Risk Manager

Job summary

The Risk Manager leads the identification, assessment, and mitigation of financial, market, and operational risks across oil and gas trading activities. This includes developing risk methodologies, overseeing limit governance, and partnering with finance and legal teams to protect enterprise value.

Job details

WE’RE HIRING! Risk Manager Calgary, AB Alberta Petroleum Marketing Commission (APMC) is a Crown agent established under the Petroleum Marketing Act to enhance the value of Alberta’s petroleum resources. Acting on government direction, the APMC manages the province’s royalty share of petroleum, oversees Alberta’s interest in the Sturgeon Refinery, and leads commercial ventures that support industry growth and benefit Albertans. The Risk Manager leads the identification, assessment, and mitigation of financial, market, and operational risks across trading and broader oil and gas business activities. This role integrates advanced quantitative risk analysis with financial oversight, including derivatives and hedging strategies, to ensure organizational exposures remain within defined risk tolerances. The Risk Manager will provide strategic direction on risk management practices, oversee reporting and compliance, and partner closely with trading, finance, accounting, and legal teams to support informed decision-making and protect enterprise value. As an arm’s-length corporation of the Government of Alberta, the APMC is driven by performance, accountability, and innovation. Our team of professionals works with purpose and integrity to advance Alberta’s energy future. Join APMC and help build a responsible, innovative, and resilient future for Alberta—one decision, one project, one partnership at a time. RESPONSIBILITIES: Key Areas of Responsibility * Lead enterprise-wide identification and assessment of market, credit, liquidity, operational, and financial risks. * Develop and apply risk methodologies (e.g., VaR, stress testing, scenario analysis, P&L attribution) and maintain risk frameworks and models. Independently monitor and challenge trading exposures and key risk indicators (KRIs), ensuring alignment with risk tolerance, policies and internal controls. * Oversee limit governance including reviews, escalation protocols and remediation. * Validate commercial risk/return profile of new and existing strategies; challenge and validate front office risk assumptions. * Assess and monitor counterparty credit exposures, including limits, collateral, and creditworthiness * Deliver risk reporting and insights to senior leadership to support decision-making, including Board-level reporting inputs * Partner with front office to evaluate physical and financial transactions, design and implement risk mitigation strategies, including hedging programs, limits, and portfolio diversification. * Develop, implement and enforce market risk and trading governance policies and procedures. * Provide leadership by fostering a culture of performance, integrity, and collaboration; support team members through training, coaching, and development to ensure they have the skills and resources needed to succeed; and attract, develop, and retain top talent to build a high-performing team aligned with organizational goals. Secondary Areas of Responsibility * Assess commodity price volatility, foreign exchange exposures, counterparty risk, and operational disruptions and define appropriate mitigation actions including hedging, limit adjustments, escalation, and reporting. * Ensure data integrity and alignment across risk systems, controls, ETRM configurations and reporting processes. * Partner with trading, finance, accounting, and legal teams on risk assessments for transactions and initiatives. * Support forward-looking analysis through scenario modeling that reflects marketing dislocations, operational constraints and liquidity considerations for risk-based decision support. Other Areas of Responsibility * Ensure compliance with regulatory requirements (Certificate of Origin, cross border customs, Royalty In-Kind regulations), IFRS (derivatives reporting, hedge accounting) and internal policies. * Promote best practices in risk management, governance, and controls across the organization. * Lead or contribute to special projects and initiatives to enhance risk capabilities and organizational awareness. * Other responsibilities as required. QUALIFICATIONS: * All applicants must be legally entitled to work in Canada at the time of application. * A minimum of 8+ years of progressive risk management experience, ideally within oil and gas trading and/or financial risk environments. * Undergraduate degree in Finance, Accounting, Economics, Mathematics, or a related field. Master’s degree or professional designation (CFA, FRM, PRM) considered an asset. * Ability to prioritize and perform under tight timelines in a fast‑paced, market‑driven environment. * Strong expertise in both quantitative risk analysis and financial/hedging strategies. * Deep understanding of oil and gas market dynamics, including pricing, liquidity, and geopolitical risks. * A strong understanding of how physical and financial deals flow through risk, P&L and exposure. * Experience with derivatives, hedging programs with hands-on experience in valuation and risk modeling. * Advanced analytical, modeling, and problem-solving capabilities. * Familiarity with forward curve construction, pricing indices (Platts, Argus) and market data integration. * Proven ability to communicate complex risk concepts to non-technical stakeholders, including senior executives. * Strong collaboration and stakeholder management skills- able to build trusted relationships across trading, operations, finance, legal and senior leadership while maintaining clear segregation of duties. * Advanced proficiency in Microsoft Office; experience with risk systems is an asset (Quorum, Allegro, RightAngle, etc.). * Programming skills (Python, SQL) and/or professional designation (CPA, CFA, FRM) considered an asset. WHY WORK WITH US? At APMC, we offer more than just a job—we offer a career with purpose. Join a team that values innovation, integrity, and impact as we help shape Alberta’s energy future. What You Will Get: * Immediate Vacation: No waiting period—your time off begins when you do. * Comprehensive Benefits: Health, Dental & Wellness support including Health Spending Account. * Hybrid Work Model: Remote Mondays and Fridays. * Flexible Support: Benefits that adapt to your lifestyle. * Meaningful Work: Be part of a team that manages Alberta’s natural resources with accountability and vision, helping shape the province’s energy landscape.

What you’ll do

The Risk Manager leads the identification, assessment, and mitigation of financial, market, and operational risks across oil and gas trading activities. This includes developing risk methodologies, overseeing limit governance, and partnering with finance and legal teams to protect enterprise value.

Requirements

Requires a minimum of 8+ years of progressive risk management experience in oil and gas or financial environments and a bachelor's degree in a quantitative field. Expertise in derivatives, hedging, and quantitative risk modeling is essential.

Benefits

• Immediate Vacation
• Health Insurance
• Dental Insurance
• Wellness Support
• Health Spending Account
• Hybrid Work Model
• Flexible Benefits

Listed skills

• assessment · Preferred
• Teams · Preferred
• management · Preferred
• Reporting · Preferred
• Accounting · Preferred
• analysis · Preferred
• Health · Preferred
• Risk Management · Preferred
• Energy · Preferred
• Leadership · Preferred
• responsibility · Preferred
• Collaboration · Preferred

Other relevant skills

Identified from the job description. Confirm important requirements above.

• Quantitative Risk Analysis
• Financial Hedging Strategies
• Market Risk Management
• Credit Risk Assessment
• VaR
• Stress Testing
• Scenario Analysis
• P&L Attribution
• Derivatives Valuation
• Counterparty Credit Monitoring
• ETRM Systems
• Stakeholder Management
• Regulatory Compliance
• Financial Modeling
• Oil And Gas Market Dynamics
• Risk Governance

Job areas

• Finance & Accounting
• Energy
• Management & Leadership
• Government & Public Sector
• Data & Analytics

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