(20%) Cross-checking of Trade and Delivery data input into a Commodity Trading Risk Management (“CTRM”) Software system against deal tickets, broker statements, shipping and other documents
(30%) Creating Daily PnL and VaR reports from the CTRM system. Analyze PnL reports to catch errors and, explain substantial daily PnL and VaR changes, work with Front Office traders to understand and interpret the causes for PnL and VaR changes, which cannot be easily understood directly
(15%) Creating Forward Curve data, using Excel or other software, from data obtained from our Traders, OTC Brokers, Exchange settlements, and/or information services such Reuters, Bloomberg and/or other market data provider; analyzing and reconciling Forward Curves with third party curves, catching and correcting mistakes in such Forward Curves, uploading Forward Curve Data to the CTRM system, and maintaining our Forward Curve data base
(15%) Collaborate with IT and other Middle Office Team mainly with Tokyo and Singapore to assist new CTRM implementation including the setup and preparation for MIC’s trading operation if we decide to do so.
(10%) Monitor market risk exposures in line with internal rules considering after Mikoshi, country risk, credit etc., are set.
(5%) Collaborate with all members of the Middle Office Team at Tokyo Headquarters, Singapore, and London, to maintain best-practice methods for risk management worldwide.
(5%) General administration of the CTRM system, such as maintenance and allocation of User IDs, manage system permissions for those User IDs.
Knowledge and Skills
- Solid understanding of Oil Trading, including Incoterms, Formula Pricing, Futures, Forward, and Spot markets, Forward Curves, Price Reporting Agencies such as Platts, Argus, OTC Derivatives, OTC Brokers, Forward Curves, Futures Exchanges such as Nymex, ICE, DME, etc.
- Solid understanding of Risk Management methodology and practices, such Mark-to-Market PnL, VaR, Stress Testing, Flat Price and Basis Risk etc.
- Ability to work well in a diverse cross-cultural organization, and handle a chaotic trading/market environment. Skilled at building an internal network and gathering diverse (market) information
- Self-starter and able to work with minimal or remote supervision.
- Proactive to improve processes and increase efficiency.
- Preferred: Work experience at an International Oil Trading Company is preferred but not required
Relevant Experience and Education
- Bachelor’s degree is required. Major discipline in Economics, Engineering, Finance or Accounting is preferred.
- At least 2 years of hands-on experience in Oil Trading Risk Management
- Business level English, Japanese language skills not required, but beneficial
- Understanding of refinery economics, petroleum markets, business fundamentals and an awareness of current refining industry trends are preferred.