Market Risk Manager

INEOS Energy; Greater London; On-site; GBP 50,000 - 90,000; Full time

Job summary

An established industry player in the energy sector is seeking a Market Risk Manager to optimize trading strategies and manage market risks. This role involves independent risk assessment, developing trading risk metrics, and collaborating with various teams to enhance trading control. The ideal candidate will possess a strong quantitative background, experience in commodity trading, and excellent communication skills. Join a dynamic environment where your insights will directly contribute to the company's success during the energy transition. This is a unique opportunity to make a significant impact in a forward-thinking organization.

Qualifications

• 3-5 years of experience in Commodity Market Risk.
• Strong quantitative skills and ability to analyze risks.

Responsibilities

• Design key trading risk metrics and evaluate complex trading strategies.
• Supervise trading exposure and profit & loss reporting.

Skills

Quantitative Analysis

Risk Reporting

Statistical Evaluation

Relationship Management

Market Risk Analysis

Machine Learning Models

Education

BSc in Mathematics

BSc in Economics

BSc in Finance

BSc in Statistics

BSc in Accounting

Tools

Horizon/FEA

Job description

At INEOS Energy we produce and trade oil, gas, liquefied natural gas (LNG) and carbon credits. This is supported by our investments in low carbon technologies, which will help sustain our business through the energy transition. Direct examples of these areas are ‘Project Greensand’, our pioneering carbon storage project in the Danish North Sea and our investment in HydrogenOne Capital.

IET is responsible for trading the gas production from INEOS’ upstream assets in the North Sea and the onshore and offshore assets in the USA. It also provides access to market for its internal businesses in countries across Europe with a significant overall energy demand (gas, financial power, carbon). The primary role of the IET team is to ensure that energy trading and portfolio benefits, including for upstream assets, are optimised through access to energy markets.

Reporting to the Director of Risk, the Market Risk Manager will independently identify, measure, and report on the level of economic/market risk from new business proposals, material contracts, and trading exposure in order to advise the commercial teams on mitigation strategies and risk appetite. The role will require someone to bring a commercially aware and entrepreneurial mindset to the mid office function to ensure the trading control environment is designed and implemented effectively through robust policies and procedures, and to ensure that such policies and procedures are adhered to.

Responsibilities & Accountabilities

Market Risk

• Design and produce key trading risk metrics (VaR, stress testing, skew analysis) and lead the continuous development of these daily processes from both a technical and efficiency perspective (e.g. automation of tasks)
• Evaluate the risk impact of complex trading strategies which may require the use of technical mathematical models, e.g. Black-Scholes models
• Lead the valuation process for long-term deals, accurately capturing the impact of a range of market scenarios to reflect the risk-to-reward ratios of new projects, and identifying the key sensitivities associated with them
• Provide risk analysis in assessing new trading strategies, trading limits, and other business assessment of risk across a range of commodities (crude & refined products, gas, LNG, carbon)
• Lead and/or support systems strategies for the market risk and trade control functions with respect to exposure management and management information systems.
• Manage trade control systems where we use Horizon/FEA
• Work closely with the Director of Risk, front office, and finance for effective allocation of trading risk capital (market, credit, cash)
• Bring mark to market principles to the control environment and interface with finance to ensure effective reporting
• Supervise daily/weekly/monthly trading exposure and daily profit & loss reporting.
• Supervise KPI calculation and ensure reporting deadlines are met
• Set up new exposure management or entrepreneurial trading books as required by the business
• Work in a collaborative environment, helping to support trade control and finance business functions where needed, including setting up of new business activities and second line of defence monitoring of technical team outputs

Experience, Education & Skills

• BSc in mathematics, economics, finance, statistics, accounting or related fields
• 3-5 years’ experience in a Commodity Market Risk position
• Experience in building relationships with senior stakeholders
• Strong quantitative skills, applying statistical evaluation to explain complex data variations
• Capable of being independent and able to objectively analyse and report risks and exposures
• Regularly engage in discussion with traders and management about exposure and P&L
• Ability to provide accurate and relevant risk reporting and analysis to control activities of the trading team
• Strong understanding of commodities trading and markets
• Apply machine learning models to check accuracy of models and understand the relationship between elements in trading portfolios
• Strong understanding of financial accounting including accruals and mark-to-market

Behavioural Skills & Personal Attributes

• High energy levels and a hands-on approach
• Highly driven, determined & hard working – able to deliver against tight deadlines
• Excellent people skills to interact with external and internal contacts both at executive level and a technical level
• Excellent verbal, written and presentation communication skills
• A critical and strategic thinker, with a long-term view on risk but with a short-term and pragmatic view on implementation
• Be versatile and enjoy working within a team environment.
• Ability to challenge sensitive issues constructively whilst maintaining strong working relationships
• Proactively identify and communicate potential issues with the appropriate teams or stakeholders. Make sure problems raised are followed up and worked on until completion

Seniority level

Not Applicable

Employment type

Full-time

Job function

Other

Industries

Oil and Gas