Sr. Specialist Market Risk

Your Opportunity

One Permanent Full Time Position

The Senior Specialist, Market Risk role, within Capital Powers middle office, provides independent analysis and oversight of market risk exposures across power, natural gas, and environmental portfolios. The role evaluates trading and hedging strategies, governs price curves and valuation methodologies, and develops and executes market risk analytics including VaR, stress testing, scenario analysis, and assessment of nonlinear exposures.

The position supports new product approvals and complex structured transactions through development and validation of valuation methods, risk models, and exposures, and monitors risk limits and escalation processes. Through strong model validation, analytical insight, and risk reporting, the role delivers clear, defensible risk insights to support effective decisionmaking and the continued development of the Market Risk function.

As part of a rapidly growing team, the successful candidate will demonstrate flexibility and a desire to contribute to wider team growth and development.

You will contribute to our team by:

 Strategy analysis: Prospectively analyze and validate trading and hedging strategies proposed by Front Office to ensure consistency with approved risk management objectives and the firms risk profile.

 Valuation and curve oversight: Ensure appropriate price curves and valuation methodologies are in place for all new deals, strategies, and structured transactions; validate valuation and exposures of proposed structured transactions and prepare supporting risk analysis as required.

 Hedge effectiveness analysis: Perform periodic retrospective analysis to assess the effectiveness of authorized hedging strategies and evaluate whether intended risk management outcomes are being achieved.

 Risk quantification and analytics: Develop, maintain, and execute market risk analytics, including ValueatRisk, stress testing, backtesting, scenario analysis, sensitivities, and assessment of nonlinear portfolio exposures.

 Risk limit monitoring: Execute an ongoing process to review portfolio exposures against approved market risk limits, investigate and escalate breaches, and produce exception reporting.

 Model development and validation: Develop and validate pricing and risk methodologies for new, complex, or illiquid instruments (including marktomodel approaches), and generation and storage assets; provide ongoing governance and independent validation of valuation and risk models, inputs, and assumptions.

What you will bring to the role:

Education

 Post-secondary degree in Finance, Economics, Mathematics, Engineering, or a related field.

 Advanced degree (e.g., Masters, PhD) or professional designation (e.g., CFA, FRM, PRM) is an asset.

Experience

 5+ years in market risk, quantitative analysis, or related middle office roles within trading, commodities, or financial services.

 Hands-on experience with risk quantification models (e.g., VaR), stress testing, and back testing.

 Exposure to valuation of complex and structured transactions, options modeling, and risk limit monitoring.

 Experience developing and validating pricing and risk models.

 Experience analyzing market risk, valuation, and trading strategies in power, natural gas, and/or environmental markets (e.g., WECC, PJM, ERCOT, AESO).

 Familiarity with risk management of generation and storage assets.

Technical Skills

 Proficiency with risk management systems and analytical tools (e.g., ETRM, Excel, Python, R, MATLAB).

 Advanced knowledge of market risk metrics (VaR, stress testing, back testing).

 Strong quantitative modeling skills, including options valuation, price curve modeling, and mark-to-model techniques.

 Ability to develop, maintain, and validate risk and valuation models.

 Data analysis and risk reporting (preparing risk reports, exception reports).

 Familiarity with power market data, price curves, and valuation models specific to regional markets (e.g., WECC).

 Ability to interpret and model market-specific risk metrics and exposures.

 Skilled in simulating dispatch, operational constraints, and market exposures for generation and storage assets, and asset-related contracts.

Working Conditions

 Office environment

 Hybrid work with 3 days in office

 Location: Calgary, AB

 Minimal Travel

How To Apply and Next Steps