(Senior) Middle Office Manager

Company Description

Vattenfall is a European energy company with approximately 20 000 employees. For more than 100 years we have electrified industries, supplied energy to people’s homes and modernized our way of living through innovation and cooperation. We now want to make fossil-free living possible within one generation. To be able to reach this ambitious goal we are looking for talented individuals who, in addition to their passion for their own role, also have strong team spirit and want to contribute to supporting a meaningful corporate mission. 

Business Area (BA) Markets’ role in Vattenfall is to maximize the value of the overall portfolio by optimizing and dispatching, hedging and sourcing for Vattenfall's sales and generation volumes. We serve as Vattenfall’s single access to energy commodity markets and trade electricity, emissions, fuels, freight, and renewable certificates. We employ around 500 professionals who are active across Europe with offices in Sweden, Germany, The Netherlands and the United Kingdom.

Within Markets the Business Unit (BU) Trading is the energy trading hub of the Vattenfall Group. BU Trading is responsible for all trading activities around Vattenfall´s asset and customer flows to maximize value creation and improve sourcing costs. It provides market access services for the Vattenfall Group - which means managing all hedging flows, from generation assets or customers, by Market Access. Next to handling our flow business, BU Trading also has a proprietary mandate. 

We have a culture of care and growth. You will collaborate with inspiring people around you, on complex and interesting topics. Together, we drive the energy transition and contribute to a journey towards becoming fossil-free.

Job Description

At Vattenfall, we don’t just “do energy”, we exist to help our customers power their lives in ever climate smarter ways and free from fossil fuel within one generation. If you are looking for interesting challenges and the opportunity to be part of this change, then join our diverse and talented team and make a difference.

Our Business Area (BA) Markets is looking for the right person to fill the position as

(Senior) Middle Office Manager

for our offices in Hamburg or Stockholm.

As the (Senior) Middle Office Manager you focus on the active optimization of Vattenfall´s risk position, especially regarding the tradeoff between liquidity risk and credit risk. Also you will regularly optimize Vattenfall’s margin requirements and other related capital employment. As this role is constantly evolving, self-motivation and acumen to further develop the function and its position in Vattenfall is of key importance.

The function is anchored within Business Unit Trading, but is aimed at these risks at group level. Consequently, there will be many interactions within the Vattenfall Group, esp. with the Group Risk Functions, Accounting and Treasury, but also for example with Vattenfall’s Customer Business.

You will be part of a team of three with the (Junior) Middle Office Manager and the Head of Business Development in BU Trading. Organizationally you will report to the Head of BU Trading, while the day-to-day operational activities of the team are coordinated by the Head of Business Development.

Your key responsibilities:

• Monitor and analyze Vattenfall´s commodity portfolio and related risk reports
• Initiate and conclude commodity transactions which aim at lowering liquidity and/or credit risk
• Actively optimize margin requirements and other related capital employment
• Present deal proposals to various management levels
• Be the leading person when it comes to the active management of aforementioned risks
• Develop and monitor an Execution Strategy for Vattenfall’s Hedging Strategy
• Engage in relationship management with Clearing Houses and Clearing Banks
• Continuously develop the role and actively look for further optimization potential based on your ever growing expertise

Qualifications

Your profile:

• Strong academic background with a Master’s degree or higher in, e.g., business economics, engineering, finance, mathematics or other relevant subject
• Track record in an Origination / Trading Role with a solid understanding of Credit and Liquidity Risks OR track record in a Risk / xVA function with a strong commercial mindset; both with a minimum of 5 years relevant experience
• Strong communication skills with the ability to communicate with various internal stakeholders
• Ability to lead and conclude large commodity transactions
• Deep understanding and experience in the whole energy commodity complex
• Fluenc