Lead Risk Analyst

JR United Kingdom; Hounslow; Hybrid; GBP 60,000 - 80,000; Full time

Job summary

A leading energy company in Hounslow is looking for a Commodity Risk Analyst to work within its Gas and Power Trading International team. The role involves risk measurement and control, development of risk models, and interaction with the trading team. Candidates should possess strong analytical skills, a quantitative degree, and ideally a professional qualification in financial analysis. This position offers a hybrid work model and various employee benefits.

Benefits

Life and health insurance

Medical care package

Learning and development opportunities

Qualifications

• Strong analytical skills including the ability to understand and communicate complex transactions.
• Advanced Excel or Python skills for valuation and risk models.
• Understanding of market risk measurement basics.

Responsibilities

• Own and modernize MVaR and Stress processes.
• Provide rigorous reporting and analytics on risks.
• Interact with the Front-Office on trading strategies.

Skills

Analytical Thinking

Market Risk Management

Communication

Commercial Acumen

Decision Making

Education

University degree in a quantitative subject

Advanced qualification in finance or mathematics

Tools

Excel

Python

Job description

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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!

Trading & Shipping (T&S) is BP's face to the traded markets for BP in oil, gas, power, chemicals and finance. T&S's role is to enhance Group value through distinctive supply, commodity trading, risk management and information technology skills underpinned by an elite finance, control and compliance infrastructure. T&S has a dynamic and highly skilled workforce, which brings value by combining analysis and commercial innovation with the material asset base of BP.

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 BPs supply and trading business and is a key control position within the Commodity Risk and T&S Finance organization. This 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. This role holds the primary interface into the trading team for trading activity and requires balancing independence with a business enabling partnership. This position requires substantial knowledge of the activities within Commodity Risk Analytics to meet the teams 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&Ss 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&Ss MTM and market risk policies and ensuring their applications in GPTI.

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

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!

Trading & Shipping (T&S) is BP's face to the traded markets for BP in oil, gas, power, chemicals and finance. T&S's role is to enhance Group value through distinctive supply, commodity trading, risk management and information technology skills underpinned by an elite finance, control and compliance infrastructure. T&S has a dynamic and highly skilled workforce, which brings value by combining analysis and commercial innovation with the material asset base of BP.

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 BPs supply and trading business and is a key control position within the Commodity Risk and T&S Finance organization. This 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. This role holds the primary interface into the trading team for trading activity and requires balancing independence with a business enabling partnership. This position requires substantial knowledge of the activities within Commodity Risk Analytics to meet the teams 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&Ss 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&Ss MTM and market risk policies and ensuring their applications in GPTI.

Essential education

A University degree or equivalent experience in a quantitative subject area is a requirement. Advanced qualification in finance, economics, mathematics, science, engineering, etc. is highly desirable. In addition, a professional qualification in financial analysis (i.e. CFA), risk management (i.e. 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 wide range of derivatives
• Understand the basic principles of market risk measurement and control as well as familiarity of the alternative methods available to calculate value-at-risk, define appropriate risk factors, account for non- linear instruments,etc.;
• Be familiar with the practical difficulties/limitations of MVaR and other risk measures (volumetric limits, Greeks, etc) either through working in the middle office or a front office role;
• Understands the need for a robust risk management framework in a trading environment. Will know how risk limits should be set and controlled in order to ensure that the organization only takes the risks it is comfortable with;
• Possess a good understanding of the fundamentals of energy trading, including extensive familiarity with derivatives and other trading instruments.
• Wide knowledge of European gas, power and LNG markets and various instruments
• Ability to deploy a variety of communication styles according to the situation and communicate effectively with partners and peers
• Attention to detail and ability to work within a very deadline orientated environment

Desirable criteria & qualifications?

• Solid understanding of global gas and power market drivers, physical assets, and fundamentals
• Validated experience preferably in LNG or Gas/Power Europe Product Control, Market Risk, or Trading roles
• Professional qualifications in financial analysis, risk management, accounting, or equivalent areas
• Relevant market risk, middle office, or trading experience, acquired working either within BP or at a firm in a related field (energy trading firm, financial institution, etc.).
• Must be a great teammate able to operate within a complex and dynamic trading business. In addition, they must possess the interpersonal, communication and decision-making skills and sound commercial judgment to build credible relationships across T&S.

Management and Interaction Skills:

• The successful candidate will be very articulate and able to communicate complex issues to non-specialists in a concise and clear manner; and use their credibility and integrity to acquire support from the people they connect with.

Performance Drive:

• Demonstrates a strong focus on delivering solutions in a timely and effective manner with minimum guidance or supervision;
• Exercises judgment and make sound decisions in the face of incomplete data with varying degrees of risk; and
• Knows how to effectively and efficiently handle a variety of tasks, set priorities and measure and anticipate problems in order to accomplish specific priorities, goals and results.

Additional Information

At bp, we provide the following environment and benefits to you:

A company culture where we respect our diverse and unified teams, where we are proud of our achievements and where fun and the attitude of giving back to our environment are highly valued

Possibility to join our social communities and networks

Learning opportunities and other development opportunities to craft your career path

Life and health insurance, medical care package

And many other benefits.

We are an equal opportunity employer and value diversity at our company. We do not discriminate based on race, religion, colour, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status. We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, perform crucial job functions, and receive other benefits and privileges of employment. Dont hesitate to get in touch with us to request any accommodations.

Travel Requirement

Negligible travel should be expected with this role

Relocation Assistance:

This role is not eligible for relocation

Remote Type:

This position is a hybrid of office/remote working

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 at our company. 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/neurocognitive functioning, veteran status or disability status.Individuals with an accessibility need may request an adjustment/accommodation related to bps recruiting process (e.g., accessing the job application, completing required assessments, participating in telephone screenings or interviews, etc.). If you would like to request an adjustment/accommodation related to the recruitment process,pleasecontact us.
If you are selected for a position and depending upon your role, your employment may be contingent upon adherence to local policy. This may include pre-placement drug screening, medical review of physical fitness for the role, and background checks.

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