BPNew York, NY3M ago

IST’s North America Gas & Power (NAGP) business is a material, dynamic and growing enterprise and is recognized as a leading marketer and trader of gas and power in North America.

The Structuring and Commercial Development teams within NAGP are responsible for providing the expert resources necessary to develop and deliver the business strategy and growth agenda. The growth agenda of the business is delivered through creative marketing and origination activities, as well as access to assets.

This role is primarily responsible for providing analytical and structuring support to the Power trading and origination platforms.

Key accountabilities:

1. Derivative valuation

  • Design and improve valuation models and techniques
  • Maintain knowledge of industry standard models and methods
  • Stay up to date on in-house model development and valuation approaches
  • Understand model’s strengths and limitations
  • Communicate valuation results to front office teams to gain buy-in
  • Bild summary financial data that clearly communicates the results of the modelled analysis to the various assurance functions
  • Work closely with the wider IST Trading Analytics Center of Excellence, specifically the Global Quantitative Analysis Teams, understanding and contributing to latest tool development and ensuring the appropriate models are used in valuations

2. Structured power and cross commodity product valuations

  • Propose products to originators that change with opportunities in the energy marketplace
  • Break down structured transactions into basic components
  • Calibrate models and value deals
  • Develop approaches to value/assess non-standard or non-market risks imbedded in transactions on the go
  • Assist mid and back office personnel in understanding of proposed deals and develop a collaborative relationship around the booking/modelling of live deals within the risk systems
  • Work closely with treasury to ensure deal structures are compliant

3. Position risk analysis and measurement

  • Quantify market risk and propose hedging strategies
  • Work with relevant parties on a consulting basis to identify non-market risks, assist in quantifying them and propose remedies if available
  • Work closely with credit risk and market risk to ensure risks are modelled and communicated appropriately

4. Design and conduct research studies

  • Analyse data to support/advance the trade floor capabilities in the above tasks
  • Report information as needed to various teams

Essential Education:

Bachelor’s degree in Economics, Statistics, Engineering, Applied Mathematics or related fields

Essential experience and job requirements:

  • In-depth understanding of quantitative modelling, structuring, risk management techniques and discounted cash flow analysis
  • Experience in applying quantitative techniques to the valuation and management of power physical assets and derivatives
  • Skilled in statistical analysis, including univariate and multivariate modelling, optimization, forecasting, market and portfolio risk modelling, and option theory
  • Ability to work in a high-pressure, competitive environment with minimal supervision
  • Excellent verbal and written communication skillsStrong commercial focus

Other Requirements (e.g. Travel, Location):

There are no additional requirements. Please respond with N/A below.

Desirable criteria & qualifications:

  • Advanced degree in a quantitative area or Business is preferred (MS/PhD/MBA a plus)
  • In depth understanding of option pricing theory and risk management techniques
  • Practical experience in valuation of oil, natural gas and power physical assets, and structured transactions, such as pipelines, storage, power plants, and exotic options
  • Experience in other commodity structured transactions, such as gas transport and storage and exotic options

About BP:

We are a global energy business involved in every aspect of the energy system. We have 75,000 employees in 80 countries, working towards delivering light, heat and mobility to millions of people, every day. We are one of the very few companies equipped to solve some of the big complex challenges that matter for the future. We have a real contribution to make to the world's ambition of a low carbon future. Join us, and be part of what we can accomplish together.

Energy marketing and trading offers customers a unique combination of physical expertise, financial structures, geographic scope and creative solutions.


If you are selected for a position in the United States, your employment will be contingent upon submission to and successful completion of a post-offer/pre-placement drug test (and alcohol screening/medical examination if required by the role) as well as pre-placement verification of the information and qualifications provided during the selection process. The drug screen requires a hair test for which BP must be able to obtain a sufficient hair sample for analysis (~4 cm/1 ½” scalp, or > 2 cm/¾” body – arms & armpits/legs/chest)

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Eligibility Requirements

If you are applying for a position in the United States, you must be at least 18 years of age, legally authorized to work in the United States; and not require sponsorship for employment visa status (e.g., TN, H1B status), now or in the future.