Market Risk Analyst I

Phillips 66; Houston (TX); On-site; USD 96,000 - 118,000; Full time

Benefits offered by this job

Annual VCIP bonus

8% 401k company match

Health benefits

Job summary

Phillips 66 in the United States is seeking a Market Risk Analyst I (Advisor I, Product Control) to execute daily and monthly product control activities with growing independence and strengthen the quality, accuracy, and transparency of P&L and risk reporting.

This role requires investigation of variances, collaboration with Front Office, Risk and Operations, and advancing knowledge of commodity valuation and control processes.

Qualifications

• Legally authorized to work in the United States.
• Bachelor’s degree in Finance, Accounting, Economics, Engineering, Math, or a related field.
• 2+ years of experience in product control, middle office, finance, or accounting.
• Intermediate understanding of commodity valuation concepts (basis, location spreads, storage).

Responsibilities

• Prepare timely and accurate exposure and profit and loss reporting with increased independence and accountability.
• Perform daily and monthly product control activities, including P&L explained, value at risk, and drawdown analysis, and investigate material variances.
• Partner with Front Office, Operations, and Risk to track, investigate, and resolve issues affecting trade capture, valuation, or reporting accuracy.
• Support month-end close and mark-to-market to GAAP processes and help ensure accurate reporting outcomes.
• Continue professional development while building broader commercial and systems knowledge.
• Contribute to small process improvements that increase efficiency, control effectiveness, or reporting clarity.

Skills

Commodity valuation concepts

Education

Bachelor’s degree in Finance, Accounting, Economics, Engineering, Math, or a related field

Tools

Openlink

Endur

Allegro

SAP

Excel

Power BI

SQL

Python

Job description

Phillips 66 & YOU - Together we can fuel the future

As the Market Risk Analyst I (Advisor I, Product Control), you’ll execute daily and monthly product control activities with greater independence while strengthening the quality, accuracy, and transparency of P&L and risk reporting. This role is best suited for someone who can work independently on routine deliverables, investigate variances with sound judgment, and collaborate effectively across Front Office, Risk, and Operations. You’ll apply a growing understanding of commodity valuation, trade lifecycle activity, and control processes to resolve issues, recommend improvements, and elevate complex exceptions appropriately.

What You’ll Do

• Prepare timely and accurate exposure and profit and loss reporting with increased independence and accountability.
• Perform daily and monthly product control activities, including P&L explained, value at risk, and drawdown analysis, and investigate material variances.
• Partner with Front Office, Operations, and Risk to track, investigate, and resolve issues affecting trade capture, valuation, or reporting accuracy.
• Support month-end close and mark-to-market to GAAP processes and help ensure accurate reporting outcomes.
• Continue professional development while building broader commercial and systems knowledge.
• Contribute to small process improvements that increase efficiency, control effectiveness, or reporting clarity.

What You’ll Bring – Required

• Legally authorized to work in the United States.
• Bachelor’s degree in Finance, Accounting, Economics, Engineering, Math, or a related field.
• 2 or more years of experience in product control, middle office, finance, or accounting or related field.
• Intermediate proficiency and understanding of commodity valuation concepts such as basis, location spreads, and storage.

What Makes You Stand Out – Preferred

• Strong attention to detail, strong communication skills, and comfort challenging data variances and anomalies while operating independently on routine tasks.
• Experience with ETRM platforms such as Openlink, Endur, Allegro, or SAP.
• Strong Excel skills and working knowledge of ETRM systems and trade lifecycle activity.
• Basic to intermediate SQL, VBA, or Python skills for modeling and reporting.
• Experience with Power BI or similar visualization tools.
• Professional certifications such as FRM or CFA.
• Strong attention to detail, strong communication skills, and comfort challenging data variances and anomalies while operating independently on routine tasks.

Compensation Range

This position has a base salary range of $96,300 – $117,700.

At Phillips 66, we are committed to pay transparency and competitive, equitable compensation. Each role is assigned a salary grade with a defined pay range, benchmarked against industry peers. Where a candidate offer falls within the posted range depends on the candidate's experience, skills, and alignment with the role’s requirements. Offers are made to ensure internal equity and market competitiveness. Our compensation programs are designed to reward performance and support career growth.

Total Rewards

Benefits for certain eligible, full-time employees include:

• Annual Variable Cash Incentive Program (VCIP) bonus
• 8% 401k company match
• Cash Balance Account pension
• Medical, Dental, and Vision benefits with an annual company contribution to a Health Savings Account for employees on HDHP
• Total well-being programs and incentives, including Employee Assistance Plan, well-being reimbursement, and backup family care services

Learn more about Phillips 66 Total Rewards.

Phillips 66 has more than 140 years of experience in providing the energy that enables people to dream bigger and go farther, faster. We are committed to improving lives, and that is our promise to our employees and our communities. We are sustained by the backgrounds and experiences of our diverse teams, which reflect who we are, the environment we create and how we work together. We have been recognized by the Human Rights Campaign, U.S. Department of Labor and the Military Times for our continued commitment to inclusive practices and policies in the hiring and retention of those in the LGBTQ+ community and military veterans. Our company is built on values of safety, honor and commitment. We call our cultural mindset Our Energy in Action, which we define through four simple, intuitive behaviors: We work for the greater good, cultivate an environment of trust, seek different perspectives and pursue excellence.

Learn more about Phillips 66 and how we are working to meet the world's energy needs today and tomorrow, by visiting phillips66.com.

Phillips 66 is an Equal Opportunity Employer