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Commodity Risk Analyst - Analytics

Commodity Risk Analyst - Analytics

  • Location Singapore - Flexible
  • Travel required No
  • Job category Finance Group
  • Relocation available No
  • Job type Professionals
  • Job code 133375BR
  • Experience level Senior
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Job summary

Trading &Shipping is BP's face to the traded markets for BP in oil, gas, power, chemicals and finance. T&S's role is to enhance Group value through distinctive supply, commodity trading, risk management and information technology skills underpinned by a world class finance, control and compliance infrastructure. T&S has a dynamic and highly skilled workforce, which creates value by combining analysis and commercial innovation with the material asset base of BP.

Commodity Risk in Trading & Shipping (T&S) is a key middle-office, financial controls function, accountable for ensuring that trading activities are conducted within a robust control framework. As a segment of T&S Finance & Risk, the Commodity Risk organization operates in support of T&S's strategic objectives, helping it to achieve its aim of being the world's pre-eminent energy trader, in a controlled and compliant way. It is accountable for short term planning and for all middle office control and reporting activities. It also ensures consistency and monitors compliance in T&S Policies and Procedures. Commodity Risk operates seamlessly with teams in the Finance & Risk function to support the business.

The role of Commodity Risk Analyst is a key control position within the Commodity Risk and Trading & Shipping (T&S) Finance & Risk organization, in the Global Oil Trading business. This role is accountable for providing deep business understanding and control through the delivery of value-added reporting and analysis. This role holds the primary interface into the trading front office, balancing independence with a business enabling partnership. This position requires a deep understanding of the activities within Commodity Risk in order to meet the team’s core accountability of delivering independent market risk analytics and risk mitigation strategies.

Key Accountabilities

  • Develop and leverage a deep understanding of Refining and Products Trading Asia Pacific (RPTAP) supply and trading business, exposures, strategies and market fundamentals.
  • Interpreting existing T&S commodity risk policies, particularly the Market Risk Operating Standard and Delegation of Authority policies, and ensuring their correct application in RPTAP as well as providing inputs into the definition of new policies and procedures.
  • Run and administer risk models and production of market risk analytics (including MVaR, Stress Test, Liquidity Test, Concentration Risk, sensitivities and scenario analysis, backtesting) and flag potential material risk to Front Office and senior management to support risk mitigation and decision making. This includes conducting regular review of the trading books to ensure that the market risks are appropriately quantified and controlled in the trading books and make recommendations on possible methodology changes and risk controls.
  • Review and recommend appropriate risk parameters to manage and control the level of risk-taking for the respective trading books.
  • Provide constructive challenge to trading activity to ensure it is compliant and aligned to intended trading strategy.
  • Evaluate and conduct a risk assessment of new investment and business initiatives proposed by the front office. Provide an independent opinion on the risk and reward of the new activities and propose recommandations on risk mitigation strategies.
  • Represent Market Risk in the Regional Risk Committee and lead risk assessment of long term assets and trading positions.
  • Represent EH in the global Commodity Risk Analytics Network to ensure that adequate market risk discipline and control prevails in T&S.
  • Lead ad hoc reporting requirements and regional/global analytics projects
Requirements
  • A strong academic record including a university degree in a quantitative subject or equivalent experience.
  • A good understanding of the principles of market risk measurment and quantitative finance and how these can be applied to create robust controls in a trading business. Experience in commodities risk management and/or familiarity with energy markets would be considered favourably.
  • Effective at working and influencing as part of formal teams, informal networks and as an individual contributor.
  • Track record of applying risk mitigation strategies.
  • A thought leader with an analytical mindset and a proactive approach to problem solving.
  • Able to articulate how individual books perform in a holistric manner with the respect to P/L generated versus the level of risk taking commensurate with their trading strategies
  • Experience with valuation & analysis of physical and financial derivatives required.
  • Able to grasp and communicate complex models and trading transactions in layman terms for non-technical audience while highlighting the key economic effects.
  • Self-motivated with the intellectual ability and curiosity to read, interpret, and maintain current knowledge of relevant risk management, trading and market fundamentals.
  • Advanced proficiency in MS Excel.
  • Attention to detail and ability to perform in a deadline oriented environment.
Desirable criteria & qualifications:
  • Understanding of option pricing theory and the risk measurement of non-linear transactions.
  • Professional qualifications in financial analysis, risk management or equivalent areas.
  • Programming experience in any high level language.
  • IT savvy and having basic understanding in market risk reporting system operations and data extraction.
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