Job summary
Entity:
Finance
Job Family Group:
Finance Group
Job Description:
The role of Commodity Risk Lead is a key analytical and control position within the Commodity Risk function under Finance & Risk that sits within the Trading & Shipping (T&S) business; in the Global Gas and Power business. This role is accountable for providing deep business understanding and control through the delivery of valuable reporting and analysis. This role holds the primary interface into the trading front office, balancing independence with a business enabling partnership.
Responsibilities
Responsible for independent, timely, globally aligned and accurate valuations of trading book position, exposure and performance data via operational oversight of day to day accountabilities of the team.
Lead the delivery of daily and monthly control processes
Support the validation of integrity of management information provided to Financial Accounts for the Group Accounts and financial disclosures.
Independent understanding to identify/call out and mitigate financial, operational &reputation risk related to trading book positions and exposures.
Single point of contact on any working capital related issues.
Forecasting, allocation and optimization of working capital to ensure book remains within limits while embedding rigour and challenge.
Provide support for entering/exiting new instruments/markets & growth/contraction of existing business via effective due diligence.
This includes deal valuation, consideration of working capital and cash impacts, and identifying/ mitigating financial or operational risks associated with new activity.
Evaluate and conduct a risk assessment of new investment and business initiatives proposed by the front office.
Provide an independent opinion on the risk and reward of the new activities and propose recommendations on risk mitigation strategies.
Lead initiatives, influence and participates in decisions and collaborate effectively across both regional and global teams.
Develop and demonstrate a deep understanding of Global Gas and Power supply and trading business, exposures, strategies and market fundamentals.
Provide constructive challenge to trading activity to ensure it is compliant and aligned to intended trading strategy.
Interpreting existing T&S commodity risk policies, particularly the Market Risk Operating Standard and Delegation of Authority policies, and ensuring their accurate application in GPTI as well as providing inputs into the definition of new policies and procedures.
Run and coordinate risk models and production of market risk analytics (including MVaR, Stress Test, Liquidity Test, Concentration Risk, sensitivities and scenario analysis, backtesting) and flag potential material risk to Front Office and senior management to support risk mitigation and decision making.
This includes conducting regular review of the trading books to ensure that the market risks are appropriately quantified and controlled and make recommendations on possible methodology changes and risk controls.
Drive continuous improvements through change in ways of working, digitalization and automation projects.
Requirements
Bachelors Degree (any discipline) or equivalent
Experience in Market Risk management and/or Power markets in the trading industry
Validated understanding of options valuation and risk management
Strong understanding of key controls used to mitigate risks
Strong analytical skills with ability to grasp and communicate sophisticated trading transactions into their economic effects Ability to deploy a variety of communication styles according to the situation and communicate optimally with partners and peers
Strong desire to develop leadership capability and team player with an eagerness to learn and teach
Supporting the development of the broader team across Commodity Risk
Good to have: Experience of New Activity Integration and Project Management
Why join us
At bp, we support our people to learn and grow in a diverse and challenging environment. We believe that our team is strengthened by diversity. We are committed to fostering an inclusive environment in which everyone is respected and treated fairly. There are many aspects of our employees lives that are meaningful, so we offer benefits to enable your work to fit with your life! These benefits can include flexible working options, paid parental leave policy among others!
We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment. Please contact us to request accommodation.
Travel Requirement
Negligible travel should be expected with this role
Relocation Assistance:
This role is not eligible for relocation
Remote Type:
This position is a hybrid of office/remote working
Skills:
Legal Disclaimer:
We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, sex, gender, gender expression, sexual orientation, age, marital status, socioeconomic status, neurodiversity/neurocognitive functioning, veteran status or disability status. Individuals with disabilities may request a reasonable accommodation related to bps recruiting process (e.g., accessing the job application, completing required assessments, participating in telephone screenings or interviews, etc.). If you would like to request an accommodation related to the recruitment process, please contact us to request accommodations.
If you are selected for a position and depending upon your role, your employment may be contingent upon adherence to local policy. This may include pre-placement drug screening, medical review of physical fitness for the role, and background checks.
