Manager, S&t Risk Management

At World Fuel Services, our employees are the key to our global success. We are industry leaders due to the innumerable talents of our approximately 5000 strong professional team. Our people thrive in an entrepreneurial and culturally-diverse environment, where innovative thinking, collaboration and efficient execution are highly valued. Our high-performance culture is what allows us to drive sustained growth. Stronger together, we promote an environment where individuals can thrive.

World Fuel Services Corporation (NYSE: INT) is a Fortune 100 company providing aviation, marine and land energy, logistics, and technology solutions to customers and suppliers around the world. Our global team of local professionals delivers innovative products and services at more than 8,000 global locations.

With revenues in excess of $27 billion and over 5,000 employees worldwide, World Fuel Services offers its customers a value-added outsource service for supply, quality control, logístical support and price risk management.

Position

One of the primary purposes of this position is to facilitate the business in understanding and monitoring price risk exposure across the firm including both physical and financial risk and those associated with optimizing assets/hedging. The incumbent is charged with the identification and articulation of risk associated with all aspects of the firm’s market risk (VaR) and credit risk (PFE, credit VaR), and liquidity risks. This position will be responsible for overseeing the daily end-of-day pricing uploads into the trading systems, production of EOD P&L reports (Explanation of key P&L movements in terms of trading activity, key market drivers and attribution analysis). Markets covered will include Marine, Aviation and Land segments.

KEY RESPONSIBILITIES:

- Running the end-of-day (EOD) pricing uploads into the risk capture and trading systems.
- Evaluation of new deal analytics including economics, risk profile and stress of exposure
- Production of EOD PnL reports, with reconciliation to Traders’ calculations; ensuring accuracy to risk systems. Explanation of P&L movements to management in terms of trading activity, key drivers, profit attribution analysis
- Work with commercial team to ensure exposures are appropriately booked in trading systems and deal economics are represented properly.
- Demonstrates a working knowledge of the concept of mark-to-market and can articulate market/price volatility in terms of its effect on P&L, cash flow and working capital
- Ensuring non-derivative transactions are treated with the right accounting treatment (Structured deals / Storage / Supply contracts etc.)
- Playing a lead role on commercial v accounting reconciliations
- Identify areas for process improvements and automation.
- Monitor compliance against position limits and requirements in control policies, help manage exceptions, position limit violations and analyze trends
- Develop and support daily control processes around forward prices / sources of pricing that will ensure data integrity of market data curves, to ensure EOD process is smooth
- Act as first point of contact for all non-pricing queries for Front Office/ Back office/Ops/Legal/Credit/Audit
- Daily Trade Captures exceptions reporting
- Highlight control deficiencies and other areas of improvements and propose effective control enhancements to prevent potential issues / reoccurrences
- Ad Hoc projects as initiated

The Individual
- A background in Middle Office/Product Control/Risk Management within energy trading or investment banking is highly desirable.
- Ideally previous P&L analysis exposure for commodities-based products is desirable.
- Bachelor’s degree in Business related discipline such as Finance, Management and Economics is desirable.
- Specialized knowledge in the structure and uses of financial Derivatives as they relate to the management of fuel price risk (futures/swaps/options) is essential.
- Knowledge of ETRM systems desirable
- Knowledge of Oracle and related programs desired, not essential
- Computer Proficiency and software skills (Word, Excel, Outlook), strong Excel skills / VBA skills preferred
- Strong communication skills (oral and written) and ability to engage key stakeholders is essential.
- Strong analytical skills and numerate ability is essential.

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