Lead Middle Distillates Trader

CITGO Petroleum Corporation in; Houston (TX); Hybrid; USD 120,000 - 160,000; Full time

Job summary

CITGO Petroleum Corporation seeks a Lead Middle Distillates Trader to develop trading strategies and manage risk exposure. Responsible for negotiations on contracts and mentoring less experienced traders, this role requires a strong background in the petroleum industry and demonstrated leadership abilities. Opportunities include working remotely and attractive benefits.

Benefits

Remote Work options

9/80 Work Schedule Option

Annual Vacation Incentive

Paid Vacation Time

Company-Paid Holidays

Excellent 401(k) Match

Pension Plan

Company-Paid Sick Leave

Medical, Dental, & Vision Plans

Educational Assistance Plan

Qualifications

• 10+ years of experience in the industry, preferably in Middle Distillate commodities.
• Strong technical knowledge of clean products and refining operations.
• Capable of serving as a mentor to less experienced traders.

Responsibilities

• Develops and executes trading strategies for increased profitability.
• Negotiates spot and term contracts.
• Works closely with compliance and risk control groups.

Skills

Leadership

Communication

Negotiation

Problem Solving

Education

Bachelor's Degree

Degree in Chemical Engineering

Degree in Economics

Degree in Business

Job description

Lead Middle Distillates Trader (Finance)

CITGO PETROLEUM CORPORATION

CITGO Petroleum Corporation is a recognized leader in the refining industry and operates under the well-known CITGO brand. CITGO owns and operates three refineries located in Lake Charles, LA.; Lemont, IL.; and Corpus Christi, TX, and wholly and/or jointly owns 38 active terminals, six pipelines and three lubricants blending and packaging plants. With approximately 3,300 employees and a combined crude capacity of approximately 807,000 barrels-per-day (bpd), positions CITGO as one of the best-branded supplier companies in the industry.

At CITGO our people are our most important resource. Our core values are Safety, Integrity, Respect, Accountability, and Care.

Job Summary

We are currently seeking high-energy professionals who are results-focused with sound business acumen and problem-solving skills to join our dynamic organization as a Middle Distillates Lead Trader. Ideal candidates should be natural team players, have an eye for innovation and strong leadership skills to positively influence others on the team.

As a Lead Middle Distillates trader, this individual will cover and develop trading strategies and execution for CITGO's Asset Backed Trading Business. The applicant should have outstanding experience of the U.S. domestic and Global markets, Regional and Global arbitrage, in addition to an understanding of petroleum logistics and refining operations.

The individual is regarded as an expert in Middle Distillates physical trading and managing risk exposure, as well as a strong understanding of derivatives markets and products, including futures and OTC instruments to identify opportunities to optimize profit around CITGO's system.

This position will lead to critical negotiations on the spot, tenders and term contracts and will use expert negotiating skills to resolve commercial disputes. The ideal candidate must be capable of serving as a mentor to less experienced traders in the organization and independently develop unique market insights and views based on market fundamentals.

This position works closely with Compliance to ensure both CITGO and counterparties abide by all current trade restrictions and operate in compliance with all applicable laws and regulations. Also, works with Risk Control group to ensure trading within established risk and trading authorities.

Acts as lead to ensure inter and intra trading day market movements are properly evaluated, refineries economics are considered on the optimization process, tactics/strategies revised and executed according to opportunities and constraints present in the CITGO system. Key provider of advice to Management on critical commercial negotiations, contractual arrangements and positions in the medium term. Constantly hones market perspective and tests the rationale of desk traders on current positions and communicates broadly with refining and commercial on market trends. Advises on the implementation of major commercial deals across the company and technical solutions in the commercial organization. Serves as a Mentor, Trainer, Advisor, and Desk Head Back up in the commercial area.

Minimum Qualifications

• Bachelor's Degree.
• Degree in one of the following fields is preferred: Chemical Engineering, Economics, Business
• 10+ years of industry experience
• Middle Distillates Lead Trader has a good technical knowledge of clean products and refining operations, demonstrated experience in Middle Distillate commodities, able to make decisions and grasp concepts quickly, proven ability to produce positive results, has an eye for detail and strong leadership skills to positively influence others on the team
• Excellent record - in previous and current roles - of being strongly driven towards future success.
• Demonstrated leadership, positive influence, and teamwork behaviors.
• A self-starter with excellent communication skills and the ability to multi-task in a dynamic high-pressure diverse team environment.
• Demonstrated understanding and utilization of fundamental and technical market data to propose profitable trades and trading strategies and to manage company exposure.
• Demonstrated knowledge and experience in physical marketing, supply and/or trading, including inventory management, hedging, and position taking.
• Minimum years of job-related experience required: A Bachelor's degree and 10 years of experience or a Master's degree and 8 years of experience. If no degree, 14 years of experience in lieu of degree.

Job Duties

Develops and executes sound trading strategies in a fast-paced environment that result in increased profitability for the Middle Distillates Trading book:

• Trades in Middle Distillates physical and financial commodities in pursuit of system optimization and trading for profit to meet PnL targets.
• Uses derivatives, including futures and OTC instruments to manage risk and add incremental trading revenue.
• Exhibits and demonstrates strong operational excellence and discipline in managing trading positions.
• Coordinates logistical arrangements with logistics and refinery groups to ensure timely and cost-effective delivery of product shipments.

2. Develops a culture of excellence that identifies and purses entrepreneurial commercial opportunities. Engages with industry experts and maintains strong internal and external relationships. Provides visible leadership by working with and mentoring other team members in the development of regional and global trading strategies. Communicates clearly on trading strategies, transactions, and positions.

Develops new trading markets for distillate products and new business opportunities to increase existing deal flow.

Job Duties II

3. Develops new trading markets for distillate products and new business opportunities to increase existing deal flow

4. Negotiates spot & term contracts and ensures contract is performed in accordance with agreed terms.

Resolve commercial disputes through negotiating skills

5. Works with the CITGO refineries and CITGO Light Oils Marketing group in pursuit of system optimization and reliable competitive supply

Job duties displayed above are not all-inclusive, site-specific responsibilities may be assigned.

Here are the incentives we offer:

• Remote Work options available for eligible positions
• Options are department and/or location specific
• 9/80 Work Schedule Option (where applicable)
• Annual Vacation Incentive (40-120 hours of additional pay) for Eligible Employees
• Paid Vacation Time
• Company-Paid Holidays
• Caregiver Leave
• Excellent 401(k) Match
• Pension Plan
• Company-Paid Sick Leave and Long-Term Disability
• Medical, Dental, & Vision Plans; FSA and HSA options
• Company-Paid Life Insurance for Active Employees
• Healthy Rewards Program
• Service Awards Program
• Educational Assistance Plan
• Dependent Children Scholarships
• Reimbursement for Gym Membership
• Employee Discount Programs
• On-site Health Clinic (select locations)
• On-site Cafeteria (select locations)
• On-site Credit Union and ATM (Corporate office only)
• On-site Fitness Center (select locations)

PLEASE NOTE ALL JOBS DO NOT QUALIFY FOR ALL PERKS

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, or disability.

Requisition ID - 1360