Derivatives Manager

2 weeks ago


Auckland City, New Zealand Genesis Energy NZ Full time

Reference #- 21272- Posted on- 29 Jun 2023- Closes on- 13 Jul 2023 23:55- Location(s)- Auckland- Expertise- General Mgmt/Executive- Job level(s)- Management- Work type(s)- Permanent full-timeGenesis one of New Zealand's largest energy retailers, supplying electricity, natural gas and LPG, whilst generating around 20% of New Zealand's electricity, across our portfolio of thermal and renewable generation sites across the country. The spread of locations and fuel types in the portfolio gives us significant operating flexibility and our Power Stations are valuable assets for Genesis.

**About the role**:
The Wholesale Markets team is a highly complex part of our business that manages our thermal fuels, electricity generation portfolio, carbon obligations, and proprietary trading. We're looking for a motivated and experienced manager of risk to provide strong leadership across our Derivatives Trading team, leading our traders in trading electricity and emission products to maximise trading gross margin. This will include ASX electricity futures, OTC derivatives, Financial Transmission Rights and NZ Emission Units.

This position requires a deep understanding of commodities trading, strong analytical skills, and the ability to make informed decisions in a fast-paced environment with imperfect information.

**Key Responsibilities**:

- Lead the derivative trading team to maximise value through the development and execution of proprietary trading strategies.
- Oversee the performance of the ASX market making obligations.
- Support the Portfolio Group Manager and Spot Trading Manager in optimizing the gross margin delivered by the electricity generation portfolio, including appropriate mitigation of risks.
- Participate in, and drive the development of, the strategic thinking and key decision making around Electricity Hedging, both short and long term, Water Value methodology, and the Emissions Trading Scheme.
- Provide additional support, advice, and execution (if required) on the hedging of coal, oil, currency, methanol, LPG and other products.
- Manage key external and internal relationships on behalf of the Wholesale Markets Team and deliver Genesis' strategic objectives.

**About you**:

- 5+ years senior commodity trading experience. An understanding of electricity and carbon markets in New Zealand will be well regarded but is not essential.
- 3+ years of team leadership and management experience.
- Relevant tertiary technical or commercial qualification.
- Ability to manage multiple tasks and thrive in a fast-paced team environment in an industry experiencing rapid development.
- Experience of developing behavioural and cultural performance within a team environment.
- Excellent communication and interpersonal skills to engage and influence multiple stakeholders across various disciplines

**Our culture**:
Derivatives trading at Genesis is high profile, exciting and ever changing; you need to have the mindset to take and manage significant risk with the commercial acumen to make sound decisions in high pressure scenarios. You will be supported by an engaged leader and surrounded by some of the industry's best analytical minds as the energy industry transitions and grows with the evolution of technology driving the way we generate, sell, and trade electricity and emissions.

Genesis is proud to be an inclusive workplace; we celebrate difference and diversity and aim to empower our employees. We're a business built on innovation and optimism; a place where we value our people and provide opportunities for them to build outstanding careers and a better New Zealand.


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