Product Control Manager
Job title: Product Control Manager – Global Distillates London
Business unit: Finance, Oil
Location : London
Travel required : Negligible travel
About us: Our business is the exploration, production, refining, trading and distribution of energy.
Our Trading division is the groups face to the traded markets for us in oil, gas, power, chemicals and finance. Our role is to enhance Group value through distinctive supply, commodity trading, risk management and information technology skills underpinned by a world class finance, control and compliance infrastructure.
Role synopsis: Product Control is a top performing function with Finance containing 250 highly skilled professionals globally distributed alongside the commercial trading activity. It operates in support of our strategic objectives, helping it to achieve its aim of being the world's pre-eminent energy trader, in a controlled and compliant way. The successful candidate must embrace the opportunity to work within a performance driven, progressive organisation which, while actively embraces the demands and challenges of a complex and dynamic business, it equally embraces the provision of an effective control environment which is a fundamental piece of the licence to operate.
The role of Product Control Manager, Distillates is accountable to the Regional Head of Product Control and is the senior Product Control member of staff for the Distillates business in the region.
Key accountabilities: The role is a key leadership and control position and responsible for the activities conducted within the London Distillates portfolio and acts as the Single Point of Accountability to the trading bench. The post holder also has an active role in representing London in the global Distillates team and helping to drive the global agenda for the commodity.
Strategic Accountabilities include:
- Providing strategic leadership and disciplined regional execution of the global Product Control strategic and tactical agendas in the Distillates portfolio;
- Relentless focus on ensuring that the Product Control function operates in accordance with established governance and operating processes;
- Drive the Product Control function forward in providing strategic leadership and building differentiated capability in assessing the quality of returns being made across the trading portfolio, to enable the business to make choices and understand the distinctive value of trading strategies;
- Provide strategic insight to all business growth and origination activity. Build capability within the Distillates Product Control community to provide appropriate challenge to new activity;
- Developing strategic relationships with key local stakeholders in the Front Office, with Risk, Compliance and other Finance Functions. Strengthen highly functional working relationships with peers within the global Product Control Distillates team;
- Actively manage regional development and succession plans and continually work to ensure the right sizing of the team.
- Championing the Product Control continuous improvement agenda and nurture an environment where the regional Product Control teams are comfortable in speaking up with any concerns;
Operational Accountabilities:
- Ensure compliance with and monitoring of appropriate Group/Trading policies, operating standards and control processes
- Assuring that market exposure and PL has been identified and measured in the System of Record on a daily basis, in accordance with the Mark to Market Operating Standard Control Process;
- Ensure Product Control are independent and unbiased and must have adequate knowledge in order to provide Management with impartial information regarding the financial position of Trading.
- Analysis and explanation of daily exposure and PL information , in addition to providing relevant information to enable trade and book level analysis.
- Monitor and report boundary breaches in accordance with applicable Operating Standards and Control Processes, e.g. exceptions to trading Delegations of Authorities (DoAs).
- Provide evidence that prices used in generation of Price Curves are appropriate.
- Ensure appropriate due diligence around month end and quarterly close, including assurance that the MI ties to the accounts.
Essential Education: Bachelor Degree
Essential experience and job requirements:
- Proven performer in high profile, global organisation; Experience in Oil Commodities Product Control.
- Experience of providing strategic leadership in Finance Risk and/or Control function;
- Proven ability to deploy variety of communication styles to engage with stakeholders and peers; experience of dealing with Finance and Commercial Executives;
- Understanding of Change Management and experience in delivering significant change agenda;
- Strong appreciation of commercial modelling/valuation/risk identification and mitigation techniques and integration of new business activity.
- Knowledge of the front to back Deal Life cycle, the role of Product Control through this cycle and the applications employed
Desirable criteria qualifications:
- Finance/Business (or similar) Degree and/or recognised professional qualification;
- Formally recognized accounting qualification (ACA, CPA etc)
- MBA, FRM, CFA or MFE
- Understanding of Market and Credit Risk functions
- Some experience of New Activity Integration
Leave a Reply
You must be logged in to post a comment.