Job Title : Senior Specialist – Market Risk Operations (JG5)
Org : Market Risk
Team : SE-EA & EPTB
Location : Bangalore/ Chennai
The Market Risk (MR) department is a specialized unit in Finance Operations (FO) that operates in Chennai, Bangalore, and Manila centers. The team has frontline responsibility for risk measurement, deal valuation, exposure reporting and price validation. The department pulls together a range of expert skills that ensure accurate, timely reporting and allow MR to offer professional advice on the wide range of issues that the department gets involved in. We are interested in attracting people to our business who share our core working values of honesty, integrity, and respect for others. We want those who can build on our business vision, are prepared to accept accountability, and can achieve great results through teamwork. The team has been continuously absorbing newly migrated activities over the last eight years with continued growth and more complex work will continue to be absorbed into the teams
The primary function in the job role will be to detect, quantify and communicate potential for unforeseen or unidentified risk within trading activities. Additionally, this role liaises with Accounting/ Finance, Operations and Commercial teams to ensure deals are captured accurately and reflected correctly in our systems. Cross training will be required to provide cover on daily, monthly, and quarterly reporting processes for the Market Risk team. Individual will be frequently involved in development of the day-to-day and monthly processes and systems to keep pace with the ever-changing trading environment.
This description details the role for a ‘Senior Specialist’ who will support the Senior Team Manager (STM)/ Operations Manager (OM) in delivering daily P&L/Risk reports, ensuring successful operation of SOX Controls, contributing to operational excellence in the reporting processes and helping develop/build capabilities of other Risk Analysts. The role is expected to have no direct reports. As part of the larger team desk reporting, the analyst may need to cover other primary analysts during their absence.
The list below is intended to provide a brief glimpse of the day-to-day activities and highlight the key areas of proficiency (strong business understanding, ability to navigate systems, managing stakeholder relationships and key technical skills) that would help the analyst succeed in the role.
The analyst is expected to:
- Understand key P&L drivers and articulate strategy-based P&L commentary whilst demonstrating a commercial understanding of the business
- Acquire an in-depth understanding of Mark-to-Market (MtM) curves & methodologies and assist the team in ensuring the curves are correctly loaded in the trading systems
- In case of trading system curve errors, liaise with business users and technical support to identify, analyze and resolve issues (ad hoc)
- Leverage Market Risk modelling practices including Value at Risk & Stress Testing to understand and communicate the risk in the portfolio
- Understand trading account structure, exposures and P&L generated by different transaction types in the book
- Prepare weekly/monthly trade performance slide packs for Regional/Global Heads of the Commercial Business.
- Provide ad-hoc analysis by running queries into the Trading Risk databases
- Monitor exposure limits daily within the Trading Control Framework and Manual of Authorities (MOA)
- Ensure activities are carried out with safety awareness and are performed in compliance with external regulation, the Shell Control Framework, SOX & Financial Reporting requirements, and Shell Trading mandate and policies
- Liaise with business users and technical support to identify, analyze and resolve application issues
- Monitor and report KPI for both external (traders) & internal performance metrics
- Be curious about the Shell’s trading business, seek to understand both ongoing/upcoming transactions, and dig into conflicting data to resolve issues while considering the impact upon the overall business
- Work closely with the STM/OM to help them carry out daily risk reporting/execute projects. Most projects are likely to come in with short deadlines- the candidate is expected to lead the project while keeping a tab on the on-time delivery of scheduled tasks
- Be well versed/have hands-on experience in any or all of VBA, Advanced Excel, Power BI, MS Access, SQL, MATLAB, Spotfire, QlikView, Tableau. The job will have a techno-functional aspect where the analyst will frequently pull data, filter and process information, analyze, interpret and clearly communicate the results upwards for the consumption of senior management
- Balancing the reporting requirements on multiple businesses covering varied commodity types in different geographies/markets
- Coming to terms with the complex system landscape: the candidate is expected to be comfortable with established ETRMs as well as future upgrade projects that may require some time be devoted to work with other stakeholders in development/implementation of new software solutions
- Maintaining quality relationships and engagements with key business stakeholders to ensure timely and accurate data
- Understanding the numbers and convincingly explaining the ‘story behind them’ demonstrating and appreciation for trading strategies and risk payoffs
- Exploring opportunities to continuously improve tools and process
- Given how the business is growing, the candidate is asked to be flexible in terms of work scope. The role will become increasingly challenging and in-depth with every new activity rolled out. Whilst covering the daily reporting, then candidate may be pulled in for ad-hoc analysis/DAF reviews with typically short turnaround times
- The SE-EA team typically works in afternoon shift. The individual will need to be able to work extended hours if job requires due to monthly/quarterly close, new requirements/ critical project delivery timelines or unforeseen events. The candidate should be comfortable in working in these shifts
- Meet the requirements of Market Risk’s steep learning curve and emerge as a Subject Matter Expert (SME) in for the business. The candidate will be expected to train and socialize the learnings other members in the team and actively facilitate onboarding of new members
Experience and Qualifications:
- The ideal candidate will be highly numerate, logical, can prioritize and multi-task, and is comfortable working in teams
- A good understanding of Commodity Markets (crude oil/ oil products/ LNG/ natural gas/ power experience is welcome) business and/or familiarity with spot price assessments, forward curve methodologies, swap markets, and basics of options would be valuable
- Risk Management knowledge (demonstrate knowledge of different types of VaR, stress testing, sensitivity analysis, basis risk, volume risk, currency risk)
- Strong computing skills (Excel, programming, VBA) and analytical abilities
- Strong analytical skills (details & accuracy-oriented mindset)
- Strong communications and interpersonal skills
- Prior experience in operating LOD2 controls and knowledge of financial risk models along with back-testing models would be preferred.
- An undergraduate degree in Statistics, Mathematics, Science, Finance or Economics from a leading academic institution
Other preferred qualifications include:
- Experience/ understanding of Risk Management systems (Openlink Endur, FIS Aligne) and ability to identify deal changes related to fees would be a strong plus.
- Working knowledge of SQL /Oracle
- Working knowledge of Spotfire - create new visualizations and drill down information for detailed analysis - is preferred
- Demonstrates a proven record in handling tools such as Alteryx, Python, Spotfire, Power BI.
- Experience in Six-Sigma and/or other problem-solving methodologies to drive continuous improvement
- Finance and accounting skills including ability to understand financial results and financial and management reports
- Experience with risk analysis, Value-at-Risk, financial derivatives, or physical energy markets would be a plus
- Ability to work with cross-functional work group
- Ability to drill down into complex data and must have a keen eye for details
- Creativity in problem solving