The Commodity Risk Lead is a key control position within the Commodity Risk function and bp's Trading and Shipping 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 managing 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.
· Responsible for the creation and delivery of high quality, insightful, value added, and automated MI.
· 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/escalate 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 on a daily basis 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
· Identify opportunities to utilize technology and tools to enable business process efficiency.
· Bachelor’s Degree or equivalent experience 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 execute 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 stakeholders to build alignment.
· Is able to provide guidance to help implement compliance and assurance policies successfully 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 business acumen.
· Understands, recognizes and interprets the financial impacts of individual trades and complex 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 statements.
· 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.