Treasury Markets & Group Trading Risk Manager
Reporting to: Group Treasurer, ESB
Role Context
ESB is a purpose led company striving to create a brighter future for the customers and communities we serve, leading the transition to reliable, affordable, low-carbon energy. Today, we operate one of the most progressive electricity systems in the world, with activities spanning electricity generation, transmission, distribution and supply in Ireland, Northern Ireland and Great Britain, and an international energy consulting business.
With a direct workforce of over 9,500 employees we invested €1bn in infrastructure last year, contributed over €2bn to the economies we operate in and distributed over €2m across a range of community initiatives. This requires us to bring the best of our capabilities together to deliver innovative and value-driven solutions that enable our customers to live low-carbon lives. ESB strives to foster an effective and inclusive culture where people engage, challenge and feel connected to our purpose, colleagues, customers and community.
Role Purpose
- Maintaining ESB’s strong credit rating and building relationships with debt investors across UK, Europe and US
- Raising external funding to support ESB’s strategy and investment plans from diverse range of funding sources as well as managing the existing €7bn debt portfolio
- Managing ESB’s treasury related financial risks, including interest rate, foreign exchange, inflation-linked and counterparty related risks
- Overseeing trading risk management at a group level
The Treasury Markets & Group Trading Risk Manager will play a key role, working as part of the Group Treasury team, managing and overseeing the group’s treasury and trading risks the group is exposed to in line with policies approved by the ESB Board supporting ESB’s NetZero strategy.
This position will provide the successful candidate with the opportunity to develop/enhance their skills across all areas of Treasury with a specific focus on treasury risk and trading risk solutions.
Key responsibilities
- Identify and mange ESB’s foreign exchange (FX), interest rate and inflation-lined risks, proposing Group policy for Group Treasury Finance Directorate and Board approval
- Management and execution of daily FX exposures and hedging requirements and negotiation and execution of large scale FX and interest rate and inflation related transactions with a broad range of international banks
- Negotiate ISDAs and related master agreements with ESB counterparties
- Work closely with ESB business units (project teams, commercial and finance) to ensure that all future development / investment options are appropriately de-risked with respect to FX, interest rate and inflation.
- Monitor and manage the consolidated energy trading positions of ESB Group, primarily Generation Trading and Customer Solutions, and ensure the Group’s trading risk profile is understood.
- Working with Business Unit trading risk management teams and the Group Trading Committee(s) (GTC) to facilitate the development and implementation of an appropriate Group Trading Risk Management policy and framework
- Develop and provide risk reporting for senior management, the GTC and other stakeholders are required
- Partnering, though building and maintaining strong working relationships, with ESB’s businesses to ensure treasury risk and trading risk is effectively managed at a group level. This will include working as part of cross-business project teams.
- Developing and managing relationships with a diverse range of banks and market participants.
- Identifying, assessing and executing flexible financial solutions for stand-alone projects across the Group
- Ensuring tax, accounting, credit rating and legal implications are considered in each solution
- Contributing to the delivery of other treasury initiatives as required as part of the core Treasury team
- The successful candidate will have the opportunity to work and progress in a dynamic environment and enhancing their understanding of key treasury disciplines while assisting in the achievement of ESB’s strategic objectives.
Skills, knowledge & experience:
- Qualified Accountant/CFA qualified with minimum 10 years PQE
- Prior treasury or banking experience, ideally with a risk management focus
- Working knowledge in tax, accounting, insurance, treasury and legal issues related to large infrastructure projects/companies
- An understanding of Irish and UK energy trading markets would be considered an advantage.
- Experience in management of teams, recruitment, people development and performance management / review.
- Transaction experience including working as part of a multi-disciplinary team, managing advisors, influencing others and managing external / internal stakeholders
- Flexibility to adjust and thrive in an environment with changing requirements, schedules and priorities for multiple projects or assignments.
- Ability to clearly and concisely express information (or data) to non-technical associates, peers and management.
- Experience in maintaining good relationships with key stakeholders, banks, etc.
- Strong interpersonal, communication and influencing skills
- Ability to work collaboratively with senior management and within a team
Location
This position is based in ESB Head Office, 27 Fitzwilliam Street Lower, Dublin 2.
ESB is committed to smart working – combining digital tools with a culture of trust and empowerment to enable flexible ways of working. The successful candidate may work flexibly within their jurisdiction with attendance at the workplace for in-person collaboration on at least one anchor day per week. All smart working arrangements are subject to policy, manager approval and ongoing review, based on the operational requirements of the role, the team, and the individual.
Why ESB?
- Opportunity to lead and operate on frontline of Ireland’s transition to net zero future
- Career development through mentoring, and training
- Corporate Social Responsibility Opportunities
- Active Social & Sports Clubs
- Networking opportunities
- Credit Union
- Generous Pension Contributions
- Access to Staff Well Being programmes
- Generous parents leave entitlements
- Great team environment working to our Core Values – Courageous, Caring, Driven and Trusted
- ESB has a comprehensive Diversity and Inclusion Programme
Closing date: 29th January 2025
Note: Applicants who anticipate requiring assistance or reasonable accommodations for any part of the application or interview process may contact, in confidence, recruitment@esb.ie