Middle Office Risk Analyst: Commodity Trading Co

2 weeks ago

London, United Kingdom Eaglecliff Limited Full time

Global, independent commodity trading company covering oil, gas and power markets has an exciting opportunity for a new Middle Office Risk Analyst to join this small but fast growing and fast paced trading house.
Middle Office Analyst reporting to Chief Risk Officer, you will be responsible for risk management duties including but not limited to position, PnL and market risk reporting, clearer and exchange reconciliations, sending evening PNL and margin call estimates.The role involves working closely with all departments throughout the business and will suit somebody looking to build on their prior oil/energy risk experience, or transition from a related role within the energy risk space.
KEY RESPONSIBILITIES
Daily Position, PNL & VAR
- Checking and verifying system risk exposure, PNL and VAR is correct, and publishing reports daily to the business.
- Running and maintaining the company's VAR and stress test model.
- Reporting daily MTM exposure of BFOE contracts by counterparty to support OTC collateral management.
- Check physical deal entry accuracy on T+1 and confirm system reflects deal recap and contract.
- Approve physical trade contracts and invoices for payment.
- Ultimately be accountable for the accuracy of system PNL and exposure.
Clearing & Exchange relationship
- Monitor the Firm's Initial Margin utilisation v limits, provide a daily 1-day forecast of IM call, and run what-if scenarios to assess impact of new trades.
- Liaising with clearers to book internal transfers, create new accounts and request limits.
- Signing off the firm's daily reconciliation process and investigating any breaks/issues where they arise.
Brokers
- Daily management of Back Office relationship with brokers including troubleshooting any issues relating to trade give-ups.
- Monthly reconciliation of invoices received vs system costs and confirming with treasury/accounts for payment.
Systems Development
- Work closely with business analysists and IT developers to help build new tools and systems to support risk management capabilities.
Accounts Reconciliation
- Work with the accounting team in the reconciliation of monthly, and year-end Trading v Account PNL and help investigate/explain any gaps.
SKILLS AND EXPERIENCE
- Very strong excel skills are required, ideally with Power Query experience.
- Prior experience in the oil and/or gas & power space preferable.
- A strong understanding of the risk associated with financial options is preferable.
- Experience with SQL and Tableau are a major plus.
- Programming Experience welcome (Python, for example).

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