Senior Middle Office Product Controller

BxT Trading; Dubai; On-site; AED 550,863 - 844,656; Full time

Job summary

BxT Trading seeks a Senior Middle Office Product Controller to provide independent oversight of P&L, valuation integrity, and market risk governance across physical and derivatives trading books.

The role sits at the intersection of trading, operations, and finance with authority to challenge front office activity. Reports to the CFO and partners with cross-functional teams to ensure robust controls and transparent reporting.

Qualifications

• 8–12+ years in commodity trading environment.
• Strong experience with P&L attribution and reconciliation.
• Background in product control, middle office, risk control, or trading finance.

Responsibilities

• Monitor trading activity against market risk policies and limits.
• Provide independent challenge on trading activity inconsistent with risk appetite.
• Maintain audit-ready control documentation and governance processes.
• Produce and validate daily P&L across physical and derivatives portfolios.
• Perform end-to-end reconciliation of P&L across front/or, middle office, and finance data.

Skills

Python

P&L attribution

Risk control

Stakeholder management

Front office collaboration

Tools

Excel

Job description

We are seeking a Senior Middle Office Product Controller to provide independent oversight of trading P&L, valuation integrity, market risk exposure, and governance compliance across physical and derivatives trading books.

The role sits at the intersection of trading, operations, and finance and is responsible for ensuring:

• Accurate daily P&L attribution and commentary
• Robust cross-functional P&L reconciliation
• Strong valuation and control governance
• Compliance with market risk policies and limits
• Transparent exposure reporting to management
• Proactive control and risk oversight
• Scalable analytics and reporting infrastructure

The role combines strong control ownership, governance oversight, and quantitative capability, with authority to challenge front office activity where required.

Reports to: Chief Financial Officer

Job Responsibilities

• Monitor trading activity against approved market risk policies, limits, and mandates
• Ensure compliance with position limits, exposure limits, trading mandates, and approved instruments
• Identify, investigate, and elevate limit breaches or control exceptions
• Provide independent challenge on trading activity inconsistent with risk appetite or policy
• Maintain audit-ready control documentation and governance processes
• Support internal, shareholder, and audit control reviews
• Produce and validate daily trading P&L across physical and derivatives portfolios
• Perform end-to-end reconciliation of P&L across front office estimates, middle office calculations, financial control results, and operational data
• Work closely with front office, operations, and financial control teams to investigate and resolve P&L breaks
• Provide structured daily P&L commentary explaining performance drivers and risk implications
• Distinguish between market-driven and trading-driven performance
• Highlight unusual or unexplained movements and exposure changes

Valuation Oversight

• Independently validate trader marks using approved market data sources
• Challenge pricing assumptions, curves, and model inputs
• Maintain valuation governance across OTC derivatives, exchange instruments, and physical exposures
• Support month-end close and audit requirements
• Monitor and report market risk exposures including commodity spreads, basis exposures, flat price exposure, and optionality
• Identify unhedged or misaligned positions
• Provide independent exposure reporting to management
• Proactively identify potential risk build-ups or exposure concentrations

Controls & Process Discipline

• Maintain strong control framework around trade capture validation, position reconciliation, curve integrity, and P&L sign-off
• Escalate policy breaches, control failures, valuation concerns, or unexplained P&L movements
• Strengthen control discipline across trading workflows
• Drive continuous improvement in control processes and reporting quality

Analytics, Automation & Data Development

• Develop automated P&L, reconciliation, and exposure reporting tools
• Build control and data analytics using Python and related tools
• Improve data integrity and trade lifecycle transparency
• Support scalable middle office infrastructure as trading activity grows

Trading & Business Partnership

• Act as a key control partner to front office while maintaining independence
• Work closely with traders to improve booking discipline and transparency
• Partner with operations on trade lifecycle accuracy
• Coordinate with financial control on accounting alignment
• Support new trading initiatives from a control and valuation perspective

Qualifications

Required Experience

• 8–12+ years in commodity trading environment
• Strong refined products experience (gasoil, jet, naphtha preferred)
• Background in product control, middle office, risk control, or trading finance
• Proven experience in P&L attribution and reconciliation
• Strong understanding of physical and derivatives interaction
• Experience monitoring trading risk exposures and enforcing control frameworks

Technical & Quantitative Skills

• Strong programming capability – Python preferred
• Experience building analytics, automation, or data pipelines
• Advanced data analysis capability
• Understanding of derivatives (futures, swaps, options)
• Advanced Excel and data tools

Personal Attributes

• Strong governance and control mindset
• High integrity and independence of judgement
• Ability to challenge front office constructively
• Proactive and ownership-driven approach
• Strong stakeholder management capability
• Commercial awareness and market intuition