Product Control Manager
JOB RESPONSIBILITIES
- Leading a team of Product Control Analysts (Entrepreneurial Trading Asset Trading), managing priorities and resource requirements. Attracting, developing, performance managing and retaining staff to maintain a consistently high level of expertise within the team; this includes annual performance and development reviews;
- Supporting the growth agenda and ensuring that new business opportunities are assessed appropriately within the businesses risk framework; responsible for managing the new business approval process;
- Encouraging a culture of continuous improvement to increase efficiency and effectiveness of processes and controls;
- Responsible for daily PL (Gross Margin Commercial Performance) processes and timely provision of monthly key performance indicators (KPI's) to enable the business team to understand and manage trading performance, including daily exposure and PL reporting, analysis, limit monitoring and monthly MI (Management Information) to accounts reconciliations;
- Responsible for ensuring that all PL reporting and commentary, including trading costs, on the ET and AT books are meaningful, transparent and timely;
- Providing management information, specifically; monthly commercial performance measures; and, cost analysis;
- Maintaining a good knowledge of market conditions through the use of provided tools; demonstration of current best practices and continuous learning;
- Using knowledge of the book's activities to understand and explain commercial activities and strategies; experience of working with the 'Barrel Model' (refining model);
- Responsible for reviewing and checking daily physical and paper transactions have been posted correctly, are within Trading Delegations of Authority, and also to ensure the hedging is carried out correctly each day;
- Owning the month-end and quarter-end processes, including accountability for ensuring that Product Control outputs are compliant with accounting standards and policies;
- Escalation point for trading limit breaches and other significant financial issues and incidents;
- Mitigation of risk in relation to errors and corrections resulting in incorrect deal entry or hedging where gains and losses can be significant;
- Member of the Risk Control Committee (RCC) per the RCC Charter;
- Working closely with commercial and accounting teams across the ET AT business to ensure that business forecasting is sound and that financial targets are met, particularly with regard to trading activities;
- Influencing the IT system agenda to ensure that all Product Control system needs are met; Risk representative for the ETRM (Energy Trading Risk Management) Steering Committee;
- Liaising with external audit teams on Product Control matters;
- Building and maintaining strong relationships with Front Office, IT, Finance and other Risk teams
Education - Degree, or equivalent, in Finance/Engineering/Mathematics or similar high numeracy discipline
Qualifications - Accounting qualification preferred
Professional Background
- Extensive Product Control refining experience; a deep understanding of trading concepts and exposure and the key controls required to support a trading business;
- Subject Matter Expert in accounting and reporting;
- Previous management experience and a track record of successfully leading and motivating a high performing team; Leadership experience;
- Strong IT skills and aptitude, experience of driving IT system improvements;
- Working experience of asset commercial performance measurement concepts, i.e. 'Barrel Model';
- Able to take, and maintain, an independent approach and challenge where appropriate.
Working Experience
- Minimum 10 years product control experience; additionally you will have held other relevant positions.
Other Requirements
- Strong verbal and written communication skills, ability to communicate complex issues simply;
- Good interpersonal skills and a team player, able to build working relationships within, and across, teams;
- Strong analytical capabilities and high degree of numeracy;
- Commercial awareness.
***Oil Recruitment has been working with some of the world’s leading banks, trading companies, major oil companies and utilities within the energy trading arena since 1998. We work on roles in trading, broking, risk, credit, quantitative analysis, consultancy, shipping, chartering, operations and contract analysis across the upstream and downstream energy markets in crude, oil products, gas, power and carbon.
To learn more about our business and to see details of our other vacancies visit www.oilrecruitment.co.uk.
Leave a Reply
You must be logged in to post a comment.