Senior Expert - Hedging & Market Intelligence

Job description / Role

This role is mandated to protect the commercial interests of Orpic through hedging instruments, and provide market intelligence to enhance the quality of price projections and also to ensure that adequate value is being retained within Orpic.

Deep dive in assessing local demand, monitoring deal sheets and commercial terms of sales, exploring risk mitigation opportunities for Orpic are expected in this role. This is a leadership role calling for thought leadership and coaching of other staff to enhance the business acumen within Orpic.

KEY ACCOUNTABILITIES:

Deliverables:
- Conceptualise, benchmark and perform data analytics to formulate hedging and risk management strategies in Orpic.
- Prepare, update and suggest changes / improvements on a continuous basis to the hedging policy for Orpic and facilitate hedging practices within Orpic.
- Provide thought leadership in the realm of hedging and market intelligence within Orpic.
- Assess the deal sheets, provide a market analysis on every deal to recommend decisions that need to be taken by SCM Management.
- Develop and maintain relationships with outside sources of information
- Prepare and present market competitive analysis reports to all levels of management.
- Research and collate ‘fundamental truths’ in the economy to help Orpic leadership determine key economic levers and develop a point of view.
- Manage the contractual relationships with OTI and suppliers and service suppliers, including drafting and agreeing contracts with them, reviewing services agreements, to ensure targets are met within agreed timelines
- Assess local demand by researching and analysing actual basic economic indicators to ensure local demand for products is met.
- Manage proactively the reporting of market data to stakeholders as and when required so that they receive the most up to date information and facilitate decision making
- Identifying, prioritising, managing and meeting a range of reporting requirements across Orpic,
- Collect and maintain data in strategic sourcing data warehouses for meeting the reporting requirements of the Management in order to make informed decisions.
- Ensures that the department meets expectations set out in the Corporate KPIs, Function KPIs and Department KPIs applicable to the department.
- Contribute to and assist in presentations and materials development for internal and external audiences
- Benchmarking of Orpic market intelligence and hedging performance against industry standards and synthesize findings.
- Personal work on feasibility studies on new projects or business improvements leading to prioritization and ranking of development and improvement projects.
- Maintain a decision support system within SCM to organise information in order to provide insights for Management decision making.
- Critically evaluating information gathered from multiple sources, and systems reconciling consistency conflicts, de-composing high-level information into details, abstracting up from low-level information to a general understanding to finally provide insights into the real issues the business is facing and recommend action plan to the functions to address such issues.

Strategy
- Contribute in the development and execution of the Supply Chain Management long-term strategic plan in alignment with the function and organisation strategies.
- Contribute in the development of Commercial Planning & Market Intelligence business plans to ensure the achievement of function and organisation financial and strategic objectives.

Leadership
- Lead, coach and guide members of the team to such that this results in a motivated, engaged, high performing and capable team who deliver the department business plan.
- Plan for cross training of team members within the group and also provide dedicated training coaching time for staff in the department to enhance their capability.

Contract and Risk Management
- To formulate and facilitate the development of contracts to manage both long term and short terms supplier relationships and the OTI relationship protecting Orpic’s commercial interests
- To assess risk and devise mitigation measures to reduce the same to reduce commercial risk to Orpic.
- Provide recommendations to the Manager – CPMI and leadership direction to colleagues within Orpic including decisions and take necessary actions that will result in the protecting commercial interests of Orpic.

Requirements

Candidates with no experience in Oil & Gas need not apply.

Due to the expected huge number of applicants, we may not be able to respond to all candidates. If you do not receive a call or an email within 15 days of sending your CV, your application has not been successful.

About the Company

Orpic is one of Oman’s largest and most rapidly growing businesses in the Middle East oil industry. Orpic’s refineries in Suhar and Muscat, as well as the aromatics and polypropylene production plants in Suhar, provide fuel, chemicals, plastics and other petroleum products, to Oman and the world.

Owned by the Government of the Sultanate of Oman and Oman Oil Company SAOC, Orpic’s impressive integration of refinery and plant operations coupled with its ambitious growth plans, has cemented its position as one of the industry’s most forward-thinking companies. The company currently recruits around 2,600 employees who work towards the common goal of an integrated Omani refining and petrochemicals business expected to increase to 3,000 by 2020.

Orpic is committed to operating safely and reliably, while paying due care to the environment and the communities within which it operates. The company strongly believes in serving Oman with pride.