Energy Markets (EM) is the heart of the SSE Group, securing value for SSE's asset portfolios in wholesale energy markets as we move towards our vision of being a leading energy company in a net zero world. EM plays a critical role as the short-term energy market asset optimiser, and a long-term energy market adviser, for all SSE's Business Units (across SSE's Wind, Hydro, Low Carbon Thermal, Distributed Energy and Customer portfolios). This role for EM enables SSE to focus its investment in energy markets capabilities (including Trading, Risk Management, Energy Economics and Advanced Analytics) in one centre of excellence, with these enhanced capabilities supporting value creation and decision-making across the SSE Group.
About the Role
Base Location: Perth, Edinburgh or Glasgow
Salary: £74,600 - £112,000 + performance related bonus and a range of other benefits to support your family, finances and wellbeing.
Working Pattern: Permanent | Full Time | Flexible First options available
The Head of Credit is responsible for the credit activities of the Energy Markets Business Unit, from maintaining the Credit Policy to setting limits, analysing risks, monitoring exposures and tracking counterparties. Oversight of a team of c.6 FTE with specialist skills across Risk Management
- You will undertake a key role in the business as part of a team who are responsible for credit risk management and reporting, credit risk analysis and the complex modelling of credit exposures associated with SSE's diverse portfolio of assets.
- You will provide an underwriting function to support the route to market for existing physical assets (thermal power stations, gas storage, renewables assets), new asset opportunities, and nonstandard bilateral contracts (PPAs, swing contracts, index contracts, spreads, weather derivatives).
- Work with Treasury to reduce the requirement to post collateral, reduce leverage and enhance Group profitability.
- You will be comfortable with big data and demonstrate a flair for creating innovative solutions to meet changing needs and requirements.
- As a senior member of the Risk department, you will play an essential part in fostering a culture of innovation and improvement, helping generate ideas and seeing them brought to fruition.
What do I need?
We are looking for someone who will lead in supporting the business by providing robust credit rating assessment, portfolio monitoring/rating reviews, and rating methodology expertise.
- Demonstrable professional experience in Credit Risk Management with a high focus on quality of counterpart analysis and a deep understanding of credit risk modelling.
- Extensive leadership experience and skills that drive high performance in line with the company's values.
- Self-confidence and willingness to defend own views where appropriate and required.
- Demonstrable experience in credit risk management, including portfolio risk management and risk modelling.
- Experience implementing Credit Risk Strategies, Scorecards and Policy Rules.
- Excellent understanding of physical and financial trading, including transaction structuring and contract negotiation as impacts credit (Standard contracts include Sale & Purchase Agreements, ISDAs and CSAs).
- Professional qualifications such as the PRM, FRM or CFA would also be advantageous.
- You will be comfortable dealing with various internal and external stakeholders and demonstrate your ability to build strong working relationships.
What's in it for you?
An excellent package with 34 days holiday entitlement, enhanced maternity/paternity leave, discounted healthcare, salary sacrifice car leasing and much more, view our full benefits package on our careers site.
As an equal opportunity employer we encourage diversity and are committed to creating an inclusive environment for all employees. We actively encourage applicants from all protected characteristics and commit to providing any reasonable adjustments required during the application, assessment and upon joining SSE. Search for 'Inclusion & Diversity at SSE' to find out more.
Next Steps
All applications should be submitted online, and I'll be back in touch after the vacancy closing date to let you know the outcome.
If you would like to discuss any working differently requirements or adjustments you may require throughout the recruitment and selection process, please contact Natalie.Clark@sse.com / 01738 342002.
Before commencing employment with SSE, you'll be required to fully complete our pre-employment screening process consisting of a basic criminal records and credit check.
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