Market Risk Operations Manager

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Market Risk Operations Manager

senior · Corporate Finance

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What’s the role?

The Senior Integration and Optimization Manager is a member of the Market Risk team and reports to the Global Market Risk Manager. The Market Risk Team is responsible for understanding the trading markets and strategies employed by the trading business of Shell Trading and Supply.

The Shell trading business is one of the world’s largest independent energy companies, operating in more than 70 countries.

What you will be doing

• Develop and apply fair economic value principles across all of T&S business, coordinating across the global risk managers to ensure consistent application. This includes providing modelling support and challenge with stakeholders on valuation inputs and parameters.
• Ensure new processes being set up, new business integration with Trading or coming under the purview of Market Risk, new finance controls being designed, etc are consistency being adopted and used across all of T&S.
• Ensure development of industry leading and standard risk measurements techniques across all lines of business.
• Support Global Market Risk Manager to develop new capabilities in ETRMs or Market Risk tools
• Ensure data integrity and fidelity designs of PDS are future proof working with Heads of PDS, Credit, GCS and other projects across Shell Trading and Finance.
• Provide independent advice and guidance on the level of risk/return in the business and whether this is congruent with the agreed level of risk appetite.
• Identify risks, look at model and portfolio assumptions, market inputs, pricing issues, valuation parameters and instrument types.
• Produce ad-hoc analysis to explain P&L or exposure changes to Front Office, assist them with queries and requests for system setup changes.
• Produce executive level summary of T&S performance, risk emergence, stress scenario etc for CFO, EVPs and CRO of Shell.
• Ability to solve real world business problems using quantitative and computational techniques.
• Provide analysis, review and comments on New Business Proposals. Where applicable, provide peer review and challenge to the deal proposals for other businesses. Ensure that the systems and support functions are ready for when trading commences.
• Carry out the review and execution of SOX controls within their organization, and manage communications with auditors after they are completed.
• Develop new controls where necessary to support appropriate operations and assurances for Finance and Trading.
• Work with the Valuation and Quantitative Analytics teams to understand and model embedded physical optionality and how optimization of physical portfolios changes exposures.
• Assist in limit setting and monitoring of the  T&S  business, but equally play a key role in limit setting globally across the Trading and Supply business. Ensure that all trading activities remain within mandated limits, and escalate appropriately if they are exceeded.
• Promote a culture of continuous improvement across all levels of the organization by having courage to challenge established processes. This includes identifying inefficiencies in local and global operations and opportunities to streamline and automate shared processes and interfaces.
• Support digitalization and automation to smooth the flow of information across the business and to remove manual tasks.
• Drive understanding of the design and utilization of methodologies to assess risk/reward of the portfolio, including VaR back-testing, stress testing, scenario analysis, liquidity analysis.
• Understand and explain changes in VaR by breaking down the impact by its underlying drivers, and ensuring that the VaR accurately reflects the positions taken and volatility of the relevant market.
• Produce content for and occasionally participate in the quarterly Risk Committee meetings with Senior Leadership. Powerpoint skills to produce presentations for Executive level presentations.
• Ensure that Market Risk fulfils its role as an independent “check and balance” function and is viewed as such by other parts of the organization.
• Define and advance analytical mindset and behaviours by providing support for training and learning opportunities to analysts to enhance their understanding of trade book strategies, complex deals, trading and risk mandates, and market fundamentals.

Competencies

• Capable of being independent from front office; able to objectively analyse and report risks and exposures. Regularly engage in discussion with traders and management about exposure taken and resultant P&L.
• Strong stakeholder engagement skills, having the self-confidence to challenge traders on deals, valuations, positions, limit mandates.
• Strong understanding of the integrated value of Shell Trading, Trading strategies, option modelling, System or ETRM implementation.
• Strong understanding of Risk management or monitoring tools or techniques would be advantageous.
• Excellent communication skills; the role will require writing reports and policies and presenting analysis and insights to senior stakeholder.
• Team player, with good collaboration and interpersonal skills. Ability to work with cross functional teams and influence without direct authority.
• Ability to articulate and communicate complex scenarios and ideas in a clear and concise manner whilst understanding the perspective and experience of others.
• Ability to coach and mentor team members as well as members of other teams who require knowledge or skills that Risk can provide.

What we need from you

We are keen to hear from risk professionals with substantial experience within a trading and risk management organization, including a strong understanding of trading, operations, risk, compliance and mid/back office business processes, policies, procedures and controls.

We would also like to see the following:

• At least 8-10 years of working experience
• Degree in Business, Economics, Mathematics, Science, Engineering or IT; or relevant workplace experience in the energy trading industry.
• Experience of leadership in a team or project; leader and adviser in implementing new processes with short-dated hard deadlines.
• Thorough understanding of financial, commodity and energy markets, derivative instruments, and hedging techniques. Knowledge of options theory, risk of options, and trading strategies.
• Candidates shall possess extremely good judgment and shall be able to provide advice, while balancing risk and value on a daily basis.
• Reliable, dependable and disciplined. Excellent attention to detail, methodical, organized. A trusted partner of the business.
• Resilient when working under pressure, with the ability to prioritise tasks to meet key deadlines.
• Good judgement to provide advice, question discrepancies, escalate issues.
• Learner mindset; innovative and creative, excellent problem-solving capabilities.
• Technology oriented; ability to utilise new technologies to enhance existing controls, processes, and offer detailed trading insights 

What we offer 

You bring your skills and experience to Shell and in return you work with talented, committed people on one of the most important challenges facing our planet. You’ll have the opportunity to develop the skills you need to grow in an environment where we value honesty, integrity, and respect for one another. You’ll be able to balance your priorities as you become the best version of yourself. 

• Progress as a person as we work on the energy transition together. 

• Continuously grow the transferable skills you need to get ahead. 

• Work at the forefront of technology, trends, and practices. 

• Collaborate with experienced colleagues with unique expertise. 

• Achieve your balance in a values-led culture that encourages you to be the best version of yourself. 

• Join an organisation working to become one of the most diverse and inclusive in the world. We strongly encourage applicants of all genders, ages, ethnicities, cultures, abilities, sexual orientation, and life experiences to apply. 

• Grow as you progress through diverse career opportunities in national and 

• international teams. 

• Gain access to a wide range of training and development programmes. 

An Inclusive & Progressive Place to Work  

• To power progress together, we need to attract and develop the brightest minds and make sure every voice is heard. Here are just some of the ways we’re nurturing an inclusive environment – one where you can express your ideas, extend your skills, and reach your potential. 

• We’re creating a space where people with disabilities can excel through transparent recruitment process, workplace adjustments and ongoing support in their roles. Feel free to let us know about your circumstances when you apply, and we’ll take it from there. 

• We’re closing the gender gap – whether that’s through action on equal pay or by enabling more women to reach senior roles in engineering and technology. 

• We’re striving to be a pioneer of an inclusive and diverse workplace, promoting equality for employees regardless of sexual orientation or gender identity. 

Shell in India  

Shell is a diversified energy company in India with 13,000 employees, and presence in Integrated Gas, Downstream, Power, Renewable and Upstream. Additionally, we have deep capabilities in R&D, digitalisation, and business operations. 

Our global strategy, Powering Progress, is designed to generate value for our shareholders, customers, and the wider society, and focuses on creating more value with less emissions. The strategy supports our purpose of providing more and cleaner energy solutions, with the aim of profitably transforming Shell into a net-zero emissions energy business by 2050. As India moves towards its target of net-zero emissions by 2070, Shell India aims to play a leading role in securing vital energy for today, while investing in, and helping to build, the energy system of the future through strategic investments in the country. 

Our Lubricants business serves over 50,000 consumers through a strong network of over 200 distributors, and operates an end-to-end value chain that spans conceptualization, development, and production at a world-class blending plant at Taloja. Through our 350-plus retail stations, we offer an integrated mobility experience including fuels, cafes, and convenience stores, with a prominent network of EV recharging facilities. 

Shell owns and operates a LNG re-gasification terminal at Hazira, Surat, with a capacity of 5 MTPA and a LNG truck-loading unit that plays a crucial role in helping meet India’s growing demand for gas across sectors. In 2022, Shell acquired Sprng Energy in a $1.55 billion deal to build an integrated energy transition business in the country. Sprng is a leading renewable energy company in India which develops and manages solar, wind, and hybrid power generation facilities and infrastructure. 

Our three capability centres across Bangalore and Chennai serve as a technology and innovation powerhouse for Shell globally, working as a delivery engine for core technical, digital, and finance processes: pioneering digital innovation and cutting-edge technologies across the energy sector. We also have strong academic partnerships and collaborations with leading universities and technology institutes to accelerate decarbonization efforts within the energy sector. 

We are committed to positively contributing to the communities in which we operate through programmes on STEM Education, Skilling, and Livelihood across India. We nurture and invest in startups developing initiatives focused on accelerating energy innovation through programs such as Shell E4 and Shell Eco-marathon. We also have strategic investments in new energy companies such as Husk Power, d.light, Orb Energy, and Cleantech Solar. 

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