Senior Analyst Commodity Risk

Job summary

BP’s Trading & Shipping (T&S) is an integrated world-class trading organization that links together BP’s trading and supply activities in gas, power, carbon, oil, refined products, and shipping.

As part of BP’s aim to decrease the carbon intensity of the energy we supply, BP is targeting to build a 50GW portfolio of renewable power by 2030. This activity is set to continue its rapid growth, with recently announced joint venture with EnBW, adding to Lightsource BP’s 20GW global project development pipeline!

Senior Analyst - Commodity Risk - European Gas and Power
Location London - Canary Wharf 3 days a week, home working 2 days.

The European gas and power trading teams will be a key enabler of this aim, managing the risk and optimising these joint venture and 3rd party volumes, with its own portfolio of 3rd party power purchase agreements.
In support of the risk management of this portfolio, we will be seeking to build our capability in the risk management of intermittent renewable generation. This will include battery storage, flexible generation, interconnection, transport, physical gas storage, and other non-linear contracts.

Key accountabilities
This role sits within the Commodity Risk team supporting the rapidly expanding gas, power and carbon trading activity in Europe. The Commodity Risk team is accountable for key financial controls as well as performance analytics and market risk management. Responsibilities will include:

• Production of trading book P&L, exposure reporting, and performance attribution.
• Contribute to our rapidly advancing digital agenda seeing opportunities to increase efficiency in processes and controls through automation and standardisation.
• Working closely with accounting, reporting and control to ensure that relevant policies and procedures are applied to positions in the trading portfolios.
• Assist in the preparation of market risk metrics and the identification of key risks in the portfolio.
• Provide feedback on new business activity and transactions as part of the assurance and approval process

• A University degree in a relevant subject area such as Finance or Accounting or field with transferable skills (i.e. science, technology, engineering, mathematics)

• Knowledge and understanding of energy trading markets and instruments
• Business experience in a control function within a trading environment
• Track record of operational improvement and innovation
• Strong analytical skills and ability communicate sophisticated concepts effectively

• Relevant market experience in European Gas, European Power, or LNG.
• Experience with pricing and exposure calculation for non-linear financial instruments such as options, swing, and/or physical assets (e.g. storage capacity, pipelines/interconnectors)
• Experience working with Openlink/Endur
• Knowledge of SQL and/or Python or other high-level programming language
• Understanding of accounting and market risk concepts