Model Validation - Specialist

, United Kingdom

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Experienced Professionals

Job Description :

What you will be doing

The candidate will participate in the assignments of the Group validating Models used in the valuation and risk measurement of Commodity Portfolios, Physical Assets and Financial Instruments as well as the formulation of Market & other Input Data in Global Energy markets.She or he is based in London, Houston, Singapore or Bangalore .

The analyst bridges seven areas :

• Assessment that a Model is “fit for purpose” to analyze complex derivatives and assets such as Natural Gas & Oil Storage, LNG & Freight Cargos, Transport, Transmission , Power Generation and Battery Storage as well as calculate with various methodologies portfolio metrics like Market Value at Risk (Var), Credit Potential Future Exposure (PFE) and Economic Capital
• Analysis of Model algorithms applying different validation techniques which includ e using challenger models internally built or procured externally
• Review of process underlying a Model including inputs and outputs flows
• Determination of adjustments to Model required to mitigate weaknesses

Maintenance and extension of the Model Validation policy

• Inventory of Models used within the Risk Management Function (RMF) and without as requested
• Collection of code and documentation for successive Model versions

The different professionals involved in these activities along with the Group manager will intervene on a Model at 3 levels :

The Scientist Senior Analyst will investigate the conceptual underpinnings of the Model and audit the embedded algorithms with a view to identifying limitations to the model and remediations

The Engineer Analyst will consider the cases where the Model is applied and formulate test scripts to verify that inputs & parameters are used appropriately to generate outputs that are properly understood

The Technician Specialis t Analyst will compile the information related to the Model and execute test scripts

Engagement of the Model Validation specialists with external Stakeholders will be very significant starting with other groups in the RMF such as Quantitative Analysis, Portfolio Valuation, Market Risk Management Advisory, Market Risk Operations, Risk Management Transformation and Credit Risk Management Advisory.

They will also interface ongoing with Commercial Traders, Originators & Structurers, Quantitative Analysts & Research Analysts as well as Back-Office and Information Technology Departments.

The Model Validation specialists also participate in educational efforts with benefits across RMF and the firm.

The skills required for the tasks include :

• The application of advanced financial mathematics to formulate algorithms used for valuation and risk measurement of complex derivatives , assets and portfolio s
• Industry experience in structuring and balancing these deals and portfolios while selecting the appropriate inputs & parameters for modeling
• Abilities in multiple software tools to analyze the code underlying a Model and build challenger Models by transforming algorithms quickly in working applications
• Data analysis techniques allowing to follow data extraction, transformation and interfacing from numerous corporate systems in to a Model application
• Communication methods to explain the Model implications to Senior Management as well as Quantitative Specialists who built and are using the Model

What you bring

A degree in business administration, finance, economics, mathematics, engineering or information systems at the bachelor’s or above level for the Technician specialist and master’s to PhD for the Engineer and Scientist

General knowledge of energy markets, natural gas, power, emissions, oil crude & products and LNG

Preferably 5 -8 years of relevant experience in risk management in the Energy industry

CQF, ERP, FRM and other related certifications are welcome

Excellent critical thinking and problem-solving skills

• Strong analytical skills with attention to detailed data analysis and complex model configuration
• Ability to multi-task and accommodate organic changes in requirements for deliverables
• Ability to work as a team member and with all members of the organization.
• Ability to communicate complex technical ideas, regardless of the technical capacity of the audience
• Proficiency with Microsoft Office Suite, SharePoint and Teams
• Knowledge of SQL e.g. TOAD or GOLDEN, VBA independently or within Excel, C# and .Net
• Experience with one or several analytical languages like Python, R, MatLab or SAS
• Usage of either QlikSense , QlikView, Spotfire, Power BI or Alteryx
• Navigation in Energy Trading and Risk Management systems (ETRMs) Ion OpenLink ENDUR, SunGard Nucleus, FIS Aligne , CubeLogic and using or connecting analytical libraries Lacima , K yos , Topaz, SAS Vija, ZEMA cQuant , Numerix , Ion Allegro FEA & Open Source Risk (OSR)
• Application processing in the Microsoft Azur Cloud and AWS

What we offer

You bring your skills and experience to Shell and in return you work with talented, committed people on one of the most important challenges facing our planet. You’ll have the opportunity to develop the skills you need to grow in an environment where we value honesty, integrity, and respect for one another. You’ll be able to balance your priorities as you become the best version of yourself.

Progress as a person as we work on the energy transition together.

Continuously grow the transferable skills you need to get ahead.

Work at the forefront of technology, trends, and practices.

Collaborate with experienced colleagues with unique expertise .

Achieve your balance in a values-led culture that encourages you to be the best version of yourself.

Perform at your best with a competitive starting salary and annual performance related salary increase – our pay and benefits packages are considered to be among the best in the world.

Take advantage of paid parental leave, including for non- birthing parents.

Join an organisation working to become one of the world’s most diverse and inclusive in the world. We strongly encourage applicants of all genders, ages, ethnicities, cultures, abilities, sexual orientation , and life experiences to apply.

Grow as you progress through diverse career opportunities in national and international teams.

Gain access to a wide range of training and development programs .

We’d like you to know that Shell has a bold goal : to become one of the world’s most diverse and inclusive companies. You can get to know more about how we\’re working towards that goal, .

We are committed to attracting a broader and more diverse pool of candidates. If this position doesn’t feel like the perfect fit for your qualifications right now, we’d still love to hear from you. Consider creating a profile in our Talent Community so we can keep you in mind for future opportunities that may align with your skills.

Shell in The World

Shell UK remains one of the North Sea’s biggest producers, supplying around 10% of the UK’s total oil and gas needs. But perhaps the most recognizable face of Shell in the UK is our network of over 1,000 Shell-branded service stations.

In the years ahead, as the UK looks to strengthen energy security and deliver its 2050 net-zero goal, Shell UK aims to play a crucial role.We aimto be a major investor in the UK energy system by helping our customers decarbonize with a focus on transport and industry.