Lead market risk, credit risk, and ETRM transformation for energy trading, generation, and large commercial operations across Australia.
Location:
Melbourne (office/hybrid - must be Melbourne-based)
Contact:
Ivan Pignataro, D'Arcy Weil |
Focus:
Market risk, credit risk, ETRM systems, team leadership
D'Arcy Weil is representing a major integrated energy company operating substantial energy trading, generation, and commercial operations across Australia. They manage complex portfolios spanning wholesale power and gas trading, environmental certificates, generation assets, and large commercial supply, supported by sophisticated risk frameworks and trading systems.
The business is undergoing significant transformation including systems enhancement, risk framework development, and portfolio expansion. They need a strategic risk leader to elevate risk capability, drive operational improvements, and build collaborative partnerships with trading and commercial teams whilst maintaining robust risk control.
They are seeking a Head of Risk to lead market risk, credit risk, AML/KYC compliance, and risk analytics across Australian operations. This is a change agent role - you'll take an established team and elevate their performance whilst driving continuous improvement of risk frameworks, analytics capability, and systems.
The Role
You'll lead risk frameworks governing energy trading, generation, and commercial operations across Australia. This means building trust-based partnerships with front office teams, driving continuous improvement of risk systems and processes, and ensuring robust risk management whilst supporting business development.
You'll lead a team of market risk and credit/AML/KYC analysts, continuously improve risk mandates and analytics frameworks supported by metrics and limits, and work across Australian and regional stakeholders to align risk frameworks. Operating as both strategic risk advisor and change agent, you'll balance prudent risk control with commercial growth.
This isn't a pure "risk police" role - you'll be embedded with the business, supporting trading strategies and commercial decisions whilst maintaining independent oversight.
What You'll Do
Lead Risk Function
* Build and develop high-performing market risk and credit/AML/KYC teams
* Drive continuous improvement of risk mandates, metrics, and limits frameworks
* Develop consensus with local stakeholders on risk framework implementation
* Partner with trading and commercial teams balancing risk control with business development
* Report to risk committees and senior management on market risk, credit risk, AML/KYC, and liquidity risk
Drive Risk Transformation & Analytics
* Support implementation and adoption of trading and risk management systems
* Work with technology teams on system development and enhancement
* Collaborate with quant and risk methodology teams on pricing models, analytics frameworks, and risk methodologies
* Drive continuous improvement of risk reporting, analytics, and compliance monitoring
* Ensure independent benchmarking of pricing parameters including market prices, forward curves, and volatility
* Support front office teams with system adoption and market modelling
Manage Market & Credit Risk
* Monitor market risk metrics and provide high-quality risk analytics and reports to stakeholders
* Develop detailed understanding of risk positions across power, gas, environmental certificates, and carbon
* Review and obtain approval for risk mandates annually or as required
* Rate counterparties, set credit limits, and negotiate master agreements
* Oversee risk analysis, scenario modelling, and drive approval processes for large transactions
* Ensure independent benchmarking and verification of parameters used for P&L assessment including pricing curves and volatility assumptions
Build Collaborative Relationships
* Strike balance between prudent risk control and supporting business development
* Build trust with trading, portfolio management, and commercial teams
* Work with finance teams on risk aspects of new products and development opportunities
* Coordinate with stakeholders across Australian and regional operations
* Communicate effectively up to executive level
What You'll Need
Technical Expertise:
* Tertiary qualification in science, engineering, finance, or quantitative discipline
* 15+ years' experience in energy trading environments with deep power trading expertise including asset portfolio management, physical trading, derivatives, and spot/balancing markets
* Proven track record designing and implementing business governance frameworks and risk structures including mandates, limits, and delineating profit and transactional responsibilities
* Experience across mark-to-market and accrual accounting environments
* Familiarity with risk indicators including VaR, stress testing, scenario analysis,, economic capital modelling
* Experience with power portfolio management arrangements or joint ventures between trading entities and asset owners
* Understanding of market risk, credit risk, liquidity risk, and AML/KYC compliance
Leadership & Stakeholder Management:
* Substantial experience interacting with front office teams including trading, portfolio management, and balancing operations
* Team leadership, mentoring, and development skills with proven track record building high-performing teams
* Experienced project leader working with stakeholders from multiple independent business units
* Change management capability driving system implementations and operational transformation
* Comfortable communicating with multiple levels of corporate governance up to executive level
* Able to work in matrixed environments with stakeholders across multiple regions
Systems & Analytics:
* Experience with trading and risk management systems
* Hands-on experience with system implementations or transformations
* Strong analytical capability with understanding of risk methodologies and quantitative frameworks
* Ability to collaborate with technology teams, quantitative analysts, and risk methodology specialists
* Understanding of pricing models, market curves, volatility surfaces, and valuation parameters
* Familiarity with independent price verification and benchmarking processes
What Makes You Right For This
You've spent significant time in energy trading environments - you understand how traders think, what drives portfolio decisions, and how risk frameworks need to enable (not block) commercial activity. You've built risk frameworks from scratch or materially improved existing ones.
You can hold your own in technical discussions with quants and traders about VaR models, pricing curves, volatility surfaces, and risk exposures, but you're equally comfortable explaining risk concepts to executives and commercial teams. You understand the analytics that underpin risk management - forward curves, scenario modelling, independent price verification - and can challenge quantitative assumptions when needed.
You're a natural relationship builder who can earn the trust of front office teams whilst maintaining independent risk oversight. You see risk management as a business partnership, not a policing function. You've led teams through change and transformation, whether implementing systems, upgrading analytics frameworks, or developing team capability.
You're comfortable in complex, matrixed organisations where you need to influence without direct authority and navigate competing stakeholder priorities across multiple regions. You've led teams through change and transformation successfully.
Send your CV and brief cover note addressing:
* Your energy trading risk experience and track record
* Examples of risk frameworks or ETRM systems you've implemented
* Your approach to balancing risk control with business development
* Team leadership and change management experience
For Further Information Contact
Ivan Pignataro | Director
D'Arcy Weil
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This role is being managed exclusively by Ivan Pignataro at D'Arcy Weil. All applications will be treated in the strictest confidence.