Commodity Risk Lead - Natural Gas Liquids (NGLs)

BP Plc.
Houston, USA
dependent upon experience and qualifications
Aug 28, 2021
Sep 27, 2021
Job Function
Industry Sector
Finance - General
Employment Type
Full Time
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 Commodity Risk Lead will play a key role interfacing with trading, marketing & origination, operations, structuring, and support functions for the Natural Gas Liquids (NGL) bench. 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 understanding of NGL commercial businesses.
  • Establish strong relationships with commercial and functional teams in Houston and Chicago.
  • 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 job requirements
  • Bachelor's Degree in Finance, Accounting, Economics, or other quantitative field
  • Experience in a physical and financial commodity trading environment with a bias towards NGLs, oil and/or oil products (preferably 8+ years)
  • Experience with complex structured physical and financial transactions
  • Understanding of front to end transaction lifecycle, key operational and financial controls, applications employed and ability to assess change impact across functions
  • 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 in layman terms for non-technical audience, while highlighting the key economic effects & associated operational and market risks
  • Self-motivated with the intellectual ability and curiosity to read, interpret, and maintain current knowledge of relevant trading and market fundamentals
  • Ability to multi-task 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 qualifications
  • MBA or other financial certification including CFA, FRM, CPA.
  • Experience in Product Control/Middle Office
  • IT skills (Energy Trading/Risk Management systems - Solarc Right Angle, Advanced MS Excel, programming languages like Python, tools like Power BI)
  • Solid knowledge and understanding of energy trading markets and instruments

Why join us
At bp, we support our people to learn and grow in a diverse and challenging environment. We believe that our team is strengthened by diversity. We are committed to fostering an inclusive environment in which everyone is respected and treated fairly.

There are many aspects of our employees' lives that are meaningful, so we offer benefits to enable your work to fit with your life. These benefits can include flexible working options, a generous paid parental leave policy, and excellent retirement benefits, among others!

We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment. Please contact us to request accommodation.