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The Finance and Risk Team is currently seeking a Power Risk Analytics Analyst to focus on the Structured Power business in the European Gas and Power portfolio (EG&P). The position reports to the Commodity Risk Manager for European Gas and Power based in London. You will work closely with the Commodity Risk Team/Analytics Network as well as with other functions within significant regional businesses. You will also liaise with the rest of the regional businesses and IST at large.
This role is accountable for providing deep understanding of the business through informed risk analysis, monitoring, reporting and management of trading activities. This includes P&L explanation, VaR calculation, stress and scenario testing, deal and portfolio performance analysis, preparing data for risk committees, and numerous ad hoc requests.
Your main role will be to assist the Commodity Risk Manager for EG&P drive the growth of the business through improvement in market risk measurement and control within EG&P. You 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 his/her main focus. More specifically, you will be responsible for:
- Providing regular analysis and review of the risk/reward in Front Office trading strategies, as well as demonstrating a deep understanding of the characteristics of the power markets in which EG&P participates - Interpreting and explaining the market risk numbers produced by the risk models when required ("second level analysis") - Support the broader Commodity Risk team to ensure adequate coverage and support for significant activities - Developing and deploying ad hoc models for the identification, measurement, and reporting of risk for new transactions - Improving existing models and methods for assessing the risk in the EG&P portfolio - Working with central IT&S teams to develop and deploy equitable models and systems for strategic business growth support - Ensuring that risk models and methodologies used are in line with IST policy requirements. This would include for example the setting of requirements on stress-testing, etc.
A University degree in a relevant discipline or equivalent is a requirement. Advanced degree in mathematics, science, engineering, etc. is advantageous. Professional qualification in risk management (i.e. FRM, ERP, or PRM), financial analysis (i.e. CFA), business or operations research is desirable.
Essential experience and job requirements:
- Strong analytical skills including the ability to understand and communicate complex transactions with embedded optionality as well as the ability to assess the market risk impact of those transactions on an existing portfolio - Strong numeracy and financial engineering skills. This should include not only Excel/VBA but also preferably Python skills and a shown ability to develop valuation and risk models for a wide range of derivatives - You will have had prior exposure to basic principles of market risk measurement and control. He/she will have an understanding of the alternative methods available to calculate value-at-risk, define appropriate risk factors, account for non-linear instruments, etc. - Familiarity with the practical difficulties/limitations of MVaR and other risk measures (volumetric limits, Greeks, etc) either through working in the middle office or a front office role - Exceptional grasp of the fundamentals of energy trading, including extensive familiarity with physical power markets, derivatives and other trading instruments - Ability to deploy different communication styles according to the situation and communicate effectively with partners and peers - Attention to detail and ability to work within a very deadline orientated environment
Desirable criteria and qualifications:
- Relevant understanding of European natural gas market drivers and physical assets (e.g. storage capacity) - Previous experience preferably in Gas Europe or LNG Product Control, Market Risk, or Trading roles - Professional qualifications in financial analysis, risk management, accounting, or equivalent areas - The team are looking for someone who is very articulate and able to communicate complex issues to non-specialists in a concise and clear manner - You will use your credibility and professionalism to convince people you liaise with, to obtain the required support. - You will demonstrate a strong focus on delivering solutions in a timely and effective manner with minimum mentorship or supervision - You will exercise judgment and make sound decisions when faced with incomplete data with varying degrees of risk - You will know how to effectively and expertly handle a variety of tasks, set priorities for himself/herself and measure and anticipate problems in order to accomplish specific priorities, goals and results
Our business is the exploration, production, refining, trading and distribution of energy. This is what we do, and we do it on a truly global scale. BP operates with business activities and customers in more than 80 countries across six continents. Every day, we serve millions of customers around the world. We are continually looking for talented, committed and ambitious people to help us shape the face of energy for the future.
Integrated Supply & Trading (IST) is BP's face to the traded markets for BP in oil, gas, power, chemicals and finance. IST's role is to enhance Group value through distinctive supply, commodity trading, risk management and information technology skills underpinned by a world class finance, control and compliance infrastructure. IST has a dynamic and highly skilled workforce, which creates value by combining analysis and commercial innovation with the material asset base of BP.
IST Finance operates in support of IST's strategic objectives, helping it to achieve its aim of being the world's pre-eminent energy trader, in a controlled and compliant way. IST Finance is an integral function within BP's global oil and gas trading and supply activities. It is accountable for short term planning and for all financial and middle office control and reporting activities. It also ensures consistency and monitors compliance in processes and Operating Standards. IST Finance operates around 3 Global processes: Accounting & Reporting, Trade Completion and Product Control and operates seamlessly with the Risk function to support the business.
IST fosters a diverse and inclusive workplace for all employees. We are proud of our stance on fairness, equal opportunity and meritocracy, which focuses on all of our employees reaching their full potential.