However, the opportunity is broader than simply producing reports. The business wants to continue evolving the function towards a high-quality deals desk / product-control model, with analysts who understand the commercial substance of transactions and can challenge, investigate and explain what they see.

You will therefore:

• Take ownership of the gasoline trading book, understanding the physical positions and exposures generated by individual contracts and trading activity.
• Produce and explain daily positions and mark-to-market P&L, including meaningful commercial commentary.
• Understand and challenge pricing and marking methodologies, rather than simply accepting system-generated outputs.
• Investigate discrepancies and be capable of rebuilding positions or P&L from first principles when required.
• Work closely with Trading, Commercial and Finance to ensure that exposures and performance are properly understood.
• Help improve controls, reporting and processes as the function continues to develop.
• Act as a senior point of reference within the team, mentoring and developing more junior analysts.
• Create additional capacity for the team leadership to focus on broader projects and the continued development of the function.

The existing specification explicitly looks for someone able to improve reporting, challenge the business and ensure trading activity is transparently represented.

Who are we looking for?

The strongest candidates are likely to come from product control, deals desk or physical commodity risk rather than a purely statistical market-risk background. You will need a strong understanding of physical commodity trading, hedging, positions and mark-to-market P&L. Direct experience of oil products, refined products, gasoline, distillates, ethanol or biofuels would be particularly relevant. However, the business is also interested in strong physical commodity professionals from adjacent markets – including metals – where they can demonstrate that they understand how physical contracts translate into positions, exposures and P&L.

Crucially, this role requires someone who is comfortable working in a smaller, entrepreneurial trading environment. If your experience has largely involved pressing a button within a highly developed product-control infrastructure and reviewing the resulting output, this is unlikely to be the right role.

If, however, you enjoy taking a contract, a price and a blank sheet of paper and working out “what is my position and what is my P&L?”, the opportunity should be significantly more interesting.

Why consider it?

This is an opportunity to join a business where an experienced analyst can have visible ownership and influence. Rather than becoming one component of a large product-control infrastructure, you will own a meaningful trading book, work closely with the commercial business, help develop junior colleagues and contribute to how the function itself evolves.

There is a longer-term ambition to develop the analytical capability of the team further, including greater use of tools such as VaR, but the immediate priority is getting the fundamentals right: positions, physical exposures, marks, P&L and commercial understanding.

For someone who understands physical commodities and wants greater ownership than a large, highly automated environment can typically provide, this offers a particularly interesting next step.