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We are interested to hear from talents who share our core working values of honesty, integrity, and respect for others. We also want those who can build on our business vision, are prepared to accept accountability, and can achieve great results through teamwork.
Where you fit in
Shell Trading and Supply (T&S) is the world’s largest energy trading business and operates in every major energy market around the world. It supports the Shell group businesses by trading natural gas, electrical power, crude oil, refined products, biofuels, chemical feedstocks, freight, and environmental products. Shell Trading and Supply also manages one of the world's largest fleets of liquefied natural gas carriers and oil tankers and provides maritime expertise and logistics to Shell companies and external customers. Our aim is to create value for Shell’s shareholders, customers, and counterparties across the globe by forging successful partnerships that generate mutually beneficial commercial opportunities.
The Quantitative Risk team is responsible for researching, implementing, prototyping, and supporting risk management metrics, models, and systems. The primary role for this position is to create innovative risk solutions to assess risk/reward of the portfolio, including asset pricing models, Monte Carlo simulation VaR, scenario stress testing, liquidity analysis, gross margin at risk as well as to analyze daily and real-time market information for an industry leading energy trader.
The Senior Quantitative Risk Analyst reports to the Head of the Quantitative Risk and would collaborate equally with counterparts across various global locations therefore candidate will need to be comfortable with working independently with limited supervision at times and be able to thrive as part of a global team with members in the US, UK, Netherlands, India, and Singapore. This role requires collaborating and providing advice to others in the global Risk organization which includes Market Risk Advisors, Market Risk Operations, Valuation, and Model Validation as well as some analysts in the commercial organization.
What’s the role?
You will be responsible for the following:
- Drive the design, development, and implementation of quantitative solutions to assess risk/reward of the portfolio, including Monte Carlo simulation VaR, parametric VaR, VaR back-testing, scenario stress testing, liquidity analysis, gross margin at risk, forward curve modeling, etc.
- Develop, calibrate, backtest, and maintain asset pricing models to assess the fair economic value of non-standard physical optionality, such as LNG diversion optionality, renewable asset, tolling agreement, natural gas or battery storage and other structured energy products.
- Engage in innovative research tasks for the team and risk management such as designing methodologies to quantify risks which lie outside of our current established risk metrics.
- Work with market risk and valuation team to interpret and analyze complex risks of the business portfolio, including long term structured contracts, to determine the appropriate modeling to ensure accurate valuation and risk assessment. Apply Monte Carlo simulation or close form solutions to value complex structured deals.
- Develop tools for on-going portfolio reviews and producing deep-dive analysis for senior management. Well-presented analysis with key assumptions clearly explained will enable the analyst to work closely with key senior stakeholders in the Trading and Supply business.
- Investigate and manage large data sets, ensuring consistency and quality. Build tools to enable the data to be easily accessed by analysts across Risk. SQL, SAS, and Python are the preferred languages for accessing and manipulating datasets within Shell.
- Support digitalization and automation to smooth the flow of information across the business and to remove manual tasks.
- Support the development and validation of risk management systems and reports. Shell’s roadmap is to use big-data, machine learning and real time analytics to make the Trading and Supply business continue to be a success for the decades to come.
- Provide detailed analysis and documentation of methods, techniques, and findings. Well documented processes enable team members to build new achievements upon earlier work.
What we need from you
We are keen to hear from professionals with proven experience in a quantitative risk role within a financial or energy trading organization, preferred with a fundamental understanding of trading, risk, and financial modeling, derivative instruments, and hedging techniques.
Besides this, we would also like to see the following:
- Postgraduate/Advanced Degree (MS/PhD) in financial engineering, mathematical finance, economics, statistics, operation research, engineering, or similar.
- Excellent quantitative skills and knowledge in statistical methods, operations research, Monte Carlo simulation technique, and numerical methods required. Strong foundation in the valuation of derivative products including forwards and futures contracts, simple and exotic options.
- Modeling capabilities for structuring energy transactions such as physical and financial wholesale commodities, natural gas storage assets, heat rate option, power transmission, and renewable energy solutions is a plus.
- Experience in scripting languages which enable data gathering and transformation such as Python, SAS, or Matlab.
- Experience retrieving datasets from structured databases using SQL / Oracle, and familiar with various ETRM trading system such as Endur, ZEMA, etc.
- Intermediate to Advanced Excel skills; such as pivot tables, lookups, VBA macros.
- Ability to work under pressure, formulate and articulate solutions and defend assumptions
- Ability to solve real world business problems using quantitative and computational techniques
- Reliable, dependable and disciplined. Excellent attention to detail, methodical, organized.
- Resilient when working under pressure, with the ability to priories tasks to meet key deadlines.
- Continuous improvement mindset; utilizing tools to streamline and automate work to boost efficiency.
- Scientific mindset; identify, investigate, analyse, research, discuss, record, and resolve issues.
- Team player, flexible to work with colleagues across numerous time zones with both Market Risk at the Trading Hubs in London, Rotterdam, Houston, Singapore, but equally the Business Operations centers in Chennai, Manilla, Bangalore.
- Excellent communication and strong stakeholder engagement skills; the role will require writing documentation, research reports, and presenting analysis and insights to senior stakeholders. 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 the knowledge or special skills that the Quantitative Risk team can provide.
If you don't see yourself fully reflected in every job requirement listed on the posting above, we still encourage you to reach out and apply. Research has shown that not everyone often applies when they do not feel 100% qualified. We are committed to creating a more equitable, inclusive, and diverse company and we strongly encourage applicants of all genders, ages, ethnicities, cultures, abilities, sexual orientation, and life experiences to apply. We look forward to receiving your application.
Flexible working
We are keen to support flexible working arrangements, subject to local regulations and legislative frameworks. If this is of interest to you, please describe in your application the type of flexible working arrangements for which you would like to be considered (e.g., part-time, job share).
About Shell UK
Shell is an international energy company that aims to meet the world’s growing need for more and cleaner energy solutions in ways that are economically, environmentally, and socially responsible. It is one of the world’s largest independent energy companies, operating in more than 70 countries.
Shell has a global target to become a net zero emissions energy business by 2050. This means that Shell aims to be net zero on all emissions generated by its operations and the energy needed to power them. The company is working with customers, business, and governments to address emissions across different sectors.
In March 2022, Shell UK announced an ambition to invest between £20 to £25 billion in the UK energy system over the next decade, more than 75% of which is intended for low and zero-carbon products and services including offshore wind, hydrogen, and electric mobility. These investments, which are subject to board approval, aim to propel the UK closer to net zero whilst intending to stimulate economic growth and jobs.
Our people are our greatest asset, and our commitment to your career will see you thrive in a work environment that offers an industry-leading development programme. When your ideas travel, Shell will benefit, and innovation will thrive. Shell has a key role to play in helping meet the UK’s growing energy demand, whilst using innovative technologies to develop cleaner energy. We are one of the largest FTSE 100 company in the UK by market capitalisation and make a significant contribution to the UK economy.
An innovative place to work
There’s never been a more exciting time to work at Shell.
Join us and you’ll be adding your talent and imagination to a business with the ambition to shape the future – whether by investing in oil, gas and renewable energy to meet demand, exploring new ways to store energy, or developing technology that helps the world to use energy more efficiently, everyone at Shell does their part.
An inclusive place to work
To power progress, we need to attract and develop the brightest minds and make sure every voice is heard. Here are just some of the ways we are 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.
- We consider ourselves a flexible employer and want to support you finding the right balance. We encourage you to discuss this with us in your application.
A rewarding place to work
Combine our creative, collaborative environment and global operations with an impressive range of benefits and joining Shell becomes an inspired career choice.
We’re huge advocates for career development. We’ll encourage you to try new roles and experience new settings. By pushing people to reach their potential, we frequently help them find skills they never knew they had, or make career moves they never thought possible.
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