Job Reference Number:
LPG Risk Manager
Mid Office and Finance
This is a challenging role for an ambitious, commercially-minded professional, who is a team player and who has the potential to develop within a newly established and growing business. The role requires one to exercise initiative, demonstrate independence of thought and behavior and have the flexibility and competence to deal with a range of different issues.
To succeed you will need to be innovative in building new business processes, assisting in the introduction of any new systems/system enhancements and in producing robust, accurate and timely data to give management visibility of what is driving the business results.
This will involve working closely with Traders and Operators; understanding, challenging and reporting margins to management whilst ensuring that the market positions and reported PnL are in line with underlying business events.
A successful candidate will develop the commercial insight to partner the business.
DUTIES AND RESPONSIBILITIES
Risk and Product Control Responsibilities:
● Preparation of the daily PnL, position and exposure reporting including reconciliation, position generation and providing commentary for material PnL movements
● Ownership of valuation markers, including fair value process, ensuring appropriateness for mark to market valuation. Coordinate with Finance team to ensure trading valuations are in line with accounting standards
● Ensure compliance with the Group’s trading mandate, risk management policy and FX trading policy
● Ensuring a rationale is kept for all trades and position transfers between affiliated companies
● Maintaining an up-to-date Authorized Traders List with a signed ‘Front Office Agreement and Acknowledgment form from all members of Front Office
● Month-end reporting to finance to ensure that transactions reported in daily PnL reporting translate into the financial results
● Proactive approach to process improvements and problem identification, with resolution on a timely basis
● Daily reconciliation of paper positions and open trade equity to external clearing broker statements
● Validation of daily deal booking for both physical and financial trades
● Assisting Front Office and management with ad-hoc queries
● Champion for internal controls, particularly accuracy of data within deal capture systems throughout trade lifecycle
● Development of business process within ETRM system
● Documentation of all risk business process.
EDUCTION, EXPERIENCE, SKILLS:
Education and qualifications:
● Strong Academics (2:1 minimum in analytical degree)
● Minimum of 3 years’ experience in physical oil (light-ends) trading environment required
● Minimum of 3 years’ risk/product control or MO experience required
● Strong understanding of hedging and financial instruments
● Exposure to LPG preferable
● ETRM system experience preferable (Apsect knowledge is a bonus)
● Strong analytical skills
● Attention to detail
● Strong communication skills.
EDUCTION, EXPERIENCE, SKILLS:
● Prioritizes control or risk issues and communicates rapidly upwards
● Listens well, digests ideas and responds with constructive feedback
● A strong communicator who is clear and concise.
● Understand dynamics and support roles within a team
● Recognizes and acknowledges other team members’ contributions.
● Make things happen, with own or other’s ideas
● Proactive. Drives processes and keeps activity to timetable
● Independent and innovative.
Ownership & accountability:
● Takes ownership of own decisions and actions – successes and mistakes
● Able to maintain focus and drive in a challenging environment.
● Achieve consensus on change and then implement
● Will be a partner to the business.
Oil Recruitment is working as an agent on behalf of a client for this role. We have been working with some of the world's leading banks, trading companies, major oil companies and utilities within the energy trading arena since 1998. We work on roles in trading, broking, risk, credit, quantitative analysis, consultancy, shipping, chartering, operations and contract analysis across the upstream and downstream energy markets in crude, oil products, gas, power and carbon. All vacancies and information on our business are at www.oilrecruitment.co.uk
Oil Recruitment is acting as an Employment Agency in relation to this vacancy. The recruiter has stated that all applicants for this job should be able to prove they are legally entitled to work in the UK. www.oilrecruitment.co.uk