GAZPROM Germania GmbH is a subsidiary of the world’s largest natural gas producer, Gazprom. Since its establishment in 1990, GAZPROM Germania has developed into an internationally operating group of 44 companies in 15 countries in Europe and Asia. Its main business activities include the storage and trading of natural gas. It employs approximately 1,800 employees, around 200 of whom work at its Berlin headquarters. Together with its strategic partners, GAZPROM Germania Group helps ensure a reliable, environmentally-friendly, and sustainable energy supply for Europe. Gazprom Marketing & Trading (GM&T) is an integral part of the GAZPROM Germania Group. Headquartered in London, GM&T operates to provide a global marketing reach, round the clock operational coverage and excellent customer service. Established in 1999, GM&T has grown from a single office in London into a truly global organisation, with around 1000 employees worldwide. With offices in Europe, Asia and the USA, GM&T trades energy commodities including gas, power, oil, LPG, helium, emissions, LNG and FX. Our culture is defined by our people. Through living our values every day we continue to create a culture that enables us all to succeed. We work as one team with our customers, our parent company and each other in order to understand each other’s needs. With an unstoppable passion for excellence, growth and learning, we’re committed to creating an environment that fosters the development of knowledge, skills and experience, so that our people can thrive and prosper in their careers with us. We believe that we have the best team in the industry which makes us a trusted partner across international capital and energy markets. Our diverse employee base, with a wealth of expertise, knowledge and experience makes GM&T a truly exciting place to work. We encourage new ideas and initiatives as innovative thinking is central to how we do business. Most importantly, we are a growing and developing business where inspired individuals can make a difference and help shape our future.
Supporting GM&T’s continued growth in commodity and derivatives trading, GM&T’s Global Risk Management team is looking for a highly motivated, analytically minded individual to join its Product Control team on a permanent basis. The role offers the opportunity to learn both about the commodities and markets GM&T trades, as well as the contract structures and derivatives executed within them. Further, the individual will learn how these positions are valued in GM&T’s middle office economic and IFRS compliant reporting frameworks, as well as how changes in this value are explained and attributed to a number of market factors and trade level changes.
Duties & Responsibilities
• Preparation of the daily economic and monthly IFRS compliant P&L, coupled with financial exposure reporting, primarily focused on the Natural Gas business units, but with cross-commodity exposure.
• Ensuring that all daily P&L movements are understood and documented, fully attributing daily P&L change to new deals, movements in market curves and basis spreads, coupled with volumetric and other transaction updates.
• Maintaining and articulating an understanding of each books profit and loss across the month, as well as the strategies, contracts and derivatives traded to achieve it, along with attribution of Economic vs IFRS valuation differences.
• Independent Price Verification (IPV) of forward valuation curves and volatility surfaces against 3rd party published sources.
• Provide support and assistance on strategies including swing, storage, interconnectors and more complex option structures.
• Working closely and effectively with the Front Office, Risk Functions, Finance and IT on Operational Readiness projects, ensuring new products, derivatives and contract structures can be successfully integrated into GM&T’s Middle office.
• Continuous drive to improve the control environment within the team.
Skills & Competencies
• Strong analytical skills (e.g. ability to understand impact of market changes on P&Ls, as well as economic events in the lifecycle of a deal)
• Understanding of derivatives is a necessity
• Able to work effectively in a fast moving, changing environment
• Highly motivated and proactive individual and team player
• Able to manage sometimes differing priorities of multiple parties
• Communication and influencing skills
• Strong business partnership skills
• Prior knowledge and exposure to commodity trading. Previous experience of Natural Gas storage and option structures preferred but not essential.
• Trading deal lifecycle experience, whether directly involved in a front, middle or back office/financial reporting role, or as a business or process analyst.
• Proficiency in Microsoft Excel is a necessity
• Degree level education in a numerate or financial discipline required (or equivalent experience).