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Product Control Senior Manager

  • Salary: Competitive
  • Location: Middle East
  • Job type: Permanent
1.JOB PURPOSE

Manages the Product Control Group which is responsible for developing and executing product control processes and methodologies within the Market Risk group. Oversees the production and issuing of product control metrics and reports (Mark-to-Market, daily P/L, realized P/L, volumetric exposure, price exposure, etc.) and reviews daily P/L and position reports. Oversees back testing of P/L and position valuation models. Oversees forward curve methodologies and recommend changes when needed. Oversees trader compliance with volumetric and tenor limits and escalates breaches to the Director of Market Risk and Head of Trading. Interacts regularly with commercial functions to understand open exposures.

2.MINIMUM QUALIFICATIONS/EDUCATION/EXPERIENCE/TRAINING/KNOWLEDGE

Formal Education
Include any specialized education and qualifications needed to do the job.
• Bachelor's Degree in a Quantitative Field (mathematics, economics, finance, engineering)
• MBA or Masters (economics, finance)
• FRM or ERP certification preferred
Work Experience
Clarify the minimum years of total work experience and other relevant work experience required to do the job
• 20+ years of relevant experience in trading risk management or banking of which 5 years is in a supervisory position.
• Experience with energy commodities preferred

3.SKILLS AND KNOWLEDGE

Include any specialized skills or knowledge needed for the job.
• Excellent financial and valuation analysis experience
• Expert knowledge and application of decision analysis, techniques and statistical modelling relating to both market and credit risk control models
• Skilled at developing Product Control metrics and reports (Mark-to-Market, daily P/L, realized P/L, volumetric exposure, price exposure, etc.)
• Skilled in developing and validating market/credit risk control models as well as saturation of limits
• Strong skill set in evaluating hedge efficiency and forward curves management
• Sound understanding of commodity trading business
• Strong analytical skills and knowledge of oil trading financial instruments
• Knowledge of crude, oil products, LPG, and chemicals industry preferred
• Strong knowledge coupled with experiences in implementation of new ETRM system
• Strong awareness of latest market developments
• Strong ability to challenge Front Office on trading strategy assumptions and propose alternate market perspectives
• Skilled at leadership and development
• Excellent verbal and written communication skills
• Exhibits confidence and presence in discussions with senior management
• Attention to details with a strong process execution focus

3.JOB DUTIES AND RESPONSIBILITIES

1.Defines and maintains product control processes and methodologies of the Market Risk group.
2.Oversees production and issuing of product control metrics and reports (Mark-to-Market, daily P/L, realized P/L, volumetric exposure, price exposure, etc.).
3.Oversees daily P/L and position reports.
4.Manages forward curve methodology for Mark-to-Market pricing and back testing on forward curves, and recommends changes in existing methodologies.
5.Interact regularly with commercial functions to understand open exposures.
6.Reviews trader's compliance with volumetric and tenor limits and escalates breaches to Director of Market Risk and Head of Trading.
7.Stays abreast of product control best practices, identifies improvement opportunities, and works to improve the performance of the Market Risk team.
8.Performs analysis as directed by the line manager and generally contribute to the activities of the Market Risk team.
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