Saturday, March 6, 2010

Senior Crude Oil Trader


* The purpose of this position is to trade 3rd party crudes. This position takes on significant trading risk as there is no organizational base asset involved. The trader must utilize his/her cognitive abilities to identify and create trading opportunities.
* The trader must be able to utilize financial instruments to manage and optimize inherent trading risks.
* This position requires an entrepreneurial skill as the trader creates his/her own opportunities by foreseeing and forecasting market trends.
* This particular Sr. Crude Oil Trader role will focus on USGC, Cushing and Atlantic Basin crude trading.
* The areas of focus for this role are North Sea, USGC, Mediterranean, African, Russian and Cushing.
* The Crude Oil Trader will utilize his/her expertise in these markets to create value through identifying arbitrage opportunities, blending opportunities and trading.

KEY RESPONSIBILITIES:

* Generate 3rd party trading profits without the benefit of base assets.
* Identify trading opportunities and execute plans to create value for the Corporation.
* The trader takes on significant trading risk. The trader must be able to manage this risk and generate profits for the Corporation.
* Will be responsible for trading Atlantic Basin Crudes such as North Sea, USGC, West African and Mediterranean Crudes.
* Must have a strong knowledge of the Cushing market.
* Will be responsible for communicating market intelligence to other members of the Crude Oil trading Team.
* Will be responsible for sharing market information flow to benefit the Corporation’s equity assets.
* The trader will be expected to generate more than $10 M US in profits through trading activities.
* The position will have $2.0 M US in VaR and a stop loss of $2.0 M US.
* The trader will be responsible for managing and creating value from strategic storage positions in key North American trading hubs.
* A 3rd party trader must be an ambassador for the Corporation as they have significant relationships with external counterparties. These counterparties are important for both our equity trading so maintaining relationships is an important part of this role.

DECISION MAKING

* Trader will have direct influence over key trading decisions in the USGC and Cushing.
* The incumbent works with little direction over his/her trading activities.
* The trader is required to trade within guidelines and procedures outlined by the Corporation.
* Must be able to absorb market information and develop market calls.
* Must be able to execute market calls.
* Will be expected to develop long term trading strategies and create value for the Corporation through trading profits and market information.

PROBLEM SOLVING:

* This position requires significant problem solving skills including linking market information to understand crude oil markets. This includes a broad understanding of how macro and micro economics impacts crude oil pricing.
* The trader has to have an understanding of products markets, pipelines, financial markets, currency, supply/demand, refinery operations, risk management, other commodities (gold, silver, etc) and relevant economic data (job reports, interest rates etc).
* This position requires a high level of risk tolerance as the trader must be able to execute market calls and live with those market calls.

Working Conditions:

* The Crude Oil Trading Position works in an open concept area.
* This position spends a lot of time sitting at a desk monitoring market data.
* This is a high stress job as they have to take trading positions that are high risk as they are to generate profits without the aid of base assets.
* There is frequent business travel with this position as many of the customers, suppliers and refineries are located across North America.

REQUIREMENTS:·

* The incumbent must have extensive knowledge of international crude trading, in particular Atlantic Basin, Cushing and USGC.
* Must utilize his/her vast knowledge of trading to create value through arbitrage and blending activities.
* Significant knowledge of the Brent and WTI markets is essential for this job.
* Market knowledge of key customers, suppliers and refineries is essential for the success of this position.
* Knowledge of financial trading to manage risk and optimize physical positions.
* Utilize NYMEX and Brent futures and options.
* Highly developed analytical skills required to develop market calls and execute those market calls.
* A trader must have a strong mathematical background in order effectively trade physical and financial positions.
* Must have a minimum 10 years trading with some of that directly related to Brent and Cushing trading.

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