Commodities Portfolio & Risk – Senior Investment Role

Goldman Lloyds; New York (NY); Hybrid; USD 180,000 - 260,000; Full time

Job summary

Goldman Lloyds seeks an experienced Commodities Market Risk Manager to provide independent oversight across its commodity investment portfolios in a highly quantitative role. You will work closely with PMs and traders to challenge risks, understand positioning, and assess how strategies behave under different market scenarios.

The role emphasizes deep knowledge of natural gas, power, oil/energy and metals markets, with a focus on VaR, stress testing and nonlinear risks in complex derivatives

Qualifications

• Significant experience across commodities market risk and portfolio risk.
• Deep understanding of financial commodity derivatives (futures, options, swaps).
• Strong quantitative background with experience in complex derivatives portfolios.

Responsibilities

• Provide market risk oversight across commodity futures, options, swaps and other derivatives.
• Analyse portfolio exposures across natural gas, power, oil/energy, metals and other commodity markets.
• Partner with commodities PMs and traders to understand positioning, trade construction and changing portfolio risks.
• Assess directional, spread, basis, curve, volatility, correlation, liquidity and concentration risk.
• Perform stress testing, scenario analysis, sensitivities and risk decomposition.
• Analyse options portfolios including Greeks, volatility exposures and nonlinear risks.
• Identify concentrations and emerging risks not captured by headline metrics.
• Evaluate portfolio behaviour under historical and hypothetical dislocations.
• Challenge PMs on exposures, sizing and portfolio construction.
• Monitor risk limits and escalate material changes in portfolio risk.
• Develop and enhance quantitative frameworks used to measure commodities risk.

Skills

Commodities risk management

Quantitative analysis

Derivatives risk

Portfolio risk

VaR & stress testing

Communication with PMs/traders

Tools

Python

Job description

New York - Hybrid On-Site

Total Comp: Base + Competitive Bonus (Advertised is base salary only)

A leading alternative investment firm is looking to hire an experienced Commodities Market Risk Manager to provide independent risk oversight across its commodities investment portfolios.

The role is focused specifically on financial commodities and derivatives, working closely with portfolio managers and traders to understand positioning, challenge portfolio risks and assess how strategies could behave across different market environments.

This is a highly quantitative and investment-facing risk position, requiring someone who understands commodities markets at a detailed trading and portfolio level.

The Role

• Provide market risk oversight across commodity futures, options, swaps and other derivative instruments.
• Analyse portfolio exposures across natural gas, power, oil/energy, metals and other commodity markets.
• Partner directly with commodities PMs and traders to understand positioning, trade construction and changing portfolio risks.
• Assess directional, spread, basis, curve, volatility, correlation, liquidity and concentration risk.
• Perform detailed stress testing, scenario analysis, sensitivities and portfolio risk decomposition.
• Analyse options portfolios including Greeks, volatility exposures and nonlinear risks.
• Identify concentrations and emerging risks that may not be captured adequately by headline risk measures.
• Evaluate portfolio behaviour under historical and hypothetical commodity-market dislocations.
• Challenge PMs constructively around exposures, sizing and portfolio construction.
• Monitor risk limits and provide clear escalation and analysis of material changes in portfolio risk.
• Develop and enhance quantitative frameworks used to measure and understand commodities risk.

Profile

• Significant experience across commodities market risk, commodities trading, quantitative commodities or portfolio risk.
• Deep understanding of financial commodity derivatives, including futures, options and swaps.
• Strong knowledge of one or more major commodity markets, ideally natural gas, power, oil/energy or metals.
• Strong quantitative background with experience analysing complex derivatives portfolios.
• Detailed understanding of Greeks, volatility, correlation, basis, spreads, forward curves and nonlinear risk.
• Experience with VaR, stress testing, scenario analysis, sensitivities and risk limits.
• Ability to understand a PM's investment thesis while independently identifying and challenging the associated risks.
• Strong communication skills and credibility working directly with senior commodities PMs and traders.
• Python or similar quantitative/programming capability would be highly advantageous.