Senior Market Risk Analyst

Shell plc; London; On-site; GBP 60,000 - 85,000; Full time

Job summary

A leading company in the energy sector seeks an experienced Products Market Risk Analyst to join their Oil Market Risk team. The role involves assessing risks from trading markets and advising commercial teams on risk appetite. Candidates should have substantial experience in trading and risk management and a relevant degree, with strong analytical, communication, and stakeholder engagement skills essential.

Qualifications

• 3+ years experience in trading and risk management.
• Knowledge of products oil trading and supply.
• Intermediate to Advanced Excel skills.

Responsibilities

• Analyze and report on risk and exposures.
• Provide independent advice on level of risk/return.
• Develop fair economic value principles across the business.

Skills

Stakeholder engagement

Analytical skills

Communication

Quantitative techniques

Problem-solving

Education

Degree in Business, Economics, Mathematics, Science, Engineering or IT

Tools

DEX or comparable energy trading risk management system

Excel

Job description

, United Kingdom

Job Family Group:
Finance

Worker Type:
Regular

Posting Start Date:
June 26, 2025

Business unit:

Experience Level:
Experienced Professionals

Job Description:

The Products Market Risk Analyst is a member of the Oil Market Risk team and reports to the Products Risk Manager STR/STASCO. The Oil Market Risk Team is responsible for understanding the trading markets and strategies employed by the oil trading business of Shell Trading and Supply.

The purpose of the role is to independently identify, measure, and report on the level of risk from new business proposals, material contracts, and trading market conditions in order to advise the commercial teams on mitigation strategies and risk appetite. The role will provide risk assessments and insights to senior management while collaborating with and providing market specific information and advice to others in the global Finance and Risk Management organization. This includes the Valuation, Quantitative Analytics, Risk Management Operations, and Technical Accounting teams among others. The Oil Market Risk Team will provide an independent view as to whether the organization is receiving appropriate compensation for the risk they are taking.

The role works closely with risk leads for all parts of the risk management spectrum including a significant Business Operations component, regular discussions with Front Office, Finance, Compliance and Back Office, and a focal point for crude oil risk related queries from across the RDS group.

Responsibilities

• Develop and apply fair economic value principles across the Products Oil business, coordinating across the global risk managers to ensure consistent application. This includes providing modelling support and challenge with stakeholders on valuation inputs and parameters.
• Ensure that all exposures generated are fully understood and that these exposures and resultant P&L are properly evaluated, validated and analyzed prior to any income being reported.
• Provide independent advice and guidance on the level of risk/return in the business and whether this is congruent with the agreed level of risk appetite.
• Identify risks, look at model and portfolio assumptions, market inputs, pricing issues, valuation parameters and instrument types.
• Produce ad-hoc analysis to explain P&L or exposure changes to Front Office, assist them with queries and requests for system setup changes.
• Ability to solve real world business problems using quantitative and computational techniques.
• Provide analysis, review and comments on New Business Proposals. Where applicable, provide peer review and challenge to the deal proposals for other businesses. Ensure that the systems and support functions are ready for when trading commences.
• Work with the Valuation and Quantitative Analytics teams to understand and model embedded physical optionality and how optimization of physical portfolios changes exposures.
• Assist in limit setting & monitoring of the Products Oil business, but equally play a key role in limit setting globally across the Trading and Supply business. Ensure that all trading activities remain within mandated limits, and escalate appropriately if they are exceeded.
• Ensuring that error-checking is a natural part of all processes so output is 'Right First Time'.
• Promote a culture of continuous improvement across all levels of the organization by having courage to challenge established processes. This includes identifying inefficiencies in local and global operations and opportunities to streamline and automate shared processes and interfaces.
• Support digitalization and automation to smooth the flow of information across the business and to remove manual tasks.
• Drive understanding of the design and utilization of methodologies to assess risk/reward of the portfolio, including VaR back-testing, stress testing, scenario analysis, liquidity analysis.
• Understand and explain changes in VaR by breaking down the impact by its underlying drivers, and ensuring that the VaR accurately reflects the positions taken and volatility of the relevant market.
• Produce content for and occasionally participate in the quarterly Risk Committee meetings with Senior Leadership. Powerpoint skills to produce presentations for Executive level presentations.
• Ensure that Market Risk fulfils its role as an independent "check and balance" function and is viewed as such by other parts of the organization.
• Implement Shell best practices in commodity trading risk management.
• Actively manage resources & processes to optimise the efficient analysis of risk across the portfolio, manage change and prioritise accordingly.
• Define and advance analytical mindset and behaviours by providing support for training and learning opportunities to analysts to enhance their understanding of trade book strategies, complex deals, trading and risk mandates, and market fundamentals.

Competencies

• Capable of being independent from front office; able to objectively analyse and report risks and exposures. Regularly engage in discussion with traders and management about exposure taken and resultant P&L.
• Strong stakeholder engagement skills, having the self-confidence to challenge traders on deals, valuations, positions, limit mandates.
• Excellent communication skills; the role will require writing reports and policies and presenting analysis and insights to senior stakeholders. Due to the global nature of the business the role requires communicating using different methods, in a variety of formats, to people in many countries.
• Team player, good interpersonal skills. Flexible to work with colleagues across numerous time zones with both Market Risk at the Trading Hubs in London, Rotterdam, Houston, Dubai and Singapore; but equally the Business Operations centres in Chennai, Manilla, Bangalore.
• Ability to articulate and communicate complex scenarios and ideas in a clear and concise manner whilst understanding the perspective and experience of others. Ability to challenge sensitive issues constructively whilst maintaining working relationships.
• This is a role for a person who brings diversity of thought, who is not afraid to speak up and who is comfortable challenging senior stakeholders.
• Proactively identify and communicate potential issues with the appropriate teams or stakeholders. Making sure problems raised are followed up and worked on until completion.
• Able to collaborate and produce good quality output using virtual chains of command.
• Working closely with the Credit and other Risk teams to ensure trading risks and returns are fully understood, captured and challenged where necessary. This will also include longer term risks, inherent in contracts such as, but not limited to, storage, pipelines, time-charters.
• The role works closely with risk leads for all parts of the risk management spectrum including a significant Business Operations component. The incumbent is tasked with ensuring that the business that they cover is widely understood and that any changes to it or the supporting risk management framework are communicated properly to all stakeholders.
• Ability to coach and mentor team members as well as members of other teams who require knowledge or skills that Risk can provide.

Requirements

• Degree in Business, Economics, Mathematics, Science, Engineering or IT; or relevant workplace experience in the energy trading industry.
• Experience (3+ years or equivalent) within a trading and risk management organization, including understanding of trading, operations, risk, compliance and mid/back office business processes, policies, procedures and controls.
• Knowledge of the infrastructure of the products oil trading and supply industry such as oil fields, export terminals, shipping, pipelines and refineries. An understanding of the fundamental economics and pricing mechanisms behind these physical assets and flows of crude, and the trading strategies that relate to them. A deep familiarity of the different crude types and how their specifications effect the value, and how the pricing mechanisms of the benchmark contracts work.
• Understanding of financial, commodity and energy markets, derivative instruments, and hedging techniques. Knowledge of options theory, risk of options, and trading strategies.
• Understanding of current regulatory proposals and how these can impact Shell.
• Experience with DEX or comparable energy trading risk management system and ability to fully leverage its functionality.
• Intermediate to Advanced Excel skills; such as pivot tables, lookups, VBA macros.
• Candidates shall possess extremely good judgment and shall be able to provide advice, while balancing risk and value on a daily basis.
• Reliable, dependable and disciplined. Excellent attention to detail, methodical, organized. A trusted partner of the business.
• Resilient when working under pressure, with the ability to prioritise tasks to meet key deadlines.
• Good judgement to provide advice, question discrepancies, escalate issues.
• Continuous improvement mindset; utilizing tools to streamline and automate work to boost efficiency.
• Scientific mindset; identify, investigate, analyse, research, discuss, record, and resolve issues.
• Learner mindset; innovative and creative, excellent problem-solving capabilities.
• A critical and strategic thinker, with a long term view on risk but with a short term and pragmatic view on implementation.

There is a preferred candidate identified.

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