704 Market Risk jobs in the United Kingdom

At INEOS Energy, we produce and trade oil, gas, liquefied natural gas (LNG), and carbon credits. This is supported by our investments in low-carbon technologies, which will help sustain our business through the energy transition. Direct examples of these areas are ‘Project Greensand’, our pioneering carbon storage project in the Danish North Sea, and our investment in HydrogenOne Capital.

INEOS Energy Trading operates as the single face to the Gas, LNG, Power, Carbon, and Crude Oil commodity markets for INEOS. Our core mission is to fully monetise INEOS Energy’s equity Oil and Gas production across Europe and the US. Beyond this, the Trading and Business Development teams are tasked with originating and developing third-party physical business.

We also support the wider INEOS group by leveraging our carbon trading capabilities and supplying LNG, Gas, and Power to INEOS’ industrial base.

Our team is on an exciting journey, and we anticipate continued growth across both new commodities and geographies, as the business evolves to support INEOS Energy’s expanding global footprint.

Reporting to the Market Risk Manager, the Market Risk Analyst will independently identify, measure, and report on the level of economic/market risk from new business proposals, material contracts, and trading exposure, to advise the commercial teams on mitigation strategies and risk appetite. This role requires someone to bring a commercially aware and entrepreneurial mindset to the mid-office function to ensure the trading control environment is designed and implemented effectively through robust policies and procedures, and to ensure that such policies and procedures are adhered to.

As the Market Risk Analyst, one of your key responsibilities is to provide daily performance and market risk analysis for the trading business. You will be working closely with traders and other parts of the business. This role offers unparalleled exposure to the entire commodity trading lifecycle, both physical and financial, Risk functions, Finance, Back Office and multiple business units. Immerse yourself in the fast-evolving world of energy trading, particularly in the sustainable LNG market. INEOS Energy is committed to your professional growth, offering a growing vibrant environment that values knowledge, innovation and career advancement.

Responsibilities

• Design and produce key trading risk metrics (VaR, stress testing, skew analysis) and lead the continuous development of these daily processes from both a technical and efficiency perspective (e.g. automation of tasks)
• Evaluate the risk impact of complex trading strategies which may require the use of technical mathematical models, e.g. Black-Scholes models
• Lead the valuation process for long-term deals, accurately capturing the impact of a range of market scenarios to reflect the risk-to-reward ratios of new projects, and identifying the key sensitivities associated with them
• Provide risk analysis in assessing new trading strategies, trading limits, and other business assessment of risk across a range of commodities (crude & refined products, gas, LNG, carbon)
• Lead and/or support systems strategies for the market risk and trade control functions with respect to exposure management and management information systems
• Manage trade control systems where we use Horizon/FEA
• Work closely with the Director of Risk, Market Risk Manager, front office, and finance for effective allocation of trading risk capital (market, credit, cash)
• Bring mark to market principles to the control environment and interface with finance to ensure effective reporting
• Set up any new exposure management or entrepreneurial trading books as required by the business
• Work in a collaborative environment, helping to support trade control and finance business functions where needed, including setting up of new business activities and second line of defence monitoring of technical team outputs

Experience, Education & Skills

• University degree in Economics, Finance and/or related disciplines
• Relevant experience in a market risk role within commodity trading companies or banks
• Familiarity with one or more ETRM systems is an advantage (e.g., Horizon, FEA)
• Strong knowledge of risk metrics such as VaR, stress testing and scenario analysis
• Capable of being independent and able to objectively analyse and report risks and exposures
• Solid knowledge of the MS Office suite, including excellent Excel and VBA skills; knowledge of Python, Power BI, MATLAB and SQL is a plus
• Advanced understanding of pricing and hedging of physical activities using various derivative instruments (futures, swaps, options, etc.)
• Regularly engage in discussion with traders and management about exposure and P&L
• Ability to provide accurate and relevant risk reporting and analysis to control activities of the trading team
• Strong understanding of financial accounting including accruals and mark-to-market
• Full command of the English language, both spoken and written.

Behavioural skills

• Highly driven, determined & hard working – able to deliver against tight deadlines
• Experience in building relationships with senior stakeholders
• Excellent people skills to interact with external and internal contacts both at executive level and a technical level
• Excellent verbal, written and presentation communication skills
• Well organised, with strong attention to detail and the ability to work under tight deadlines.
• A critical and strategic thinker, with a long-term view on risk but with a short-term and pragmatic view on implementation
• Be versatile and enjoy working within a team environment
• Ability to challenge sensitive issues constructively whilst maintaining strong working relationships
• Proactively identify and communicate potential issues with the appropriate teams or stakeholders
• A critical and strategic thinker, with a long-term view on risk but with a short-term and pragmatic view on implementation

Notice To Third Party Agencies:

INEOS does not accept unsolicited CVs from recruiters, employment agencies, or other staffing services. Unsolicited CV include any CV or hiring document sent to INEOS in the absence of a signed Service Agreement where INEOS has expressly requested recruitment/staffing services specific to the position at hand. Any unsolicited resumes, including those submitted to hiring managers or other business leaders, will become the property of INEOS and INEOS will have the right to hire that candidate without reservation - no fee or other compensation will be owed or paid to the recruiter, employment agency, or other staffing service.

At INEOS Energy, we produce and trade oil, gas, liquefied natural gas (LNG), and carbon credits. This is supported by our investments in low-carbon technologies, which will help sustain our business through the energy transition. Direct examples of these areas are ‘Project Greensand’, our pioneering carbon storage project in the Danish North Sea, and our investment in HydrogenOne Capital.

INEOS Energy Trading operates as the single face to the Gas, LNG, Power, Carbon, and Crude Oil commodity markets for INEOS. Our core mission is to fully monetise INEOS Energy’s equity Oil and Gas production across Europe and the US. Beyond this, the Trading and Business Development teams are tasked with originating and developing third-party physical business.

We also support the wider INEOS group by leveraging our carbon trading capabilities and supplying LNG, Gas, and Power to INEOS’ industrial base.

Our team is on an exciting journey, and we anticipate continued growth across both new commodities and geographies, as the business evolves to support INEOS Energy’s expanding global footprint.

Reporting to the Market Risk Manager, the Market Risk Analyst will independently identify, measure, and report on the level of economic/market risk from new business proposals, material contracts, and trading exposure, to advise the commercial teams on mitigation strategies and risk appetite. This role requires someone to bring a commercially aware and entrepreneurial mindset to the mid-office function to ensure the trading control environment is designed and implemented effectively through robust policies and procedures, and to ensure that such policies and procedures are adhered to.

As the Market Risk Analyst, one of your key responsibilities is to provide daily performance and market risk analysis for the trading business. You will be working closely with traders and other parts of the business. This role offers unparalleled exposure to the entire commodity trading lifecycle, both physical and financial, Risk functions, Finance, Back Office and multiple business units. Immerse yourself in the fast-evolving world of energy trading, particularly in the sustainable LNG market. INEOS Energy is committed to your professional growth, offering a growing vibrant environment that values knowledge, innovation and career advancement.

Responsibilities

• Design and produce key trading risk metrics (VaR, stress testing, skew analysis) and lead the continuous development of these daily processes from both a technical and efficiency perspective (e.g. automation of tasks)
• Evaluate the risk impact of complex trading strategies which may require the use of technical mathematical models, e.g. Black-Scholes models
• Lead the valuation process for long-term deals, accurately capturing the impact of a range of market scenarios to reflect the risk-to-reward ratios of new projects, and identifying the key sensitivities associated with them
• Provide risk analysis in assessing new trading strategies, trading limits, and other business assessment of risk across a range of commodities (crude & refined products, gas, LNG, carbon)
• Lead and/or support systems strategies for the market risk and trade control functions with respect to exposure management and management information systems
• Manage trade control systems where we use Horizon/FEA
• Work closely with the Director of Risk, Market Risk Manager, front office, and finance for effective allocation of trading risk capital (market, credit, cash)
• Bring mark to market principles to the control environment and interface with finance to ensure effective reporting
• Set up any new exposure management or entrepreneurial trading books as required by the business
• Work in a collaborative environment, helping to support trade control and finance business functions where needed, including setting up of new business activities and second line of defence monitoring of technical team outputs

Experience, Education & Skills

• University degree in Economics, Finance and/or related disciplines
• Relevant experience in a market risk role within commodity trading companies or banks
• Familiarity with one or more ETRM systems is an advantage (e.g., Horizon, FEA)
• Strong knowledge of risk metrics such as VaR, stress testing and scenario analysis
• Capable of being independent and able to objectively analyse and report risks and exposures
• Solid knowledge of the MS Office suite, including excellent Excel and VBA skills; knowledge of Python, Power BI, MATLAB and SQL is a plus
• Advanced understanding of pricing and hedging of physical activities using various derivative instruments (futures, swaps, options, etc.)
• Regularly engage in discussion with traders and management about exposure and P&L
• Ability to provide accurate and relevant risk reporting and analysis to control activities of the trading team
• Strong understanding of financial accounting including accruals and mark-to-market
• Full command of the English language, both spoken and written.

Behavioural skills

• Highly driven, determined & hard working – able to deliver against tight deadlines
• Experience in building relationships with senior stakeholders
• Excellent people skills to interact with external and internal contacts both at executive level and a technical level
• Excellent verbal, written and presentation communication skills
• Well organised, with strong attention to detail and the ability to work under tight deadlines.
• A critical and strategic thinker, with a long-term view on risk but with a short-term and pragmatic view on implementation
• Be versatile and enjoy working within a team environment
• Ability to challenge sensitive issues constructively whilst maintaining strong working relationships
• Proactively identify and communicate potential issues with the appropriate teams or stakeholders
• A critical and strategic thinker, with a long-term view on risk but with a short-term and pragmatic view on implementation

Notice To Third Party Agencies:

INEOS does not accept unsolicited CVs from recruiters, employment agencies, or other staffing services. Unsolicited CV include any CV or hiring document sent to INEOS in the absence of a signed Service Agreement where INEOS has expressly requested recruitment/staffing services specific to the position at hand. Any unsolicited resumes, including those submitted to hiring managers or other business leaders, will become the property of INEOS and INEOS will have the right to hire that candidate without reservation - no fee or other compensation will be owed or paid to the recruiter, employment agency, or other staffing service.

Our client is a very successful international Energy Trading company with access to all key markets worldwide.

This role offers an excellent opportunity to develop skills and responsibility in a growing and successful commodity trading business with a global Market Risk team, offering significant exposure to senior stakeholders and complex, cross-commodity risk issues. The successful candidate will support the teams with adding analytical depth, supporting risk model development, and improving risk reporting processes.

KEY ROLE RESPONSIBILITIES

• Responsible for preparing daily, weekly and monthly market risk reports, including VaR, options and stress testing
• Key role in quantitative analysis of the risk profile of the company's portfolio across commodities and products
• Provide ad-hoc analysis as directed by the manager, generally contributing to the activities of the Market Risk and Middle Office functions
• Support digitalization and automation to smooth the flow of information across the business and to remove manual tasks. Provide support within the risk team for IT systems development and testing
• Promote a culture of continuous improvement by having the courage to challenge established processes. This includes identifying inefficiencies in operations and opportunities to streamline and automate shared processes and interfaces
• Provide support within the market risk team for the development and validation of market risk models
• Ability to work effectively as part of a global, hybrid working team

KEY QUALIFICATIONS AND EXPERIENCE:

• Possess a degree in a relative Quantitative discipline
• 2 to 4 years' experience in energy risk management at an energy trading company or investment bank
• Good knowledge of derivatives products, including options
• Good knowledge of energy risk metrics/models essential
• Knowledge of energy markets (preferably Gas and LNG)
• Strong proficiency with Microsoft Office products, including Excel, VBA, Power BI, PowerPoint and SQL, other skills such as Python will be useful. Knowledge of Allegro / FEA /Topez is desirable.
• Excellent quantitative analytical skills.
• Strong focus on the accuracy of information.
• Strong communications skills, ability to leverage relationships to influence without authority.
• Proactive, with the ability to thrive in a team environment under often disparate and conflicting pressures.
• Integrity, attention to detail, and high standards of accuracy.

Based: London | Hybrid (3 days in the office per week)

Our client is a very successful international Energy Trading company with access to all key markets worldwide.

This role offers an excellent opportunity to develop skills and responsibility in a growing and successful commodity trading business with a global Market Risk team, offering significant exposure to senior stakeholders and complex, cross-commodity risk issues. The successful candidate will support the teams with adding analytical depth, supporting risk model development, and improving risk reporting processes.

KEY ROLE RESPONSIBILITIES

• Responsible for preparing daily, weekly and monthly market risk reports, including VaR, options and stress testing
• Key role in quantitative analysis of the risk profile of the company's portfolio across commodities and products
• Provide ad-hoc analysis as directed by the manager, generally contributing to the activities of the Market Risk and Middle Office functions
• Support digitalization and automation to smooth the flow of information across the business and to remove manual tasks. Provide support within the risk team for IT systems development and testing
• Promote a culture of continuous improvement by having the courage to challenge established processes. This includes identifying inefficiencies in operations and opportunities to streamline and automate shared processes and interfaces
• Provide support within the market risk team for the development and validation of market risk models
• Ability to work effectively as part of a global, hybrid working team

KEY QUALIFICATIONS AND EXPERIENCE:

• Possess a degree in a relative Quantitative discipline
• 2 to 4 years' experience in energy risk management at an energy trading company or investment bank
• Good knowledge of derivatives products, including options
• Good knowledge of energy risk metrics/models essential
• Knowledge of energy markets (preferably Gas and LNG)
• Strong proficiency with Microsoft Office products, including Excel, VBA, Power BI, PowerPoint and SQL, other skills such as Python will be useful. Knowledge of Allegro / FEA /Topez is desirable.
• Excellent quantitative analytical skills.
• Strong focus on the accuracy of information.
• Strong communications skills, ability to leverage relationships to influence without authority.
• Proactive, with the ability to thrive in a team environment under often disparate and conflicting pressures.
• Integrity, attention to detail, and high standards of accuracy.

Based: London | Hybrid (3 days in the office per week)

About Us:

Zenith Bank (UK) Limited (ZBUK) is a subsidiary of Zenith Bank PLC, the most profitable bank in Nigeria with an established trajectory of superlative performance, as well a strong pedigree of innovation, resilience, and market dominance. On an annual basis, Zenith Bank PLC amasses a string of notable awards; one of the most recent being listed as the sole Nigerian brand on the World’s top 100 companies in 2023 by the World Finance Magazine.

Zenith Bank (UK) Limited (ZBUK) was set up with a clear strategy to leverage trade and investment flows between Nigeria and Europe, by providing intermediary banking services and facilities for trade-related working capital and capital expenditure.

Zenith Bank recognizes the importance of leveraging a highly skilled workforce to achieve its strategic and operational goals. The bank is committed to providing an environment that is conducive for effective performance by availing all staff the necessary learning opportunity. We value the well-being of our staff and we encourage them to strike a balance between their work and personal lives, thereby creating a healthy atmosphere for personal development and career success.

With the introduction of new services here in the UK and our unparalleled knowledge of business with Africa, our 5 year strategy ensures “Controlled Growth” as we aim to become the Bank of choice for businesses wishing to transact in the African continent.

Role Overview:

Market Risk is a 2nd Line of Defence function primarily tasked with active monitoring of the banks risk portfolios to identify, monitor, and escalate (where necessary) risks and control findings effectively, to enable timely decision making by the CRO and wider ZBUK executive. Oversight extends to infrastructure, user activity and controls, compliance with Bank Risk Appetite and associated policy / project development to support the successful delivery of wider Risk projects and other regulatory publications / requirements.

Role Responsibilities:

Identification

• For agreed risks (split by asset class, risk policy or otherwise) develop a detailed understanding of the risks, maintain on an ongoing basis an up-to-date situational awareness of the risks.

Monitoring

• Actively monitor markets to assess the potential impact of market movements and wider economic activity on the bank’s portfolio of proprietary and client-based FX, trading, and banking book products.
• Monitor limits for the Trading and Non-Trading portfolios in accordance with ZBUK’s policies approved by the Board Risk Committee.
• Report on breaches of risk management policies, limits and / or controls.
• Produce daily market risk reporting and other ad hoc reporting for senior management, Treasury, and the Board.
• Present reports in a constructive, insightful, and effective way to ensure developing risks, issues and opportunities are easily understood for decision making purposes.
• Participate in the development of systems to assist in the evaluation and analysis of risk information.
• Work with a high degree of accuracy to ensure no restatement or reworking of positions / reports is required.
• To work closely with the CRO, and the wider Risk team in enhancing and implementing new MI reports for Market & Liquidity Risk for the identification, collection, and analysis of risk information. Enhancement and automation of risk reports and tools with Excel functions and Python
• Maintaining and updating internal procedures, RCSAs and process flows

Escalation

• Providing on a weekly basis Market Risk reports to the Market Risk Committee and the Asset and Liability Committee.
• Delivering management information efficiently and in a timely manner.
• Be aware of and ensure compliance at all times with all applicable legal and regulatory requirements.

Additional Responsibilities

• Keep up to date with industry best practice and regulatory developments where this affects the risk management of the organisation.
• Update regulatory documents and models to support the Manger of Market and Operational Risk.
• Be a self-starter with a proactive approach towards self-development and broadening skills set.
• Develop tools to effectively and independently validate daily reports from Finance on liquidity and capital.
• Support and contribute to wider Risk projects and objectives as reliable and conscientious team player.

Together with the duties listed above the Market Risk Analyst is required to assist with other analytical and project work and ad hoc duties assigned by the CRO and comply with the FCA/PRA’s Individual Conduct Rules, as outlined below.

Skills and Knowledge Required:

• At least 3-5 years’ experience in Market Risk.
• Degree in a numerical / financial discipline.
• Sound understanding of derivative and foreign exchange trading.
• Driven, ambitious, self-starter who can grasp a concept quickly and deliver a reasoned investigation and analysis.
• Attention to detail, to pick up on errors and produce accurate work, grasping of the reasons for a strong control environment and operating with this mentality.
• Knowledge of Basel II, Basel III, Risk and Capital requirements.
• Knowledge of Regulatory practices within Risk and Finance in financial services.
• Positive and approachable team player, effective and supportive in working with colleagues at all levels.
• Understanding of VaR and other measures of market exposures and accounting knowledge.
• Project management experience desirable.

Software Knowledge:

• Strong IT skills, Microsoft Office package MS Excel Advanced (Essential) Python (Essential) VBA (Desired).
• MS Word and MS Outlook.
• Experience with Bloomberg an advantage, Temenos (T24).
• Calypso (Advantageous).

Specific Product knowledge required:

• Essential: Interest Rate Futures, Foreign Exchange, Interest Rate Swaps, Bonds and NDFs.
• Desired: Wholesale Money Market and Trade Finance Products.
• Desired: Awareness of Liquidity regulatory requirements.

This is a permanent position, paying up to £65,000 based on experience.