Job summary
The Commercial Analyst role will be based in Houston and part of the GLights front office commercial trading team working closely with the NGL & Ethane/Olefin trading and marketing teams including the origination and structuring team. The position will be primarily responsible for completing daily bench operations before, during and post the trading session close including timely, accurate and complete deal capture management and pricing exposure for traders both in the system of record and the trader sheets. This roll will also frame, lead, and deliver various bench projects including support the enabling of commercial growth opportunities as requested.
This is a dynamic front office position with direct engagement with the trading bench and can serve as a stepping-stone to other commercial roles.
Entity:
Trading & Shipping
Job Family Group:
Supply & Trading Group
Job Summary:
The Commercial Analyst role will be based in Houston and part of the GLights front office commercial trading team working closely with the NGL & Ethane/Olefin trading and marketing teams including the origination and structuring team. The position will be primarily responsible for completing daily bench operations before, during and post the trading session close including timely, accurate and complete deal capture management and pricing exposure for traders both in the system of record and the trader sheets. This roll will also frame, lead, and deliver various bench projects including support the enabling of commercial growth opportunities as requested.
This is a dynamic front office position with direct engagement with the trading bench and can serve as a stepping-stone to other commercial roles.
Job Description:
Key accountabilities:
- Provide daily deal management support to the trading, origination, marketing, and optimization teams in conformance with T&S Deal Management Standard including ensuring the system of record and any deal management team sheets are promptly updated with new deals, checking accuracy after deal completion, and resolving any discrepancies timely working directly with each deal owner.
- Ability to thoroughly understand and interpret the various deals and structures transacted by the commercial team throughout including having strong command of the overall portfolio and various book strategies and having the courage to question any details that do not appear consistent with the individual book strategies.
- Ensure deal entry metrics remain in line with KPI expectations, and record explanations as to any deal entry errors, amendments and notifying management.
- Perform end of day recap summary of commercial activities and P&L ensuring basis curves are marked, captured timely and accurately onto the Asset Control curve upload spreadsheet and nightly P&L Flash, all deals have been entered and understood and be prepared to address any questions.
- Manages development, coordination and maintenance of metrics and key performance indicators for Y-grade business.
- Support the end-to-end process for counterparty transactions as it relates to commercial activities that includes but not limited to:
- Pre-deal checks that include ensuring the business is dealing with CDD approved customers, appropriate basis curve set-up, location setup in system and CR, credit capacity checks.
- Support the initiation New Client and/or CA/NDA requests (including corporate event names change management) through 3D.
- Support the initiation of New Master Agreements (e.g., NAESB) through ICIP
- Support the commercial team in remediating any trade confirmation disputes, settlement, and overdue payment items.
- Act as internal enabler liaison providing timely and accurate responses to any inquiries of the business from Commodity Risk, GBS, Tax, Legal, E&C, Contracts, Confirmations.
- Ensure timely and accurate exposure measurement and reporting for all books through regular communication with the deal maker and relentlessly pursuing and solving for any reconciliation differences with Position Manager and SRA.
- Support on-desk profitability calculations (i.e., P&L by deal, portfolio, deal maker, region, and strategy) and reporting; understand sources of value and be able to provide desk and management explanatories.
- Daily review of changes in hub and off-hub exposure with portfolio manager and hedging support from trading desk.
- Obtain a thorough understanding of exposure, pricing, trading, analytics, operations and how they all work together to increase profit working across the portfolio.
- Use emerging and digital technologies such as modeling and Excel programming resources in support of the business.
- Participate and complete ad hoc requests throughout the year including setting up new curves, New Activity, etc.
- Supports NGL Origination Y-Grade team.
- Provides analytical support on commercial opportunities including insights into regional industry infrastructure and customer activities to assist in opportunity and offer development.
- Works with traders, marketers, and originators to ensure opportunities are captured in Salesforce as needed and generates/distributes monthly hopper summary.
- Reviews complex contracts to identify exposure and ensure appropriate risk mitigation provisions are addressed.
- Maintain an up-to-date procedures and capture these in the desk manual.
- Drive opportunities for efficiency in processes and controls, while ensuring rationalizing return on investment of processes and effort are in line with business objectives.
- Performance Management Reporting Accountabilities: Work closely with the Commercial Manager and own the current process and seek to improve and enhance all reports/tools across the business.
- Operate compliantly within the bp CoC and relevant laws and regulations, respect for all and speaking up and complete all required training on time.
Essential Experience:
- Knowledge of commercial terms and contracts
- Ability to work under pressure with specified timelines and due dates.
- Attention to detail is key.
- Strong Excel skills
- Great interpersonal and communications skills.
- Ability to improve efficiency and reduce complexity through process improvements.
- Bias towards open thinking and learning
- Willingness to foster a safe and compliant work environment.
- Strong negotiation skills
- Industry knowledge of NGL’s, Petrochemicals and/or other relevant energy commodities.
Why join us:
At bp, we believe that our team is strengthened by diversity. We are committed to encouraging 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, including a generous paid parental leave policy and excellent retirement benefits, among others!
Travel Requirement
Negligible travel should be expected with this role
Relocation Assistance:
This role is not eligible for relocation
Remote Type:
This position is a hybrid of office/remote working
Skills:
Legal Disclaimer:
We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, sex, gender, gender expression, sexual orientation, age, marital status, socioeconomic status, neurodiversity/neurocognitive functioning, veteran status or disability status. Individuals with disabilities may request a reasonable accommodation related to bp’s recruiting process (e.g., accessing the job application, completing required assessments, participating in telephone screenings or interviews, etc.). If you would like to request an accommodation related to the recruitment process, please contact us to request accommodations.
If you are selected for a position and depending upon your role, your employment may be contingent upon adherence to local policy. This may include pre-placement drug screening, medical review of physical fitness for the role, and background checks.