The Commodity Risk Group is a key middle-office, risk, and financial controls function accountable for ensuring that trading and origination activities are conducted within a robust control framework. The Commodity Risk Lead will play a key role interfacing with trading, marketing & origination, scheduling, structuring, and support functions for the Natural Gas bench. It requires balancing independence with a business enabling partnership. This position is accountable for delivering/overseeing market risk insight and analysis, P&L reporting, month end close process and providing analytics to support business insight, including working capital and cash while enforcing the T&S Operating Standards & Control Processes. The position reports to the Senior Manager of Commodity Risk.
- Develop strong understanding of bp natural gas commercial businesses.
- Establish strong relationships with commercial and functional teams in Houston, Calgary, and regional offices.
- Deliver insightful reporting and analytics that enable business decision making and commercial growth of the portfolio. This is achieved through timely, rigorous, and accurate reporting and analytics of exposure, market risk (VaR and stress scenarios), gross margin, cash and working capital
- Facilitate and oversee effective and consistent compliance and controls, both internally and externally, while ensuring financial integrity for T&S. Facilitate discussions with both internal and external auditors
- Bring transparency to deal structures and explain financial impacts in operational terms to Senior Manager of Commodity Risk and other members of the leadership team
- Maintain and review MTM, exposure and P&L by deal, portfolio, trader, region, and strategy
- Lead due diligence discussions with Commercial and Finance leaders
- Support regional and global process standardization initiatives
- Liaise with IT to lead and manage process improvement/simplification initiatives.
ESSENTIAL EXPERIENCE AND JOB REQUIREMENTS:
- Bachelor’s Degree in Finance or Accounting, other degrees considered
- At least 8 years of experience in a physical and financial commodity trading environment with a bias towards natural gas or power
- Experience with commodity options which includes knowledge of components, valuation and resulting positions
- Understanding of front to end transaction lifecycle, key operational and financial controls, applications employed and ability to assess change impact across functions
- Team player and eager to learn and teach in partnership with other team members within the team and across other trading benches.
- Able to grasp and communicate complex transactions in layman terms for non-technical audience, while highlighting the key economic effects & associated operational and market risks.
- Self-motivated with the intellectual ability and curiosity to read, interpret, and maintain current knowledge of relevant trading and market fundamentals.
- Ability to multi-task independently in a dynamic and changing business environment, within a global structure and under tight deadlines.
- Champion change through visible and active commitment to drive the change process, while able to articulate the vision for change and engage with stakeholders to build alignment.
- Strong interpersonal and communication skills (verbal and written).
- Experience in Product Control/Middle Office/Market Risk
- IT skills (Energy Trading/Risk Management systems – Endur, Advanced MS Excel, programming languages like Python, tools like Power BI)
- Solid knowledge and understanding of energy trading markets and instruments