Senior Manager Commodity Risk (Power)

BP • Houston, TX

27d • 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

• 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.
• We invest in the growth and wellbeing of our people, providing the resources, networks, and development opportunities needed to thrive.

What This Job Offers

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