Model Validation Quantitative Analyst - Global Valuation Control

Job description

Segment

Integrated Supply & Trading
Role synopsis

BP's Integrated Supply & Trading (IST) is a global organisation that brings together a world-class trading team comprising the trading activities of BP in the Oil, Gas, Power, Finance and LNG markets. IST creates value through its people using their skills, knowledge and expertise to optimise the dynamic and material asset base of BP. It is a global business with key locations in Europe, North America, Middle East & Africa, and Asia & Australasia.

Models play an important role in IST and cover a wide range of uses – from pricing and P&L purposes, through to risk management and commercial decision support. The Global Valuation Control (GVC) team sits within Commodity Risk, IST Finance & Risk, and is focused on Valuation and Model Validation independent assurance activities. Our validation activities range from core valuation models used for instrument & derivative pricing, to validation of models used in the derivation of price/parameter input curves and transaction mappings. The strategic purpose of GVC is to bring together in a coherent way the controls and teams involved in the valuation of IST's portfolio; to drive compliance with policies and procedures, and to further develop the governance framework to identify and mitigate valuation risks to the balance sheet. The teams operations span Singapore, London, Chicago and Houston, covering IST's global Gas and Oil trading activities.

The role involves the development of reference valuation models to support model validations, and statistical/time-series data analysis and model parameter estimation, and offers the opportunity for regular interaction with Risk teams, Traders, and Front Office Quants at all levels and across all regions of IST.

This position offers an excellent opportunity to make a significant contribution to IST's management of model risk; develop in-depth econometric/quantitative expertise by analysing and critiquing models for the valuation of a wide array of transactions; and gain knowledge of trading strategies followed by IST in oil, gas, power and financial markets.
Req ID

70681BR
Location

London
Is this a part time position?

No
Relocation available

No
Travel required

Negligible travel
Key accountabilities

·  Perform efficient and effective validation of internal and third-party models & processes, ensuring that this activity is executed in line with IST's Model Assurance policy.
·  Form partnerships with other parts of the business to leverage GVC's quantitative, econometric, validation and operational expertise for commercial advantage and enhanced control.
·  Provide technical advice and expertise to commercial and control functions on the representation, valuation and risk measurement of deals involving optionality and/or illiquid assets.
·  Work closely with model users & developers to support and guide best practice for the mitigation of model risk and the establishment of model standards within IST.
·  Ensure compliance with and monitoring of applicable Group & IST Policies & Procedures.
·  Support delivery of transformation projects in the areas of continuous improvement of processes, policy simplification, evolution of controls/analysis, and commercial partnership.
Essential Education

An advanced university degree in Econometrics or Quantitative Finance or equivalent
Desirable criteria and qualifications

Professional qualifications in Finance, Risk Management or Computing.

Model Validation experience gained in a trading environment.

Working knowledge of the energy markets, with deep technical knowledge of at least one of energy commodity (oil, gas, power, etc.).

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.

The IST Risk organization is an integral function within BP's global oil and gas trading and supply activities. IST Risk is comprised of teams with expertise in Credit Risk, Market Risk, Operational Risk and Risk Quantitative Analysis. All the Risk teams provide both independent oversight of our trading activities as well as support the business in various commercial decision making capacities. The teams ensure IST is operating within approved limits, advise management of areas for review as well as provide pre trade support and risk analysis.

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

07-Aug-2016
Sub-category

Trading Risk
Job category

Finance
Countries (State/Region)

United Kingdom - South East
Disclaimer

If you are selected for a position in the United States, your employment will be contingent upon submission to and successful completion of a post-offer/pre-placement drug test (and alcohol screening/medical examination if required by the role) as well as pre-placement verification of the information and qualifications provided during the selection process. The drug screen requires a hair test for which BP must be able to obtain a sufficient hair sample for analysis (~4 cm/1 ½” scalp, or > 2 cm/¾” body – arms & armpits/legs/chest).

BP is an equal employment opportunity and affirmative action employer. View ourpolicy statement .

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability or veteran status.

If you are a US-based applicant or you are applying to a position in the US and you are an individual with disability or a disabled veteran, and would like any type of assistance to apply or to access or to attend any recruitment or selection event, system or process, we would like to help you to ensure that your application process goes as smoothly as possible. If you need assistance, information, or answers to your questions, feel free to contact us or have any of your representatives contact us at BP US Application ************@*******.** ,Telephone: 281.366.1999.

Read theEqual Employment Opportunity is the Law poster for more information about Equal Employment Opportunities. (Spanish version )

An equal opportunity employer/disability/vet.

Desired profile

Essential experience and job requirements

·  Experience of financial modelling, MTM valuation concepts, fundamentals of trading including familiarity with derivatives and other trading instruments.
·  Thorough understanding of option pricing theory and financial engineering, application to real world valuation problems
·  Strong data-analytic, mathematical and statistical/econometric skills.
·  Demonstrable expertise in use of Python/C++ or similar languages.
·  Strong analytical skills, proven ability to address and solve problems in a systematic and logical manner.
·  Familiarity with the general principles of risk measurement and management.
·  Strong communication skills, with ability to articulate complex issues clearly and succinctly to a range of audiences
·  Ability to work autonomously, plan carefully and make well-informed decisions with incomplete data
·  Strong interpersonal and influencing skills, coupled with business acumen and sound commercial judgement to build credible relationships across IST
·  Effectively and efficiently handle a variety of tasks, set priorities, measure and anticipate problems in order to accomplish specific priorities, goals and results.
Other Requirements (eg Travel, Location)

N/A
Eligibility Requirements

If you are applying for a position in the United States, you must be at least 18 years of age, legally authorized to work in the United States; and not require sponsorship for employment visa status (e.g., TN, H1B status), now or in the future.