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Counsel – Financial Services Regulation, Trading & Shipping, AsPac

Counsel – Financial Services Regulation, Trading & Shipping, AsPac

  • Location Singapore - Flexible
  • Travel required Negligible travel
  • Job category Legal Group
  • Relocation available No
  • Job type Professionals
  • Job code 140561BR
  • Experience level Senior
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Job summary

bp Trading & Shipping (T&S) is bp’ s energy trading division, responsible for the physical and financial trading of oil, refined products, biofuels, gas, power, LNG and low carbon units. It is a friendly, exciting and dynamic organisation, and is bp’s face to the traded markets. Remaining compliant with financial services regulation is essential to T&S’s licence to operate.

This role will provide a unique opportunity to support T&S’ diverse and exciting business, navigating the complex financial regulatory landscape across different jurisdictions in the Asia Pacific region. This role will support the significant growth of T&S’ biofuels, power and low carbon trading businesses, key to bp’s corporate purpose to reimagine energy.

Key Accountabilities

  • Advising T&S businesses at all levels of the organization, including senior management, on financial services regulations applicable to trading activities across the region, including in relation to:
    • licensing restrictions on marketing and trading derivatives and other financial products;
    • ongoing compliance requirements under the Australian Financial Services License;
    • market abuse and other financial conduct matters;
    • transaction reporting;
    • engagement with financial services regulators, including responding to regulatory queries or investigations.
  • Monitoring and advising on regulatory change, including ensuring that bp understands and is able to implement the changes necessary to maintain compliance.
  • Coordinating with colleagues in the US and UK to ensure financial services regulations are implemented consistently and efficiently across T&S businesses.
  • Delivering or inputting into training on financial services regulatory issues.
  • Advising on new projects and strategic initiatives including the expansion of the business.
  • Working closely and establishing good working relationships with:
    • T&S legal colleagues in the other regions;
    • bp legal specialist teams;
    • T&S ethics & compliance colleagues;
  • Advising T&S businesses at all levels of the organization, including senior management, on financial services regulations applicable to trading activities across the region, including in relation to:
    • licensing restrictions on marketing and trading derivatives and other financial products;
    • ongoing compliance requirements under the Australian Financial Services License;
    • market abuse and other financial conduct matters;
    • transaction reporting;
    • engagement with financial services regulators, including responding to regulatory queries or investigations.
  • Monitoring and advising on regulatory change, including ensuring that bp understands and is able to implement the changes necessary to maintain compliance.
  • Coordinating with colleagues in the US and UK to ensure financial services regulations are implemented consistently and efficiently across T&S businesses.
  • Delivering or inputting into training on financial services regulatory issues.
  • Advising on new projects and strategic initiatives including the expansion of the business.
  • Working closely and establishing good working relationships with:
    • T&S legal colleagues in the other regions;
    • bp legal specialist teams;
    • T&S ethics & compliance colleagues;
    • external law firms.
  • To work confidently and effectively with business and functional stakeholders with minimal supervision, but with the judgement to promptly inform and work with the Managing Counsel on more complex and sensitive matters.
  • Overall, to be the first and key port of call for all financial services regulatory matters in the region.

Essential Qualification, Job Experience and Requirements
  • 6+ years post qualification experience in financial services regulation.
  • Financial services regulatory experience in a top tier international law firm.
  • Experience advising on the regulation of OTC and exchange traded derivatives.
  • Good understanding of financial regulations and experience in dealing with regulators such as ASIC (Australia), MAS (SG), SFC (HK), FCA (UK) and Bafin (Germany).
  • Pragmatic and able to work towards commercial and practical solutions.
  • Ability to prioritise conflicting demands, operate independently and effectively against short timelines and provide prompt and commercially focused advice.
  • Excellent oral and written communication skills, and ability to communicate complex regulations clearly and succinctly.
  • An ability to work internationally and navigate different regulatory regimes.
  • Proven track record as an effective team player.
  • Ability to build and maintain strong professional working relationships and promote networking, open communication and effective collaboration.
  • Ability to demonstrate integrity, courage and sound ethical judgment.

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