Senior Manager Commodity Risk (Power)

bp • Plaza, ND

20h • Hybrid

About The Position

The Commodity Risk Group is a key middle-office, risk, and financial controls function accountable for ensuring that trading and origination activities are conducted within a robust control framework. The Senior Manager, Commodity Risk (Power) position is a leadership role accountable for end-to-end market risk oversight, financial integrity, and control effectiveness for the Power trading portfolio. This role serves as a senior partner and trusted advisor to Trading, Marketing & Origination, Structuring, Scheduling, Finance, and Operations while maintaining independence to ensure activities remain within bp’s risk appetite and Trading & Shipping (T&S) Operating Standards. The position leads the delivery of market risk insight, P&L governance, valuation integrity, working capital analytics, and control frameworks, while driving continuous improvement, standardization, and talent development. The role reports to the Head of Commodity Risk (Power) and will have direct people management and leadership responsibilities.

Requirements

• Significant experience in the commodity trading environment.
• Market risk, product control, or trading analytics, with deep Power market exposure.
• Proven experience overseeing physical and financial derivatives valuation, complex structures, and option products.
• Strong understanding of end-to-end trading lifecycle, ETRMs, valuation models, and control environments.
• Proven ability to lead teams, influence senior colleagues, and provide constructive challenge to front office leadership.
• Ability to articulate complex financial and risk concepts clearly to senior executives and non-technical audiences.
• Strong commercial competence with the confidence to balance independent risk oversight and business enablement.
• Advanced proficiency in MS Excel; strong analytical and problem-solving capability.
• Excellent communication, judgment, and decision-making skills in fast-paced, high-stakes environments.
• Bachelor’s degree or equivalent experience in Finance, Accounting, Economics, Engineering, or related subject area (Master’s preferred).

Nice To Haves

• Prior experience in Product Control, Market Risk, or Middle Office leadership roles.
• Strong experience with Power BI or similar analytics platforms.
• Hands-on experience with ETRMs such as Endur or Epsilon.
• Deep knowledge of physical power markets, load, congestion, HRCOs, revenue puts, and structured power products.
• Professional qualifications such as CFA, CPA, ERP, MBA.
• Experience operating within global matrix organizations and leading cross-regional initiatives.

Responsibilities

• Provide senior leadership for Power commodity market risk management, ensuring alignment with bp’s risk appetite, trading strategy, and commercial objectives.
• Act as a strategic thought partner to Power Trading leadership, influencing portfolio strategy, capital deployment, and risk-return optimization.
• Lead and mentor Commodity Risk analysts/managers, setting performance expectations, developing talent, and fostering a strong risk culture.
• Represent Power Commodity Risk in senior leadership forums, risk committees, and governance reviews.
• Own and oversee MTM, exposure, Greeks, P&L, and valuation governance across physical and financial Power portfolios.
• Ensure robust and transparent valuation methodologies for complex structures, options, HRCOs, revenue puts, load-following products, and tailored deals.
• Provide independent challenge to trading activity, deal structures, and new products to ensure compliance with approved strategies and controls.
• Translate complex deal economics into clear executive-level insights, highlighting market, liquidity, operational, and model risks.
• Deliver high-quality, decision-grade reporting and analytics covering market risk, gross margin, cash, liquidity, and working capital.
• Drive development of advanced tools, dashboards, and metrics (e.g., Power BI) to enhance transparency and foresight into portfolio performance.
• Provide forward-looking risk and scenario analysis to support stress testing, planning, and capital efficiency discussions.
• Own and continuously enhance front-to-end control frameworks across the transaction lifecycle, ensuring financial integrity and regulatory compliance.
• Oversee and govern month-end and quarter-end close processes, partnering with GPTA Finance leadership to deliver timely, accurate results.
• Ensure consistent application of global standards, policies, and control processes across regions.
• Lead audits, assurance reviews, and regulatory interactions related to Power trading risk and controls.
• Champion process optimization, automation, and standardization initiatives across Commodity Risk and adjacent functions.
• Assess and manage the impact of system, process, or business model changes across trading, risk, finance, and operations.
• Drive continuous improvement in analytical capability, data quality, and control efficiency, ensuring return on investment aligns with Commodity Risk expectations.

Benefits

• We invest in the growth and wellbeing of our people, providing the resources, networks, and development opportunities needed to thrive.
• Our total rewards package includes competitive pay, bonuses, share options, and a range of flexible benefits designed to meet your needs — from healthcare and retirement plans to paid time off and agile working.

What This Job Offers

• Job Type: Full-time
• Career Level: Senior
• Number of Employees: 5,001-10,000 employees