ADNOC Global Trading LTD (“AGT”) seeks an ambitious, motivated, Specialist, Market Risk to join its Middle Office team in Abu Dhabi.

AGT

Incorporated in the Abu Dhabi Global Market, Abu Dhabi’s international financial centre, AGT commenced commercial operations in December 2020. It is owned by ADNOC (65%), Eni (20%) and OMV (15%). Head quartered in Abu Dhabi, it has ambitious plans for global growth. AGT has already established a subsidiary in Singapore which commenced operations this year, and expects to open in Europe and the US in the near future.

AGT’s business is focused on the physical trading of crude oil, condensate, liquid feedstock and refined oil products, risk management activities (including hedging), shipping and chartering, storage and management of inventories, the trading of oil related derivatives and other ancilliary activities.

JOB PURPOSE:

ADNOC Global Trading’s (AGT) Market Risk Specialist is to support the Market Risk Manager and Vice President of Market Risk in ensuring all trading desks relevant market risk factors are identified and captured in the risk systems. The Market Risk Specialist also produce a daily P&L, P&L explain and position report, monitors the VaR and reports all risks up through Market risk and to the desk. The Market Risk Specialist is key in ensuring Market Risk achieve its objective of no surprise losses from market moves.

Job Specific Accountabilities

General

• Support the management and direction of market risk management functions within a Product Area or several Product Areas.
• Support in working with trading desk to ensure that all relevant market risk factors are properly identified and formally captured in official risk systems. Work closely with Traders to quantify and explain the sources of risk in their portfolios
• Produce required daily market risk reports. Analyze, understand and comment the variations of the different risk indicators on a daily basis, provide comments on main P&L and risk evolutions as well as any noticeable events on regular basis.
• Support initiatives to support the development and maintenance of the Organizational Risk Appetite framework and assist in maintaining an appropriate autonomous market risk limits framework with applicable triggers
• Support to monitor business compliance with the firm’s market risk-related policies
• Support to oversee risk exposure measurement and limit monitoring processes to ensure integrity and appropriate independence of reporting
• Participate in the development of business-level stress testing that properly considers risk concentrations; review results and assess appropriate follow-up actions
• Participate in the ongoing development, implementation and upgrade of risk systems including VaR, Limit monitoring systems, stress systems etc.
• Validate day accuracy of daily P&L and coordinate with relevant stake holders for rectifying any errors / outliers
• Active management of day to day issues and queries from internal/external parties with escalations as necessary
• Manage the wider team when required to do so, cover team in team managers absence
• Consolidate ‘Day Changes’ & Exposure reports being generated from various trading centers for various commodities being traded
• Implement continuous improvement projects to improve efficiency through process re-engineering and automation.

Interfaces

• Contribute to the reporting of Trading Result/ Position to Senior management. Work closely with Back Office, Finance, Credit, Legal & Compliance, Business Unit Control to ensure best control practices, operational efficiency and policy/limit compliance.
• Coordinate with stake holders and Compliance for timely reporting of incidents and its redressal
• Assist Manager integrated reporting & Projects in Consolidation of positions and exposure across desks & portfolio
• Work with finance and accounting teams to ensure timely accounting releases and reconciliations between views
• Support implementation of business continuity readiness initiatives

QUALIFICATIONS, EXPERIENCE, KNOWLEDGE & SKILLS:

Minimum Qualification:

• Bachelor’s degree in Business, Science, Engineering or Finance. MBA preferred.

Minimum Experience & Knowledge & Skills

• 2+ years experience in Risk Management within a Middle Office
• Experienced in building and using models
• Well informed of world product demand and supply, market dynamics
• Industry knowledge - supply/demand fundamentals of physical market, product grades and quality specs, refining systems, transportation and pipeline infrastructure and products carried, competitors, marine operations, third-party system parameters, standard terms and conditions of contracts, displays knowledge of the global energy business, refinery economics/drivers, understands the value of variations in specification, timing, and volume
• Commodities trading knowledge - understand trading strategies, basic knowledge of trading fundamentals, global markets, arbitrage, market climate, keeps up to date with international events and geo-political climate
• Risk knowledge - risk management methodologies including stress testing and VaR measurement, risk analysis techniques, proficiency in fundamental credit analysis with an emphasis on financial statements and current trends impacting business issues
• Financial knowledge - hedging/speculative/ price forecasting instruments, such as, derivatives, futures, options, OTC swaps, and various credit instruments, economic evaluation and analysis, understands concepts such as NPV, value creation, and option value.
• Experience with digital tools such as PowerBI, Power Automate, Robotics is desired.
• Experience with Openlink/Endur ETRM is a plus.