Lead Portfolio Risk

2 weeks ago

SunburyonThames, United Kingdom BP Full time

**Job Profile Summary**

Grade GResponsible for delivering advanced analysis, research and reporting to provide deep business understanding and control, strategically utilizing networks, mitigating high-impact trading risks and driving regulatory compliance in order to support theteam's core accountability of delivering independent daily exposures, profit and loss (P&L) reporting and analysis of trading activities.
**Job Advert**

Location: London Canary Wharf 3 days. Home working 2 days
In T&S (Trading & Shipping), our purpose is to power and navigate a constantly evolving world. We’re always seeking for more innovative digital solutions, sustainable outcomes, and closer teamwork across our company and beyond
Do you want to lead in a quantitative role within a Commodity Risk team? This role sits within the Gas and Power Trading International (GPTI) Commodity Risk team and is accountable for providing deep business understanding on risk measurement and control.
Key accountabilities
- Provide technical advice to Commodity Risk on the representation, valuation and risk measurement of deals involving optionality and/or illiquid assets.
- Provide technical advice to the risk methodology and its implementation across T&S.
- Deep understanding of different MVaR methodologies, Marginal MVaR, historical/hypothetical scenario analysis, trends risk metrics, long term risk, etc.
- Deep understanding of modelling of risk, including concepts such as Exponential Weighted Moving Average volatility, Cholesky decomposition, Monte Carlo simulation, Geometric Brownian Motion, etc.
- An understanding of the impact on these assumptions to the way risk is expressed and its link to actual portfolios/markets.
- Providing guidance on functional assurance process through which new activities and projects considered by the Front Office are being evaluated and approved
- Implementing and delivering the projects affecting the overall GPTI control framework and ensuring compliance with the overall T&S control framework

Essential education
- Advanced degree mathematics, science, engineering, etc. is highly desirable.

Essential experience and job requirements
- Strong analytical skills including the ability to understand and communicate sophisticated transactions with embedded optionality as well as the ability to assess the market risk impact of those transactions on an existing portfolio
- Strong numeracy and practical experience on Python or other coding languages.
- Familiarity with the basic principles of market risk measurement and control. Understanding the alternative methods available to calculate value-at-risk, define appropriate risk factors, account for non-linear instruments, etc
- Familiarity with the practical difficulties/limitations of MVaR and other risk measures (volumetric limits, Greeks, etc) either through working in the middle office or a front office role
- Sound understanding of the need for a robust risk management framework in a trading environment. You will know how risk limits should be set and controlled in order to ensure that the organization only takes the risks it is comfortable with
- Good understanding of the fundamentals of energy trading, including extensive familiarity with derivatives and other trading instruments
- Wide knowledge and good understanding of energy trading markets (European gas, power and LNG) and various instruments
- Ability to lead initiatives, influence and participate in decisions and collaborate effectively with commercial and functional partners.

Desirable criteria
- Proven understanding of global gas and power market drivers, physical assets, and fundamentals
- Proven experience preferably in LNG or Gas/Power Europe Market Risk or Trading roles
LI-MM1
**Entity**

Finance
**Job Family Group**

Finance Group
**Relocation available**

No
**Travel required**

Negligible travel
**Time Type**

Full time
**Country**

United Kingdom
**About BP**

**FINANCE**
Join us in a crucial time of transition. We are bringing all of our finance and procurement activities for the group into one place, enabling better work.
For you this means working with us on:
**Compliance** - efficiently delivering external reporting requirements to ensure we continue to meet our regulatory ?obligations in all jurisdictions, supported by robust control environment across all three lines of ?defence.?
**Stewardship** - laying out a robust finance framework and providing ongoing management of the balance sheet and ?portfolio execution, supported by effective advocacy to the market.?
**Performance** - facilitating the effective allocation of capital, development of business plans and coordination of ?business performance interventions to ensure a consistent delivery between strategic aspirations, ?operational forecasts and deliveredoutcomes. Furthermore, you will be responsible for value creation through mergers and acquisition-led ?deals, commercial negotiations and integration of business opportunities.?
**Transformation** - driving digital transformation (centralising, digitising, optimising) across all elements of the finance entity to ?achieve sector-leading cost-performance.?

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