Senior Manager Commodity Risk (Power)

Job Description:

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 .

Key Accountabilities

Leadership & Strategic Oversight

• 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 .

Market Risk, P&L & Valuation Governance

• 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.

Reporting, Analytics & Business Insight

• 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.

Controls, Compliance & Financial Integrity

• 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.

Transformation & Change Leadership

• 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.

Essential Experience

• 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).

Desirable Criteria

• 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.

Why Join Us?

We're committed to supporting leaders who want to make an impact. At bp, you'll have the chance to shape and influence outcomes across businesses. You'll be part of an inclusive environment where diverse perspectives are valued, and where your contribution to performance and integration matters.

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. We recognise that people have multifaceted lives, and we strive to offer a career experience that reflects that.

Apply now!

Travel Requirement
Negligible travel should be expected with this role

Relocation Assistance:
This role is not eligible for relocation

Remote Type:
This position is a hybrid of office/remote working

Skills:
Commercial Acumen, Communication, Influencing, Risk Management

Legal Disclaimer:

We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, sex, gender, gender expression, sexual orientation, age, marital status, socioeconomic status, neurodiversity/neurocognitive functioning, veteran status or disability status. Individuals with an accessibility need may request an adjustment/accommodation related to bp's recruiting process (e.g., accessing the job application, completing required assessments, participating in telephone screenings or interviews, etc.). If you would like to request an adjustment/accommodation related to the recruitment process, please contact us.

If you are selected for a position and depending upon your role, your employment may be contingent upon adherence to local policy. This may include pre-placement drug screening, medical review of physical fitness for the role, and background checks.