Risk Team Lead at Sellafield Energy Resources Limited

Sellafield Energy Resources Limited is a leading provider of resources and services to Nigeria’s energy sectors. The company has within a short time emerged as a reference point in the sourcing and provision of personnel, technology, equipment and general materials, amongst other critical resources to our growing number of clients in oilfields and power plants operations.

We are recruiting to fill the position below:

Job Title: Risk Team Lead

Location: Lagos
Industry: Oil & Gas

Job Summary

Risk Team Lead is responsible for advising management on any potential risks to the profitability, cost or existence of the company. also responsible for managing exposures to price, market, regulatory, operational and credit risk to ensure business continuity, as well as identifies, assesses threats, proffers solutions and decides whether to avoid, mitigate or transfer risks

Job Responsibilities
Trading Control:

Control & approve traders negotiated terms and conditions to ensure the company is competitive
Oversee and ensure trading operators negotiate contract strictly in line with DS as per Traders recap

Strategic Price Risk Management:

Risk assessment: identify, analyse, and estimate exposures on sales and purchase transactions
Risk evaluation: compare estimated risks with cost of potential options of mitigating or transferring such risks while considering legal and regulatory factors
Hedge prices exposures with futures, swaps and other financial derivatives when necessary
Maintain control over pricing using EFPs, triggers and other pricing mechanism
Plan, design and implement an overall risk management strategy for all cargo sales, purchases, tender bids etc.
Issue and approve final price calculation to enable finance process final commercial invoice, debit notes or credit notes

Management Advisory &Commercial Reporting:

Update monitor, and calculate P&L; making positions to market to evaluate prevailing profitability and exposure. Reporting exposure, P&L and year to date report
Mark opened positions to market to evaluate prevailing profitability or exposures
Establish and quantify the organisation’s ‘risk appetite’, i.e. the level of risk the company is prepared to accept

Chatering & Shipping Control:

Check freight rates and approve vessel fixture
Examine the important economic, financial, contractual and operational specifics of the deal and ensure the charter party fits perfectly

Finance &Account Control & Audit Compliance:

Review and approve all supplier, customers and service providers invoice to ensure information in Aspect and SAP is accurate
Optimise financing structure on sale and purchase transaction to minimise financing costs and maximize profitability
Monitor FOREX exposure and collaborate with finance to close positions and hedge exposures where necessary
Preparing Tender, Bidding and KYC Documents

Requirements

B.Sc in relevant field with 7 years of proven experience
A relevant post graduate degree as an added advantage
Specialization in financial analysis will be an added advantage
Ability to hedge cargoes and long term positions using futures, swaps and option
Wide knowledge of local and International Oil Markets
Knowledge of ICE, NYMEX, Platts quotations for refined products at different locations·
Ability to identify price exposure in transactions

Application Closing Date
Not Specified.

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