Senior Manager Market Risk - Refining & Products Trading

bp; City Of London; Hybrid; GBP 132,000 - 171,000; Full time

Job summary

A leading global energy company is seeking a Senior Manager in Market Risk located in London. This role involves leading a global team to provide market risk analytics and drive risk strategy. The successful candidate will ensure effective risk oversight and foster a culture of accountability while developing talent and delivering insights in a dynamic trading environment. A competitive salary package and hybrid working arrangements are offered.

Benefits

Open and inclusive culture

Great work-life balance

Extensive learning and development opportunities

Life and health insurance

Generous vacation and paid leave

Qualifications

• Previous Market Risk or relevant Front Office / Analytics experience in energy trading.
• Strong critical thinking and project leadership skills.
• Deep understanding of commodity trading and derivatives.
• Ability to evaluate complex deals aligning risk with strategy.
• Advanced analytical skills in VaR and stress tests.
• Excellent communication and interpersonal skills.

Responsibilities

• Lead a globally distributed market risk team.
• Deliver risk oversight aligned with commercial objectives.
• Provide insights on market trends and regulatory changes.
• Challenge and support trading decisions regarding risk.

Skills

Analytical Thinking

Business Acumen

Collaboration

Commodity Risk Management

Creativity and Innovation

Data visualization and interpretation

Decision Making

Exposure Management

Internal control and compliance

Market Knowledge

Market Risk Management

Operational Risk

Portfolio analytics

Problem Solving

Resilience

Sentiment and Trends

Thought Leadership

Trade discipline and compliance

Trade execution and management

Trading and shipping data knowledge

Trading Fundamentals

Trading knowledge

Trading risk controls

Education

Bachelor's degree (or equivalent)

MBA, CFA, or a similar advanced degree

Job description

Job Description

Market Risk is a critical control and strategic advisory function within the Supply, Trading & Shipping (ST&S) Finance organisation. It is responsible for delivering independent and actionable insights across the global RPT (Refining & Products Trading) portfolio.

Reporting directly to the VP Risk, the Senior Manager will lead a high-performing global team, providing market risk analytics, VaR reporting, and daily exposure monitoring. This team serves as the primary interface with the trading front, ensuring that risk oversight is both independent and commercially aligned to support informed decision-making.

The position plays a pivotal role in shaping risk strategy, assessing alignment between trading positions and market views, and providing guidance on optimal risk deployment across products and geographies. An understanding of trading strategies, market dynamics, and risk mitigation techniques is key, as well as the ability to integrate technical, and geopolitical insights into risk assessments. It demands a balance of independence and partnership, enabling the business while maintaining a strong control framework. The successful candidate will also contribute to both regional and global strategic agendas, leading standardisation initiatives, and supporting new market activities.

This role offers great opportunity to influence global risk strategy, develop talent, and drive continuous improvement in a fast-paced, high-impact trading environment!

Key Accountabilities

• Lead a globally distributed team, fostering a culture of accountability, continuous improvement, and commercial partnership.
• Actively lead staff development, succession planning, and regional execution of global / strategic agendas.
• Provide market risk oversight aligned with commercial objectives and trading strategies. Translate risk metrics into business-relevant insights for the Front Office and senior stakeholders.
• Manage communications with Front Office, regional CFOs, Heads of Commodity Risk, and other key partners, enabling faster, clearer, and more informed decisions.
• Deliver insights on market trends, regulatory changes, emerging risks, and scenario analysis to inform decision-making.
• Independently challenge and / or support trading decisions, advising on optimal positioning and risk deployment.
• Promote a culture of risk awareness, accountability, and continuous improvement.
• Recommend adjustments to optimise risk-reward profiles and handle liquidity constraints.
• Lead the development and execution of market risk models, ensuring accuracy and relevance across portfolios. Ensure consistency across process, systems, and people.
• Ensure timely and accurate valuation of trading exposures and delivery of high-quality risk reporting.
• Shape and enforce risk policies, ensuring compliance with global regulatory standards and internal controls.
• Drive cross-functional collaboration to identify, assess, and resolve market risk issues, as well as supporting on new market entries and strategic deals.
• Champion process standardisation, operational efficiency, and system enhancements in collaboration with Technology and global teams.

Requirements

• Previous Market Risk or relevant Front Office / Analytics experience; acquired working either within bp or within the energy trading sector.
• Strong critical thinking and project leadership across multi-disciplinary teams.
• Deep understanding of physical and financial commodity trading (gas / oil), including derivatives and valuation techniques.
• Demonstrated ability to evaluate complex deals and align risk with commercial strategy.
• Advanced analytical and financial skills, specifically VaR, stress tests, and liquidity measures.
• Excellent communication and interpersonal skills, and able to influence across all levels.
• Track record of people leadership, team development and delivering against organisational expectations.
• Ability to hold multiple priorities under pressure and drive improvements.
• Strong engagement and relationship-building skills across trading, risk, and support functions.
• Commitment to excellence, independence, and proactive problem-solving in a dynamic environment.
• A strong business / analytical mindset
• Bachelor's degree (or equivalent).
• MBA, CFA, or a similar advanced degree would be an asset.

Pay

How much do we pay (Base)? $175k - $225k

Note that the pay range listed for this position is a genuinely expected and reasonable estimate of the range of possible base compensation at the time of posting.

Benefits

We provide an excellent working environment and employee benefits such as an open and inclusive culture, a great work-life balance, tremendous learning and development opportunities to craft your career path, life and health insurance, medical care package and many others.

We support our people to learn and grow in a diverse and exciting environment. We believe that our team is strengthened by diversity. We are committed to crafting an inclusive environment in which everyone is respected and treated fairly.

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, gender, sexual orientation, age, marital status, veteran status, or disability status.

This position is eligible for US Benefits - Core. This position offers paid vacation depending on your years of relevant industry experience and will range from 120 - 240 hours of vacation per year for full time employees (60 - 240 hours of vacation per year for part time employees). You will also be eligible for 9 paid holidays per year and 2 personal choice holidays. You can find out more on how we calculate paid vacation and view our generous vacation and holiday schedules at Core U.S. Benefits . Bp has a parental leave policy as well, which offers up to 8 weeks' paid leave for the birth or adoption of a child. Learn more by visiting Core U.S. Benefits

We offer a reward package to enable your work to fit with your life. These offerings include a annual bonus program, long-term incentive program, and generous retirement benefits that include a 401k matching program. These benefits include a pension for eligible employees. You may learn more about our generous benefits at Core U.S. Benefits .

Remote Type

This position is a hybrid of office / remote working

Travel Requirement

Up to 10% travel should be expected with this role

Relocation Assistance

This role is not eligible for relocation

Skills

Analytical Thinking, Business Acumen, Collaboration, Commodity Risk Management, Creativity and Innovation, Data visualization and interpretation, Decision Making, Exposure Management, Internal control and compliance, Market Knowledge, Market Risk Management, Operational Risk, Portfolio analytics, Problem Solving, Resilience, Sentiment and Trends, Thought Leadership, Trade discipline and compliance, Trade execution and management, Trading and shipping data knowledge, Trading Fundamentals, Trading knowledge, Trading risk controls

Equal Employment Opportunity Statement

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, gender, sexual orientation, age, marital status, veteran status, or disability status.