BNP Paribas
Natural Gas Trader - Director
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Company Purpose
Our company purpose is to contribute to a responsible and sustainable economy by financing and advising clients according to the highest ethical standards.
Our Employer Promise Is Built Around Three Pillars
- Being a great place to work
- Committed to sustainability and having a positive impact
- Being dedicated to the development of our people
Business Area
BNP Paribas’ Global Markets business offers a broad range of products and services in the global interest rates, credit, currency, equities & commodity markets. Global Markets help their franchise of clients find effective ways to raise and invest capital as well as manage their exposure to risk. Their client base comprises of hundreds of corporations, institutional investors, banks, governments and supranational organisations.
Global Markets has the scale and reach to conduct business anywhere in the world and deliver products denominated in almost all of the world’s currencies.
Global Macro offers full spectrum of products across FX, Rates and Commodities in both developed and emerging markets. From millisecond electronic trading supported by the most advanced AI platforms, through to analogue risk transfer and bespoke solutions to Macro problems.
Market making, the CD trading platform is active across a wide range of cash, physical, futures and other derivative products in crude, gas, refined products, bullion, and power markets. Offering a wide range of hedging solutions for clients who are exposed to the price of physical commodities.
Developing new business, structure trades and execute business within the global Energy sector.
Job Purpose
Purpose:
As a Director within the Commodities Energy Trading team, the role holder will be accountable as a subject matter expert for all trading activities within their specialism, and will be responsible for providing leadership, clear objectives and guidance within their teams. The role holder should act as a market maker, completing more complex and strategic transactions as well as contributing ideas and solutions for the consideration of senior management. Fosters a diverse and inclusive work culture.
Scope:
GLOBAL
Key Responsibilities
- Accountable for utilising expert, detailed knowledge of US Natural Gas transactions as a subject matter expert to lead and drive the activities of the team.
- Develops, coordinates and leads on tasks such as:
- Pricing both standard and non-standard / bespoke transactions within the team accurately, in a manner that properly assesses market liquidity, hedging costs, risk management slippage, funding and balance sheet factors.
- Creating markets for the team within area of expertise, setting overall desk strategy for capitalising on new opportunities, and driving the Bank’s strategy through the creation of this business.
- Managing transactions, leveraging junior resources in the team wherever appropriate and actively participating in strategic transactions where execution risk is material.
- Ensuring robust risk management, with a focus on monitoring and managing market risk, operational risk and compliance.
- Accurately pricing transactions within personal remit, properly assessing relevant market liquidity, hedging costs, risk management slippage, funding and balance sheet factors.
- Booking transactions, and monitoring / conducting follow-ups with booked transactions with Middle Office and Back Office.
- Monitoring the aggregate Risk and P&L of the team’s book and assessing the risks of personal book.
- Developing the franchise by collaborating with other business lines at the Banks.
- Leads the development of new markets within the US Natural Gas sphere, such as new physical hubs in the US where we have a client presence.
- Comply with all applicable legal, regulatory and Group's internal compliance requirements as well as Code of Conduct including, especially, Financial Security, Fight against Corruption, Know Your Customer due diligence, Client Interest Protection, Market Integrity, Professional Ethics and Respect for colleagues.
- Partners with other business units and teams to design ideas, challenge positions and develop new client opportunities. In addition, will also have direct contact with clients.
- Contribute to the development of new tools with IT/ Quantitative Research.
- Always considers risk in the roles daily activities and abides by the Key Front Officer Responsibilities and Guidelines.
- Maintains the FCA Approved Controlled Function.
- Contributes through suggestions to senior management to the development of strategies that drive the Bank’s objectives and are in line with relevant policies, procedures and any relevant regulatory requirements or professional codes of conduct, in relation to assigned securities and specialist areas.
- Operates autonomously within established risk limits and capital commitment parameters, with responsibility to report and escalate appropriate matters to line management. Acts as a senior point of escalation within the team and defines appropriate interventions in order to deliver a quality service to clients.
- Maintains open communication with all team members, as well as with direct line management, in order to resolve risk and P&L discrepancies and fulfil notification requirements.
- Contributes to, with the support of junior colleagues where appropriate, the technical development of IT/Quantitative Research tools to support the management / optimisation of financial resources.
- Develops and enhances strong client relationships, and works effectively with appropriate stakeholders to continuously develop products and services offered by the Commodities Energy Trading team, as well as to seek new and innovative approaches to sell them to clients.
- Leads, motivates and develops junior staff members in their team to ensure that they have the capability to deliver on objectives set for the department. Facilitates their development (including through regular and annual reviews, where appropriate), and supervises the delegation of work in the team to ensure effective and profitable output.
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Requirements
- Professional qualification preferred and broad knowledge of trading activities typically gained at BNP Paribas or at a comparable investment bank, combined with expert understanding of financial market (including regulations, legislation and Bank policies and procedures).
- Deep knowledge and past experience in handling, completing, closing complex Natural Gas transactions, combined with good knowledge of other markets and products. Maintains a strong market awareness independently to stay on top of developments.
- Demonstrable ability and experience in managing risks related to complex portfolios / transactions in a disciplined and confident manner.
- Good working knowledge of a wide range of professional standards and protocols relevant to the team, with the ability to apply this knowledge to improve BNP Paribas processes and practices.
- Ability to act as a role model, and quickly adapt behaviour, style, approach, priorities, communication or working methods according to the needs of the task, individual/group, situation, constraints and circumstances.
- Very experienced at managing internal and external relationships at all levels (including senior), and capable at working with them to understand requirements and define appropriate solutions. Recognised as a highly effective communicator, who can present complex ideas / strategies and critical messages to large, culturally diverse and unfamiliar audiences skilfully.
- Excellent people management skills and an ability to work with individuals to set individual objectives and manage performance to ensure their delivery.
- Ability to challenge project teams in order to achieve business results and goals.
- Track record of recognising business opportunities, generating innovative and creative ideas to drive the Bank’s objectives.
- Strong commercial acumen, with a demonstrated commitment to maintaining market awareness independently.
- Computer literacy and a good understanding of and demonstrable experience in various specialist systems. (e.g. Reuters, Bloomberg and in-house risk/pricing tools).
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And of course, we expect all our colleagues to embody and practice the Group values (alignment with the Bank’s strategy, commitment, work ethic, integrity and Code of Conduct).
A Bit More About Why You Should Join Us
We’re a great place to work
We aim for optimal work/life balance (depending on role, this includes hybrid working, flexible working and agile).
We are proud of our award-winning flexible benefits and health & wellbeing strategy. Our flexible benefits include:
- Generous holiday allowance of at least 26 days (plus bank holidays) – with option to buy and sell holidays.
- Valuable financial plans – a 12% non-contributory pension which has been moved to sustainable investments*, life assurance*, income protection and personal accident insurance.
- Extensive wellbeing and mental health offering – one of the most advanced private medical schemes in the UK, dental cover, wellbeing app, Cognitive Behavioural Therapy support, subsidised gym memberships, bespoke health assessments including genetic testing, Private GP (including digital GP services to parents of employees), Employee Assistance Programme, menopause & fertility support (we are an accredited Menopause Friendly Employer), neurodiversity assessment and support.
- Key onsite services and facilities in London – include physiotherapy, nutrition, massage therapy, physiology, mental health first aiders, seasonal flu vaccinations and free onsite fitness centre.
- Plus, emergency back-up care for dependants, green car leasing, season ticket loan, and a range of other benefits.
Subject to relevant caps.
As the eurozone’s largest bank, we are committed to having a positive impact in the world.
For example, we are committed to Net Zero in all of our financing and investment portfolios by 2050. By 2030, 80% of our energy production financing will be low carbon.
But impact for us means more than climate. It means empowering our people every day. Everyone gets four volunteering days each year - in 2023, we achieved over 18,000 hours of volunteering across the UK and reaching over 4,500 young people.
We believe in our people
We support our people to develop skills to adapt to the ever-evolving world of work and to prepare for the jobs of today and tomorrow. We do this through a comprehensive training offering, talent programmes, mentoring, career days and inhouse career tools.
We are proud of the number of our people who progress and secure new roles internally. In fact, in 2023, nearly half of our positions in UK CIB were filled internally.
Investing in our people also means we have a collaborative and inclusive culture:
- Direct feedback from our people shows that our internal culture sets us apart from our industry peers.
- Each year, nearly 30,
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