Find a job 
Featured Companies 
Featured Universities 
For Companies At a Glance
- Tasks: Lead a team managing risk in oil trading and provide insights for traders and management.
- Company: Global oil trading company based in Central London with a dynamic environment.
- Benefits: Competitive salary, international exposure, and opportunities for professional growth.
- Other info: Join a diverse team and be part of innovative trading strategies.
- Why this job: Make a significant impact in the oil industry while developing your leadership skills.
- Qualifications: Degree level education, experience in risk management, and strong analytical skills.
The predicted salary is between 80000 - 100000 £ per year.
Our client is a global Oil trading company, based in Central London. Their core focus is the supply, marketing and trading of physical and derivative crude oil and refined petroleum products.
We are looking for an experienced Risk Manager to lead and manage a small team who manage the risk for the supply and trading business, provide information to traders for what position to hedge, and provide information to management on PnL, VaR, market price risk position and credit risk.
KEY RESPONSIBILITIES:- Leadership: Lead and manage the Risk Control department. Advisory function for Risk Control relevant topics to the Executive Board. Define and communicate the goals of the Risk Control department.
- Risk management: Daily monitoring and reporting to management on limit utilisation and risk exposure, in particular regarding market price and counterparty risk in a quantitative manner (e.g. VaR and PFE). Scenario analysis, stress tests and back testing of pricing, market and evaluation models. Assessment of long-term risks, especially in the context of yearly strategy development, new projects and M&As. Position analysis and reporting for management defined metrics. Responsibility for the accurate risk measurement of trading positions in the Energy Trading and Risk Management system (ETRM).
- Compliance: Maintenance of the risk rulebook, the risk procedure handbook, the annual plan and the trading mandates, as well as monitoring adherence to the guidelines defined therein. Escalation of any limit breaches or violations of risk regulations and directives. Approval of procedures regarding position modelling, valuation, and P&L calculation as well as of new products and instruments, enabling best-practice industry standards for all risk-related activities. Enforcement of data compliance (especially for external market price data) and review of market conformity of prices, volatilities and correlations.
- Problem Solving: Steers complex functional tasks and broadly defined problems in trading areas with many touchpoints and interdependencies to traders, operators and finance. Situations regularly require adaptation or development of new solutions through analytical, interpretative, evaluative, creative and innovative thinking. Defines procedures, guidelines and policies (Annual Plan, Rulebook) and provides input for long-term strategy. Provides clear, useable advice to the business. Leads internal discussions and questions status-quo. Lead role for all risk control tasks and implementation of new trading strategies.
- Accountability: A highly international role that manages processes or people for all risk control related tasks of oil trading located in Europe and Singapore, with dedicated resource responsibility for risk control team. Decides within area of responsibility in a complex and dynamic environment. Management roles: Leadership responsibility for Oil Risk Control department with budget responsibility.
- ETRM/Digitalization: Involvement in the requirements for and the design and implementation of the ETRM including interfaces to neighbouring systems and support of the implementation of an integrated IT landscape. Responsibility for testing risk functionality in case of IT system upgrades and new releases. Responsible for the ETRM Super User function. Leading digitalization and optimization of processes for the risk control team.
- Educated to degree level (or equivalent).
- Quantitative risk metrics understanding and risk modelling experience.
- Understanding of imperative programming languages.
- Previous professional experience as Risk Manager/Controller within a commodity bank, energy business, energy trading house.
- Oil industry experience, for physical oil, refined products and derivatives.
- Excellent knowledge of Trading instruments (Physical, Swaps, Futures, Options).
- Very good understanding of trading concepts and exposure and the key controls required to support a trading business.
- Very good theoretical and practical knowledge and application of quantitative risk metrics and risk modelling.
- Very good knowledge of operational side of Trading in order to understand different positions.
- Very good knowledge and experience with ETRM systems and excellent MS Excel knowledge.
- Elementary understanding of imperative programming languages, for instance VBA for Excel or Python.
- Affinity with numbers with strong analytical capabilities and attention to detail.
- Business level of English language (verbal and written) essential with excellent communication skills with the ability to communicate complex issues simply.
- Self-starter with the ability to work independently under stress and to meet deadlines also an effective team player.
Oil Risk Manager in London employer: Richard James Recruitment Specialists Ltd
Contact Detail:
Richard James Recruitment Specialists Ltd Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Oil Risk Manager in London
✨Tip Number 1
Network like a pro! Reach out to industry contacts on LinkedIn or attend relevant events. We all know that sometimes it’s not just what you know, but who you know that can land you that dream job.
✨Tip Number 2
Prepare for interviews by practising common questions and scenarios related to risk management. We suggest doing mock interviews with friends or mentors to boost your confidence and refine your answers.
✨Tip Number 3
Showcase your expertise! Bring along examples of your previous work or case studies that highlight your risk management skills. We want to see how you’ve tackled challenges in the past and what you can bring to the table.
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets noticed. Plus, we love seeing candidates who are proactive about their job search.
We think you need these skills to ace Oil Risk Manager in London
Some tips for your application 🫡
Tailor Your CV: Make sure your CV is tailored to the Oil Risk Manager role. Highlight your experience in risk management, especially in the oil industry, and showcase your quantitative skills. We want to see how your background aligns with our needs!
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to explain why you're the perfect fit for this role. Mention specific experiences that relate to the key responsibilities listed in the job description. Let us know what makes you tick!
Showcase Your Analytical Skills: Since this role involves a lot of analytical work, make sure to highlight your experience with quantitative risk metrics and modelling. Share examples of how you've used these skills in past roles to manage risk effectively.
Apply Through Our Website: We encourage you to apply through our website for a smoother application process. It helps us keep track of your application and ensures you don’t miss any important updates from us. We can’t wait to hear from you!
How to prepare for a job interview at Richard James Recruitment Specialists Ltd
✨Know Your Numbers
As an Oil Risk Manager, you'll need to be comfortable with quantitative risk metrics. Brush up on your knowledge of VaR, PnL, and market price risks. Be ready to discuss how you've used these metrics in past roles to inform trading decisions.
✨Showcase Your Leadership Skills
Since this role involves leading a team, prepare examples that highlight your leadership experience. Think about times when you successfully managed a team or project, and be ready to explain how you defined goals and communicated them effectively.
✨Understand the Trading Landscape
Familiarise yourself with the trading instruments relevant to the oil industry, such as futures, swaps, and options. Be prepared to discuss how these instruments impact risk management and how you've navigated complex trading environments in the past.
✨Demonstrate Problem-Solving Skills
This role requires innovative thinking to tackle complex problems. Prepare to share specific examples where you've had to adapt or develop new solutions in a trading context. Highlight your analytical skills and how they contributed to successful outcomes.