Lead Commodity Risk - Power

Job summary

Entity:

Finance

Job Family Group:

Finance Group

Job Description:

Our purpose is to bring together people, energy and markets to power and navigate a changing world. In a time of constant change and possibility we need new talent to pursue commercial opportunities, fueled by world-class insight and expertise.

We have an exciting opportunity to join our Trading & Shipping Team in Houston as a Lead on our Commodity Risk Power team!  In this new position you will report directly to the Power Commodity Risk Senior Manager and have the opportunity to work alongside some of the brightest people in the industry.

We’re always striving for more innovative digital solutions, sustainable outcomes and closer collaboration across our company and beyond, and you could be part of that too.  Come join our team as we grow to become the world’s leading energy trader!

About the Trading & Shipping team

Trading & Shipping (T&S) is bp's face to the traded markets. T&S'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, compliance, risk analytics and management infrastructure.

The Commodity Risk Group is a key middle-office, risk, and financial controls function accountable for ensuring that trading and origination activities are conducted within a robust control framework. The Commodity Risk Lead will play a key role working with trading, marketing & origination, scheduling, structuring, and support functions for the Power bench. It requires balancing independence with a business enabling partnership. This position is accountable for delivering/overseeing market risk insight and analysis, P&L reporting, month end close process and providing analytics to support business insight, including working capital and cash while enforcing the T&S Operating Standards & Control Processes.

What you will do

• Continue developing understanding of Power commercial businesses.
• Establish strong relationships with commercial and functional teams.
• Deliver insightful reporting and analytics that enable business decision making. This is achieved through timely, rigorous, and accurate reporting and analytics of exposure, market risk, costs, gross margin, cash and working capital.
• Facilitate and oversee effective and consistent compliance and controls, both internally and externally, while ensuring financial integrity for T&S. Facilitate discussions with both internal and external auditors.
• Liaise with front office, settlements, and accounting to resolve any discrepancies on counterparty, pricing, volume and Mark to Market (MTM) value, accrual, and gross margin.
• Bring transparency to deal structures and explain financial impacts in operational terms to Commodity Risk Lead, Senior Manager of Commodity Risk and other members of the leadership team.
• Maintain and review MTM, exposure and P&L by deal, portfolio, trader, region, and strategy.
• Prepare presentations and participate in discussions with Commercial and Finance leaders.
• Key member of the month-end close process and support accounting in month end closings.
• Support regional and global process standardization initiatives.
• Support any ad hoc reporting requirements.
• Liaise with IT to lead and manage process improvements.

What we require

• Bachelor’s degree in finance, accounting, economics, or equivalent related fields
• 5+ years experience working in a commodity trading environment with a bias toward Power and natural gas.
• Experience with complex structured physical and financial transactions, including Heat Rate Call Options (HRCOs), revenue puts, load, tolls, retail.
• Understanding of front to end transaction lifecycle, key operational and financial controls, applications employed and ability to assess impact across functions.
• Team player and eager to learn and teach in partnership with other team members within the team and across other trading benches.
• Able to grasp and communicate complex transactions in everyday terms for non-technical audience, while highlighting the key economic effects & associated operational and market risks.
• Self-motivated with the intellectual ability and curiosity to read, interpret, and maintain current knowledge of relevant trading and market fundamentals.
• Ability to multi-task independently in a dynamic and changing business environment, within a global structure and under tight deadlines.
• Champion change through visible and active commitment to drive the change process, while able to articulate the vision for change and engage with collaborators to build alignment.
• Strong interpersonal and communication skills (verbal and written).

Not required, but beneficial

• Masters in accountancy or finance, MBA or other financial certification including CFA, ERP, CPA.

Why join us

At bp, we support our people to learn and grow in a diverse and challenging environment. We believe that our team is strengthened by diversity. We are committed to fostering an inclusive environment in which everyone is respected and treated fairly.

There are many aspects of our employees’ lives that are meaningful, so we offer benefits to enable your work to fit with your life. These benefits can include flexible working options, a generous paid parental leave policy, and excellent retirement benefits, among others!

We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment. Please contact us to request accommodations.

Travel Requirement

Negligible travel should be expected with this role

Relocation Assistance:

This role is not eligible for relocation

Remote Type:

This position is a hybrid of office/remote working

Skills:

Analytical Thinking, Commercial Acumen, Commodity Risk Management, Communication, Creativity and Innovation, Curiosity, Data visualization and interpretation, Decision Making, Exposure Management, Group Problem Solving, Internal control and compliance, Market Knowledge, Market Risk Management, Operational Risk, Portfolio analytics, Resilience, Thought Leadership, Trade discipline and compliance, Trade execution and management, Trading and shipping data knowledge, Trading knowledge

Legal Disclaimer:

We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, sex, gender, gender expression, sexual orientation, age, marital status, socioeconomic status, neurodiversity/neurocognitive functioning, veteran status or disability status. Individuals with an accessibility need may request an adjustment/accommodation related to bp’s recruiting process (e.g., accessing the job application, completing required assessments, participating in telephone screenings or interviews, etc.). If you would like to request an adjustment/accommodation related to the recruitment process, please contact us.

If you are selected for a position and depending upon your role, your employment may be contingent upon adherence to local policy. This may include pre-placement drug screening, medical review of physical fitness for the role, and background checks.