Commercial Analyst

Entity:

Supply, Trading & Shipping

Job Family Group:

Supply & Trading Group

Job Description:

GLIGHTS is ST&S’s global Light ends products trading book. It's one of the most dynamic & fast-growing trading teams in ST&S, operating a global trading book model. GLIGHTS trades across multiple products such as gasoline, LPG, Naphtha, Petrochemicals which are structured under 4 main global pillars: Global Gasoline, Global Petrochemicals, Global Paper & Global Green Lights (Bio, low carbon, circular).  We have teams based in London, Singapore, Chicago, Houston & other RSOs to drive our ambitious global growth agenda.

About the Role

The role is London based reporting to the Lights Commercial Advisor Europe and will involve fostering relationships with commercial teams across all of the ST&S offices globally, where necessary for deal entry requirements on arb flows, self-funding transactions and global process simplification/standardization. They will also interface directly with the Traders and Support Functions within their own region. 

The Commercial Analyst will assist the Lights traders in monetizing commercial value in the book’s trading structures. This will include a focus on managing pricing options, post-deal management for complex deals, collaborating with internal stakeholders (including our Assets team), conducting analytical and continuous improvement work in support of risk management. 

Key Accountabilities

Book dependent, this will include, but not limited to the following:

• Managing daily exposure for all trading books – morning position updates, reconciliations, record intraday moves, end of day position explanation, collating orders, uploading hedges, performing blotter checks, MOC checks, entering deal level cost provision for completeness of Day 1 P&L valuation, etc.

• Conduct post-deal management internally, alongside brokers, and third parties – 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.

• Managing pricing options – evaluating structure options, driving rolls, nominating pricing to third parties.

• Input all deals daily in a timely, accurate, and reliable manner. Respond to support functions for deal entry queries.

• Provide daily support to the traders, ensuring changes in position can be clearly articulated upon request

• Manage and maintain daily and forward pricing, refreshing curves, and publish daily prices.

• Manage the cost reconciliation process and collaborate with support functions including working closely with Commodity Risk to ensure deals have the appropriate costs applied (freight, demurrage, etc).

• Understand inter-regional cargo optimisation.

• Manage working capital funding structures supporting bench RAN targets – optimising with operations and BMI

• Assist support functions with exposure queries, working as a critical interface between trading and functions.

• Supporting on-bench new activity, either integration or origination

• All deals, including house deals, are marked accurately in line with MTM policy, including monitoring and clearing of failed valuations.

• Support delivery of effective validation of deal valuation on t0

• Ensure timely communication of performance (Expo / P&L) on t0 via the completion of the FTS process.

• Ensure accurate reflection of deal valuation throughout the lifecycle of the deal. This includes operational and deal amends, blending/regrades, updating exposure modelled deals and dummy deals.

• Work with the ST&S strategic programmes to continuously modernize ways of working to reduce waste.

Essential Experience and Job Requirements

• Experience in commodity trading environment, 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 teammate, 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 & qualifications:

• 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

• Good interpersonal skills and ability to communicate well internally and externally in line with BP’s V&Bs

• Experience with bp deal entry systems

• Intermediate Excel skill

•  Have a progressive approach and actively drive continuous improvement to streamline and simplify processes

Why Join us:

At bp, we offer a supportive and inclusive environment where you can grow and develop your career. We provide flexible ways of working, competitive benefits, and opportunities to learn within a global organisation. We are committed to building a diverse workforce and creating a culture where everyone feels valued, respected, and able to thrive.We understand that people have different priorities and responsibilities, which is why we offer a range of benefits and flexible options to help you balance work and life effectively.

Join us in shaping the future and take the next step in your career with bp. Apply now.

Travel Requirement

Negligible travel should be 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:

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Legal Disclaimer:

We are an equal opportunity employer. We do not discriminate on the basis of protected characteristics like race, religion, color, sex, national origin, sexual orientation, 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.