Commodity Risk Lead Power

at  BP

JOB DESCRIPTION:

The role of Commodity Risk Lead is a key analytical and control position within the Commodity Risk function under Finance & Risk that sits within the Trading & Shipping (T&S) business; in the Global Gas and Power business. This role is accountable for providing deep business understanding and control through the delivery of valuable reporting and analysis. This role holds the primary interface into the trading front office, balancing independence with a business enabling partnership.

REQUIREMENTS

Bachelors Degree (any discipline) or equivalent
Experience in Market Risk management and/or Power markets in the trading industry
Validated understanding of options valuation and risk management
Strong understanding of key controls used to mitigate risks
Strong analytical skills with ability to grasp and communicate sophisticated trading transactions into their economic effects Ability to deploy a variety of communication styles according to the situation and communicate optimally with partners and peers
Strong desire to develop leadership capability and team player with an eagerness to learn and teach
Supporting the development of the broader team across Commodity Risk
Good to have: Experience of New Activity Integration and Project Management

Responsible for independent, timely, globally aligned and accurate valuations of trading book position, exposure and performance data via operational oversight of day to day accountabilities of the team.
Lead the delivery of daily and monthly control processes
Support the validation of integrity of management information provided to Financial Accounts for the Group Accounts and financial disclosures.
Independent understanding to identify/call out and mitigate financial, operational &reputation risk related to trading book positions and exposures.
Single point of contact on any working capital related issues.
Forecasting, allocation and optimization of working capital to ensure book remains within limits while embedding rigour and challenge.
Provide support for entering/exiting new instruments/markets & growth/contraction of existing business via effective due diligence.
This includes deal valuation, consideration of working capital and cash impacts, and identifying/ mitigating financial or operational risks associated with new activity.
Evaluate and conduct a risk assessment of new investment and business initiatives proposed by the front office.
Provide an independent opinion on the risk and reward of the new activities and propose recommendations on risk mitigation strategies.
Lead initiatives, influence and participates in decisions and collaborate effectively across both regional and global teams.
Develop and demonstrate a deep understanding of Global Gas and Power supply and trading business, exposures, strategies and market fundamentals.
Provide constructive challenge to trading activity to ensure it is compliant and aligned to intended trading strategy.
Interpreting existing T&S commodity risk policies, particularly the Market Risk Operating Standard and Delegation of Authority policies, and ensuring their accurate application in GPTI as well as providing inputs into the definition of new policies and procedures.
Run and coordinate risk models and production of market risk analytics (including MVaR, Stress Test, Liquidity Test, Concentration Risk, sensitivities and scenario analysis, backtesting) and flag potential material risk to Front Office and senior management to support risk mitigation and decision making.
This includes conducting regular review of the trading books to ensure that the market risks are appropriately quantified and controlled and make recommendations on possible methodology changes and risk controls.
Drive continuous improvements through change in ways of working, digitalization and automation projects.