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Energy Risk Management Analyst (Principal)

Location: Rapid City, SD, United States
Job ID: 33530
Date Posted: Jul 15, 2021
Salary: $85450 to $140900 annually

Job Description

Job Specifications

As the Energy Risk Management Analyst for Black Hills Energy, you will be responsible for performing a variety of duties to report and measure portfolio risk in support of the Corporate Trading activities. Your role is to manage the day-to-day Middle Office risk functions of the electric merchant function of our organization, ensuring practices are in full compliance with applicable standards, regulatory requirements, and the company’s risk and compliance policies.  Your role will be integrally involved in the development, implementation, and monitoring of prudent policies, procedures, and programs to address internal and external risk mitigation and compliance requirements.  In addition, you will be specifically responsible for daily risk reporting for electric trading functions to ensure completeness and compliance with risk policies, procedures, and limits, as well as providing risk analysis for proposed transactions.  As a key member of the Risk Management Department, this position plays a major support role to the Corporate Trading functions, Generation Dispatch and Power Marketing area, along with Accounting and Treasury Departments. 

SALARY RANGE:   $85,450 - $140,900  (Determined by the knowledge, skills, and abilities of the applicant.)

REPORTING RELATIONSHIP:   Corporate Trading and Risk Manager, Senior

LOCATION: Our Corporate Headquarters in Rapid City, South Dakota 

  • You’ll find this is the ideal community to live, work and do business in. With hiking trails, the Black Hills, Mount Rushmore and Badlands National Park in your backyard, there are endless opportunities to enjoy nature. To learn more about our locations, please visit the locations page on our career website.
  • A Comprehensive Relocation Plan is offered for this position! Our benefits include but are not limited to home finding trip, transportation of household goods, temporary housing expenses, destination apartment search assistance, paid time off to move, transition and spousal career support, home finder and purchase assistance, relocation adjustment allowance, destination new purchase closing costs. Depending on individual circumstances, our benefit may also include trips home during temporary housing, renter’s lease cancellation assistance, or home marketing and sale closing cost assistance and/or purchase closing cost assistance. Contents of our relocation program are subject to change and may vary based on position.


  • Manage Black Hills’ Middle Office functions, including activity associated with the energy and gas transactions. Develop and maintain risk, analytical, and technology focused assessment, implementation, and management of various energy procurement and risk systems. Contribute to the routine production, dissemination, and analysis of various risk metrics, risk controls, and daily procedures.
  • Monitor trading activities relative to policies, limits and controls and escalate exceptions. Maintain any forward energy curves that are utilized to mark-to-market all energy transactions.  Maintain the Trading Authority Matrix and Risk Policy providing updates as necessary. Review, establish and implement appropriate practices to ensure a complete and accurate representation of transactions is achieved timely/daily.
  • Support administration and negotiation of energy contracts. Monitoring all risks with third parties, prepare reports for monthly risk management meetings where monthly risk reports are explained, and trading violations are reported.  
  • Provide System Administration support for the system of record through IT compliance with access provisioning. Provide oversight and significant input regarding system of record associated with power transactions, including responsibility for monitoring, and maintaining appropriate system access and maximizing system capabilities to minimize manual work, create efficiencies and reduce risk.
  • Liaison with and support Front Office staff in systems, risk control, risk-reporting and governance issues related to the current and proposed portfolios. Responsible for data governance associated with front office transactions, including compliance with Black Hills’ records retention policy.  
  • Provide ad-hoc risk analysis around complex transactions proposed by the Front Office, including the Generation Dispatch and Power Marketing (GDPM) and potential transactions associated with Black Hills’ business development. Run production risk metric models and generate risk reports for review. Perform Mark-to-Market position, and other risk calculations.
  • Ensure the transactions in Black Hills’ energy trading system of record provides a representative picture of the associated risks; analyze actual and potential risk related to trading activities
  • Compile and/or monitor daily reporting to ensure compliance with applicable Risk policies. Includes reviewing power transactions and activity daily for compliance with internal control requirements, Black Hills’ risk policies and applicable laws and regulations, including FERC and NERC regulations.
  • Manage the confirmation process in accordance with Black Hills’ risk policies and best practices.  Responsible for the accurate preparation, review, and processing of confirmations to/from counterparts. 
  • Monitor and maintain the Local Security Authority responsibilities for the regional market access and participation.
  • Maintain a current, solid understanding of requirements associated with company policies, internal controls, and applicable regulatory standards, as well as risk management best practices. Assist the Risk Management department with developing, documenting, and monitoring compliance with risk policies and procedures.
  • Implement risk tools that enable monitoring of market risk of portfolio. Maintain data quality and model governance infrastructure to ensure that risk system data are accurate, and models are appropriately controlled.
  • Provide back-up support to the natural gas Risk Management function on an as needed basis.


  • Participate in and lead internal routine risk meetings and risk management training.
  • Develop and maintain knowledge of energy industry and the risk management practices that may be applicable Black Hills Corporation
  • Participate in industry organizations that address risk management.
  • Assist with and support the implementation of an enterprise-wide data governance program.
  • Other duties as assigned.


  • Minimum of seven (7) years of experience in a utility/energy environment required. 
  • Bachelor’s degree in Business Administration, Finance, Accounting, Economics, Mathematics, or related field required, or equivalent combination of education and experience required. 


  • Strong working knowledge and understanding of energy trading practices, energy risk systems and derivatives
  • Ability to understand risk considerations related to energy trading and the enterprise overall.
  • Understanding of Mark to Market calculations and valuations of forward contract positions
  • Understanding of FERC/NERC regulatory requirements related to marketing operations.
  • Working knowledge of Dodd-Frank swaps regulations.
  • Understanding of the Sarbanes-Oxley regulations and requirements, and how the established controls function within the energy trading area. 
  • Strong understanding of IT system administration and be able to interact with various areas with regards to technology requirements and compliance.
  • Strong understanding of financial and wholesale energy trading markets and the utility construct
  • Strong interpersonal skills with the ability to interact with utility, corporate, and functional partners, external counterparties, vendors, and senior level executives within the organization
  • Must be self-motivated, self-directed, and possess excellent problem-solving skills
  • Have strong time management skills and ability to consistently meet established deadlines.
  • Strong analytical skills, attention to detail and accuracy and quality; able to identify key issues, interpret information and present recommendations and conclusions in a self-confident, clear, and concise manner. 
  • Ability to maintain the highest levels of confidentiality and work independently as well as part of a team.
  • Experience managing and successfully executing projects involving cross-functional teams


The mental and physical descriptions are representative of the activities an employee in an office job performs. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Mental description: Ability to understand, remember, apply oral and/or written instructions or other information, and communicate routine information. Ability to apply common sense in performing job functions, usually within a set of rules or guidelines.

While performing the duties of this job, the employee continuously accesses, inputs, and retrieves electronic information and communicates regarding the information.  Employee frequently moves about the office space. Employee must be able to operate routine office equipment including computers and similar equipment. Must be able to routinely perform this work for an average of 6-8 hours per day and occasional extended hours as necessary. Must be capable of regular, reliable, and timely attendance.

Specific lifting abilities required by this job include: Sedentary work. Exerting up to 10 pounds of force occasionally and/or negligible amount of force frequently or continuously to lift, carry, push, pull or sitting most of the time. Jobs are sedentary if walking and standing are required only occasionally and all other sedentary criteria are met.

Work environment: Must be able to routinely perform work indoors in climate-controlled shared work area with moderate noise level. Must be capable of occasional travel (less than 10 days per year) by automobile (as driver and passenger), commercial airlines, rental vehicles and public transportation and be able to lodge in public facilities.

This description is not intended to be an all-inclusive list of responsibilities, duties, and requirements for employees in this position. Job descriptions may and do change periodically. Where positions are covered by a collective bargaining unit agreement, the terms and conditions of the collective bargaining unit agreement will apply.

About our Company: We are a customer focused, growth-oriented utility company that is devoted to our communities. We have a mission to improve life with energy and a vision to be the energy partner of choice. Our diverse culture sparks unique perspectives, opening doors to new ideas and possibilities. Based in Rapid City, South Dakota, we have over 2900 employees and serve 1.2 million natural gas and electric utility customers across eight states (South Dakota, Montana, Wyoming, Colorado, Nebraska, Iowa, Kansas, and Arkansas).

Enjoy our Comprehensive Benefits Package: annual incentive program (based on percentage of eligible earnings), 401(k) (6% company match and up to 9% company retirement contribution), tuition reimbursement, paid time off, additional Veteran PTO, military leave differential pay, paid holidays and annual floating holidays, company paid short term and long term disability, paid maternity and paternity benefits, health and wellness program, and competitive medical, dental and vision insurance.

Candidates must successfully pass a pre-employment drug screen and background check. 

Black Hills Corporation does not sponsor applicants for work visas. All applicants must be legally authorized to work in the US.

Black Hills Corporation is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, age, or status as a protected veteran.

Wage: 85450 to 140900
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Thinking of Relocating?

Rapid City, South Dakota
You'll find that it is the ideal community to live, work and do business in. With hiking trails, the Black Hills, Mount Rushmore and Badlands National Park in your backyard, there are endless opportunities to enjoy nature.

Energy Risk Management Analyst (Principal)

Rapid City, SD, United States