Job Description
JOB TITLE:
Commodity Derivatives Trader
DEPARTMENT:
ITRM
REPORTS TO:
Head Risk Management
REPORTEES:
None
Responsibilities:
Area Key Activities
Functional Analyze, Plan and Execute Commodity Derivative trades
• Monitor, analyze, review market intelligence in the paper market for crude, products and freight and undertake detailed
i. fundamental
ii. technical and
iii. statistical research related to market opportunities;
• Provide market intelligence basis analysis to other functions for carrying out procurement or sale of crude oil and products besides working on execution of trades as per mandate.
• Participate in internal discussions/ meetings to discuss trading strategy
• Suggest potential hedging/trading strategies and its pros and cons given the hedging mandate
• Develop a view of positions (current and potential) and identify opportunities to hedge optimally; Develop proposals for paper trades;
• Evaluate trades pre and post deal execution;
• Execute trades in crude, products and freight markets; Ensure trades are within the limits, as prescribed by the Risk Management Committee and comply with all existing regulations
• Capture trade information within the TRM system
• Liaise with Mid Office for authorizing new products for trading
• Identify counterparties and brokers for trading in the OTC paper market and prepare proposals for counterparty registration; Build and develop strong counterparty and broker relationships;
• Liaise with Mid Office for ISDA negotiations
• Ensure timely pricing inputs for Linear Programming.
• Develop periodic MIS reports for senior management •
Skills and Competencies Required
Professional/Behavioural/ Personal
• Strong Communication, research & report writing skills
• Ability to negotiate
• Good judgment, remain objective and unbiased
• Financial acumen, numeracy skills – interpretation of data and determining types of analysis
Industry Related
• Understanding of Regulatory provisions related with commodity trading and hedging
• Understanding of the Regulatory aspects of the Indian Oil & Gas, shipping industry
• Strong Knowledge of the international crude, shipping and product markets
Functional
• Deep Understanding and Strong Knowledge of
• Risk management theories, models & techniques
• Markets, trading & counterparty activities
• Future markets, developments and opportunities
• Petroleum products, trade instruments and exposures
• Energy Trade and Risk Management systems
• ISDA provisions
• Ability to interpret forecasts and analyse market prices and assessments including technical analysis
• Operating and functional knowledge of SAP and tools for analysis
• Knowledge about Indian oil pricing methodology
• Expert knowledge of Excel functions
• Qualifications –
• Graduate in economics, commerce, statistics, mathematics
• Professional degree such as CA, CFA, Engineering would be an advantage
•