Structurer

Job description

Segment

Integrated Supply & Trading
Role synopsis

The Trading Analytics team sits within the front office, and is responsible for providing a broad range of analytical insight that helps drive our energy commodities trading activity. Within Trading Analytics, the Structuring team is accountable for providing structuring support to Oil, European Gas & Power, Emissions, Global LNG businesses.

An opportunity is currently available for a Structurer to join the team and provide structuring advice to both oil and IG commercial teams.

Structurers are expected to be dynamic members of the deal teams: a) working actively with traders, originators and business functions in analysing and developing structures, b) developing and improving valuation and hedging models of energy assets and exotic structured transactions, c) structuring and evaluating deals by understanding and quantifying the embedded optionality, risks, and relevant value drivers, d) challenging and validating modelling approaches via back-testing and conducting research studies of price dynamics in the real vs. modelled world.

Req ID

78935BR
Location

United Kingdom - South East - London
Is this a part time position?

No
Relocation available

No
Travel required

Negligible travel
Key accountabilities

·  Work in collaboration with others to design and improve financial and derivative valuation models and techniques
·  Develop and maintain relationships across analytics disciplines and commercial teams
·  You will be committed to maintain knowledge of industry standard models and methods and calibrations, via internal and external relationships
·  You will communicate results to traders, origination and other analysts and actively influence the structure and management of proposed deals
·  Offer commercial insight into the valuation process, devising and advocating alternate deal structures to enhance value for the business
·  Assist mid and back office personnel in understanding of proposed deals and develop a collaborative relationship around the booking/modelling of live deals within the middle office and risk systems. Work with relevant parties to identify and quantify both market and non-market risks and assist proposing hedging and other mitigations if available
·  Support and coach others to develop their technical and commercial expertise

Essential Education

Degree level qualification in a highly numerate subject (e.g. mathematics/economics/physics/engineering or similar).
Desirable criteria and qualifications

·  Postgraduate qualification in a finance or quantitative area or CFA designation will be a plus
·  Desired experience in managing exposure and valuation of oil, natural gas and power physical assets, and structured transactions, such as pipelines, storage, power plants, and exotic options.
·  Knowledge and familiarity around common industry structures such as swings, storage contracts, tolls (both physical and virtual), transport contracts, oil indexed swaps and standard option structures
·  Deep knowledge in one or more of the following traded markets: European Gas and Power, Global LNG and Oil markets. This includes awareness of the implications of regulatory developments and the implications of capacity markets and carbon price floor would be an advantage
·  Deep understanding of both paper and physical markets: Futures, Forwards, exchange rules, OTC/Listed Derivatives, valuation methodologies / risk management techniques; Knowledge of physical market (Structure, inherent risk/operations)
·  Knowledge of the Oil and Gas industry : Upstream/Exploration value drivers, Refinery process and economics
·  Familiarity with of financing instruments/ Balance sheet structures / Asset valuations methodologies / Accounting principles, in general and particularly with respect to derivatives

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

14-Jun-2017
Sub-category

Front Office Analytics
Job category

Trading Analytics
Countries (State/Region)

United Kingdom - South East

Desired profile

Essential experience and job requirements

·  Deep commercial experience in commodity markets (e.g. Oil, European gas & power and global LNG) and deep understanding of the key elements of the value chain and key drivers setting commodity prices, spreads and non-linear product pricing
·  Deep understanding of sources of value in deals and the ability to translate business needs into specific solvable problems, being theoretically rigorous or pragmatic as the situation requires
·  Proficient in refining/developing tools/complex models
·  Significant practical experience of applying quantitative finance, option pricing theory and risk management techniques to the commodities business and structured transactions – able to lead on using and sharing best practice
·  Excellent communicator, able to succinctly explain/communicate to technical and non-technical audiences, and guide and influence commercial decision makers
·  Experience in managing partners with competing interests
·  Very good ability to identify potential opportunities and to act quickly and decisively
·  Able to develop and maintain collaborative relationships within the structuring team as well as across commercial and functional teams with different perspectives
·  High attention to detail to ensure robust and reliable analysis
·  Advanced Excel proficiency essential with VBA programming capability desirable
·  Deep understanding of models' strengths and limitations and practical application

Other Requirements (eg Travel, Location)

N/A