Commercial Analyst

BP•Houston, TX

1d•Hybrid

About The Position

Global Lights (GLights) Trading & Origination is part of the Trading and Shipping (T&S) refining and products trading organization. GLights trades multiple commodities around the world such as gasoline, naphtha, ethanol including natural gas liquids (NGLs) around bp upstream and downstream assets and with third parties. We have Natural gas liquids (NGL) traders and originators in Houston, London, and Singapore with representatives in regional offices throughout the world. The Commercial Analyst role will be based in Houston and part of the GLights front office commercial trading team working closely with the NGL & Ethane/Olefin trading 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 & marketers both in the system of record and the trader sheets. This role will also frame, lead, and deliver various bench projects including support the enabling of commercial growth opportunities as requested. This is a dynamic front office position with direct engagement with the trading & marketing bench and can serve as a stepping-stone to other commercial roles.

Requirements

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
Knowledge of NGL’s, Petrochemicals and/or other relevant energy commodities.

Nice To Haves

Experience in applying emerging AI and technical development applications in solving business issues
Experience in ION’s Right Angle ETRM but not require; Right Angle is our primary deal capture and scheduling system for rail, pipe, and truck

Responsibilities

Provide daily deal management support to the trading, origination, marketing, and optimization teams in conformance with Supply, Trading & Shipping (ST&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 deal entry performance expectations, and record explanations as to any deal entry errors, amendments and notifying management.
Perform end of day business recap summary of commercial activities and profit & loss ensuring basis curves are marked, captured timely and accurately , and all deals have been entered and understood and be prepared to address any questions.
Support the end-to-end process for counterparty transactions as it relates to commercial activities that includes but not limited to: Pre-deal checks that include ensuring the business is dealing with approved customers, appropriate basis curve set-up, location setup, and credit capacity checks.
Support the initiation New Client requests (including corporate event names change management) and of New Master Agreements (e.g., NAESB)
Support the commercial team in remediating any trade confirmation disputes, settlement, and overdue payment items.
Act as internal enabler liaison providing timely and accurate responses to any inquiries of the business from Commodity Risk, Settlements, Tax, Legal, Ethics & Compliance, 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.
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 AI modeling and Excel programming resources in support of the business.
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.
Operate compliantly within the bp CoC and relevant laws and regulations, respect for all and speaking up and complete all required training on time.