Job Family Group:

Supply & Trading Group

Job Description:

About us

Our purpose is to bring together people, energy and markets to power and navigate a changing world. In a time of constant change and possibility we need new talent to pursue commercial opportunities, fueled by world-class insight and expertise. We’re always striving for more innovative digital solutions, sustainable outcomes and closer collaboration across our company and beyond, and you could be part of that too. Together we continue to grow as the world’s leading energy company!

About the role

The Analytics & Insights team is responsible for providing analysis of Oil, Gas, Power and Emissions markets to the trading and origination teams within Trading & Shipping. Analysis performed by the team provides commercial value by keeping traders, originators, and management informed of underlying views that affect the markets as well as a toolkit to quantify these views and their price discovery.

The Market Strategist role resides in the Gas and Power Strategist team (part of the larger analytic function). One of the core elements of this discipline is to identify changes in supply and demand fundamentals within different regions of the market and communicate the likely impact on price action to the trading and origination teams. This key role will work alongside the bench to provide such analysis in service of creating models, foundational views and trading strategies in line with changing market dynamics.  Analysis performed by the individual and team will have a direct linkage to commercial value creation and assist in keeping traders, originators, and management informed of underlying fundamental views that affect the markets.

In addition to the above, this role will involve the creation of market and fundamental views that drive the valuation of long-term deals in the markets covered. These views will require the development and maintenance of models, data and assumptions to provide a quantitative and fundamental framework for valuation in the long-term space as well as a deep understanding of the short-term view.  The role will involve communicating these views externally to customers and counterparties as well as internally to originators, structurers, traders and other strategists.  The role will also involve influencing strategy at the group level to help meet bp’s broader ambitions.

The role involves supporting our North American power trading and origination team based in Houston or New York (location is flexible). The primary focus will be the coverage of Western US power markets. The role also covers the CA REC market. This will involve working in a squad to develop, maintain and continuously improve the tools and reports necessary to provide a real time view of fundamentals that drive market dynamics that focus on the team’s main exposures and opportunities. This role will also involve working closely with the west gas team to ensure an alignment of views on areas of overlap as well as working with other teams as required to ensure the correct flow of information.

Applicants should have experience with the Western US power markets (CAISO, Mid C, PV) and their analysis in a commercially focused role. They should possess experience with the market dynamics, fundamental drivers and analysis tools used for similar roles across the industry. They should also possess some level of understanding of the Western US gas markets and CA and WA carbon allowance markets in as much as they impact power prices. Given how important regulatory changes are in the West, applicants must also be familiar with the regulatory environment that drives power markets in the region.

Key accountabilities

Provide fundamental analysis and pre transaction decision support to the West Power and REC team.Develop and/or improve the models and reports required to provide the framework for risk neutral nowcasts of fundamental changes to price action.Work with others on the team to develop and maintain long term views for use in internal deal valuation frameworks and strategy planning.Manage a two way information flow with the gas team to ensure areas of overlap are aligned.Work to constantly evolve modelling approaches to apply emergent technologies and ideas.Provide ad hoc support the trading team, originations team and the wider BP group.

Essential education

Hold a degree in a quantitative, economics, statistical, mathematical, engineering or similar discipline

Essential experience requirements

Extensive experience with power markets as either a trader or an analyst on a trading/origination team.Extensive experience with power and related markets in Western US.Extensive experience with the fundamentals that drive West Power and related markets. This includes familiarity with the PNW Hydro system.Extensive experience with regulatory frameworks governing energy markets in the Western United States.Experience working with Python, VBA and SQL etc. in a professional setting.Experience developing, interpreting and improving models to analyze and report power markets.Ability to interpret data and information to conclude and communicate views both formally and informally.Independent thinker; creative in finding alternative solutionsProactive approach to delivering results; able to deal with conflict and field critical questioningExperience in quantitative modelling skills including working with large and incomplete datasets.

Desirable criteria

Experience with CAISO CRRs and other western transmission markets.Experience with using Python with DataIku to build professional models.Experience with applying pioneering quantitative modeling approaches like machine learning to professional models.

Why join bp

At BP, we support our people to learn and grow in a diverse and challenging environment. We believe that our team is strengthened by diversity. We are committed to fostering an inclusive environment in which everyone is respected and treated fairly.

There are many aspects of our employees’ lives that are meaningful, so we offer benefits to enable your work to fit with your life. These benefits can include flexible working options, a generous paid parental leave policy, and excellent retirement benefits, among others!

How much do we pay? ($166,000 - $308,000) *Please note the pay range listed for this position is a good faith and reasonable estimate of the base pay range for this position at the time of posting. You may learn more about our generous benefits here Explore Our Benefits

Travel Requirement:

Negligible travel should be expected with this role

Relocation Assistance:

Relocation may be negotiable for this role

Remote Type:

This position is a hybrid of office/remote working

Skills:

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Legal Disclaimer:

We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, sex, gender, gender expression, sexual orientation, age, marital status, socioeconomic status, neurodiversity/neurocognitive functioning, veteran status or disability status. Individuals with an accessibility need may request an adjustment/accommodation related to bp’s recruiting process (e.g., accessing the job application, completing required assessments, participating in telephone screenings or interviews, etc.). If you would like to request an adjustment/accommodation related to the recruitment process, please contact us.

If you are selected for a position and depending upon your role, your employment may be contingent upon adherence to local policy. This may include pre-placement drug screening, medical review of physical fitness for the role, and background checks.