Risk Officer, Base Metals

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Contract Type:

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Job Description:

The Risk Officer, Base Metals is a member of the Risk team, reporting to the EMEA Risk Team Lead. He/She is responsible for leading research and analysis, delivering reports, and high-quality digital tools to improve decision making and risk management of base metals desk.

Main Responsilibities

• Daily reporting of P&L, exposures, VaR and explanation thereof.

• Manage daily checks on, trade capture, trade integrity and completeness between desks and trading system.

• Monitor forward curves and volatilities for accuracy and consistency.

• Provide analytical support to the traders on base metals.

• Check and assist in capturing and evaluating the risk of complex products.

• Apply risk-reserving methodology to trading P&L.

• Responsible for monthly translation into accounting of trading results.

• Month end and year end reconciliations with finance and external auditors as required.

• Improve existing and develop new daily procedures for management reporting, trade completeness, market data and other such processes as required. 

• Liaise closely with IT, Operations, Credit Risk, Finance, and Front Office.

• Prepare various reports and analysis for publishing internally and to the Management Board as the case may be.

Base metals MO should have below additional specific knowledge:

For physical:

• London Metals Exchange (LME) pricing mechanics: LME 3M, LME Cash, LME 3rd Wed (monthly settlement) and daily rings (for diff metals), and potentially corresponding knowledge of exchange CME and SHFE.

• MtM valuations according to time spreads and arbitrages locked (i.e. LME vs SHFE)

• MtM valuations of various grades of diff metals, quantify and sense check the discounts or premiums.

• Cost accruals reconciliation according to the delivery locations, spreads locked and freight market.

• Term contracts and allocation with spot deals

• Exchange delivery and warrant trading.

• solid understanding of the “repos” physical deals (“repurchase deals”) i.e in substance a loan using base metals as collateral or genuine buy/sell trades. 

For paper:

• Familiar with various granularity and expiry of the liquid paper contracts (LME 3M, Cash, daily and monthly; SHFE monthly; CME monthly)

• FX hedging if material quantity done on SHFE

• Sense check liquidity risk of long dated contracts (i.e. 1 year forward contract).

Profile

• University degree, preferably in Computing, Mathematics, Engineering, Economics or Finance.

• Mastery of analytics tools and technologies.

• Minimum 3 years in a similar role in the commodity trading business, preferably within a major trading house, an oil major, an investment bank or a hedge fund.

• Very good knowledge of Excel and VBA.

• Good knowledge of Access and SQL Server

• Fluent in English, both written and spoken, French is a plus.

• Curious and Proactive

• Eager to learn and ability to work with limited supervision.

• Rigorous and meticulous

• Strong communication skills 

• Highly numerate

• Strong team spirit.

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If you think the open position you see is right for you, we encourage you to apply!

Our people make all the difference in our success.