VP, Risk Management

Are you ready to be part of a company that’s not just talking about the future, but actively shaping it? Join The AES Corporation (NYSE: AES), a Fortune 500 company that’s leading the charge in the global energy revolution. With operations spanning 14 countries, AES is committed to shaping a future through innovation and collaboration. Our dedication to innovation has earned us recognition as one of the Top Ten Best Workplaces for Innovators by Fast Company in 2022. And with our certification as a Great Place to Work, you can be confident that you’re joining a company that values its people just as much as its groundbreaking ideas.

AES is proudly ranked #1 globally in renewable energy sales to corporations, and with $12.7B in revenues in 2023, we have the resources and expertise to make a significant impact as we provide electricity to 25 million customers worldwide. As the world moves towards a net-zero future, AES is committed to meeting the Paris Agreement’s goals by 2050. Our innovative solutions, such as 24/7 carbon-free energy for data centers, are setting the pace for rapid, global decarbonization.

If you’re ready to be part of a company that’s not just adapting to change, but driving it, AES is the place for you. We’re not just building a cleaner, more sustainable future – we’re powering it. Apply now and energize your career with a true leader in the global energy transformation.

We are seeking a Vice President of Risk Management for a pivotal role in strategically guiding the growth of our US Renewables business. This position involves anticipating and navigating existing and emerging risks with expert proficiency to address challenges impacting our company, community, and customers. Reporting to the CFO of US Renewables and the Global VP of Risk Management, this role will lead a growing team of over ten professionals overseeing market, credit, trading operational and wider enterprise risk management, with a focus on comprehensive risk governance for AES’ US asset portfolio. This role collaborates closely with diverse functional teams across the AES Clean Energy organization and is instrumental in driving the business’s expansion, operations, and future development. AES Renewables is committing over $5B annually to operationalize multiple GWs, with the risk management function being crucial for these investment decisions and the delivery of structured products after operations.

Principal Duties and Responsibilities:

As VP of Risk Management, your responsibilities include:

• Overseeing quantitative risk, market risk, credit risk, and governance functions within the US Risk Management Team.
• Leading a team of risk professionals, including goal setting, performance monitoring, coaching, prioritization, and other managerial tasks.
• Governing the US Risk Management Committee to ensure efficient transaction approvals.
• Collaborating with Commercial, Development, and the Corporate Risk Team to support business growth and new commercial activities.
• Providing guidance and oversight on:

• Transaction impacts on Market Risk (VaR, Position Limits, Stress Testing).
• Counterparty credit review, monitoring, and approval.
• Working capital and cash exposure (MPE, PFE).
• Enterprise risk management (Market, Operational, and Financial Risks).
• Project and warehouse insurance management.
• Supporting the preparation and approval of an annual Market Management Strategy defining risk appetite and delegation for the VP of Risk Management.

Reviewing and approving the risk attributes of investment opportunities and new structured products aligned with the market management strategy.

Constructively challenging trading, development, and M&A activities to ensure policy compliance and alignment with strategy.

Fostering a culture of transparency around risk-taking.

Delivering reporting and analytics providing insights into AES’ renewable asset portfolio.

Regularly updating senior management and the board of directors on exposures, risk management efforts, and enterprise risk.

Qualifications:

• Over 10 years of relevant experience in Commercial or Risk Management within the US power markets.
• Experience leading a team of 5+ members.
• Bachelor’s degree in Finance, Economics, Math, Engineering, Sciences, or equivalent.
• Understanding of market risk management and portfolio theory, principles, and measurement concepts including Value-at-Risk, Cash Flow-at-Risk, stress reporting, and other risk measures like Back Testing analysis. Experience with developing mitigation plans for identified risks.
• Knowledge of maximum potential exposure and potential future exposure concerning commodity hedging and interest rate hedging activities.
• Understanding of counterparty credit assessment and creditworthiness determination.
• Familiarity with Enterprise Risk Management frameworks.
• Competence in reporting/analytics and experience with ETRM systems.
• A collaborative team player eager to learn and teach alongside team members.
• Effective communicator with a history of successful collaboration.
• Ability to explain complex models and transactions clearly to non-technical audiences.
• Self-motivated with intellectual curiosity about changing market fundamentals.
• Self-directed with the ability to perform well under tight deadlines.

AES is an Equal Opportunity Employer who is committed to building strength and delivering long-term sustainability through diversity and inclusion. Respecting all backgrounds, differences and perspectives enables us to improve the lives of our people, customers, suppliers, contractors, and the communities in which we live and work. All qualified applicants will receive consideration for employment without regard to sex, sexual orientation, gender, gender identity and/or expression, race, national origin, ethnicity, age, religion, marital status, physical or mental disability, pregnancy, childbirth, or related medical condition, military or veteran status, or any other characteristic protected under applicable law. E-Verify Notice: AES will provide the Social Security Administration (SSA) and if necessary, the Department of Homeland Security (DHS) with information from each new employee’s I-9 to confirm work authorization.