StructurerUnited Kingdom - South East - London
Job ID 111014BRJob category Supply & Trading Group Relocation availableNoCityLondonCountryUnited KingdomTravel required Yes - up to 10%
Job profile summary:
Role synopsisThe Trading Analytics team sits within the front office and partners with our trading origination and sales teams, with an analytical and research focus and help in developing commercial trading views and longer-term energy trading deals. The Structuring function is within Trading Analytics and works with trading, sales and origination to help develop commercial structures and monetize shorter term trading and derivatives opportunities as well as longer term physical origination opportunities across Global Oil, European Gas & Power, Emissions, Global LNG, and North American Gas & Power.
An opportunity is currently available for a Structurer to join the Oil Structuring team in London within the Global Oil Europe organization to provide structuring support to the commercial teams. The individual will be a member of the broader regional commercial team and will be responsible for a) working proactively with traders, originators and business functions in analysing and developing structures, b) developing and improving valuation and hedging models of energy assets and exotic structured transactions, c) assisting in the structuring and valuation of deals by understanding and quantifying the embedded optionality, risks, and relevant value drivers, d) challenging and validating modelling approaches via back-testing and conducting research studies of price dynamics in the real vs. modelled world
Key accountabilitiesFinancial and Derivatives valuation
- Design and improve valuation models and techniques for deals and structures related to Oil products, LNG, gas, power and emissions
- Sound knowledge of industry standard models and methods
- Ability to understand models’ strengths and limitations and practical application
Communicate results to traders, origination and wider analytics.
- Have ability to both defend the results and incorporate relevant feedback
- Offer commercial insight into the valuation process, devising and advocating alternate deal structures to enhance value for the business
- Break down structured transactions into basic components
Work with wider commercial team and functions
- Develop approaches to value/assess non-standard or non-price risks imbedded in transactions on the go
- Work with relevant parties to identify and quantify both market and non-market risks and assist proposing hedging and other mitigations if available
- Degree level qualification: Economics, Finance or highly numerate subjects
Essential experience andjob requirements
- The candidate shall understand the key elements of the value chain and key drivers setting commodity prices, spreads and non-linear product pricing
- Ability to model complex financial and derivative structures
- Able to refine/develop complex models and tools
- Able to explain/communicate impact on deal value of price changes (level, spreads and dynamics) as well as valuation assumptions and hedging strategies
- Able to highlight points of interest and communicate succinctly
- Able to develop and maintain collaborative relationships within the structuring team as well as across the business
- Ability to identify potential opportunities and to act quickly and decisively
- High attention to detail to ensure robust and reliable analysis
- Able to set priorities
- Confidence to challenge fixed assumptions
Desirable criteria & qualifications
- Relevant experience in commodity markets (Oil, European gas & power and global LNG) preferably in a commercial role
- Demonstrated understanding of JV / M&A analysis, including venture economics valuation, capitalisation tables and funding options.
- Practical experience in physical commodities portfolio optimization
- Desired experience in application of quantitative finance, option pricing theory and risk management techniques to the commodities business and structured transactions
- Desired experience in managing exposure and valuation of oil, natural gas and power physical assets, and structured transactions, such as pipelines, storage, power plants, and exotic options.
- Postgraduate qualification in a finance or quantitative area or CFA designation will be a plus
About BP:We are a global energy business involved in every aspect of the energy system. We have 75,000 employees in 80 countries, working towards delivering light, heat and mobility to millions of people, every day. We are one of the very few companies equipped to solve some of the big complex challenges that matter for the future. We have a real contribution to make to the world's ambition of a low carbon future. Join us, and be part of what we can accomplish together.
Our supply and trading business connects BP to the world’s traded markets for oil, gas, power, refinery feedstocks and currencies. We market BP’s equity crude oil and natural gas, import feedstocks for our refinery system and buy products to meet marketing demand. We offer a combination of unique expertise in physical supply and trading, innovative financial structures, and world-class analytics to deliver long-term value, from wellhead to end customer.