What’s the role? 

The Market Risk Analyst (Valuation) reports to the Head of Valuation, the Valuation team is responsible for ensuring complex or long dated deals are represented to full tenor in the trade book, accurately measured and valued, with any reserves clearly defined. 

You must be results-oriented, self-motivated and have the ability to thrive in small teams and very fast-paced environments. This role requires frequent interaction with Risk Managers, Traders, Finance, Technical and Derivative Accounting, Model Validation and Quantitative Risk. You must also have the ability to work independently, excellent communication and organizational skills, and a deep understanding of fair value principles and valuation of commodities and derivatives. 

Your responsibilities include:  

• Develop standard deal entry methodologies for complex and long dated contracts, ensuring that difficult to value elements such as physical optionality are considered. Ensure that these deals are valued in accordance with financial and management accounting requirements. 

• Ensure that all exposures generated from complex or long-term deals are fully understood and that these exposures and resultant P&L are properly evaluated, validated, and analyzed prior to any income being reported. 

• In collaboration with Market Risk teams, developing and maintaining asset-backed risk owned models e.g., storage or pipelines used in the trading books ensuring they fairly represent the inherent risk in the portfolio. 

• Documenting and deploying consistent standards for value recognition across commodity lines. 

• In collaboration with Market Risk, develop and apply fair economic value principles across the businesses, 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 that all complex and long-term transactions are properly captured in the trading system. 

• Develop methodologies for extending forward curves beyond the liquid transparent tenor for the valuation of long-term deals. 

• 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. 

• Assess the risks associated with structured deals and the valuation models used for physical/financial trading and hedging, at times building out models to calibrate performance of such deals. 

• Provide detailed analysis and documentation of methods, techniques, and findings. Well documented processes enable team members to build new achievements upon earlier work. 

• 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. 

• 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 and Python are the preferred languages for accessing and manipulating datasets within Shell. 

• Implement industry best practices in commodity trading risk management and fair value accounting. 

• Support digitalization and automation to smooth the flow of information across the business and to remove manual tasks. 

• Carry out the review and execution of SOX controls within their organization and manage communications with auditors after they are completed. 

• Good judgement to provide advice, question discrepancies, escalate issues. 

• Scientific mindset: identify, investigate, analyze, research, discuss, record, and resolve issues. 

• Learner mindset; innovative and creative, excellent problem-solving capabilities. 

What we need from you 

We are keen to hear from candidates with proven professional 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.  

You will also have: 

• A Bachelor’s Degree in Business, Economics, Mathematics, Science, Engineering, or IT; or relevant workplace experience in the energy trading industry. Advanced degree or certificate preferred. 

• Intermediate to Advanced Excel skills, such as pivot tables, lookups, VBA macros 

• Thorough understanding of financial, commodity and energy markets; derivative instruments and hedging techniques preferred 

• Understanding of options theory and its application to commodities and asset valuation preferred 

• Knowledge of scripting languages which enable data gathering and transformation such as Python, and database languages such as SQL, Endur, DEX or comparable energy trading risk management system and ability to fully leverage its functionality 

• Ability to solve real world business problems using quantitative and computational techniques 

• A critical and strategic thinker, with a long-term view on risk but with a short term and pragmatic view on implementation 

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). 

More 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.