Miha Štendler
Head Of Trading
Maribor
Summary
Trading professional with strong analytical skills and deep market knowledge. Expertise in risk management, financial modeling, and strategic planning. Known for fostering collaboration and driving results in fast-paced environments. Dependable, adaptable, and focused on aligning team efforts with organizational goals.
Overview
18
18
years of professional experience
2
2
Certifications
Work History
Head of Trading
Holding Slovenske elektrarne d.o.o (HSE)
08.2024 - 06.2025
- As Head of trading, I had to oversees all trading activities withing organization bottom down. One of the most important roles was to develop and implement firms’ strategy on long term and mid-term basis (creating forecasting plan of PNL, Quantities that will be traded financially and physically, personal development and education, VAR changes…).
- Not being able to trade that much, but was responsible for efficiency and best possible result with market risk under control. Being good risk manager is key in this volatile times. As the one who creates the strategy’s, I had to be able to observe the market carefully and identify trading opportunities and risk at all time. It was my job to propose certain deal or to negotiate the terms for some big deal. In these tough times in energy trading, I had to be the one saying when we go for it with bigger risk or when to slow down and wait for things to crystalize. Position requires the head of trading to manage and mentor their personal to become best version of themselves.
- In this period, I tried to connect also different support staff and divisions in order to ensure best possible outcome and day to day operation as smooth as possible, so the focus can be on trading not on operations. I was constantly in touch and developing group with risk department, trying to achieve to set the monitoring system as close to perfection as possible. It is necessary that trader knows their position and exposure at all time.
- After setting this up, it was my duty to control risk limits and exposure, not only for the trading portals but also paying much attention on bilateral trading side. There I had to make sure that every single counterparty was acting in order with the payment terms set in contract. With enlargement of volumes being traded, also responsibilities towards internal controls and compliance raised. We had weekly meeting with compliance in order to prevent some bad decisions. While traders were trading, I was trying to find of what is there that we can make better. Either to cut some unnecessary costs, trading tools optimization, trading support programs, involving new technologies etc. One of my desires was to expand trading activities to different markets such as oil, options etc, but we just started, didn’t manage to fully close the idea.
Senior Power trader
Holding Slovenske elektrarne d.o.o (HSE)
09.2013 - 06.2024
- I was working as senior trader for more than 10 years. My role was to execute day-ahead, weekly, monthly and yearly positions and monitor their exposure and performance. It was necessary to develop and implement own strategy, although the final strategies on corporate level were being discussed with analytics team as well. Those strategies were based on leveraging fundamentals, having good weather models on which you rely and good congestion prognosis on physical flows. Trading on screen involved pure outright position, time spreads between different periods, location spreads between countries and cross commodity trading between two different commodities (mostly power/EUA). I did trade EUA as well on platforms such as ICE and EEX. Another important aspect of trading is the physical one, here we were participating on all major tenders in CEE region (EPS, Kozloduy, HEP, ESM, EPBIH, EPCG, KESH…). On daily basis I was operating on almost all power exchanges in Europe except Ukraine and Nordpool. I do obtain all required certification for every exchange. Physical and financial trading go hand in hand, because you can manage your exposure of position with hedging one with other and you therefore control the VAR and credit limits. Often some physical energy bought or sold on tender, was hedged on screen as financial. Or there was also the option to hedge it with CBC trading either from yearly or monthly level. Those trading strategies combined were my duty on day-to-day business. It was necessary for me to check every time before doing some bilateral trade whether risk team approves this, with high risk in some countries with some partners. Because there is so many participants on the market, I had a privilege to work with basically all brokerage houses that provide power trading. In that case I stayed in touch with all what’s happening on the market, and broker was watching over my positions and let me know what is happening on voice market. While trading part is fun and exciting, I had to be careful also on operational stuff like scheduling and nominations of physical flows. If the mistake happened there, you didn’t earn nothing. So, no room for mistakes there. Lately when I focus completely on long term trading it was urgent for me to start using technical analysis more and more. Also, for this I got proper education and certification from Kollax academy.
Project management
Thermo power plant Trbovlje
01.2012 - 01.2012
- Various analysis from energy sector as well as organisation of EU carbon trading that just came into force. Optimisation of coal supply and other economic analysis.
Analytic
Replika PRO d.o.o
01.2010 - 01.2011
- Main task was to prepare different documentation for various companies that want to obtain finances from EU founds for research and development. I had to coordinate meetings with companies in order to structure correct applications with best possible chance to receive those funds.
Analytic
Bank Of Slovenia (Central Bank)
06.2008 - 10.2009
- Supplying the board with various different analysis regarding banking sector, monitoring other financial markets, helping to control the domestic monetary market, communicating and providing material for ECB (European Central Bank).
Analyst
Association of Employers of Slovenia
02.2007 - 06.2007
- Assistant at negotiations. Preparing the relevant macroeconomic data for supporting the negotiated terms. Translating the bilateral working agreement.
Education
Master of Science - Banking And Financial Management
Faculty of Economics
Ljubljana, Slovenia 04.2001 -
Bachelor of Science - Financial Markets And Institutions
Faculty of Economics
Ljubljana, Slovenia 04.2001 -
No Degree - International Management
EDHEC ESPEME
Nice, France 04.2001 -
Skills
Trading strategies
Certification
Technical analysis
Timeline
Zdruzenje nadzornikov Slovenije
07-2025
Technical analysis
11-2024
Head of Trading
Holding Slovenske elektrarne d.o.o (HSE)
08.2024 - 06.2025
Senior Power trader
Holding Slovenske elektrarne d.o.o (HSE)
09.2013 - 06.2024
Project management
Thermo power plant Trbovlje
01.2012 - 01.2012
Analytic
Replika PRO d.o.o
01.2010 - 01.2011
Analytic
Bank Of Slovenia (Central Bank)
06.2008 - 10.2009
Analyst
Association of Employers of Slovenia
02.2007 - 06.2007
Master of Science - Banking And Financial Management
Faculty of Economics
04.2001 -
Bachelor of Science - Financial Markets And Institutions
Faculty of Economics
04.2001 -
No Degree - International Management
EDHEC ESPEME
04.2001 -