BP Americas, Inc.
RPTA Commercial Analyst - Crude
BP Americas, Inc., Chicago, Illinois, United States, 60290
Entity:
Trading & Shipping
Job Family Group:
Supply & Trading Group
Job Description:
Our purpose is to bring together people, energy and markets to power and navigate a changing world. In a time of constant change and possibility we need new talent to pursue commercial opportunities, fueled by world-class insight and expertise. We’re always striving for more innovative digital solutions, sustainable outcomes and closer collaboration across our company and beyond, and you could be part of that too. Together we continue to grow as the world’s leading energy company!
The Commercial Analyst Refined Products Trading Americas (RPTA) is a key strategic front office position within the Crude Trading and Shipping organization. This position reports to the Commercial Manager for Crude. The role’s core responsibility includes delivering daily exposure to the trading bench, ensuring accurate representation in our reporting systems. The role will also entail participating in other commercial activities, which can include supporting origination, post-deal execution, and coverage for BPX interface/forecasting activities. The role will serve as the main contact point for Trading, Operations, Commodity Risk, and support functions for their respective books. The Commercial Analyst will collaborate across these groups to deliver a timely and robust exposure, while tracking and validating changes throughout the day.
The Commercial Analyst role works directly with specific books within a bench to ensure accurate/timely reporting of T0 exposure within bp systems of record. Precision and timeliness are key attributes required for this role, alongside an inquisitive mentality to understand the underlying portfolio and trading strategies of the various books. Crude sees these analyst roles as natural talent pipeline for those interested in pursuing a longer-term career in the front office, so the desire to learn, be proactive, and develop relationships with the traders, as well as functions, is a must.
This position is office based in Chicago.
Key
A
ccountabilities:
All accountabilities will be supported and supervised by the Crude traders. Depending on the bench, this will include, but not limited to the following:
Manage daily exposure for a select few trading books in the Crude bench – morning position updates, reconciliations, record intraday moves, end of day position explanation, collating orders, performing blotter checks, entering deal level cost provision, providing T+1 guidance to Commodity Risk/Trading to help with understanding of day-on-day changes/pnl drivers from expo related moves.
Support delivery of effective validation of deal valuation on t0 and ensure timely communication of performance (Expo / P&L) on t0 via the completion of the FTS process.
Effectively problem solve any issues identified in the t0 validation and FTS handover process in line with best practice and internal policies and procedures.
Validation of exposure and daily pricing in line with chain/portfolio strategy and ensuring books are appropriately hedged (flat price, FX and MOCs) and in line with defined strategy.
Support trading teams to ensure all deals are marked accurately in line with MTM policy, including monitoring and clearing of failed valuations and uploading daily curves where necessary.
Understand the dependency of accurate management information for MVaR generation and Trading & Shipping (T&S) Daily Note
Manage FX hedges, supporting futures expiry, EFP and Trigger price process for posting of futures via the broker and being point of contact for third parties to trigger lots for specific deals
Collaborate with Trading, Operations, and Commodity Risk to ensure accurate reflection of deal valuation throughout the lifecycle of the deal. This includes operational and deal amends, blending/regrades, updating exposure modelled deals, etc.
Serve as a key interface between Trading and other support functions (e.g. Contracts, Settlements, CDD, Legal).
Develop a clear understanding of all sources of value
Drive continuous improvement to streamline and simplify processes
Other responsibilities may include:
Post deal execution for term deals – Interpreting and communicating contract conditions – nominations, costs, physical optionality, etc.
Managing the cost reconciliation process and collaborate with support functions to ensure deals have the appropriate costs applied (freight, demurrage, etc).
Supporting on-bench business development / origination, including ensuring origination opportunities support trading strategies.
Essential Experience
:
Experience in commodity trading, in a role where commercially astute, strong analytical and numeracy skills are required
Technical knowledge in derivatives and physical trading strategies
Ability to prioritise and organise workload autonomously
Open communication style - Confidence to challenge where required and ask for clarity when in doubt.
Able to communicate key issues clearly and succinctly
Highly effective team player, eager to learn and teach.
Eager self-starter, with track record of solving business problems
Innovative approach to problem solving, technology and analytics
Proficiency in English (verbal and written communication)
Desirable Criteria:
Strong commercial awareness
Pro-active, driven, and strong desire to learn, contribute and find ways to contribute to the book P&L
Awareness and understanding of hydrocarbon operations awareness
Experience with bp deal entry systems
Intermediate Excel skills
You will work with:
A culture that prioritizes professional and leadership development while striving to deliver a rewarding place to work through a diverse, high caliber equitable workforce. Your key stakeholders connected to your supply chains are slightly different for each role but generally include the trader, counterparties, logistics service providers, and inspectors as well as internal functions including safety, finance, and risk.
Why Join bp:
At bp, we support our people to learn and grow in a diverse and challenging 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 offer benefits 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!
Travel Requirement
No travel is 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:
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.
Trading & Shipping
Job Family Group:
Supply & Trading Group
Job Description:
Our purpose is to bring together people, energy and markets to power and navigate a changing world. In a time of constant change and possibility we need new talent to pursue commercial opportunities, fueled by world-class insight and expertise. We’re always striving for more innovative digital solutions, sustainable outcomes and closer collaboration across our company and beyond, and you could be part of that too. Together we continue to grow as the world’s leading energy company!
The Commercial Analyst Refined Products Trading Americas (RPTA) is a key strategic front office position within the Crude Trading and Shipping organization. This position reports to the Commercial Manager for Crude. The role’s core responsibility includes delivering daily exposure to the trading bench, ensuring accurate representation in our reporting systems. The role will also entail participating in other commercial activities, which can include supporting origination, post-deal execution, and coverage for BPX interface/forecasting activities. The role will serve as the main contact point for Trading, Operations, Commodity Risk, and support functions for their respective books. The Commercial Analyst will collaborate across these groups to deliver a timely and robust exposure, while tracking and validating changes throughout the day.
The Commercial Analyst role works directly with specific books within a bench to ensure accurate/timely reporting of T0 exposure within bp systems of record. Precision and timeliness are key attributes required for this role, alongside an inquisitive mentality to understand the underlying portfolio and trading strategies of the various books. Crude sees these analyst roles as natural talent pipeline for those interested in pursuing a longer-term career in the front office, so the desire to learn, be proactive, and develop relationships with the traders, as well as functions, is a must.
This position is office based in Chicago.
Key
A
ccountabilities:
All accountabilities will be supported and supervised by the Crude traders. Depending on the bench, this will include, but not limited to the following:
Manage daily exposure for a select few trading books in the Crude bench – morning position updates, reconciliations, record intraday moves, end of day position explanation, collating orders, performing blotter checks, entering deal level cost provision, providing T+1 guidance to Commodity Risk/Trading to help with understanding of day-on-day changes/pnl drivers from expo related moves.
Support delivery of effective validation of deal valuation on t0 and ensure timely communication of performance (Expo / P&L) on t0 via the completion of the FTS process.
Effectively problem solve any issues identified in the t0 validation and FTS handover process in line with best practice and internal policies and procedures.
Validation of exposure and daily pricing in line with chain/portfolio strategy and ensuring books are appropriately hedged (flat price, FX and MOCs) and in line with defined strategy.
Support trading teams to ensure all deals are marked accurately in line with MTM policy, including monitoring and clearing of failed valuations and uploading daily curves where necessary.
Understand the dependency of accurate management information for MVaR generation and Trading & Shipping (T&S) Daily Note
Manage FX hedges, supporting futures expiry, EFP and Trigger price process for posting of futures via the broker and being point of contact for third parties to trigger lots for specific deals
Collaborate with Trading, Operations, and Commodity Risk to ensure accurate reflection of deal valuation throughout the lifecycle of the deal. This includes operational and deal amends, blending/regrades, updating exposure modelled deals, etc.
Serve as a key interface between Trading and other support functions (e.g. Contracts, Settlements, CDD, Legal).
Develop a clear understanding of all sources of value
Drive continuous improvement to streamline and simplify processes
Other responsibilities may include:
Post deal execution for term deals – Interpreting and communicating contract conditions – nominations, costs, physical optionality, etc.
Managing the cost reconciliation process and collaborate with support functions to ensure deals have the appropriate costs applied (freight, demurrage, etc).
Supporting on-bench business development / origination, including ensuring origination opportunities support trading strategies.
Essential Experience
:
Experience in commodity trading, in a role where commercially astute, strong analytical and numeracy skills are required
Technical knowledge in derivatives and physical trading strategies
Ability to prioritise and organise workload autonomously
Open communication style - Confidence to challenge where required and ask for clarity when in doubt.
Able to communicate key issues clearly and succinctly
Highly effective team player, eager to learn and teach.
Eager self-starter, with track record of solving business problems
Innovative approach to problem solving, technology and analytics
Proficiency in English (verbal and written communication)
Desirable Criteria:
Strong commercial awareness
Pro-active, driven, and strong desire to learn, contribute and find ways to contribute to the book P&L
Awareness and understanding of hydrocarbon operations awareness
Experience with bp deal entry systems
Intermediate Excel skills
You will work with:
A culture that prioritizes professional and leadership development while striving to deliver a rewarding place to work through a diverse, high caliber equitable workforce. Your key stakeholders connected to your supply chains are slightly different for each role but generally include the trader, counterparties, logistics service providers, and inspectors as well as internal functions including safety, finance, and risk.
Why Join bp:
At bp, we support our people to learn and grow in a diverse and challenging 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 offer benefits 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!
Travel Requirement
No travel is 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:
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.