Lead Commodity Risk (NGL) at BP Energy
Houston, TX 77079
About the Job
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Finance
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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
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 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 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 Right Angle, Endur, etc, Advanced MS Excel, programming languages like Python, tools like Power BI)
Strong technology capabilities including data visualization (Power BI/Tableau), data management (SQL/PLSQL) and understanding of programming languages (VBA, python) is preferred.
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 accommodations.
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Legal Disclaimer:
We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, sex, gender, gender expression, sexual orientation, age, marital status, socioeconomic status, neurodiversity/neurocognitive functioning, veteran status or disability status. Individuals with an accessibility need may request an adjustment/accommodation related to bp’s recruiting process (e.g., accessing the job application, completing required assessments, participating in telephone screenings or interviews, etc.). If you would like to request an adjustment/accommodation related to the recruitment process, please contact us.
If you are selected for a position and depending upon your role, your employment may be contingent upon adherence to local policy. This may include pre-placement drug screening, medical review of physical fitness for the role, and background checks.
