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Commodity Risk Analyst

Posted: 8 Nov 2019 Closes: 7 Jan 2020
City of London, London Competitive
Fixed term & Full time 110604BR_1573234570

We are a global energy business involved in every aspect of the energy system. We have 75,000 employees in 80 countries, working towards delivering light, heat and mobility to millions of people, every day.


Role Synopsis:

This role sits within the EG&P Commodity Risk team within BP's supply and trading business and is a key control position within the Commodity Risk and Integrated Supply & Trading Finance organisation. This role is accountable for: Development and maintenance of robust risk measurement and valuation models;

  1. analysis of market conditions and trading positions; and
  2. interpretation and improvement of risk and control policies and procedures

This role holds a primary interface into the trading front office for a specific set of trading activity, balancing independence with a business enabling partnership. This position requires an understanding of analytics and model development in order to meet the team's core accountability of delivering independent analysis and reporting.

Responsibilities:

The candidate's main role will be to assist the Market Risk Analytics Lead and Commodity Risk Manager for EG&P in driving the growth of the business through improvement in market risk measurement and control within EG&P. They may also be asked to provide ad-hoc assistance with risk management issues relating to the overall IST portfolio, but this is not expected to be their main focus. More specifically, the candidate will be responsible, under the supervision of the EG&P Market Risk Analytics Lead, for:

  • Running the daily Value at Risk (VaR) and Stress Testing processes, resolving any discrepancies and escalating breaches/ near breaches as required
  • Improving existing models and methods for assessing the risk in the EG&P portfolio
  • Working with central IT&S (IT & Systems) teams to develop and deploy sustainable models and systems for strategic support of the business growth
  • Support the broader Commodity Risk team to ensure adequate coverage and support for relevant activities.
  • Helping Commodity Risk teams interpret and explain the market risk numbers produced by the risk models when required ("second level analysis")
  • Demonstrate an understanding of the characteristics of the markets in which EG&P participates and circulate relevant market information to the wider team
  • Ensuring that adequate market risk discipline and control prevails in EG&P
  • Ensuring that risk models and methodologies used within EG&P are in line with IST policy requirements.

Essential Experience:

  • Strong analytical skills including the ability to understand both linear and non-linear price exposure
  • Strong numeracy and basic financial engineering skills (Excel/VBA/Python)
  • Familiarity with the basic principles of market risk measurement and control
  • Grounding in financial theory (such as Efficient Market Hypothesis, Interest Rate Parity theory, Black-Sholes Option Pricing)
  • Ability to deploy a variety of communication styles according to the situation and communicate effectively with stakeholders and peers
  • Attention to detail and ability to work within a very deadline orientated environment

Essential Education:

A University degree in a relevant discipline is a requirement. Advanced degree in mathematics, science, engineering, etc. is highly desirable. Professional qualification in risk management (i.e. FRM, ERP, or PRM), financial analysis (i.e. CFA), business or operations research is also desirable.





The role is part of the European Gas & Power Commodity Risk team within BP's supply and trading business and is a key control position within the Commodity Risk and Integrated Supply & Trading Finance organisation. The role is accountable for: (i) development and maintenance of robust risk measurement and valuation models; (ii) analysis of market conditions and trading positions; and (iii) interpretation and improvement of risk and control policies and proceduresThe role holds a primary interface into the trading front office for a specific set of trading activity, balancing independence with a business enabling partnership. The position requires an understanding of analytics and model development in order to meet the team's core accountability of delivering independent analysis and reporting.

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BP

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