Risk Analyst London 2023

Together we can fuel the future.

Phillips 66 has more than 140 years of experience in providing the energy that enables people to dream bigger and go farther, faster. We are committed to improving lives, and that is our promise to our employees and our communities. We are sustained by the backgrounds and experiences of our diverse teams, which reflect who we are, the environment we create and how we work together.

Our company is built on values of safety, honor and commitment. We call our cultural mindset Our Energy in Action, which we define through four simple, intuitive behaviors: We work for the greater good, create an environment of trust, seek different perspectives and achieve excellence. Phillips 66 was recognized by Forbes as one of “America’s Best Employers” in 2021.

Basic function

Phillips 66 EAME Commercial group is actively involved in the trading of crude oils and refined products in the UK and Europe as well as a range of paper derivative products such as swaps, futures and options. The Risk Analyst (RA) will be expected to work closely with the trading teams and other RAs on the desk to develop an understanding of the portfolios managed by the traders, and to ensure that exposure and daily mark-to-market reporting are accurate, timely and informative.

This key role is aimed at supporting the control activities on each desk including calculating an independent view of exposure and supporting daily profit and loss generation when required, and will provide the Risk Analyst with a detailed understanding of the businesses undertaken by EAME Commercial. The role should also provide an opportunity to learn and develop skills in the identification, assessment and implementation of risk management techniques and strategies.

It will also include assisting with finessing processes associated with SAP, the Risk system of record, to ensure smooth and efficient daily processing. New hire/entry level professional/exempt role; Generally reports to an M2 or higher people leader and work is closely supervised; Makes decisions within well defined practices and procedures and receives functional and organizational training.

Primary accountabilities/responsibilities

• Understanding the deal life cycle and keeping track of deals through systems to ensure the accuracy of exposure, VaR and P&L reporting.
• Building strong relationships with the trading and operations teams and developing the role into a recognised advisory resource for the business.
• Enhancing risk monitoring and evaluation tools for the physical business.
• Leverage knowledge gained to deliver value-add analyses to the business.
• Ensure timely and accurate reporting of exposure from first principles data and profit and loss from systems of record.
• Ensure accurate base data in system of record including prices and volumes of trade.
• Liaise closely with traders, operators, finance and other RAs to ensure smooth transitions between back/middle and front offices.
• Seek to automate manual tasks and seek process improvements to allow earlier production of daily information and improved reconciliations to earnings.

About you

• Hold the legal right to live and work in the UK on a permanent basis without restrictions, or meet the relevant criteria for employer sponsorship.
• Knowledge and experience of commodity trading including swaps and other derivative products would be an advantage.
• Excellent spreadsheet capability in MS Excel
• Strong mathematical skills particularly in terms of analysis of complex data to be able to draw clear and accurate solutions.
• Team-working: ability to work in a dynamic small team and be able to provide cover for the other team members.
• Knowledge of SAP would be advantageous

Phillips 66 has significant marketing operations in Europe. In the UK the business is primarily wholesale, selling fuels to distributors (some of whom are branded JET) and resellers. The fuels are either collected by customers or delivered through a contracted road tanker fleet operating out of a number of UK distribution points. In addition, Phillips 66 Limited supplies a network of approximately 330 independently owned petrol forecourts, all of which are branded JET.

Other markets served are aviation, marine and LPG. JET supplies some of the UK's growing secondary airports using owned and shared refuelling tankers and storage, and delivers to airlines through contracted refuelling operations. Marine markets are served using contracted vehicles, as is the LPG business.

To be considered

In order to be considered for this position you must complete the entire application process, which includes answering all prescreening questions and providing your eSignature on or before the requisition closing date of Friday 25th August.

Phillips 66 is an Equal Opportunity Employer.