Commodities Market Risk Analyst - LNG, Power & Emissions

Morgan McKinley; England; On-site; GBP 65,000 - 90,000; Full time

Job summary

Morgan McKinley is seeking a Market Risk Analyst to monitor LNG, Power and Emissions risk in real time, producing daily P&L and risk reporting for traders and management.

The role involves analysing PnL drivers, maintaining risk limits, and supporting front office on new products while contributing to Forward curves methodologies and month-end closing activities.

Qualifications

• University degree in a numerate discipline.
• Experience in a market risk role within a commodity trading environment.
• Strong knowledge of LNG, Power and Emissions markets.
• Strong knowledge of risk metrics such as VaR, stress-testing and scenario analysis.
• MS Office including Excel and VBA; Python/ Matlab/ SQL would be a plus.
• Knowledge of Endur ETRM system would be advantageous.
• Strong organization and attention to detail under tight deadlines.
• Excellent communication with senior management and stakeholders.

Responsibilities

• Prepare and review daily P&L and risk reports, monitoring limits and resolving issues with relevant teams.
• Analyse P&L by trading strategy and PnL drivers (commodity moves/FX/IR/Greeks).
• Ensure risk limits are adhered to and implement mitigations for breaches.
• Identify significant risk drivers and ensure transparency with senior management.
• Assist front office with approvals for new/non-standard products.
• Define forward curves methodologies for mark-to-market and fair value reporting.
• Support month/quarter/year-end closings with Back Office/Accounting.
• Provide commentary for bi-weekly Risk Committee meetings.
• Review and approve changes to Endur ETRM system.
• Maintain knowledge of Power, Emissions and LNG market signposts and trends.

Skills

P&L analysis

Risk reporting

VaR

Stress testing

Scenario analysis

Excel/VBA

Python

SQL

Endur ETRM

Communication

Education

Numerate degree

Tools

Endur

Python

Matlab

SQL

Job description

Commodities Trading house seeks a Market Risk Analyst (LNG, Power, Emissions) to work on real-time front-line control and business information for the management and traders, including daily PNL, risk reporting and risk analysis, participating also in projects to improve the ETRM and to support broader commercial activities.

The firm is at the forefront of the energy industry, specializing in exploration,

production, transport, and marketing of oil, natural gas and biofuels.

Main responsibilities:

• Prepare and review daily P&L and risk reports, monitoring limits, and proactively resolving any issues in coordination with the relevant teams.
• Analyse PnL by trading strategy and by PnL drivers (commodity market moves/FX/IR/option Greeks).
• Ensure that all risk limits are adhered to and deal with any mitigating actions following the breach of such limits (e.g. monitoring the unwinding of the related positions) and assist in implementing new limits/reallocating existing ones when necessary;
• Assist with identifying significant risk drivers within the business, ensuring transparency with senior management;
• Support front office in obtaining approval for new and non-standard products.
• Assist with defining forward curves methodologies for accurate mark to market and fair value reporting.
• Contribute to the month/quarter/year-end closing and reconciliation activities with Back Office/Accounting teams.
• Provide information and commentary for the bi-weekly Risk Committee meetings.
• Review and approve any relevant changes to the main ETRM system (Endur).
• Guarantee compliance of trading procedures with relevant controls and support when necessary internal and external audit requests.
• Maintain a strong knowledge of current Power, Emissions and LNG market signposts and trends.

Skills and experience required:

• University degree in a numerate discipline (e.g. economics, mathematics, pure science, finance, engineering or similar).
• Relevant experience in a market risk role within a commodity trading environment.
• Strong knowledge of LNG, Power and Emissions markets.
• Strong knowledge of risk metrics such as VaR, stress-testing, scenario analysis.
• Strong knowledge of MS Office suite including Excel and VBA. Knowledge of Python, Matlab and SQL would be a plus.
• Knowledge of the Endur ETRM system would be an advantage.
• Strong organization skills with good attention to detail and the ability to work to tight deadlines.
• Strong communication skills, able to communicate concisely with senior management in the market risk function and with all stakeholders.
• Results-oriented and proactive approach.