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Senior Market Risk Analyst
The Role
What’s the role?
The Senior Products Market Risk Analyst is a member of the Oil Market Risk team and reports to the Products Risk Manager STR/STASCO. The Oil Market Risk Team is responsible for understanding the trading markets and strategies employed by the oil trading business of Shell Trading and Supply.
The purpose of the role is to independently identify, measure, and report on the level of risk from new business proposals, material contracts, and trading market conditions in order to advise the commercial teams on mitigation strategies and risk appetite. The role will provide risk assessments and insights to senior management while collaborating with and providing market specific information and advice to others in the global Finance and Risk Management organization. This includes the Valuation, Quantitative Analytics, Risk Management Operations, and Technical Accounting teams among others. The Oil Market Risk Team will provide an independent view as to whether the organization is receiving appropriate compensation for the risk they are taking.
You will work closely with risk leads for all parts of the risk management spectrum including a significant Business Operations component, regular discussions with Front Office, Finance, Compliance and Back Office, and a focal point for crude oil risk related queries from across the RDS group.
More specifically, your responsibilities include:
Develop and apply fair economic value principles across the Products Oil business, coordinating across the global risk managers to ensure consistent application. This includes providing modelling support and challenge with stakeholders on valuation inputs and parameters.
Ensure that all exposures generated are fully understood and that these exposures and resultant P&L are properly evaluated, validated, and analyzed prior to any income being reported.
Provide independent advice and guidance on the level of risk/return in the business and whether this is congruent with the agreed level of risk appetite.
Identify risks, look at model and portfolio assumptions, market inputs, pricing issues, valuation parameters and instrument types.
Produce ad-hoc analysis to explain P&L or exposure changes to Front Office, assist them with queries and requests for system setup changes.
Ability to solve real world business problems using quantitative and computational techniques.
Provide analysis, review, and comments on New Business Proposals. Where applicable, provide peer review and challenge to the deal proposals for other businesses. Ensure that the systems and support functions are ready for when trading commences.
Carry out the review and execution of SOX controls within their organization and manage communications with auditors after they are completed.
Work with the Valuation and Quantitative Analytics teams to understand and model embedded physical optionality and how optimization of physical portfolios changes exposures.
Assist in limit setting & monitoring of the Products Oil business, but equally play a key role in limit setting globally across the Trading and Supply business. Ensure that all trading activities remain within mandated limits and escalate appropriately if they are exceeded.
Ensuring that error-checking is a natural part of all processes, so output is ‘Right First Time’.
Promote a culture of continuous improvement across all levels of the organization by having courage to challenge established processes. This includes identifying inefficiencies in local and global operations and opportunities to streamline and automate shared processes and interfaces.
Support digitalization and automation to smooth the flow of information across the business and to remove manual tasks.
Drive understanding of the design and utilization of methodologies to assess risk/reward of the portfolio, including VaR back-testing, stress testing, scenario analysis, liquidity analysis.
Understand and explain changes in VaR by breaking down the impact by its underlying drivers and ensuring that the VaR accurately reflects the positions taken and volatility of the relevant market.
Produce content for and occasionally participate in the quarterly Risk Committee meetings with Senior Leadership. Powerpoint skills to produce presentations for Executive level presentations.
Ensure that Market Risk fulfils its role as an independent “check and balance” function and is viewed as such by other parts of the organization.
Implement Shell best practices in commodity trading risk management.
Actively manage resources & processes to optimise the efficient analysis of risk across the portfolio, manage change and prioritise accordingly.
Define and advance analytical mindset and behaviours by providing support for training and learning opportunities to analysts to enhance their understanding of trade book strategies, complex deals, trading and risk mandates, and market fundamentals.
Competencies
Capable of being independent from front office; able to objectively analyse and report risks and exposures. Regularly engage in discussion with traders and management about exposure taken and resultant P&L.
Strong stakeholder engagement skills, having the self-confidence to challenge traders on deals, valuations, positions, limit mandates.
Excellent communication skills; the role will require writing reports and policies and presenting analysis and insights to senior stakeholders. Due to the global nature of the business the role requires communicating using different methods, in a variety of formats, to people in many countries.
Team player, good interpersonal skills. Flexible to work with colleagues across numerous time zones with both Market Risk at the Trading Hubs in London, Rotterdam, Houston, Dubai and Singapore; but equally the Business Operations centres in Chennai, Manilla, Bangalore.
Ability to articulate and communicate complex scenarios and ideas in a clear and concise manner whilst understanding the perspective and experience of others. Ability to challenge sensitive issues constructively whilst maintaining working relationships.
This is a role for a person who brings diversity of thought, who is not afraid to speak up and who is comfortable challenging senior stakeholders.
Proactively identify and communicate potential issues with the appropriate teams or stakeholders. Making sure problems raised are followed up and worked on until completion.
Able to collaborate and produce good quality output using virtual chains of command.
Working closely with the Credit and other Risk teams to ensure trading risks and returns are fully understood, captured, and challenged where necessary. This will also include longer term risks, inherent in contracts such as, but not limited to, storage, pipelines, time-charters.
The role works closely with risk leads for all parts of the risk management spectrum including a significant Business Operations component. The incumbent is tasked with ensuring that the business that they cover is widely understood and that any changes to it or the supporting risk management framework are communicated properly to all stakeholders.
Ability to coach and mentor team members as well as members of other teams who require knowledge or skills that Risk can provide.
What we need from you?
Degree in Business, Economics, Mathematics, Science, Engineering, or IT; or relevant workplace experience in the energy trading industry.
Experience within a trading and risk management organization, including understanding of trading, operations, risk, compliance and mid/back-office business processes, policies, procedures, and controls.
Knowledge of the infrastructure of the products oil trading and supply industry such as oil fields, export terminals, shipping, pipelines, and refineries. An understanding of the fundamental economics and pricing mechanisms behind these physical assets and flows of crude, and the trading strategies that relate to them. A deep familiarity of the different crude types and how their specifications effect the value, and how the pricing mechanisms of the benchmark contracts work.
Understanding of financial, commodity and energy markets, derivative instruments, and hedging techniques. Knowledge of options theory, risk of options, and trading strategies.
Understanding of current regulatory proposals and how these can impact Shell.
Experience with DEX or comparable energy trading risk management system and ability to fully leverage its functionality.
Intermediate to Advanced Excel skills; such as pivot tables, lookups, VBA macros.
Candidates shall possess extremely good judgment and shall be able to provide advice, while balancing risk and value daily.
Reliable, dependable, and disciplined. Excellent attention to detail, methodical, organized. A trusted partner of the business.
Resilient when working under pressure, with the ability to prioritise tasks to meet key deadlines.
Good judgement to provide advice, question discrepancies, escalate issues.
Continuous improvement mindset; utilizing tools to streamline and automate work to boost efficiency.
Scientific mindset; identify, investigate, analyse, research, discuss, record, and resolve issues.
Learner mindset; innovative and creative, excellent problem-solving capabilities.
A critical and strategic thinker, with a long-term view on risk but with a short term and pragmatic view on implementation.
About Shell
Shell Nederland BV is a platform for international collaboration, with Shell offering direct employment to around ten thousand people in the Netherlands alone, including roughly 2,800 non-Dutch employees from around 80 countries. Diversity is key at Shell Nederland, and our employees reflect the innovation that stems from a diverse workforce. By joining Shell Nederland, you will benefit from an unrivalled industry-leading development programme that will see you tap into a pool of expert knowledge that will help propel your career. Shell Nederland is the holding company of most Shell companies operating in the Netherlands. Shell Nederland also has an advisory and coordinating role in numerous areas.
An innovative place to work
There’s never been a more exciting time to work at Shell.
Join us and you’ll be adding your talent and imagination to a business with the ambition to shape the future – whether by investing in oil, gas and renewable energy to meet demand, exploring new ways to store energy, or developing technology that helps the world to use energy more efficiently, everyone at Shell does their part.
An inclusive place to work
To power progress, we need to attract and develop the brightest minds and make sure every voice is heard. Here are just some of the ways we are nurturing an inclusive environment – one where you can express your ideas, extend your skills, and reach your potential.
- We’re creating a space where people with disabilities can excel through transparent recruitment process, workplace adjustments and ongoing support in their roles. Feel free to let us know about your circumstances when you apply, and we’ll take it from there.
- We’re closing the gender gap – whether that’s through action on equal pay or by enabling more women to reach senior roles in engineering and technology.
- We’re striving to be a pioneer of an inclusive and diverse workplace, promoting equality for employees regardless of sexual orientation or gender identity.
- We consider ourselves a flexible employer and want to support you finding the right balance. We encourage you to discuss this with us in your application.
A rewarding place to work
Combine our creative, collaborative environment and global operations with an impressive range of benefits and joining Shell becomes an inspired career choice.
We’re huge advocates for career development. We’ll encourage you to try new roles and experience new settings. By pushing people to reach their potential, we frequently help them find skills they never knew they had, or make career moves they never thought possible.
Please note: We occasionally amend or withdraw Shell jobs and reserve the right to do so at any time, including prior to the advertised closing date. Before applying, you are advised to read our data protection policy. This policy describes the processing that may be associated with your personal data and informs you that your personal data may be transferred to Shell/Shell Group companies around the world. The Shell Group and its approved recruitment consultants will never ask you for a fee to process or consider your application for a career with Shell. Anyone who demands such a fee is not an authorised Shell representative and you are strongly advised to refuse any such demand. Shell is an Equal Opportunity Employer.