Commodities Market Risk Analyst - LNG, Power & Emissions

Morgan McKinley; Greater London; On-site; GBP 70,000 - 100,000; Full time

Job summary

Morgan McKinley is seeking a Market Risk Analyst to support front-line risk control for LNG, Power and Emissions. The role involves real-time P&L, risk reporting, and risk analysis to support management and traders.

You will work on improving ETRM systems and contribute to broader commercial activities, with responsibilities spanning daily risk processes and data commentary for risk committees.

Qualifications

• University degree in a numerate discipline (economics, mathematics, finance, engineering).
• Experience in a market risk role within a commodity trading environment.
• Strong knowledge of LNG, Power and Emissions markets.
• Knowledge of VaR, stress-testing and scenario analysis.
• Excel with VBA; Python/SQL is a plus.
• Endur ETRM experience is advantageous.
• Excellent communication and ability to work under tight deadlines.
• Strong organization and attention to detail.

Responsibilities

• Prepare and review daily P&L and risk reports with limits.
• Analyze PnL by strategy and drivers (commodities, FX, IR, Greeks).
• Monitor risk limits and manage breaches and mitigations.
• Identify significant risk drivers and report to senior management.
• Support front office for approvals of new/non-standard products.
• Define forward curve methods for MTM and fair value reporting.
• Assist month/quarter/year-end closing with Back Office.
• Provide commentary for bi-weekly Risk Committee meetings.
• Review changes to Endur ETRM and ensure controls.
• Maintain knowledge of Power, Emissions, LNG market trends.

Skills

Market risk

LNG

Power

Emissions

VaR

Stress testing

Scenario analysis

Excel VBA

Python

SQL

Communication

Attention to detail

Education

University degree in numerate discipline

Tools

Endur ETRM

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.