gas storages, pump storage units, CCGT, offshore wind) and to retail portfolios.
GEM UK is now looking to expand its business, driven by an ambitious development project:
- starting from the existing desk, set-up a full-fledged platform trading UK gas and power physical markets on more variety of products (ie. implement GEM’s IT systems, obtain the adequate risk mandates, launch new trading activities leveraging both the experience of the local team and the cooperation with other GEM’s expertise centers and business platforms where needed)
- fostering origination to enlarge the scope of activities and bring in structured positions to the traders (eg. market accesses, gas assets management, long-term PPAs, …)
- … supported by strong quantitative analytics, risk management capabilities, flow-less and digitalized operations.
Role/Goals of the job
The Energy Trader Gas and Power will support the team in setting-up the UK trading platform and in sustainably developing the P&L of the trading books
He/she will bring his know-how and experience to strengthen the existing local team.
Head of Origination and Trading GEM UK
Main Activities & Challenges & Responsibilities
The Energy Trader will trade day-ahead to long-term gas and power products. He/she will have to do market making on both gas and power, as well as price and manage structured deals (power and gas cross border, flexibility, options …)
The Energy Trader will be involved in:
· Implementing GEM’s best practices and tools in the existing trading desk (implementation of Meteor, governance and limits approvals, …)
Sharing know-how on GEM’s tools, processes, rules and coaching junior traders if needed
Implementing a culture of market making/ risk taking within the respect of the risk mandate
Implementing hedging and trading strategies
Pricing products in collaboration with quants and originators
Updating the curves
Properly booking, representing and reporting positions
Ensuring a strict application of all internal and regulatory trading rules (limits, compliance, etc.)
Proposing improvements in models, processes, tools and following-up their implementation
Promoting team spirit and collaboration mindset within the desk and with other teams
Authority & Autonomy
· GEM UK Originators and other front desks within BU GEM
Legal and compliance
· External counterparties and other ENGIE BUs
· Previous experience (minimum 4 years) of working in a similar role in trading physical power and/or gas;
· A degree in a technical discipline (e.g. engineering, physics, economics, math’s) or other relevant subject is preferred.
Track record in trading
· Experience in market making;
· Deep understanding of risks and their management
· Experience in options pricing and management
· Experience in assets management;
· Knowledge of the UK energy markets
· Experience in trading gas flex/storage is preferable and experience in trading other energy products is a plus;
· Balanced approach to risk (risk/reward);
Leadership and drive;
Positive and entrepreneurial mindset;
Good stress resilience;
Strong communication and interpersonal skills;
· Transparent and open.
Languages & IT Skills
Fluent in English written & oral;
Expertise in Coding, risk framework and/or math applied to finance is a plus.
· London, Canary Wharf
· Limited (after an initial training period in Paris or Brussels if needed)
· Victoria Grigoriu
· Posting Date: Aug 16, 2019