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Commodity Risk Manager
Job summary
Commodity Risk is a key strategic control position within the Commodity Risk function and bp's Trading and Shipping Finance. The role holder serves as the primary interface for trading and supply benches, while managing the daily activities that meet the team’s core responsibility of delivering independent daily exposure and P&L, and provides analytics to support business insight, including working capital and cash.
Key Accountabilities
- Responsible for the creation and delivery of high quality, insightful, value added, and automated management information.
- Responsible for bringing transparency to deal structures and explaining financial impacts in operational terms.
- Independent understanding of trading strategies to identify/escalate and mitigate financial, operational & reputational risk related to new or existing activities.
- Ensure timely validation of new business to ensure that new business deals are accurately represented in the system.
- Validation and analysis of prices and curves and resolve any issue with bench analyst on a timely basis.
- Ensure market data integrity with reference to price series and forward curves, pricing calendars and expiry tables in the systems
- Ensure accurate delivery of independent exchange-related activities, analysis of exchange trades with a lens of risks involved and accurate forecast of cash required for exchange trading
- Collaborate closely with finance, risk, and front office teams to resolve any discrepancies on counterparty, pricing, volume and MTM intent.
- Validate deal level MTM, exposure and P&L.
- Accurately validate, monitor, and manage ancillaries and related P&L daily including troubleshooting and resolving any related issues.
- Actively engage with global teams, ensuring proper handoffs between regions.
- Support regional and global process standardization initiatives.
- Liaise with finance, risk, and front office teams to resolve any discrepancies on counterparty, pricing, volume and MTM intent.
- Ensure appropriate application of T&S Commodity Risk Policy. In particular, he/she will have responsibility for the application of T&S’s Market Risk, Commodity Risk and Delegation of Authority Policy.
- Support any ad hoc reporting requirements
- Lead a team of analyst and provide day-to-day support and guidance
- Help drive process and operational transformation while maintaining a strong focus on control
- Master or bachelor’s degree in Finance
- Ideal candidates will have a degree with at least 10-15 years of finance, risk or other proven experience.
- You will be proficient at identifying basic risk mitigation strategies and can drive commercial focus, analyze exposures and be a strategic member of our finance team.
- Being knowledgeable about the external environment in which the business operates and being able to assess and challenge its impact on the business risk matrix is crucial to this role.
- You should be able to analyze operational risk exposure and advise risk mitigation programs.
- Possessing programming skills and understanding energy trading markets and instruments would be highly beneficial.
- This role is both individual contributor and people manager.
- Background on product control or risk management environment in commodity trading or derivative instruments
- Strong organizational skills, ability to process and prioritize information efficiently
- Have experience in managing and guiding team
- Able to work calmly under pressure with deadlines and embrace agile working style
- Good communications skills to maintain effective working relationships with T&S and GBS stakeholders