Trader - Low Carbon Trading

Job summary

The Low Carbon Trader will trade carbon emission credits & associated environmental products within the Low Carbon Trading (LCT) Team and will be integral to the success of bp’s low carbon energy transition. This trader will primarily trade compliance and entrepreneurial positions under our Australia and New Zealand books, as well as be responsible for pricing and supporting the low carbon origination activity in Trading & Shipping for the Asia Pacific Region. Support for the Voluntary Trading book will also be required.

The candidate must be capable of working in a team environment and will support other LCT traders and working cross bench opportunities from biofuels to LNG. This role must contribute speculative trading strategies based on in depth analysis of fundamental and technical data. The preferred candidate would have experience trading environmental credits both OTC and exchange based, derivatives, and a deep understanding of associated fundamentals of Australian and New Zealand markets.

LCT trades environmental attributes used to mitigate greenhouse gas emissions. LCT products are associated stand-alone carbon markets such as Cap and Trade, Baseline and Credit, Emissions Trading Programs, or opt-in voluntary programs to meet Environmental, Social and Governance goals. LCT is a global team operating in Singapore, London, Chicago, Houston, and Calgary.

Key Accountabilities

Strategy

• Manage & optimize trading exposure throughout Australia and New Zealand markets
• Execute speculative trading strategies
• Manage risk for origination activity in Australian and New Zealand markets
• Identify and monetize optionality for current and prospective transactions
• Generate entrepreneurial profit by taking positions in options, futures, and physical
• Ensure the risk/reward of trade strategies are properly analysed, understood, and communicated

• Comply with BP’s Code of Conduct and model BP’s Values & Behaviours
• Work with team members to execute the trade strategy, using approved physical and financial instruments
• Trade in a disciplined manner within agreed limits
• Understand and ensure that exposure reports are correct such that the system of record is accurate with timely reconciliation of discrepancies and address issues or questions that arise from middle or back office.
• Ensure deal entry metrics remain in line with key performance indicator (KPI) expectations
• Understand and manage transactional risks assuring required credit limits are in place, funding requests are executed, and records of transactions are available for reporting purposes.
• Build out or improve trading execution tools
• Back-up other traders on the bench as required

• Build deeper understanding of relevant regulations and stay abreast of the upcoming changes to ensure bp compliance and
• Collaborate with BP analytics to inform the market view and understand the impact of market developments

• Provide support to business development, supply, and marketing teams
• Understand and master cross commodity correlations and relationships
• Develop relationships with external market participants
• Establish a culture that fosters continuous improvement within the bench
• Keep abreast of relevant trading processes and procedures, understand how new business is captured and reflected in bp’s system of record and comply with regulatory deal entry requirements

• Bachelor’s degree required
• Excellent integrity and character
• Strong analytical skills, commercial mindset and attention to detail
• Solid understanding of options Greeks
• Demonstrated knowledge of Australian and New Zealand regulatory environment and processes
• Adhere to MAS requirements, control and compliance in a trading business
• Strong communications skills (written and verbal)
• Ability to multi-task and prioritize independently
• Self-starter, independent thinker and willingness to develop solutions and opportunities proactively
• Positive track record trading environmental credits, and derivatives in the abovementioned markets

• Ability to code and build models to support trading decisions
• Solid understanding of options Greeks
• Familiar with relevant environmental policies and regulations