Carbon Optimizer

bp•Chicago, IL

2d•$98,000 - $140,000•Hybrid

About The Position

The Low Carbon Optimizer will optimize carbon emission credits and options within the Low Carbon Trading (LCT) Team and will be integral to the success of bp’s low energy transition. This role will manage compliance and entrepreneurial positions, as well as be responsible for supporting the low carbon origination activity in Trading & Shipping. As an optimizer on the LCT Team, you will be working alongside traders and originators to grow commercial activities related to Cap & Trade programs, carbon credits from biofuels, and carbon offsets. This role must develop speculative trading strategies based on in depth analysis of fundamental and technical data. The ideal candidate has mid-level experience in derivatives, energy, or environmental credits and mastered relevant fundamentals. LCT trades environmental attributes that mitigate greenhouse gases. LCT products are associated with biofuels, stand-alone carbon markets such as cap and trade programs, or opt-in voluntary offsets that sustainability contribute to Environmental, Social, and Governance (ESG) goals. LCT is a global team working in London, Chicago, Houston, Calgary, and Singapore.

Requirements

Bachelor’s degree required
Strong analytical skills, commercial mentality, and attention to detail
Track record of entrepreneurial PnL delivery through trading and related commercial experience
Control and compliance familiarity in a trading environment
Adhere to our beliefs and how we work at bp
Progress our culture to foster continuous improvement on the bench
Excellent integrity and character
Ability to multi-task and prioritize independently
Self-starter, independent problem solver, and willingness to develop solutions and opportunities proactively
Strong communication skills (written and verbal)

Nice To Haves

Ability to code and build models to support trading decisions
Familiar with relevant environmental policies and regulations

Responsibilities

Build deep understand of relevant regulations to ensure BP compliance
Collaborate with BP analytics to inform the market view and understand the impact of market developments
Generate entrepreneurial profit by taking positions in options, futures, and physical
Assess, propose, and prioritize agreed trading strategies that are workable and adequately resourced to deliver commercial value
Optimize and manage risk for compliance, speculative and origination activity
Ensure the risk/reward of trade strategies are properly analyzed, understood, and communicated
Work with team members to implement the trade strategy, using approved physical and financial instruments
Optimize in a disciplined manner within agreed limits
Understand and ensure that exposure reports are accurate such that the system of record is right with timely reconciliation of discrepancies and address issues or questions that arise from middle or back office.
Ensure deal entry metrics stay in line with key performance indicator (KPI) expectations
Understand and manage transactional risks assuring required credit limits are in place, funding requests are driven, and records of transactions are available for reporting purposes.
Build out or improve trading execution tools
Back-up other traders on the bench
Collaborate with originators to inform price for both compliance credits and voluntary offsets
Develop relationships with external market participants
Keep abreast of relevant trading processes and procedures, understand how new business is captured and reflected in bp’s system of record and follow deal entry requirements
Support the origination, business development, and structuring teams
Understand and master cross commodity correlations and margins

Benefits

Paid vacation depending on your years of relevant industry experience and will range from 120 – 240 hours of vacation per year for full time employees.
9 paid holidays per year
2 personal choice holidays
Up to 8 weeks’ paid leave for the birth or adoption of a child (parental leave policy)
Discretionary annual bonus program
Long-term incentive program
Generous retirement benefits that include a 401k matching program
Pension for eligible employee
Health, vision, and dental insurance
Life insurance
Short-Term Disability
Long-Term Disability