ROLE SYNOPSIS This role sits within the IG Commodity Risk team and is a key control position within the Commodity Risk and Integrated Supply & Trading Finance organization. We are looking for someone to be accountable for providing deep business understanding on risk measurement and control through development and maintenance of robust risk measurement models, analysis of market conditions and trading positions, and interpretation and improvement of risk and control policies and procedures. You will also hold the primary interface into the trading team and will need to balance independence with a business enabling partnership. This position requires a deep understanding of the activities within Commodity Risk Analytics to meet the team's core accountability of delivering independent analysis and reporting.
IST fosters a diverse and inclusive workplace for all employees. We are proud of our stance on fairness, equal opportunity and meritocracy, which focuses on all of our employees reaching their full potential
KEY ACCOUNTABILITIES Reporting to the LNG Commodity Risk Manager, you will:
Own and drive modernization of MVaR and Stress processes
Improve and develop market risk measurement models and methodologies
Analyse and report daily MVaR, exposures, and stress tests; providing explanations of why these numbers have changed and interact with Front-Office in understanding the trading strategies underpinning the risk that is being measured
Deliver timely, rigorous, and accurate reporting and analytics that provide insight into risks of IST's business activities to support business decision-making and strengthen the control environment.
Provide market risk input required as part of the process through which new activities and projects considered by the Front Office are being evaluated and approved by IG
Provide constructive challenge to trading activity to ensure it is compliant and aligned to intended trading strategy.
Work daily with Finance Analytics, ensuring adequate risk discipline and control prevails in IG
Interpret IST's MTM and market risk policies and ensuring their applications in IG.
ESSENTIAL EDUCATION A University degree in a quantitative discipline is a requirement. Advanced degree in finance, economics, mathematics, science, engineering, etc. is highly desirable. Professional qualification in financial analysis (e.g. CFA), risk management (e.g. FRM, ERP, or PRM), business or operations research is also desirable.
ESSENTIAL EXPERIENCE AND JOB REQUIREMENTS
We are looking for a team player, able to operate within a complex and dynamic trading business, with interpersonal, communication and decision-making skills, coupled with the business insight and sound commercial discernment to build credible relationships across the business.
You will need strong analytical skills including the capacity to understand and communicate complex transactions with embedded optionality and the ability to assess the market risk impact of those transactions on an existing portfolio. This will require strong numeracy and advanced Excel or Python skills, to develop valuation and risk models for a wide range of derivatives.
Familiar with the basic principles of market risk measurement and control, you will understand the alternative methods available to calculate value-at-risk, define appropriate risk factors, account for non- linear instruments, etc.
A deep understanding of the practical difficulties/limitations of MVaR and other risk measures (volumetric limits, Greeks, etc) will serve you well.
You should have a sound understanding of the need for a robust risk management framework in a trading environment including how risk limits should be set and controlled in order to ensure that the organization only takes the risks it is comfortable with.
A deep understanding of the fundamentals of energy trading, including extensive familiarity with derivatives and other trading instruments, will be an asset. This includes a wide knowledge and good understanding of energy trading markets (LNG especially) and various instruments
Your ability to deploy a variety of communication styles according to the situation and communicate effectively with partners and peers will be vital.
You should be ready to demonstrate your attention to detail and ability to work within a very deadline orientated environment
DESIRABLE CRITERIA AND QUALIFICATIONS
Proven understanding of global LNG market drivers, physical assets, and fundamentals
Relevant experience preferably in LNG or Gas Europe Product Control, Market Risk, or Trading roles
Professional qualifications in financial analysis, risk management, accounting, or equivalent areas
Relevant market risk, middle office, or trading experience, acquired working either within BP or at a firm
Internal Number: 5472829
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