Commodity Risk Manager

Commodity Risk is a key strategic control position within the bp's Supply Trading and Shipping (ST&S) organization. The role holder serves as the primary interface for trading and supply benches, while managing the daily activities that meet the team’s core responsibility of delivering independent daily exposure and P&L, and provides analytics to support business insight, including working capital and cash.

Key Accountabilities

• Responsible for the creation and delivery of high-quality, insightful, valuable, and automated management information.
• Responsible for bringing transparency to deal structures and explaining financial impacts in operational terms.
• Independent understanding of trading strategies to identify/raise and mitigate financial, operational & reputational risk related to new or existing activities.
• Ensure timely validation of new business to ensure that new business deals are accurately represented in the system.
• Validation and analysis of prices and curves and resolve any issue with bench analyst on a timely basis.
• Ensure market data integrity with reference to price series and forward curves, pricing calendars and expiry tables in the systems
• Ensure accurate delivery of independent exchange-related activities, analysis of exchange trades with a lens of risks involved and accurate forecast of cash required for exchange trading
• Collaborate closely with finance, risk, and front office teams to resolve any discrepancies on counterparty, pricing, volume and MTM intent.
• Validate deal level MTM, exposure and P&L.
• Accurately validate, monitor, and manage ancillaries and related P&L daily including troubleshooting and resolving any related issues.
• Actively engage with global teams, ensuring proper handoffs between regions.
• Support regional and global process standardization initiatives.
• Liaise with finance, risk, and front office teams to resolve any discrepancies on counterparty, pricing, volume and MTM intent.
• Ensure appropriate application of ST&S Commodity Risk Policy. In particular, the person will have responsibility for the application of ST&S’s Market Risk, Commodity Risk and Delegation of Authority Policy.
• Support any ad hoc reporting requirements
• Lead a small team of analysts and provide day-to-day support and guidance
• Help drive process and operational transformation while maintaining a strong focus on control