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Lead Commodity Risk - Power

Lead Commodity Risk - Power

  • Location United States - Texas - Houston
  • Travel required Negligible travel
  • Job category Finance Group
  • Relocation available No
  • Job type Professionals
  • Job code 135771BR
  • Experience level Senior
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Job summary

About us
Our purpose is to bring together people, energy and markets to power and navigate a changing world.
In a time of constant change and possibility we need new talent to pursue commercial opportunities, fueled by world-class insight and expertise. We’re always striving for more innovative digital solutions, sustainable outcomes and closer collaboration across our company and beyond, and you could be part of that too. Together we continue to grow as the world’s leading energy company!

About the role
Trading & Shipping (T&S) is BP's face to the traded markets. T&S's role is to enhance BP Group value through distinctive supply, commodity trading, risk management and information technology skills underpinned by an outstanding finance, control, compliance, risk analytics and management infrastructure.
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.

Key Accountabilities

  • Develop understanding of Power commercial businesses.
  • Establish strong relationships with commercial and functional teams.
  • Deliver insightful reporting and analytics that enable business decision making. This is achieved through timely, rigorous, and accurate reporting and analytics of exposure, market risk, costs, 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.
  • Liaise with front office, settlements, and accounting to resolve any discrepancies on counterparty, pricing, volume and Mark to Market (MTM) value, accrual, and gross margin.
  • Bring transparency to deal structures and explain financial impacts in operational terms to Commodity Risk Lead, 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.
  • Prepare presentations and participate in discussions with Commercial and Finance leaders.
  • Key member of the month-end close process and support accounting in month end closings.
  • Support regional and global process standardization initiatives.
  • Support any ad hoc reporting requirements.
  • Liaise with IT to lead and manage process improvements.
Essential Experience and Job requirements
  • Experience working in a commodity trading environment with a bias toward Power and natural gas.
  • Experience with complex structured physical and financial transactions, including working capital, Heat Rate Call Options (HRCOs), revenue puts, load, tolls, retail.
  • Understanding of front to end transaction lifecycle, key operational and financial controls, applications employed and ability to assess 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 everyday 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 collaborators to build alignment.
  • Strong interpersonal and communication skills (verbal and written).
Essential Education
  • Bachelor’s Degree in Finance, Accounting, Economics, or related field
Desirable criteria and qualifications
  • MBA or other financial certification including CFA, FRM, CPA.
  • Experience in Power Product Control/Middle Office
  • IT skills (Energy Trading/Risk Management systems – SolArc RightAngle, Endur, Epsilon, Advanced MS Excel, programming languages like Python, tools like Power BI)
  • Proven knowledge and understanding of energy trading markets and instruments
Why join bp
At bp, we support our people to learn and grow in a diverse and challenging environment. We believe that our team is strengthened by diversity. We are committed to fostering 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. These benefits can include flexible working options, a generous paid parental leave policy, and excellent retirement benefits, among others!

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