Lead Commodity Risk - Houston, United States - bp

Verified Company

Houston, United States

3 weeks ago

Posted by:

Mark Lane

beBee recruiter

Description

Job summary

Entity:

Finance

Job Family Group:

Finance Group

About us

Our purpose is to bring together people, energy and markets to power and navigate a changing world.

In a time of constant change and possibility we need new talent to pursue commercial opportunities, fueled by world-class insight and expertise.

We're always striving for more innovative digital solutions, sustainable outcomes and closer collaboration across our company and beyond, and you could be part of that too.

Together we continue to grow as the world's leading energy trader

Would you like to discover how our diverse, hardworking people are leading the way in making energy cleaner and better - and how you can play your part in our world-class team?

Join our Trading and Shipping Team and advance your career as a Commodity Risk Lead.

Role Synopsis
Trading & Shipping (T&S) is bp's face to the traded markets.

T&S's role is to enhance bp Group value through distinctive supply, commodity trading, risk management and information technology skills underpinned by a world class finance, control, compliance, risk analytics and management infrastructure.

The Commodity Risk Group is a key middle-office, risk, and financial controls function accountable for ensuring that trading and origination activities are conducted within a robust control framework.

The NGL Commodity Risk Lead plays a key role interfacing with trading, marketing & origination, operations, structuring, and support functions for the Natural Gas Liquids (NGL) trading and marketing benches.

It requires balancing independence with a business enabling partnership.

This position is accountable for delivering daily exposure, P&L reporting, month end close process and providing analytics to support business insight, including VaR, stress testing, working capital forecasting and cash forecasting while enforcing the T&S Operating Standards & Control Processes.

The position reports to the Senior Manager of Commodity Risk.

Key Accountabilities

Develop a deep understanding of NGL commercial businesses.
Lead the NGL Commodity Risk team of two commodity risk analysts.
Establish strong relationships with commercial and functional teams in Houston, Chicago and Budapest.
Deliver insightful reporting and analytics that enable business decision making and commercial growth of the portfolio. This is achieved through timely, rigorous, and accurate reporting and analytics of exposure, market risk, costs, gross margin, cash and working capital.
Facilitate and oversee effective and consistent compliance and controls, both internally and externally, while ensuring financial integrity for T&S. Facilitate discussions with both internal and external auditors.
Liaise with front office, settlements, and accounting to resolve any discrepancies on counterparty, pricing, volume and Mark to Market (MTM) value, accrual, and gross margin
Bringing transparency to deal structures and explain financial impacts in operational terms to Senior Manager of Commodity Risk and other members of the leadership team.
Maintain and review MTM, exposure and P&L by deal, portfolio, trader, region, and strategy
Lead due diligence discussions with Commercial and Finance leaders
Lead month end close process and support accounting in month end closings
Support regional and global process standardization initiatives
Support any ad hoc reporting requirements
Liaise with IT to lead and manage process improvement/simplification initiatives.
Essential Education and Experience
Bachelor's Degree or equivalent experience in Finance, Accounting, Economics, or Quantitative field.
At least 10 years of experience in a physical and financial commodity trading environment with a bias towards NGLs, oil and/or oil products
Experience with complex structured physical and financial transactions
Team player and eager to learn and teach in partnership with other team members within the team and across other trading benches.
Able to grasp and communicate complex transactions for nontechnical audience, while highlighting the key economic effects & associated operational and market risks.
Selfmotivated with the intellectual ability and curiosity to read, interpret, and maintain current knowledge of relevant trading and market fundamentals.
Ability to multitask independently in a dynamic and changing business environment, within a global structure and under tight deadlines.
Champion change through visible and active commitment to drive the change process, while able to articulate the vision for change and engage with stakeholders to build alignment.
Strong interpersonal and communication skills (verbal and written).Desirable criteria and qualifications
Solid knowledge and understanding of energy trading markets and instruments
Experience in Product Control/Middle Office
MBA or other financial certification including CFA, FRM, CPA.
IT skills (Energy Trading/Risk Management systems
Solarc Rig