Emirates General Petroleum Corporation
Emirates General Petroleum Corporation, Emarat is a multi channel power and energy company with a much loved network of service stations and fuel depots across Dubai and the Northern Emirates. Emarat was founded in 1981 in the UAE as a modern fuel services company that comprises commercial fuel and petrol products. They meet the day to day petrol and LPG needs of millions of people while also helping to keep the engines of Industry running with fleet solutions, aviation fuel and commercial fuel services. Emarat is best known for its more than 89 service stations in Dubai and the Northern Emirates and also offers a broad range of services including supplying gas products and aviation fuel. Nowadays, Emarat is inviting applications from young devoted candidates for position of a Market Risk Manager to work for Fuel Chain Supply.
Job Overview of A Market Risk Manager At Emarat
- To lead the efforts to establish risk management framework for Fuel Supply Chain, as well as leading the risk strategy and policy process.
- Performing risk monitoring, risk management activities & maintenance of the risk tools and systems for Fuel Supply Chain.
- Executing Hedging Transactions within Fuel Supply Chain scope through Financial instruments.
Your Duties As A Market Risk Manager At Emarat
Risk Management
- Maintain and update market risk framework associated with Fuel Supply Chain.
- Coordinate all aspects of the market risk management framework for Fuel Supply Chain.
- Implement recommendations to mitigate identified risks, including those associated with business continuity.
- Lead the process of the assessment, communication and management recommendations of all enterprise risks.
- Support the maintenance and enhancement of the market risk system.
- Carry out comprehensive periodic risk reporting.
- Escalate issues identified within the function to stake holders for remediation.
- Provide advice and guidance on the level of risk /return in the business and whether this is consistent with the agreed level of risk appetite for Fuel Supply Chain.
- Accountable for the management of risk limits and authorities and correct risk reporting.
- Apply risk concepts and measures to help support risk adjusted decisions.
- Ensure appropriate controls and monitoring strategies are implemented.
Hedging Execution
- Executing hedging transactions by buying or selling financial instruments via brokers and exchangers.
- Conducting analysis and identiy potential risks that could affect the organization financial position.
- Implement hedging strategy to manage identified risks.
- Monitoring market trends, economic indicators and regulatory changes that might impact hedging strategies.
- Staying informed about global events and economic factors that could affect the company risk exposures.
- Regularly evaluating the performance of hedging strategies to assess their effectiveness.
- Follow regulatory requirements and internal policy governing hedging activities.
- Quantitative modelling of hedging strategy to select best option for company.
Who Can Apply?
Qualification
- A degree holder in Mathematics, Science, Finance or Economics.
Experience
- 10 plus years work experience in various financial positions such as applying Hedging risk and Financial management.
Skills & Knowledge Desired
- Knowledge of Fuel Supply Chain and Commodity dynamics, deal structures, demand fore casting, stress testing, scenario analysis.
- Significant Market risk experience with a good understanding of market risk fundamentals (P&L, exposure, VaR, stress testing).
- Strong understanding of options /non linear instruments and their payoffs, risk return, risks not captured in modelling.
- Advanced knowledge of required trading and market plat forms, such as Bloomberg, ICE or Platts.
- Quantitative modelling of hedging strategies to select best option for company.
- Previous experience in designing, operating and owing financial controls.
- The role has interactions with various stake holders and therefore requires a combination of intellect, maturity, the strength of character and an ability to earn respect.
