Procurement Risk Analyst

Octopus Energy

  • Full Time

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Help us make a big green dent in the universe
We’re on a mission to drive the global renewable energy revolution, and we need loads more people to help us make our vision a reality.
Globally, energy markets are going through unprecedented change with rapid development of renewable energy technologies, the introduction of battery storage, demand side response (DSR) initiatives and a growing range of in-home energy management technology, as well as the roll-out of Smart meters into consumer’s homes. These developments create significant opportunities for agile market participants that are able to harness the burgeoning
data flows and respond quickly to changes in customer demand and market signals.
Amongst this opportunity, there is also significant and growing risk. Wholesale energy is the largest cost that Octopus pays, and also carries the greatest volatility. It’s essential that we have a clear understanding, both of the risk that we are exposed to but also the opportunities to manage and mitigate. We have put a lot of time into building smart
technology to manage our exposure – delivering powerful automated solutions rather than recruiting a large time to perform repetitive mundane tasks. This is an exciting opportunity for a talented analyst to join our procurement team and continue to develop the toolsets we use to manage our risks.

What you’ll do

    • Continuously monitor wholesale markets and our hedge position, ensuring that hedges are quickly placed to fill any exposures.
    • Think about cleanest ways of reporting and visualising hedge position and wholesale risk. Either build these solutions or spec with the procurement tech team as appropriate.
    • Think creatively around how different factors impact our risk position. How do exposures change if we have a period of cold weather?
    • Work closely with the Energy Trader, and cover execution of wholesale trades when they are unavailable
    • Work with many other Octopus teams to provide procurement numbers and insight (including strategy, finance, data science, pricing etc)
    • Work with the data science team to develop forecast and optimisation models.
    • Work closely with peers in our global businesses to share experience and best practise, and deliver a consistent approach to risk management

What you’ll have

    • Very bright, highly numerate, ability to handle multidimensional concepts
    • Strong statistics, data analysis and data visualisation skills
    • Experience using Python (Pandas, NumPy, Jupyter) and SQL in a version controlled environment
    • Strong analytical skills coupled with an ability to think strategically. Sometimes we may need to act quickly
    • Comfortable with responsibility and making potentially high-impact decisions
    • Excellent verbal and written communication skills
    • Knowledge of APIs and machine learning models is beneficial but not essential

What you’ll love about us

    • Our company culture – we won best company to work for in 2019 and our CEO, Greg has recorded a podcast about our culture and how we empower our people
    • Flexible working environment – genuine work life balance here, we are in the top 5 companies in the UK, we treat you as a human, and do our best to make work and life merge smoothly together
    • Relaxation – we don’t count your holidays here, we work hard, and so we know you need to play hard as well (within reason of course)
    • Equity Options Scheme – you own your own part of the business, share options in the whole Octopus Energy Group so we all work together towards success
    • Office culture – have a certain tech requirement? We’ll do our best to get it. Our offices are also stocked with fruit, breakfast, great coffee and soft drinks. Weekly on a Friday we all get together (this happens virtually too) for company updates and drinks – we call it Family Dinner
    • Social Events – we sponsor YeoValley’s summer festival, valleyfest, every year for our big offsite Summer party (we take our kids too) and we also aim to have 3 parties a year
    • Parents – get access to tax free childcare and maternity and paternity pay.  We’re always looking for new ways to support parents, during lockdown we created OctoKids TV to help keep your kids occupied and entertained
    • Your development is important – we support and help with development including internal and external courses, learning, study support etc, all bespoke to you
    • SmartPension Scheme – employer 5% employee 3% and you can contribute more
    • Cycle to Work Scheme – to help lower your carbon footprint whilst good for your health
If this opportunity sounds like you and you have a genuine passion for what we’re doing at Octopus Energy then we’d love to hear from you.
More about us
We believe energy should be better – for you and the environment. 
We’re a leading energy technology company providing a better experience for our customers through transparency, honesty and simplicity. Better for the planet, through real long-term investment in renewable generation and a low CO2 future. Better value, by throwing away the old business models of the “Big 6” and instead building a business that’s fit for the 21st century. We make energy green and flexible for consumers, with fair and transparent pricing. Through our home developed platform, Kraken Technology, cloud-based billing, and sophisticated use of data science, modelling and AI, we’re redefining what is possible in energy.
Our breakthrough Agile tariff has been widely reported as leading the way in energy innovation, and we’re passionate about fairness – we were first to uncover the widespread strategy of energy company tease and squeeze pricing and following on from this campaign, our CEO and Founder Greg Jackson presented evidence in favour of capping energy tariff prices before the bill committee in Parliament.
We already supply 100% renewable energy to 2 million+ homes and over 20,000 businesses (including Arsenal FC and the Cardiff Blues to help them power their stadiums with 100% renewable energy) throughout Great Britain and we’re also the supplier behind M&S Energy. We’re award winning for our disruptive technology and are delighted to be the only energy supplier to pass the rigorous Which? customer service tests and be their only recommended energy supplier for 4 years in a row.
We also proudly enjoy a 5-star TrustPilot ranking from our customers.  We were named the Company that’s done the most in the past year to advance UK renewables at the REA Awards 2019, and most recently, our proudest award, that of Best Company to Work For.  Our group includes Octopus Energy, Octopus for Business, Kraken Technology, Octopus Electric Vehicles and Octopus Energy Services as well as our new net zero Centre – Octopus Centre for Net Zero. 
We recently secured over £500 million of investment from Origin, Australia’s largest Energy Company andTokyo Gas, to help us continue on our mission.
At Octopus, we’re looking for genuinely decent people who are honest and empathetic. Our commitment is to provide equal opportunities, a diverse and inclusive work environment, and fairness for everyone. You are welcome to apply no matter your race, gender identity, sexuality, age, family or civil status, disability, religion, or ethnicity.
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