Entity:

Finance

Job Family Group:

Finance Group

Job Description:

The role of Commodity Risk Specialist at BP is a key control position within the organisation. This role is responsible for providing in-depth business understanding and oversight through the delivery of reporting and analysis. The position serves as the primary point of contact with the trading front office, balancing independence with a collaborative business partnership. This role requires a deep knowledge of Commodity Risk activities, in order to fulfil the core responsibility of the team to provide independent market risk analysis and risk mitigation strategies.

Key Accountabilities

• Develop and improve expertise within the business, including exposures, strategies, and market fundamentals.
• Interpret existing ST&S commodity risk policies, especially the Market Risk Operating Standard and Delegation of Authority policies, ensuring their accurate application, as well as providing input into the definition of new policies and procedures.
• Implement and manage risk models and produce market risk analysis (including MVaR, Stress Testing, Liquidity Testing, Concentration Risk, sensitivities and scenario analysis, backtesting), and flag potential material risks to the Front Office and senior management to support risk mitigation and decision-making. This includes conducting regular reviews of trading books to ensure market risks are adequately quantified and controlled, and making recommendations regarding potential methodological changes and risk controls.
• Review and recommend appropriate risk parameters to assess and control the level of risk-taking for the respective trading books.
• Constructively challenge trading activity to ensure compliance and alignment with intended trading strategies.
• Assess and conduct risk evaluations of new investments/businesses and commercial initiatives proposed by the front office.
• Provide an independent opinion on the risk and reward of new activities and propose recommendations on risk mitigation approaches.

Role Requirements

• Good understanding of market risk measurement principles and quantitative finance, and how these can be applied to build robust controls in a trading business.
• Experience in commodity risk management and/or familiarity with energy markets would be viewed favourably.
• Effective working and influencing as part of formal teams, informal networks, and as an individual and team contributor.
• Proven track record of applying risk mitigation strategies.
• Analytical demeanor and proactive approach to problem-solving.
• Ability to articulate how each trading book performs holistically with regard to the profit/loss generated versus the level of risk taken in its trading strategies.
• Experience with valuation and analysis of physical and financial derivatives is crucial.
• Ability to understand and communicate sophisticated models and trading transactions in accessible terms to a non-technical audience, highlighting key economic impacts.
• Self-motivated with the intellectual ability and curiosity to read, interpret, and maintain up-to-date knowledge in relevant risk management, trading, and market fundamentals.
• Advanced proficiency in MS Excel.
• Attention to detail and ability to operate in a fast paced environment.
• Advanced English language skills.
• Availability to reside and work in São Paulo.

Desirable Qualifications

• Understanding of option pricing theory and the measurement of risk in non-linear transactions.
• Professional qualifications in financial analysis, risk management, or equivalent areas.
• Experience in programming in any high-level language.
• IT proficiency and basic understanding of market risk reporting systems operations and data extraction.

Why join us

At bp, we support our people to learn and grow in a diverse and high-reaching 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 o8er benefits (https://exploreyourbenefits.com/landing.html) 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 accommodation.

BEWARE – RECRUITMENT FRAUD It has come to our attention that there are a number of fraudulent emails from people pretending to work for bp. Please be advised that we do not require any forms of payment or course by applicants to be considered for open positions.

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:

Accounting policy, Accounting Processes and Financial Systems, Analytical Thinking, Analytics, Business process control, Business process improvement, Commercial Acumen, Customer centric thinking, Data Analysis, Digital Fluency, Financial Reporting, Internal control and compliance

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.