Senior Risk Analyst – Physical Energy Trading

Overview

In this Senior Risk Analyst role, you will own a physical trading book and work closely with Trading, Commercial, Finance and control teams to translate contracts into positions. You will validate and explain daily mark-to-market P&L, and probe economic drivers behind exposures. The role involves challenging valuation methodologies and enhancing controls, with influence over how risk and P&L are analysed and reported. You will operate in a lean environment, understanding the mechanics behind numbers and mentoring less experienced colleagues. This is a hands-on position offering proximity to the business and opportunities to shape the risk function’s development.

Responsibilities

• Own and oversee physical commodity positions and exposures
• Produce, validate and explain daily mark-to-market P&L
• Translate contractual terms into physical and financial exposures
• Review market data, curves and valuation inputs
• Investigate P&L movements, discrepancies and reporting breaks
• Understand interaction between physical transactions and hedging
• Collaborate with Finance on reconciliation and month-end processes
• Challenge existing methodologies and improve controls and reporting
• Support development of systems and processes
• Act as technical reference point and mentor others

Key requirements

• Experience in physical energy or commodity trading, ideally covered markets like refined products or fuels
• Background in Product Control, Deals Desk, Trading Middle Office or Physical Commodity Risk
• Strong practical experience with physical contracts, positions, exposures, hedging and mark-to-market P&L
• Ability to discuss and challenge valuation methodologies
• Strong Excel and analytical skills; ability to explain complex exposures to traders and non-traders

• Analytical mindset
• Attention to detail
• Ability to communicate complex concepts clearly
• Excel (strong), analytical skills
• P&L / Position Control
• Understanding of VaR useful but not required

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