Commodities Market risk Manager - Oil Trading

Morgan McKinley; Greater London; On-site; GBP 85,000 - 140,000; Full time

Job summary

Morgan McKinley in London is seeking a Senior Market Risk Analyst to provide daily performance and market risk analysis for the oil trading business. You will work closely with traders and other teams to monitor risk and optimize procedures.

The role offers involvement in automation projects, developing tools for front-office support and exploring biofuels markets with a strong emphasis on analytics and career progression.

Qualifications

• University degree in a numerate discipline (e.g. economics, mathematics, finance)
• Relevant experience in a market risk role within a commodity trading company
• Strong knowledge of refined products markets and shipping
• Advanced knowledge of VaR, stress-testing and scenario analysis
• Strong knowledge of pricing and hedging physical activities using derivatives
• Proficiency in MS Excel; SQL and Python are advantageous
• Knowledge of Endur ETRM is advantageous
• Analytical mindset with strong numerical skills
• Strong communication with senior management and stakeholders
• Excellent organization and attention to detail

Responsibilities

• Prepare and review daily PnL and risk reports, monitor limits and coordinate with teams
• Ensure risk limits are adhered to and assist with new limit implementations
• Identify significant risks and communicate to senior management
• Stay updated on refined products markets
• Define forward curve methodologies for mark-to-market reporting
• Support Front Office with approval of new/non-standard products
• Provide information and commentary for Risk Committee meetings
• Support Back Office with month/quarter-end activities
• Review changes to the Endur ETRM system
• Mentor junior team members and share knowledge across teams

Skills

Market risk

VaR

Stress testing

Scenario analysis

Pricing & hedging

Analytical skills

Communication

Mentoring

Education

University degree (numerate discipline)

Tools

Endur ETRM

Excel

VBA

SQL

Python

Job description

Leading Commodities Trading house seeks a Senior Market Risk Analyst responsible for providing daily performance and market risk analysis for the oil trading business in London, working closely with traders and other teams across the firm.

The team is constantly striving to improve its procedures through automation and a significant aspect of the role will be to continue the development of software to streamline daily processes and enhance the team’s analytic capabilities. In addition, the team is currently developing software to assist front office in system trading, using a variety of techniques including machine learning and artificial intelligence. There would be scope within this role to participate in the development of these tools.

Immerse yourself in the fast-evolving world of energy trading, particularly within the growing biofuels market. The firm is committed to your professional development, offering a dynamic environment that values knowledge, innovation and career progression.

Main responsibilities:

• Prepare and review daily PnL and risk reports, monitoring limits, and proactively resolving any issues in coordination with the relevant teams.
• Ensure that all risk limits are adhered to and assist in implementing new limits when
• Assist in identifying significant risks within the business and ensuring they are transparent to senior management.
• Remain up-to-date with the current refined products markets.
• Assist in defining forward curve methodologies for accurate mark-to-market and fair value reporting.
• Support Front Office with the approval of new products and non-standard products.
• Provide information and commentary for the bi-weekly Risk Committee meetings.
• Support Back Office with month and quarter-end activities as required.
• Review and approve any relevant changes to the main ETRM system (Endur).
• Mentor junior members of the team and promote knowledge sharing between teams.

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 company.
• Strong knowledge of refined products (blending, storage, biofuels, etc) and shipping markets.
• Advanced knowledge of risk metrics such as VaR, stress-testing, scenario analysis.
• Strong knowledge of pricing and hedging of physical activities with the use of various derivatives instruments (futures, swaps, options).
• Strong knowledge of MS Office suite including Excel and VBA. SQL and Python would be a strong advantage.
• Knowledge of the Endur ETRM system would be an advantage.
• Analytical mindset and strong numerical skills.
• Strong communication skills, able to communicate concisely with senior management in the market risk function and with all stakeholders.
• Strong organization skills with good attention to detail and the ability to work to tight