Lead Market Risk Analyst

bp; City Of London; Hybrid; GBP 50,000 - 70,000; Full time

Job summary

A leading energy company in London is seeking a Commodity Risk Analyst to enhance risk measurement and control within their trading framework. The ideal candidate will have a degree in a quantitative field and strong analytical skills, proficient in developing risk models. This hybrid position ensures a collaborative work environment focused on delivering independent analysis and reporting to support trading activities. Excellent communication abilities are essential to interact effectively with stakeholders.

Benefits

Life and health insurance

Learning and development opportunities

Diverse and inclusive work environment

Qualifications

• Strong analytical skills to assess market risk impact.
• Ability to develop valuation and risk models.
• Familiarity with market risk measurement methods.

Responsibilities

• Drive modernization of MVaR and Stress processes.
• Deliver accurate reporting and analytics for business insights.
• Provide market risk input for new activities.

Skills

Analytical Thinking

Advanced Excel or Python skills

Market Risk Management

Communication

Education

University degree in a quantitative subject area

CFA or FRM qualification

Tools

Valuation and risk models

Job description

Overview

Entity: Finance

Job Family Group: Finance Group

Job Description: Our purpose is to deliver energy to the world, today and tomorrow. For over 100 years, bp has focused on discovering, developing, and producing oil and gas in the nations where we operate. We are one of the few companies globally that can provide governments and customers with an integrated energy offering. Delivering our strategy sustainably is fundamental to achieving our ambition to be a net zero company by 2050 or sooner! BP is committed to a diverse and inclusive work environment with fairness, equal opportunity and meritocracy for all employees.

Trading & Shipping (T&S) is BP's face to the traded markets for BP in oil, gas, power, chemicals and finance. T&S enhances Group value through distinctive supply, commodity trading, risk management and information technology underpinned by an elite finance, control and compliance infrastructure. T&S combines analysis and commercial innovation with BP's material asset base.

T&S fosters a diverse and inclusive work environment for all employees. We are proud of our stance on fairness, equal opportunity and meritocracy, which focuses on all of our employees reaching their full potential.

Role synopsis

This role sits within the Gas and Power Trading International (GPTI) Commodity Risk team, within BP's supply and trading business, and is a key control position within the Commodity Risk and T&S Finance organization. The role is accountable for providing deep business understanding on risk measurement and control through development and maintenance of robust measurement models, analysis of market conditions and trading positions, and interpretation and improvement of risk and control policies and procedures. The role holds the primary interface into the trading team for trading activity and requires balancing independence with a business enabling partnership. Substantial knowledge of the activities within Commodity Risk Analytics is required to meet the team\'s core accountability of delivering independent analysis and reporting.

Key accountabilities

Under the direct supervision of the Head of Commodity Risk, GPTI, you will:

• Own and drive modernization of MVaR and Stress processes
• Improve and develop market risk measurement models and methodologies
• Daily MVaR, Exposures, and Stress Tests: provide explanation of why these numbers have changed, and interact with Front-Office in understanding the trading strategies underpinning the risk that is being measured
• Deliver timely, rigorous, and accurate reporting and analytics that provide insight into risks of T&S\'s business activities to support business decision making and strengthen the control environment
• Monthly calculation on NPVaR and quarterly calculation of NOI: execution of model, explanation of drivers, and interacting with colleagues to understand the trading strategies relating to the risk
• Provide market risk input required as part of the process through which new activities and projects considered by the Front Office are being evaluated and approved by GPTI
• Provide constructive challenge to trading activity to ensure it is compliant and aligned to intended trading strategy
• Work daily with Finance Analytics
• Interpret T&S\'s MTM and market risk policies and ensure their applications in GPTI

Education and experience

Essential education: A University degree or equivalent experience in a quantitative subject area is required. Advanced qualification in finance, economics, mathematics, science, engineering, etc. is highly desirable. A professional qualification in financial analysis (e.g. CFA), risk management (e.g. FRM, ERP, or PRM), business or operations research is an advantage.

Essential experience and job requirements:

• Strong analytical skills including the ability to understand and communicate sophisticated transactions with embedded optionality as well as assessing the market risk impact of those transactions on an existing portfolio
• Strong numeracy and advanced Excel or Python skills, ability to develop valuation and risk models for a wide range of derivatives
• Understand the basic principles of market risk measurement and control and familiarity with alternative methods to calculate value-at-risk, define appropriate risk factors, and account for non-linear instruments
• Be familiar with practical difficulties/limitations of MVaR and other risk measures (volumetric limits, Greeks, etc.) from middle or front office experience
• Understanding of robust risk management framework in a trading environment; knowledge of how risk limits should be set and controlled
• Good understanding of fundamentals of energy trading, including derivatives and other trading instruments
• Wide knowledge of European gas, power and LNG markets and instruments
• Ability to adapt communication style to various stakeholders and collaborate effectively
• Attention to detail and ability to work in a deadline-driven environment

Desirable criteria & qualifications

• Solid understanding of global gas and power market drivers, physical assets, and fundamentals
• Experience in LNG or Gas/Power Europe Product Control, Market Risk, or Trading roles
• Professional qualifications in financial analysis, risk management, accounting, or equivalent areas
• Market risk, middle office, or trading experience, within BP or a related firm
• Strong teammate with interpersonal, communication and decision-making skills and sound commercial judgment

Management and interaction

• Very articulate; able to communicate complex issues to non-specialists concisely and clearly; build credibility and integrity to gain support

Performance drive

• Delivers solutions in a timely and effective manner with minimal supervision
• Exercises good judgment with incomplete data and varying risk; plans and prioritizes tasks to meet goals

Additional information

At bp, we provide the following environment and benefits:

• Respect for diverse, unified teams with achievements, fun and environmental giving back values
• Opportunity to join social communities and networks
• Learning and development opportunities to craft your career
• Life and health insurance, medical care package
• And many other benefits

We are an equal opportunity employer and value diversity. We do not discriminate based on race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status or disability status. Reasonable accommodations are provided for applicants with disabilities. Contact us to request accommodations.

Travel and relocation

Travel: negligible

Relocation: not eligible

Remote type: hybrid of office/remote

Skills

Analytical Thinking, Commercial Acumen, Commodity Risk Management, Communication, Creativity and Innovation, Curiosity, Data visualization and interpretation, Decision Making, Exposure Management, Group Problem Solving, Internal control and compliance, Market Knowledge, Market Risk Management, Operational Risk, Portfolio analytics, Resilience, Thought Leadership, Trade discipline and compliance, Trade execution and management, Trading and shipping data knowledge, Trading knowledge

Legal disclaimer

We are an equal opportunity employer and value diversity. We do not discriminate on the basis of race, religion, color, national origin, sex, gender, gender expression, sexual orientation, age, marital status, socioeconomic status, neurodiversity, veteran status or disability status. Individuals may request accommodations related to the recruitment process. For accommodations, contact us. Employment may require pre-placement checks where applicable.