Product Control Lead

  • Competitive + excellent benefits
  • London, England, United Kingdom
  • Permanent, Full time
  • BP Plc.
  • 15 Oct 18

This role is accountable for providing business understanding and control through the delivery of reporting and analysis. You will hold the primary interface into the trading front office for Global Environmental Products (GEP) trading activity, balancing independence with a business enabling partnership. GEP has the following core activities: managing BP’s carbon emission trading business, optimising BP Group's emissions and renewable fuels obligations world-wide; maximising value while ensuring compliance with EU and member state mandates and global regulations; managing a portfolio of Primary and Secondary projects in support of the longer term Environmental Products and BP Group ‘Advancing Lower Carbon’ strategy.

Key Accountabilities:

• Responsibility for all daily commodity risk activities associated with the European GEP business including: quality P&L validation and exposure reporting; new and amended deal checks; DOA and rogue trader risk monitoring; and market curve management.
• Provide oversight on all month-end activities including; reconciliation of trading P&L to the financial accounts; analysis of all de-marks and fair value accounting adjustments; commentary on all new and aged accruals; review of all primary carbon project exposures and non-standard transactions.
• Line management responsibilities for a small team of analysts, including on-going performance management, mid and year-end reviews
• Establish strong relationships with commercial and various functions across Europe in IST and the Fuel Value Chain (FVC), as well as maintaining global connectivity with all other GEP commodity risk teams
• Provide insight and analysis of environmental products markets while demonstrating keen awareness of domestic and international commodity markets

Essential Education:

Degree level or equivalent

Essential Experience:

• Understanding of commodity and energy trading
• Derivatives knowledge
• IT skills (Endur/OpenLink, SAP and Excel)
• Strong interpersonal and communication skills
• Demonstrates a working knowledge of the concept of mark-to-market and can articulate market/price volatility in terms of its effect on P&L, cash flow and working capital.
• Can readily calculate exposure based on new, existing or proposed trading positions.
• Attention to detail, ability to work with detailed transactions and accurately control, report and communicate trading activity
• Ability to perform in a deadline orientated environment

Desirable criteria:

• Accounting/Business degree or formally recognised Accounting qualification (ACA, ACCA, CIMA) beneficial.
• Able to understand and interpret operational risk data; identifies critical data for businesses and functions; highlights data most relevant to business drivers.
• Able to handle deviations and exceptions and knows when to raise any significant control breakdown

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