Senior System Trader
Execute trading activities of Refined Products required by ADNOC Global Trading. Oversee Refined products trading to optimize AGT assets and globally manage AGT’s exposure to flat price volatility/ arbitrage/ geographical and time spreads.
Conduct the regular health check for the portfolio exposure within agreed trading limits and aim to maximize the profit from AGT flow and trading operations.
Job Specific Accountabilities
- Monitor markets and existing Refined Products positions to capitalize on market trends and proactively bring new ideas and strategies to AGT by working closely with both internal external stakeholders to initiate efficient and cost-effective hedge solutions and support new asset generation and projects.
- Analyze trends, market profile and competition changes to ensure the trading is ending with up to date knowledge of the market.
- Prepare scenario plans/proposals supported by sufficiently detailed financials and commentary so to ensure Trade targets are reached for the year.
Trading & Hedging Activities
- Trade physical and derivative contracts relevant to AGT activities to mitigate AGT’s exposure and to hedge against risk within the limit of the agreed policies
- Finalize terms and conditions and execute deals within the limit of the agreed policies
- Input transaction detail into CTRM system in accordance with established procedures
- Ensure accuracy of transaction terms (including difference between nominated and confirmed volumes) in the CTRM system
- Provide analytical support to management in all risk management decisions and liaise with all hedging liquidity providers such as banks, funds, publications, platforms, exchanges, etc. who can provide liquidity and execute hedging positions on the forward curve to effectively measure and control any risk in the operation and ensure integrity and consistency.
- Understand risk assessment methods and measures and determine the relevance and consistency of the assumptions used to support analysis, considering the Company’s risk.
- Review existing trades and recommendation of relative value opportunities for both existing and new programs.
- Provide market and commercial input to Commodity Marketing’s view on Refined Products in the dynamic market.
- Plan Refined Products trading strategies that will optimize value of assets, flows, and transportation contracts. Mitigate the group’s exposure to abrupt pricing changes.
- Provide daily report based on defined Management Information System by product, index and to the end maturity of every relevant position.
- Interface with Upstream group entities to support their supply offtake and optimization requirement and service those counterparties by mitigating exposure to markets and alert them on market changes potentially affecting operations.
- Liaise with physical traders and asset managers on market trends, optimization opportunities, and optimal use of discretionary physical inventory.
- Maintain accountability for inventory gains or loses attributed to volumetric and price fluctuations.
- Provide the monthly results and explain to the Global Book Lead why variations took place when compared to the budget.
- Check trades at end of day for errors and correct as required, working with the Contract Administration Analyst to resolve confirmation errors on a timely basis
- Escalate new counter party requests to the Quantitative Credit Specialist
- Keep up to date on counterparty performance by reviewing reports from Credit Manager and/or Treasury Specialist
- Co-ordinate with Finance and Administration to provide information / data when required for Back Office procedures.
- Market reports as requested
- Business cases, as necessary
- Business plans, performance targets
- Persuasive and organized, clear when delivering oral and written presentations, shares knowledge, articulates rationale of the position and ensures understanding
- Bring others to agreement on contract details, achieve optimal contract terms, understand compromise and use commercial dispute resolution
- Take initiative, spot trends, call the market, seize the moment and act, have tolerance for taking calculated risk and see the possibilities beyond the obvious
- Align actions to promote achievement of team goals, influence others’ activities toward group goals, place high priority on team performance, help others be successful, resolve conflicts and remove obstacles
- High self-esteem, composed under pressure, resilient
- Forward thinking in the context of the big picture, drives change, anticipates the needs of key customers and the organization
- Ability to learn, use and is proficient with trading systems and supporting software e.g. Excel
- Analyze and synthesize multiple data inputs rapidly and quickly adapts to changing situations
Driven to win
- Take initiative and use competitiveness as energy to win
- Recognize and separate good information from all the information available
- Believe strongly in market opportunity, innovative, accept uncertainty, learn from failures and move on quickly and is passionate about trading
- Combine pieces of information to form a view or reach conclusions, see relationships among seemingly unrelated events and put them together to take a position
- Understand and comfortably manages risk and reward inherent in operations, view exposure as an opportunity rather than a problem
- Ethical and honest, high integrity and trustworthy
COMMUNICATIONS & WORKING RELATIONSHIPS:
- All internal functions
- Senior Management
- Government Authorities
QUALIFICATIONS, EXPERIENCE, KNOWLEDGE & SKILLS:
- Bachelor degree, Science, Engineering or Economics preferred
Minimum Experience & Knowledge & Skills
- Minimum 10 years of experience, including at least 4 years in Oil & Gas field trading market
- Well informed of the world product demand and supply, market dynamics, and arbitrage opportunities
- Well connected with end-users worldwide
- Industry knowledge -supply/demand fundamentals of physical market, product grades and quality specifications, refining systems, transportation and pipeline infrastructure and products carried, competitors, marine operations, third-party system parameters, standard terms and conditions of contracts, displays knowledge of the global energy business, refinery economics/drivers, understands the value of variations in specification, timing, and volume
- Commodities Trading knowledge – market direction/call, trading strategies, trading fundamentals, global markets, arbitrage, market climate, keeps up to date with international events and geo-political climate
Financial trading knowledge – risk analysis techniques, hedging/speculative/ price forecasting instruments, such as, derivatives, futures, options, OTC, and various credit instruments, economic evaluation and analysis, understands concepts such as NPV, value creation, and option value