Where you fit in

Shell Energy Europe & Africa (SE-EA) aspires to become one of the largest physical players in European Power Markets, requiring effective management of longer-term, hard-to-hedge PnL components stemming from physical deals. The Short-Term Power Risk & Pricing team leads the risk management of these illiquid exposures from asset-backed deals (including renewable energy and flexible assets such as Battery Energy Storage System (BESS) and thermal) monetized by the short-term trading teams in Great Britain and European power markets. This role reports to the STT (Short-term Trading) Power Risk & Pricing Manager with-in European Short Term Power Trading and Flexibility organisation and is based in London.

This is a front office role and critical in bridging the gap between short-term trading performance and long-term commitments on deals by owning the pricing of unhedgeable PnL components from deal valuation to delivery and setting benchmarks for measuring and enhancing the financial performance of short-term trading desks.

What’s the role?

You will be responsible for the following:

• Improve model-driven decision making while managing the asset book to handle long-term hard-to-hedge exposures from asset-backed deals, including renewables imbalance risk, within-month (weather window) volume and price shape risk, intraday and balancing mechanism, and ancillary services exposures of flexible assets from deal inception through delivery.

• Work with Power Fundamentals and Forecasting teams to develop longer-term fundamental views for intraday price scenarios correlated with renewable forecast errors and day-ahead prices.

• Collaborate with Quants and Structuring teams to ensure consistent modelling and valuation of these illiquid risk components from pre-deal to post-deal views.

• Work with Market Risk and controlling teams on reserves and valuation for reporting during the deal life cycle, ensuring PnL crystallization.

• Contribute developing models for pricing these illiquid risk items feeding into long term deal valuation given the portfolio weights and risk appetite.

• Take ownership of the models used in PnL generation in short-term trading space, ensuring their accuracy and relevance to trading strategies.

• Contribute developing short-term trading algorithms, ensuring they are used effectively and benchmarked against market performance.

• Provide ongoing feedback to the short-term trading teams based on benchmarking results, working with traders to refine their strategies and enhance overall trading desk performance.

• Leverage experience in intraday, balancing, and ancillary services markets to enhance trading strategies and risk management practices.

What we need from you

We are keen to hear from candidates with significant experience either in trading or quantitative analysis of intraday, balancing, and ancillary services markets, with comprehensive asset and product knowledge. We would also like to see the following reflected in your CV:

• Degree in Engineering, Mathematics, Sciences, Economics, or a related field.

• Strong quantitative, commercial, and communication skills.

• Ability to handle large datasets and derive meaningful conclusions for decision making in a fast-paced environment.

• Excellent MS Office skills as well as ability to write scripts in one programming language (preferably in Python)

• Experience in GB or European Intraday Power & Ancillary Services Market Fundamentals is a plus.

If you don't see yourself fully reflected in every job requirement listed on the posting above, we still encourage you to reach out and apply. Research has shown that not everyone often applies when they do not feel 100% qualified. We are committed to creating a more equitable, inclusive, and diverse company and we strongly encourage applicants of all genders, ages, ethnicities, cultures, abilities, sexual orientation, and life experiences to apply. We look forward to receiving your application.

Flexible working

We are keen to support flexible working arrangements, subject to local regulations and legislative frameworks. If this is of interest to you, please describe in your application the type of flexible working arrangements for which you would like to be considered (e.g., part-time, job share).

About Shell UK

Shell is an international energy company that aims to meet the world’s growing need for more and cleaner energy solutions in ways that are economically, environmentally, and socially responsible. It is one of the world’s largest independent energy companies, operating in more than 70 countries.

Shell has a global target to become a net zero emissions energy business by 2050. This means that Shell aims to be net zero on all emissions generated by its operations and the energy needed to power them. The company is working with customers, business, and governments to address emissions across different sectors.

In March 2022, Shell UK announced an ambition to invest between £20 to £25 billion in the UK energy system over the next decade, more than 75% of which is intended for low and zero-carbon products and services including offshore wind, hydrogen, and electric mobility. These investments, which are subject to board approval, aim to propel the UK closer to net zero whilst intending to stimulate economic growth and jobs.

Our people are our greatest asset, and our commitment to your career will see you thrive in a work environment that offers an industry-leading development programme. When your ideas travel, Shell will benefit, and innovation will thrive. Shell has a key role to play in helping meet the UK’s growing energy demand, whilst using innovative technologies to develop cleaner energy. We are one of the largest FTSE 100 company in the UK by market capitalisation and make a significant contribution to the UK economy.

An innovative place to work

There’s never been a more exciting time to work at Shell.

Join us and you’ll be adding your talent and imagination to a business with the ambition to shape the future – whether by investing in oil, gas and renewable energy to meet demand, exploring new ways to store energy, or developing technology that helps the world to use energy more efficiently, everyone at Shell does their part.

An inclusive place to work

To power progress, we need to attract and develop the brightest minds and make sure every voice is heard. Here are just some of the ways we are nurturing an inclusive environment – one where you can express your ideas, extend your skills, and reach your potential.

• We’re creating a space where people with disabilities can excel through transparent recruitment process, workplace adjustments and ongoing support in their roles. Feel free to let us know about your circumstances when you apply, and we’ll take it from there.

• We’re closing the gender gap – whether that’s through action on equal pay or by enabling more women to reach senior roles in engineering and technology.

• We’re striving to be a pioneer of an inclusive and diverse workplace, promoting equality for employees regardless of sexual orientation or gender identity.

• We consider ourselves a flexible employer and want to support you finding the right balance. We encourage you to discuss this with us in your application.

A rewarding place to work

Combine our creative, collaborative environment and global operations with an impressive range of benefits and joining Shell becomes an inspired career choice.

We’re huge advocates for career development. We’ll encourage you to try new roles and experience new settings. By pushing people to reach their potential, we frequently help them find skills they never knew they had, or make career moves they never thought possible.