Job Description:Team Synopsis:Within T&S, you will be part of our Global Lightends (GLights) trading bench within the Refining and products trading team (RPT). GLights trading is one of 3 benches in RPT, a business unit of T&S which serves three primary purposes.
- First and foremost, it provides a trading and execution service to BP's assets around the globe. This includes assisting equity marketing, crude supply, product import/export, and price risk management.
- Secondly, GLights seeks to make use of its skills, global connectivity and market insight to generate entrepreneurial trading income.
- Thirdly, GLights is accountable for ensuring all trading happens within a robust compliance and trading infrastructure, including systems and controls.
GLights trades from 4 main global locations; Singapore, London, Chicago & Houston and is market facing for commodities from the light end of the barrel, including but not limited to gasoline, naphtha, ethanol, petrochemicals, LPG and bio and circular lightends.
Role Summary:The Commercial Analyst role will be based in Houston and part of the GLights front office commercial trading team reporting to the Commodity Commercial Advisor (CCA) and directly supporting the Americas NGL & Ethane/Olefin trading, optimization and marketing teams including the origination and structuring team. The position will be primarily responsible for executing daily bench operations before, during and post the trading session close including timely, accurate and complete deal capture management and pricing exposure for traders both in the system of record and the trader sheets. This role will also frame, lead, and deliver various bench projects including supporting the enabling of commercial growth opportunities as requested.
This is a dynamic front office position with direct engagement with the trading, marketing and origination bench and can serve as a stepping-stone to other commercial roles.
Key Accountabilities:- Provide daily deal management support to the trading, origination, marketing, and optimization teams in conformance with T&S Deal Management Standard including ensuring the system of record and any deal management team sheets are promptly updated with new deals, checking accuracy after deal completion, and resolving any discrepancies timely working directly with each deal owner.
- Ability to thoroughly understand and interpret the various deals and structures transacted by the commercial team throughout including having strong command of the overall portfolio and various book strategies and having the courage to question any details that do not appear consistent with the individual book strategies.
- Ensure deal entry metrics remain in line with KPI expectations, and record explanations as to any deal entry errors, amendments and notifying management.
- Perform end of day recap summary of commercial activities and P&L ensuring basis curves are marked, captured timely and accurately onto the Asset Control curve upload spreadsheet and nightly P&L Flash, all deals have been entered and understood and be prepared to address any questions.
- Act as internal enabler liaison providing timely and accurate responses to any inquiries of the business from Commodity Risk, GBS, Tax, Legal, E&C, Contracts, Confirmations.
- Ensure timely and accurate exposure measurement and reporting for all books through regular communication with the deal maker and relentlessly pursuing and solving for any reconciliation differences with Position Manager and SRA.
- Support on-desk profitability calculations (i.e., P&L by deal, portfolio, deal maker, region, and strategy) and reporting; understand sources of value and be able to provide desk and management explanatories.
- Obtain a thorough understanding of exposure, pricing, trading, analytics, operations and how they all work together to increase profit working across the portfolio.
- Use emerging and digital technologies such as modeling and Excel programming resources in support of the business.
- Participate and execute the delivery of the Americas NGL growth agenda including but not limited to i) global arb book activity that includes deal entry, daily MTM management, end of day exposure reporting, flash profit and loss, ii) options trading book, iii) new interface book and iv) new geography expansion.
- Supports NGL Origination Y-Grade team.
- Support the Head of Origination to convene the monthly Y-Grade performance meeting.
- Provides analytical support on commercial opportunities including insights into regional industry infrastructure and customer activities to assist in opportunity and offer development.
- Reviews complex contracts to identify exposure and ensure appropriate risk mitigation provisions are addressed.
- Maintain an up-to-date procedures and capture these in the desk manual.
- Drive opportunities for efficiency in processes and controls, while ensuring rationalizing return on investment of processes and effort are in line with business objectives.
- Performance Management Reporting Accountabilities: Work closely with the CCA to own the current process and seek to improve and enhance all reports/tools across the business.
- Operate compliantly within the bp CoC and relevant laws and regulations, respect for all and speaking up and complete all required training on time.
Essential Experience:- Knowledge of commercial terms and contracts
- Ability to work under pressure with specified timelines and due dates.
- Attention to detail is key.
- Strong Excel skills
- Ability to manage competing priorities and work across commercial and operations team.
- Self-motivated
- Proven interpersonal and communications skills.
- Ability to improve efficiency and reduce complexity through process improvements.
- Bias towards open thinking and learning
- Good documentation and organizational skills.
- Willingness to foster a safe and compliant work environment.
- Strong negotiations skills
- Industry knowledge of NGL's, Petrochemicals and/or other relevant energy commodities.
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 encouraging 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: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:Agility core practices, Agility tools, Analytical Thinking, Authenticity, Communication, Conflict Management, Creativity and Innovation, Decision Making, Digital Automation, Digital Collaboration, Digital Communication, Digital fluency, Digital Visualization, Diversity, equity and inclusion, Exposure Management, Group Problem Solving, Influencing, Listening, Market Knowledge, Negotiating value, Negotiation planning and preparation, Presenting, Statistics, Strategic Thinking {+ 5 more}
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.
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