Market Risk Specialist

Location: 
Warrenville, Illinois


Relocation Options: 
Relocation will be in accordance with current BP guidelines.


Responsibility for managing trading risk within Integrated Supply and Trading (IST) rests with the Risk Function headed by the IST Global Trading Risk Manager. The Market Risk team within the Risk Function focuses more particularly on driving IST's market risk agenda. Its role is to improve market risk measurement and control through the setting up of appropriate market risk policies and procedures; the development of adequate market risk measurement models; and the provision of market risk advice to management on new activities and projects. The Market Risk team is managed by the Head of Market Risk, IST. It includes, in particular, one Risk Manager for each of the four main IST trading locations (London, Houston, Chicago, and Singapore), along with their respective teams of risk professionals.


The IST Market Risk team is currently seeking a candidate for the position of Market Risk Specialist focusing on the Oil Americas (OA) regional business. The position is based just outside of Chicago and reports to the Risk Manager, Oil Americas. This position offers an excellent opportunity to make a significant difference to the way IST/OA measures and manages market risk; acquire in-depth exposure to risk management and trading strategies within IST; and gain knowledge of all markets in which OA is active.


Accountabilities Include:

Assist the Risk Manager of OA to drive improvements in market risk measurement and control within OA.
Provide ad-hoc assistance regarding market risk management issues across IST; although this is not expected to be the main focus of this position.
Articulate complex issues to non-specialists in a concise and clear manner.
Work closely with the rest of the Market Risk team/Risk Network, as well as with the middle offices of the relevant regional businesses.
Interact with the rest of the regional businesses and IST at large.


Required Qualifications: 
To be considered for the role of Market Risk Specialist applicants must have:

A minimum of 7 years of relevant experience, acquired at a firm in a related field (energy trading firm, financial institution, etc.).
Knowledge of the basic principles of market risk measurement and control.
A good understanding of the alternative methods available to calculate value-at-risk, define appropriate risk factors, account for non-linear instruments, etc.
Practical experience using market risk systems, preferably, but not necessarily, in an energy environment.
Knowledge of the practical difficulties/limitations of Market Value at Risk and other risk measures (volumetric limits, Greeks, etc).
A sound understanding of the need for a robust risk management framework in a trading environment. He/she will know how risk limits should be set and controlled.
A good understanding of the fundamentals of trading, including extensive familiarity with derivatives and other trading instruments.
The ability to be a team player to operate within a complex and dynamic trading business.
The interpersonal, communication and decision-making skills, coupled with the business acumen and sound commercial judgment to build credible relationships across IST.
A minimum of a Bachelor's Degree in Finance, Economics, Mathematics, Accounting or a related field.
Legal authorization to work in the US on a full-time basis for anyone other than your current employer.


Preferred Qualifications: 
In addition to the required qualifications the successful candidate is likely to be able to demonstrate:

Professional certifications in financial analysis, risk management, business or operations research (e.g., Financial Risk Management).
The willingness and ability to relocate to or commute on a daily basis to Warrenville, Illinois.
A minimum of 7 years of experience in market/trade risk, accounting and/or finance role.


If you are selected for the position, your employment will be contingent upon submission to and successful completion of a post-offer/pre-placement drug and alcohol screening as well as pre-placement verification of the information and qualifications provided during the selection process.


EOE M/F/D/V