Lead Commodity Risk - Continuous Improvement

Job summary

The Commodity Risk Lead is a key control position within the Commodity Risk function and Trading and Supply Finance. The position is accountable to the Commodity Risk Manager for a specific commodity’s aspects of control. The role includes being the primary interface for trading and supply benches, while leading the daily activities that meet the team’s core responsibility of delivering independent daily exposure and P&L, and providing analytics to support business insight, including working capital and cash.

About the role

  • Responsible for the creation and delivery of high quality, insightful, valuable, and automated Management Information.
  • Work closely with managers and analysts to understand and clarify requirements.
  • Identify/evaluate/recommend and implement digital applications/tools/solutions that can be leveraged by our commodity risk teams.
  • Identification, development, and/or implementation of tools, templates, and accelerators for ensuring timely validation of deal blotters and business summaries from the front office, price curves, deal level MTM, exposure and P&L.
  • Support regional and global process standardization initiatives. Work collaboratively with Global Finance and Risk team to follow standards and best practices for Continuous Improvement development.
  • Work with cross functional teams (i.e., front, middle, back office, information technology, operational excellence & transformation) to deliver continuous improvement and innovation initiatives.
  • Responsible for bringing transparency to deal structures and explaining financial impacts in operational terms to Commodity Risk Manager.
  • Independent understanding of trading strategies to identify and mitigate financial, operational & reputational risk related to new or existing activities.
  • Ensure timely validation of deal blotters and business summaries from the front office to ensure that new business deals are accurately represented in the system.
  • Daily maintenance and validation of non-global curves and resolve any issue with bench analyst on a timely basis.
  • Liaise with finance, risk and front office teams to resolve any discrepancies on counterparty, pricing, volume and MTM intent.
  • Maintain and review deal level MTM, exposure and P&L
  • Accurately validating, monitoring and managing ancillaries and related P&L daily including troubleshooting and resolving any related issues.
  • Actively engage with Singapore, London and Chicago teams, ensuring proper handoffs between regions.
  • Support regional and global process standardization initiatives
  • Support any ad hoc reporting requirements
  • Find opportunities to apply technology and tools to enable business process efficiency.

Essential Education:

  • Bachelor’s Degree

Essential experiences and job requirements:

  • 10+ years finance or relevant experience

Desirable skills:

  • Strong technology capabilities including data visualization (Power BI/Tableau), data management (SQL/PLSQL) and understanding of programming languages (VBA, python) is preferred.
  • Good knowledge and understanding of energy trading markets and instruments
  • Drive commercial focus
  • Able to analyze exposures
  • Competent at identifying basic risk mitigation strategies
  • Knowledgeable about external environment in which the business operates and able to assess and challenge its impact on the business risk matrix.
  • Understands how industry trends affect a counterparty's business risk in the near term (less than a year) and mid-term (1 to 5 years).
  • Build and implement strategy
  • Champions change through visible and active commitment to drive the change process, while able to articulate the vision for change and engages with the organization and collaborators to build alignment.
  • Is able to provide guidance to help implement compliance and assurance policies optimally within the business and/or Functional area.
  • Is able to expertly analyze Operational risk exposure within a specific business and is competent at advising risk mitigation programs. Demonstrates eye for business.
  • Understands, recognizes and interprets the financial impacts of individual trades and sophisticated deal structures.
  • Able to recognize the exposure implications of trades, anticipate market price movements from various information sources and readily challenge traders on the underlying assumptions of deals, while offering alternative options.
  • Understand what is expected to attest to the accuracy of financial documents.
  • Understand the link between the actions of the business and the accounts and able to quickly identify the key performance issues given a full set of accounts.

Why join bp

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, a generous paid parental leave policy, and excellent retirement benefits, among others!

About You:

Ideal candidates will have a bachelor’s degree with at least 5-10 years of finance, risk or other proven technical experience. You will have a good understanding of commodity risk management principles and practices. You should be proficient in digital tools/languages in one or more PowerBI, Microsoft Office, VBA, Python, SQL, Power Automate, SharePoint, Trading & Risk Systems.