Commodity Risk Analyst (Product Control)

Job description

Segment

Integrated Supply & Trading
Role synopsis

Integrated Supply & Trading 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.

Commodity Risk in BP Integrated Supply and Trading (IST) is a key middle-office, financial controls function, accountable for ensuring that trading activities are conducted within a robust control framework. As a segment of IST Finance & Risk, the Commodity Risk organization 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. It is accountable for short term planning and for all middle office control and reporting activities. It also ensures consistency and monitors compliance in IST Policies and Procedures. Commodity Risk operates seamlessly with teams in the Finance & Risk function to support the business.

The role of Commodity Risk Analyst is a key control position within the Commodity Risk and Integrated Supply & Trading (IST) Finance & Risk organization, in the Global Oil Trading business. This role is accountable for providing deep business understanding and control through the delivery of value-added reporting and analysis. This role holds the primary interface into the trading front office for Crude trading activity, balancing independence with a business enabling partnership. This position requires a deep understanding of the activities within Commodity Risk in order to meet the team's core accountability of delivering independent daily exposures, P&L reporting and analysis.

Req ID

72832BR
Location

Singapore - Flexible - Singapore
Is this a part time position?

No
Relocation available

No
Travel required

No
Key accountabilities

·  Ensure adherence to all GEOD (Global End of Day) standards
·  Ensure market data integrity with reference to price series and forward curves, pricing calendars and expiry tables in the systems
·  Perform daily and monthly Curve validation process and analysis
·  Provide clear and concise; and coordinate validation and metrics reporting across regions to ensure consistent delivery
·  Provide automation and support to the wider Commodity Risk community and management alike by creating standardized reporting and analytics
·  Support New Activity Integration (NAI). Whenever needed, partner with both Front and Middle Offices; and Commodity Risk Analytics team to define new curves. Activities can include building, maintaining and/or validating forward curves for commodities that Global Oil transacts
·  Collaborate with RQA on optimizing and standardizing the use of models for either P&L calculation or for validation
·  Create and develop processes and procedures that enhance current Mark-to-Market (MTM) policy
·  Partner with IT to understand system interactions and functions to deliver time-sensitive MTM information
·  Deliver relevant and consistent feedback to Commodity Risk Analytics team in support of MVAR and MTM policy
·  Provide value-added support to the Front and Middle Office through data control and analysis
·  Ensure that data flows are reliable and consistent and constantly seek to improve data sources for greater quality, availability and timeliness
·  Review and strengthen where appropriate internal controls and processes
·  Compliance and control
Essential Education

·  Accounting/Business degree or formally recognised Accounting qualification (ACA, ACCA, CIMA)
·  Attention to detail, ability to work with detailed transactions and accurately control, report and communicate trading activity
·  Ability to perform in a deadline orientated environment
·  Strong analytical and quantitative skills
Desirable criteria and qualifications

Understanding Trading
·  Demonstrates a working knowledge of the concept of mark-to-market and is able to articulate market/price volatility in terms of its effect on cash flow and working capital.
·  Readily calculates exposure based on new, existing or proposed trading positions. Understanding Energy Industry
·  Demonstrates knowledge of basic transactions within the industry and interpret and explain supply/demand drivers.
·  Understands the effects of changes in supply/demand drivers.
·  Demonstrates basic understanding of key energy trading strategies (hedge funds, integrated oil companies, investments banks). Market Risk
·  Understands the principles of financial risk management.
·  Able to understand and interpret the relevant data (exposures, prices, volatilities, correlations) used by the Market Risk Function. Credit Risk
·  Understands the construction of a public company's financial statement and knows how to calculate traditional financial ratios.
·  Knowledge of a counterparty's country of incorporation and registration and awareness of possible credit ramifications. Operational Risk
·  Able to understand and interpret operational risk data; identifies critical data for businesses and functions; highlights data most relevant to business drivers. Internal Control & Assurance

·  Able to handle deviations and exceptions and knows when to escalate any significant control breakdown and/or any incipient or improper accounting.
·  Understands how controls operate to improve performance and prevent loss.
·  Able to recognise business changes that require documentation. Compliance
·  Understands the specific requirements and transaction controls within their own business area and operates successfully within these.
·  Is able to identify points of potential compliance and assurance breakdown and assists in the creation of ways to mitigate them.
·  Understands how these requirements affect business performance and prevent loss for BP. Understanding Financial Accounts
·  Understands how accounting data are wired together to form a set of accounts.
·  Able to build a bridge from profit to cash flow.
·  Familiar with the main accounting ratios: return on capital employed, return on equity, return on sales, asset turnover. Communicating & Advising
·  Actively listens and responds to the concerns of others.
·  Conveys ideas in a clear, concise manner. Leading Change
·  Understands the key concepts of change and project management tools.
·  Able, with support, to document how benefits are delivered, measured and reported
About BP

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.

Application close date

08-Nov-2016
Sub-category

Financial & Process Control
Job category

Finance
Countries (State/Region)

Singapore

Desired profile

Essential experience and job requirements

·  IT (systems) skills (SAP, Business Objects, Excel & Access)
·  Strong proficiency in MS Excel
·  Strong interpersonal and communication skills
Other Requirements (eg Travel, Location)

N/A