Risk Analyst

Job description / Role

One of the leading Middle Eastern Downstream Operators is looking for Risk Analyst to join their team in Dubai and be involved in risk management of trading operations.

Main responsibilities:
- Manage and operate the software based trading system, create and review contracts, settlements and scheduling. Prepare management reports and analyse various situations arising out of oil trading and supplying operations.
- Monitor, Quantify and report risks associated with open financial positions, trading activities and all deals under consideration for Market risk, Credit risk, Liquidity risk, Security of Supply risk, Operations risk, Legal risk and Regulatory risk.
- Originate daily executive management reports and compiles trading system reports and thereafter, collaborates and reconciles that report with an independently generated statutory report to ensure accuracy of such reportage. Create STP wide reports that can be used for reporting of 'Flash' results to management.
- Review incoming contracts, generate outgoing contracts and monitor the integrity, accuracy and exposure of all trading contracts to ensure that all contracts comply with the policies and procedures set forth by the company, all the way through settlement of contracts.
- Independently scans and schedules physical cargoes in the trading system in accordance with advice received from ESTC & ES front office trade operations and evaluates whether the long/short positions are accurate; and all secondary costs have been accounted for or estimated accurately and potential claims have been recognized and accrued.
- Prepare offers bids and any other contractual documentation in consultation with the Front Office and vets all contract details independently.
- Coordinates with Mid Office Manager in evaluating the overall STP business operations and the adequacy of existing internal systems & controls and on all policy and procedural matters related to the Mid Office function of STP. Communicates effectively within Mid Office- ESTC & ES so as to smoothly execute day-today risk analysis.
- Interacts independently with ESTC & ES Operators, Traders & Back Office to ensure the consistency of the risk mitigation policies thereby ensuring integration of operations that are homogeneous in nature and objective involving external coordination with associated functions situated in diverse geographical locations.
- Independently operates the existing trading system and be capable of troubleshooting the same. Interacts with software providers to enable improvements to the existing system to improve the operating efficiency.
- Monitors approved trading limits across ESTC & ES and ensure compliance on a daily basis and regulates its usage. Daily monitors for any deviations on transactions and follow up with the relevant agency to normalize the deviations. Contribute in identifying and reporting to the Mid Office manager, any operational and system risks that may result in financial losses to the organisation.
- Assist the Mid Office Manager during Government, Internal and Statutory Audits.

Requirements

- Degree holder in any discipline or equivalent qualification.
- Minimum 5-6 years relevant working experience in an oil trading or petroleum related product environment.
- Knowledge on oil trading and oil operations.
- Computer skills.
- Familiarity with all control systems in a computerized environment.
- Numerically inclined, analytical, decisive and discerning.
- Adequate knowledge of risk management theories and techniques and a willingness to continuously update the latest methodologies.
- Proactive, self-driven, resourceful, analytical with a keen eye for details and an ability to work both independently and as a team member.
- Knowledge of various corporate and general commercial agreements will be advantageous.

About the Company

WTS Energy is the leading Consultant/Manpower Supply company to the International Oil, Gas an Energy industry. We supply Consultants to the Projects and Operations of our Clients. We also perform Outsourcing Services like Project Recruitment Campaigns and Workforce Management in Oil and Gas regions around the world.

We operate globally with offices in 12 countries, supplying the International Oil, Gas and Energy industry with professional personnel.

We offer hands-on support to our consultants in every region in which they work. We provide the best people to Upstream, Midstream and Downstream projects and operations. We serve our Clients and Consultants based on trust, high ethical standards and consistent quality of service.