Vattenfall is a European energy company with approximately 20 000 employees. For more than 100 years we have electrified industries, supplied energy to people's homes and modernized our way of living through innovation and cooperation. We now want to make fossil-free living possible within one generation. To be able to reach this ambitious goal we are looking for talented individuals who, in addition to their passion for their own role, also have strong team spirit and want to contribute to supporting a meaningful corporate mission.

Business Area (BA) Markets' role in Vattenfall is to maximize the value of the overall portfolio by optimizing and dispatching, hedging and sourcing for Vattenfall's sales and generation volumes. We serve as Vattenfall's single access to energy commodity markets and trade electricity, emissions, fuels, freight, and renewable certificates. We employ around 500 professionals who are active across Europe with offices in Sweden, Germany, The Netherlands and the United Kingdom.

Within Markets the Business Unit (BU) Trading is the energy trading hub of the Vattenfall Group. BU Trading is responsible for all trading activities around Vattenfall's asset and customer flows to maximize value creation and improve sourcing costs. It provides market access services for the Vattenfall Group - which means managing all hedging flows, from generation assets or customers, by Market Access. Next to handling our flow business, BU Trading also has a proprietary mandate.

We have a culture of care and growth. You will collaborate with inspiring people around you, on complex and interesting topics. Together, we drive the energy transition and contribute to a journey towards becoming fossil-free.

At Vattenfall, we don't just “do energy”, we exist to help our customers power their lives in ever climate smarter ways and free from fossil fuel within one generation. If you are looking for interesting challenges and the opportunity to be part of this change, then join our diverse and talented team and make a difference.

Our Business Area (BA) Markets is looking for the right person to fill the position as

(Junior) Middle Office Manager

for our office in Hamburg.

As (Junior) Middle Office Manager for Vattenfall's Business Area Markets (BAM) you will be the expert regarding counterparty individual measures that reduce risk and enable business. This can include Guarantees, Master Netting Agreements or Credit Risk reductions via the implementation of Credit Support Annexes. For this you act as an agent between our external business partners (customers & counterparties) and Vattenfall's internal Risk Functions and Legal.

You organize and align Novations and Early Terminations / Close Outs. This you ideally not only do reactively on request by a business partner but also proactively because you anticipate a need approaching (e.g. a Trading Limit running full).

You will be part of a team of three together with the (Senior) Middle Office Manager and the Head of Business Development in BU Trading and may be asked to support either of the two in ad hoc tasks. Organizationally you will report to the Head of BU Trading, while the day-to-day operational activities of the team are coordinated by the Head of Business Development.

Your key responsibilities:

• Be the expert regarding risk reducing / trading enabling activities with (existing) BAM counterparties / customers
• Negotiate Guarantees we require together with Vattenfall's Credit Risk Department
• Organize Guarantees BAMs Counterparties might require from Vattenfall
• Act as agent for the setup of MNAs and CSAs between Risk, Legal and our business partners
• Analyze our contractual fundament (esp. MNAs & CSAs) with respect to optimization potential
• Orchestrate (Credit) Risk reducing Triangulations, Novations and Early Terminations / Close Outs together with the (Senior) Middle Office Manager
• Collect / request financial information from counterparts to support (annual) Credit Checks
• Prepare REMIT/EMIR (Robo) agreements with counterparties that need Vattenfall's support regarding ACER reporting
• Support the (Senior) Middle Office Manager and Head of Business Development in ad hoc tasks

• Strong academic background with a Master's degree in a relevant field
• Solid understanding of Credit & Liquidity Risks. Experience working in a Risk Function is of advantage
• Strong communication skills with the ability to communicate with various internal stakeholders
• Good understanding and experience in the whole energy commodity complex
• Fluency in English and German is required
• Entrepreneurial mind-set with willingness to develop and position this newly created function
• Result oriented, independent working method with high reliability and readiness to take on responsibility

Your development is a priority at Vattenfall BA Markets. Your professional journey will benefit from working in the exciting industry of energy trading, and in interdisciplinary teams. To support your career, we offer opportunities to grow through training, job rotations, talent programs and a working environment that stimulates learning.

Our work culture at Vattenfall is excellent. We have an open corporate culture with flat hierarchies. Modern and flexible working conditions, including mobile work, promote wellbeing. In Germany, our work week consists of 37.5 hours with, in many cases, the possibility to work part-time. Up to 49% of your working time can be mobile work, and you are entitled to 30 days of vacation per year.

Your health is important to us. We provide several health programs and support throughout potentially challenging life situations.

Your colleagues will be another highlight. We employ inspiring people with diverse backgrounds. Together with our culture and your tasks, they form an interesting and fun place to work.

Additionally, we offer retirement planning with a company pension scheme, a subsidised public transport ticket and a job bike. Mid of 2024, we will move into our new state of the art building next to Elbbrücken. Until then you can find our office in the heart of Hamburg.