Quantitative Risk Analyst

Milan, IT /
Octopus Energy Italia 🇮🇹 – Data /
/ Hybrid
Octopus Energy Group has gone from a tiny startup supplier to a global leader. Since just 2016 we've become a global energy tech company launched in the UK and we're now made of 10 businesses, in 13 countries around the world, with over 5 million customers, with 25 million contracted accounts for our entech platform, Kraken. Through that relentless growth we still put customers at the heart of everything we do. That's how we've got five stars on TrustPilot based on over 100,000 customer reviews and why consumer champions “Which?” have named us a Recommended Provider for the last five years in a row. We've also reached 4.7 on our Italian Trustpilot.

We're fighting to make energy fairer, more affordable, greener and more accessible for all. 

We're shaking up the energy market and decarbonising our planet, using technology to unlock the green energy revolution. Our global energy revolution is backed by Generation, the sustainable fund co-chaired by Al Gore.

Octopus Energy Italia is targeting to grow to up to 1 million customers by 2025 - gaining 5% of the market. To do this we need to grow with passionate people to help us do this, we have diverse roles ready to be filled across our Italian teams and need authentic, committed people for a wide range of roles
We're in a start-up phase which means that you will be able to shape the future of energy in Italy from day one.

If you want to be a part of a collaborative, challenging and forward thinking culture: join us!


We have an amazing opportunity for a Quantitative risk analyst to join our Data team in Italy.
You will be responsible for accurate and complete management of all short and long-term wholesale risks by creating and own Octopus Energy Italy Risk Policy in line with Octopus Group risk appetite, with ongoing review and development as the business grows and the market evolves.

What you'll do

    • Commercially manage relationships with key suppliers of wholesale gas and electricity
    • Calculate and execute trades to ensure compliance with risk policy
    • Continuously monitor short-term markets and trade execution to ensure that positions are sufficiently covered
    • Report on VaR under a range of outlooks (winter storms/summer heatwaves / etc)
    • Monitor trading activities and adequate risk exposure by analysing markets while mitigating risk through hedging
    • Ensure that trade execution is in compliance with our best execution policy
    • Measure the impact of new features by conducting quantitative and qualitative analyses
    • Obtain the best pricing and execution for us and our clients by communicating with liquidity providers
    • Keep abreast of the latest legislation and best practices regarding risk management
    • Assist in the development or acquirement of risk management tools and systems to manage the data required for efficient day-to-day operations, including policy, claims, program costs and carrier data.Work with Data Science team to develop demand forecasts and monitor accuracy
    • Work with Data and Pricing colleagues to ensure tariffs and cost forecasts accurately capture up to date wholesale costs
    • Make proposals on generation, flexibility, or DSR initiatives that will support risk management and innovative ways to deliver genuine renewable supply
    • Continuously challenge processes and deliver improvement/automation, or spec improvements/automation for delivery by the Tech team

What you'll need

    • Experience working in several Electricity supply markets a big advantage but not essential
    • Strong analytical skills coupled with an ability to think strategically
    • Experience with Python and SQL
    • Experience managing and reporting on financial risk
    • Flexibility to grow and adapt as the business grows
    • Able to challenge with empathy and support  as required at times as we develop the business
    • Comfortable with some ambiguity (our world is changing fast)

Why else you'll love it here

    • Octopus Energy is a unique culture - An organisation where people learn, decide, and build quicker. Where people work with autonomy, alongside a wide range of amazing co-owners, on projects that break new ground. We want your hard work to be rewarded with perks you actually care about!
    • Flexible working environment - genuine work life balance here, 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. Weekly on a Friday we all get together (this happens virtually too) for company updates and drinks - we call it Family Dinner
    • Your development is important - we support and help with development including internal and external courses, learning, study support etc, all bespoke to you
Studies have shown that some groups of people, like women, are less likely to apply to a role unless they meet 100% of the job requirements. Whoever you are, if you like one of our jobs, we encourage you to apply as you might just be the candidate we hire. Across Octopus, we’re looking for genuinely decent people who are honest and empathetic. Our people are our strongest asset and the unique skills and perspectives people bring to the team are the driving force of our success. As an equal opportunity employer, we do not discriminate on the basis of any protected attribute. Our commitment is to provide equal opportunities, an inclusive work environment, and fairness for everyone.