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- Tasks: Lead a team managing risk for oil trading and provide insights to 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 highly international team and drive digitalisation in risk control processes.
- Why this job: Make a real impact in the oil industry while developing your leadership skills.
- Qualifications: Experience in risk management within the energy sector 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.
Responsibilities:
- 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.
- Daily monitoring and reporting to management on limit utilisation and risk exposure, particularly regarding market price and counterparty risk in a quantitative manner (e.g. 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).
- 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.
- Steer complex functional tasks and broadly defined problems in trading areas with many touchpoints and interdependencies to traders, operators and finance.
- Defines procedures, guidelines and policies (Annual Plan, Rulebook) and provides input for long-term strategy.
- Provides clear, usable advice to the business.
- Lead role for all risk control tasks and implementation of new trading strategies.
- 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.
- Leadership responsibility for Oil Risk Control department with budget responsibility.
- 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.
- Leading digitalization and optimization of processes for the risk control team.
Qualifications:
- 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.
- 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 and experience with ETRM systems and excellent MS Excel knowledge.
- Elementary understanding of imperative programming languages, for instance VBA for Excel or Python.
- Business level of English language (verbal and written) essential with excellent communication skills with the ability to communicate complex issues simply.
Oil Risk Manager 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
✨Network Like a Pro
Get out there and connect with people in the oil trading industry! Attend events, join relevant online forums, and don’t be shy about reaching out on LinkedIn. We all know that sometimes it’s not just what you know, but who you know that can help you land that Risk Manager role.
✨Show Off Your Skills
When you get the chance to chat with potential employers, make sure to highlight your quantitative risk metrics understanding and experience with ETRM systems. We want to see you confidently discussing your past achievements and how they relate to the job at hand!
✨Prepare for the Interview
Do your homework on the company and the specific challenges they face in oil trading. We suggest preparing some insightful questions about their risk management strategies and how you can contribute to their goals. This shows you’re genuinely interested and ready to hit the ground running!
✨Apply Through Our Website
Don’t forget to apply through our website! It’s the best way to ensure your application gets seen by the right people. Plus, we love seeing candidates who take the initiative to engage directly with us. Let’s get you that Oil Risk Manager position!
We think you need these skills to ace Oil Risk Manager
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 any relevant 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 job description and show us your passion for risk management in the oil trading sector.
Showcase Your Technical Skills: Don’t forget to highlight your technical skills, especially your knowledge of ETRM systems and programming languages like VBA or Python. We’re looking for someone who can navigate complex data and provide insightful analysis, so make sure we see that in your application!
Apply Through Our Website: We encourage you to apply through our website for a smoother process. It helps us keep track of your application and ensures you don’t miss out on any important updates. Plus, it’s super easy to do!
How to prepare for a job interview at Richard James Recruitment Specialists Ltd
✨Know Your Risk Metrics
Make sure you brush up on your quantitative risk metrics and risk modelling experience. Be ready to discuss how you've applied these in previous roles, especially in the context of oil trading. This will show that you understand the core responsibilities of the position.
✨Familiarise Yourself with ETRM Systems
Since the role involves working with Energy Trading and Risk Management systems, it’s crucial to have a solid understanding of ETRM systems. Prepare examples of how you've interacted with such systems in the past, and be ready to discuss any relevant IT upgrades or implementations you've been involved in.
✨Communicate Complex Ideas Simply
Given the need for clear communication with traders and management, practice explaining complex risk concepts in simple terms. You might be asked to break down a complicated scenario during the interview, so being able to articulate your thoughts clearly will set you apart.
✨Show Leadership Experience
As this role involves leading a team, be prepared to share your leadership experiences. Discuss how you've managed teams in high-pressure environments, particularly in risk control or trading contexts. Highlight any successful strategies you've implemented that improved team performance or risk management processes.