The role of Commodity Risk Lead in BP is a key control position within the Commodity Risk and Trading & Shipping (T&S) Finance & Risk organization, within the Global Oil Trading business. An individual contributor role with informal leadership within the broader team, this role is accountable for providing deep business understanding and control through the delivery of reporting and analysis. This role holds the primary interface into the trading front office, balancing independence with a business enabling partnership. This position requires a deep knowledge of the activities within Commodity Risk, to meet the team’s core accountability of delivering independent analysis of market risk and risk mitigation strategies.
Key Accountabilities:
Develop and build out expertise within Refining and Products Trading Asia Pacific (RPTAP) supply and trading business, exposures, strategies fundamentals.
Interpreting existing T&S commodity risk policies, particularly the Market Risk Operating Standard and Delegation of Authority policies, and ensuring their correct application in RPTAP as well as providing inputs into the definition of new policies and procedures.
Run and administer 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.
Review and recommend appropriate risk parameters to evaluate and control the level of risk-taking for the respective trading books.
Provide constructive challenge to trading activity to ensure compliance and alignment to intended trading strategies.
Evaluate and conduct risk assessments 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 approaches.
Represent Market Risk in the Regional Risk Committee and lead risk assessment of long term assets and trading positions.
Represent EH in the global Commodity Risk Analytics Network in order to align adequate market risk discipline and control prevails in T&S.
Lead ad hoc reporting requirements and regional/global analytics projects.
Role Requirements:
- A good understanding of the principles of market risk measurement and quantitative finance and how these can be applied to create robust controls in a trading business. Experience in commodities risk management and/or familiarity with energy markets would be considered favorably.
- Effective at working and influencing as part of formal teams, informal networks and as an individual contributor.
- Track record of applying risk mitigation strategies.
- An analytical mindset and a proactive approach to problem solving.
- Able to articulate how individual books perform in a holistic manner with the respect to P/L generated versus the level of risk taking commensurate with their trading strategies.
- Experience with valuation & analysis of physical and financial derivatives required.
- Able to grasp and communicate complex models and trading transactions in layman terms for non-technical audience while highlighting the key economic effects.
- Self-motivated with the intellectual ability and curiosity to read, interpret, and maintain current knowledge of relevant risk management, trading and market fundamentals.
- Advanced proficiency in MS Excel.
- Attention to detail and ability to perform in a deadline-oriented environment.
Desirable criteria & qualifications:
- An understanding of option pricing theory and the risk measurement of non-linear transactions.
- Professional qualifications in financial analysis, risk management or equivalent areas.
- Programming experience in any high-level language.
- IT savvy and having basic understanding in market risk reporting system operations and data extraction.
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.
RQ094271
